Is it normal for insurance to go up almost 30% annually? Looking for historical data from cat owners.
We have three Maine Coons and the insurance with Trupanion for them as kittens was pretty reasonable at about $15-$17 per month each. In the first year the insurance went up 3% which also felt very reasonable and worked out to an extra $13 per year. However in the second year our rates went up 51%, then 23% and 29%, averaging out to about 27% annually. I'm wondering if this levels out at some point or is it normal for increases to be this high annually? I extrapolated costs out assuming they all make it to 20 and we'd be looking at several hundred and then over $1000/per cat monthly if this continues. We're wondering if anyone has historical data over a longer period and if this eventually goes back down to a reasonable 3-5% per year? We know our breed will be a bit more of course but just didn't expect this steep of an annual increase. I'm just wondering if it makes more sense for us to just start saving that amount instead as we're now hitting the point of paying $150/month. Thanks for any feedback/advice!