pet insurance

[jubbles]

my parents have had their dog insured with the same company for 9 years the last monthly payment was �16.87 they have just been to their bank today and found a payment of �57.11 had been taken out on enquiring at the bank they found it was the pet insuarance company .they rang axa and were told that was the new premium which made a yearly payment of �685.32 more than 3 times the normal premium what was worse they did not have any notification from the company or renewal
letters please be aware and if anyone has any advice i would be really grateful

[wildwood]

That is incredible! Why did your parents grant Axa a direct debit authority when a set amount is safer to be paid by automatic payment? Whatever, they still have an (legal?) obligation to notify your parents for an acceptable amount of time before the payment is due.

I wouldn't be surprised if the excess of the agreed amount is recoverable should your parents wish to terminate the contract.

[Schutzengel]

Pet Insurance companies often increase the insurance payment for older animals, after a certain age, if the animal has always been insured with them. But will not provide a new insurance policy for animals which haven't been insured with them before. It may be that they have increased the payment due to the dogs age. I suggest you contact the insurer's direct. They should most definitely have notified your parents that an increase was due, before taking any money out of the account and allowed adequate time for consideration of the increase. They also should have asked whether your parents wished to continue with the insurance. Hope this helps.

[sandmaster]

If the insurer did not inform your parents of the increase, and they wish to discontinue the policy, they can ask the bank to make an indemnity claim to claw back the direct debit payment.
It is for this reason I never insured my dogs. At one time I had two horses, two dogs and two cats - it would have cost a fortune to insure them. The amounts I saved on premiums paid for the treatment they had from our vet (including a �1200 eye operation for one of the boxers).
Insurers are going to increase premiums as the animals get older which I don't think is fair. The underwriters are more than capable of calculating possible claims over an average lifespan and working out a premium for the life of the animal. Initial premiums may be higher but owners would not be faced with the dilemma your parents now face.