Annual changes in premiums

We believe in transparency and want to make sure you understand why premiums can change annually, so you can confidently make decisions that are best for you and your furry friends.

There are many factors that we use to assess risk, which adjusts our pricing. Seven of these factors include:

Where your pet lives, their breed, gender, and neuter status affect their insurance costs because they help us assess risk. For example, a brother and sister Dachshund could have different prices as one gender's risk increases with age. Plus some of these factors change, like neuter status or location, which can impact your price.

Age is a big factor it deserves more of a mention. Pets' health can change over time. This means we may need to reassess risks, which can affect premiums even just after a year.

Vet costs are rising, including special services and after-hours care, which reflects insurance costs. Vet costs can go up due to new and advanced techniques to improve pet healthcare, and due to inflation.

Claims can impact premium costs. Pricing reflects the likelihood of something re-occurring or increasing the risk of another condition, even if you believe it won’t happen again. For example, accident claims generally have less impact on premiums than illness claims, with prices adjusted accordingly.

Like many other pet insurers, we actively monitor pets with similar traits and locations to identify any emerging trends within specific breeds. This data helps predict future risks and set prices.

Renewal prices are usually higher than new quotes because renewing keeps your pet covered for any health issues they've had since your initial policy started. With lifetime cover, we’ll continue covering these issues for your pet’s lifetime as long as you renew. Where as a brand new policy comes with a new exclusions and waiting periods.

Some folks get a discount for the first year. When renewing, the price will go up because the discount ends. But if you have more than one pet, your multi-pet discount automatically applies at renewal and continues as long as you have 2+ pets with us.

These reasons for the increase may seem standard and generic but it accurately reflects the various factors that impact our pricing.

Your price will likely go up each year as your pet gets older, but we can't say by how much.

This is because many factors affect pricing, including external and changeable ones like inflation and vet costs. We can't predict future changes exactly, our pricing forecasts cover the next 12 months but can change after that.

Your renewal quote is the best price for your pet's continued cover. If you have more than one pet, your multi-pet discount is already included. We don’t have extra discounts, but there is another way to lower your cost.

To keep your pet covered and protected, and try to reduce your premium, you can lower your cover level. We understand this choice may be difficult, but please ensure the new level still meets your pet’s needs. You can upgrade again at your next renewal. All the terms are in the policy doc on page 28.

If you want to explore other coverage level options available at renewal, simply visit your dashboard. You can make changes there until the day before your renewal date.

If you want to lower your cover level part-way through the year, contact support@napo.pet. You’ll be taken through the process of changing your cover limit. You may be ask to pay your upcoming debit to bring your policy up to date.

If you’re still concerned and would like a chat or have some questions you can easily get in touch via our chatbot or email support@napo.pet

We’re here to help and aim to respond via chatbot by the following working day or by email within two working days.

While the renewal quote cannot be negotiated, if you’d prefer to speak with someone on the phone, let us know and we’ll arrange a callback at a time that suits you. 💙💙