We’re at a loss, as ManyPets doubles the cost of our dog’s lifetime cover

theguardian.com:

When my family adopted our dog Hyko five years ago, we immediately took out pet insurance with ManyPets. They are highly rated, so I thought it was a safe, if expensive, option, at £530.

We went for pricier “lifetime” insurance so he’d be covered for chronic conditions, not just one-off accidents or illnesses. This turned out to be a smart move as he had his first seizure shortly after we adopted him.

After some tests, we discovered that Hyko would be taking epilepsy medication for the rest of his life. We weren’t too worried, though, because ManyPets promised “you won’t be singled out for making a claim” in a renewal email to us.

For the first few years, it looked as if that was the case as price rises were manageable (£653 in 2020 and £833 in 2021). That was until 2022, when the cost of the policy jumped by more than £500 to £1,353.

Then this month I got the renewal email I’d been dreading. The annual cost has doubled to £2,692 and we can’t switch provider because of his pre-existing conditions.

Hyko is almost 10 and will probably live for another three to five years. We are dreading what future price increases could look like and the difficult decisions we might have to make. We’re at a loss about what to do.

LL, London

Caring for pets is an expensive business, as you have discovered, but the insurer you chose comes highly recommended, with ManyPets rated a “best buy” in the consumer group Which?’s recent pet insurance guide.

ManyPets says there are a number of factors that feed into the increase in a premium, including the dog’s age, breed and “changes to our estimate of the risk of a pet getting ill in the future”. It adds: “In the past year inflation has been a big factor and this has affected veterinary care