Pet insurance rises to $866 a month, Ontario woman says she can't afford it

An Ontario pet owner was notified her monthly pet insurance premium rose to $866 after previous increases; the insurer said rising veterinary costs and a pet's age help explain higher premiums.

An Ontario woman says her monthly pet insurance premium rose to $866 after earlier increases. Elaine Citter of Toronto has owned her bichon‑poodle Rosie since she was a puppy and said she cannot afford the new charge. She is insured with 24PetWatch, and the parent company, Independence Pet Holding, told CTV News that rising veterinary costs and older pets' increased health risks can lead to higher premiums. The company also said it could not discuss individual policy details and acknowledged the situation was stressful. Key facts: - Citter reported premiums rose from $286 a month in 2024 to $470 the following year and to $866 this year. - The insurer said industry-wide increases in veterinary costs and the greater health risks of older pets are factors that can drive higher premiums. - Citter said she paid about $17,000 in premiums over 11 years, used the coverage only a few times, and her plan had a $500 deductible. - No further resolution or scheduled next steps were reported; the insurer noted it could not discuss individual policy details due to customer privacy. Summary: The reported premium increase left the owner unable to afford the policy while the insurer attributed the change to rising veterinary costs and pet age. Undetermined at this time.