Pet insurance costs have been on the rise in recent years with a sharp increase in Europe - and Brits are feeling the surging prices the most according to new research
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Pet insurance costs have been skyrocketing across Europe, and Brits have been feeling the effects.
If you're unsure as to whether the policy you have is right for you, Mirror Switch and Save has partnered with Quotezone.co.uk to help UK pet owners compare pet insurance policies, and find the right deal for you and your pet's needs.
A recent study from CRIF has found that 29% of policyholders across Europe have seen a sharp increase in the price of pet policies in the last three years, with Brits most likely to be feeling the effects of the rising costs. In fact, UK pet owners are most likely to feel like they're paying more than ever before.
A beloved pet getting sick or injured is stressful enough, but rising costs are an increasing worry for their owners. With research from Quotezone having previously revealed that 46% of Brits say they are struggling to adjust to life at today’s prices, it's yet another dent in the budget that needs to be factored in.
Still, the cost of pet insurance is worth it if something does go wrong, or you could be facing hefty bills at the vet, especially if your pooch or cat is injured and requires long-term attention.
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Without pet insurance or with basic policies, pet owners can be left vulnerable should the animal suffer an illness or accident. A Quotezone survey found that 42% of Brits had to self-fund the cost of treatment after their insurance policy wouldn’t cover it – choosing the lower levels of protection could leave families susceptible to overwhelming financial costs.
Lifetime policies are usually the most sensible choice as they include comprehensive coverage, protecting pets against illnesses and injuries throughout their lives - yet only a minority of Brits opt for this option.
At the other end of the scale, accident-only pet insurance can be a cheaper option, but there are limits for each claim and usually it only covers injuries or accidents. This type of policy does not cover long-term or chronic illnesses and often has low payout caps, meaning vet bills could quickly exceed any limits and leave pet owners out-of-pocket. Mirror Switch and Save can help you compare pet insurance policies to find the one that's right for you, depending on your needs.
Find the right pet insurance policy for you.
As to the reasons why insurance policy prices are rising, there are host of factors that could be contributing to the surge from rising vet prices to the general cost of living. Increased claims have also played a part; according to the Association of British Insurers (ABI), a record £1.23 billion was paid out in pet insurance claims in 2024.
Looking for pet insurance? Mirror Switch and Save has partnered with Quotezone.co.uk to help you compare a wide range of pet insurance quotes, from trusted UK insurance providers.
Reach Publishing Services Ltd. is an Introducer Appointed Representative of Seopa Ltd. who are regulated by the Financial Conduct Authority, FRN: 313860. Seopa Ltd. own and operate the insurance comparison service. Mirror Switch & Save earns a commission for each policy purchased, at no cost to you. We do not provide financial advice.