With 16m pet owners in Britain the consensus on prices in the pet industry is largely, very unhappy! With vet prices increasing and pet insurance doing the same it is becoming harder for people to afford their beloved pets.

 

In 2023 just in the months of July to December pet insurance prices rose by 13%. Since February 2023 to 2024 prices have risen by 21%.

 

Why are prices increasing?

Insurance companies are on a basic level, a business looking for profit and to do so they must hike their prices when needed.

Overall inflation has forced all sectors to increase prices, as treatment, medicine, wages and more become more expensive finding an affordable vet’s have become impossible. For insurer’s to afford to pay out for the more expensive vet bills they have risen their customer prices.

New treatment options such as specialised scans and more which have appeared on the scene over the past few years have also risen prices and they have risen bills which insurers need to pay.

The age of you pet and where you live will also determine the cost of your insurance.

 

How to keep costs down

  • Researching the breed and possible genetic conditions they could have, the more likely conditions they could develop, the higher their insurance will be.
  • Getting your pets spayed and neutered.
  • Making sure your pets are microchipped.
  • Start their insurance from a young age and new insurance for an elderly pet will be difficult.