More than 48,000 pet-owning Floridians will see their premiums spike in the next few months after state regulators green-lit rate increases for three pet insurance companies.

The rate hikes will climb as high as 35.6% for people with accident-only coverage underwritten by American Pet Insurance Company. In their rate filings with the Florida Office of Insurance Regulation, insurers pointed to high claims costs as driving their need for rate increases.

Most affected policyholders will see double-digit rate increases

American Pet won approval for increases that will affect more than 3,200 policyholders, including 1,618 Trupanion for Chewy Health policies.

The insurer’s accident-only customers will see the largest increase of 35.6%. Rates for accident and illness plans will climb 24%, and

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