First renewal offer from Lifetime Pet Cover for our 18mth old Shizh tsu was hiked 40%. Got in touch and told The risk/renewal calculation is based on automated formulas that calculate the renewal premiums for a policy which take into account multiple risk factors that include for example - claims information, rising vet fee costs, current premium, the level of cover, geographical area, similar cases, the nature of a condition, pet age and overall performance. Other main reasons for premiums increasing upon renewal are taxation changes, veterinary procedure advancement, inflation and an increase in the probability of future claims