MetLife  filed for a 35% average rate increase for its pet insurance program in New Jersey, affecting approximately 21,000 policyholders if approved. The filing applies to both new and renewal policies, with requested effective dates of April 30, 2027, for new business and June 14, 2027, for renewals.

According to the filing, the insurer’s indicated rate need is 62%, but it is requesting a 35% overall increase. Individual policy changes would range from 12% to 38%, generating an estimated $5.6 million in additional written premium.

MetLife said the revised rates are based on a review of historical claims experience and will be implemented through updated base rates, expenses, and discounts.

The filing also maintains a four-year renewal rate capping program, limiting increases to 25% for three consecutive renewals before policies transition to the full approved rate.