Pet insurance coverage costs rising as auto insurance premiums rise
Insurance companies and some consumers say rising auto insurance rates are hurting their bottom lines.
But the rise in premiums could be offset by savings in higher benefits from cheaper auto insurance policies, analysts say.
Pet insurance premiums have increased in some states since the beginning of the year.
A recent report by the Federal Trade Commission found that rates for auto insurance jumped 9.3 percent last year.
The increase comes amid an ongoing debate about whether the nation’s auto insurance industry should be regulated.
Many lawmakers say the industry should not be regulated and that some policies are unfairly priced.
Some critics of the industry argue it should be.
Auto insurance companies are required to provide coverage for animals, and many insurance companies charge higher premiums for animals than humans.
They say the high rates are due to the fact that they don’t provide a comprehensive coverage to the animals.
But critics of animal insurance say that many of the policies have not been properly reviewed or regulated.
In many states, they argue, policies are written in a way that makes it more difficult for pets to have coverage.
The American Veterinary Medical Association says some animal policies are too broad and too expensive.
That is particularly true for pet insurance.
It says a pet may have coverage for a dog, cat, ferret or rabbit.
It’s often cheaper for the insurance company to cover all of those animals, but some animal insurance companies don’t cover those animals because they aren’t considered to be pets.
The AVPMA also says policies that cover pets as small as three months old should not have coverage at all.
It’s not clear what will happen to the costs of pet insurance if the insurance companies raise rates.
The industry says rates are determined by the rate-setting process in each state.