Is There A Decreasing Rate If We Insure Several Cats?

The love for cats can lead to sharing one’s life with several of them, provided that the surface of the accommodation allows it. And homes that house multiple cats are arguably a bit more common than those that house multiple dogs.

If you are concerned about providing the care that your animals’ health requires, while limiting your expenses, you know that animal health insurance is a good solution. But how much can this represent as a budget when you have several cats? Can we obtain decreasing rates in proportion to the number of cats to be insured?

Insurance Companies Offer Decreasing Rates If You Have Several Cats

The pet insurance market is seen as a buoyant business. The sector is even considered one of the most important growth segments for insurance companies, given the global dynamics of the market. This also means that insurers face increased competition and must innovate to continue to attract their existing customers or attract new policyholders.

Pet insurance companies must constantly offer convincing and innovative offers, including the ease of communication between the company and the insured. In the range of commercial actions carried out, the degression of tariffs comes first. Thus, you can see the price of a contract decrease depending on whether you have 2, 3 or 4 cats at home.

Global Contract Or Individual Contracts

Each insurance company designs its offers in relation to a strategy determined by company management. This is why the market is spread out and allows you to find the insurance that matches your profile. The market thus gives you the choice between inexpensive but also less protective packs, and very expensive packs but corresponding to advantageous care, including surgical acts, but also preventive actions. Between the two extremes, you will find different intermediate offers.

If you have several cats, you will have the choice between two possibilities: to subscribe to a global contract or to individual contracts.

In the case of global contract, insurers insure several cats at the same level of coverage. This usually leads to advantageous bundle pricing. What we most commonly observe is the gradual reduction: less 5 to 10% on the starting price for the 2nd insured cat, less 10 to 15% for the 3rd cat, and less 20 to 25 % for the 4th cat or more.

Animal health insurance aims to make managing the health of your animals easier. Alas, no anticipation is possible. It happens that animals in the same household fall ill all together in the same year when everything will be fine the following year. Thus in the first case, you can potentially exceed the annual ceiling of covered expenses, while in the second, you will not have consumed any of the services included in the package. Under these conditions, if you hesitate, the offers intermediaries appear to be an interesting compromise over several years, between the amount disbursed for the contributions and the reimbursements made.

But you also have the option of using individualized contracts. This can be particularly interesting if your cats are of very different ages and breeds. An advisor will then be able to help you define the formula that best suits each of them. This work is tailor-made and involves a personalized assessment, as close as possible to the estimated needs. In this case, it is less a digression in the proper sense of the term than a negotiation rates that the insurer can set, within the limit of rate negotiation set by its management. The conditions remain less advantageous than under a global contract, but you can finally find your way financially if your cats have really different health conditions.

The Advantages Of Insuring Several Cats With The Same Insurer

As we have mentioned, insurers have an interest in promoting the subscription of several animals within the same organization. Here are the two main advantages, in addition to easier management, that you can derive from dealing with only one insurance company.

Any new contract subscription generates administration fees that can be reduced or even offered. If you subscribe to several offers with the same insurer, whether the procedures are carried out simultaneously or at different times, your margins for negotiating administration fees are greater.

Insurers have no choice but to follow market prices: increase in veterinarian fees, drug prices, the volume of expenditure observed among all of their policyholders, or even aging of animals… All these elements are closely observed by the insurance companies, which may then have to reassess the amount of their contributions. The fact of subscribing to several contracts with the same company gives you greater weight and opens up the possibility of better negotiating this revaluation and benefiting from preferential rates.

Never Hesitate To Compete

The pet health insurance market will experience profound changes in the years to come. Insurers are already called upon to modify their traditional approaches. It is possible that they will take more into account the lifestyle of an animal, measured for example by monitoring devices, to offer more appropriate prices. Some forecasters also predict that with the development of artificial intelligence, the implementation of process automation will lead to faster processing of low value claims, leading to a reduction in the price of part of the premiums.

Comparators are useful to stay on the lookout and find new offers, perhaps better meeting the needs you meet. But don’t forget to make your decisions only on the basis of precise estimates that you will have taken the time to read in detail. Moreover, if you find better conditions than those you know, do not suddenly leave your current insurer. Ask him first if he is not able to offer you the same conditions.