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Why Did My Premium Change?

Learn how you can reduce your monthly premium payment, what’s factored into determining premium cost, and other helpful information.

Updated over a week ago

Why Did My Premium Change at Renewal?

  • Base Rate – Each state has a minimum rate each carrier must charge. All premiums in your state increase by the same percentage based on a risk assessment done by our underwriter. Veterinary inflation is also accounted for in the base rate.

    • All rates are filed and approved by each state’s department of insurance as required

  • Discounts – Discounts are reviewed by each state and Embrace every year. If a discount is not approved in your state or is no longer offered, it is removed at renewal causing the premium to increase.

  • Pet’s Age – Like humans, pets tend to need more frequent and costly veterinary care as they age, so a premium increase reflects this.

  • Trends in Pet Population – certain breeds are more prone to specific costly conditions over time. Premium changes reflect the shared risk.

Why Did My Premium Change During My Policy Term?

Premiums may change during your policy term due:

* Your geographic location may affect the premium you will pay. The cost of living associated with your area is reflected in your premium and is a way to ensure payments are fairly determined for each member.

How Will I Be Notified If My Premium Changes?

You will receive an email with your renewal premium two to four weeks prior to the policy renewal date. If your premium changes for any reason, you will be notified via email.

How Can I Offset My Premium Changes?

You can reduce your premium at any time by:

  • Increasing your deductible

    • This is the amount you have to pay before insurance reimbursement kicks in

  • Reducing your annual maximum

    • This is the maximum amount of money you could be reimbursed in your policy year

  • Reducing your reimbursement percentage by selecting “Change Coverage” in your MyEmbrace account

    • Changing your coverage options will reduce the amount you pay each month in premium dollars.

  • Removing exam fee and/or prescription coverage from your policy

    • This option is not available in all states. We urge you to consider this option carefully as exam fees and prescription costs can add up and once removed, these coverages cannot be added back onto your policy.

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