Why would the cost of pet insurance increase? Pet insurance helps to cover the cost of vet treatment if your pet becomes ill or gets injured. It could help you cover the cost of an unexpected and potentially high vet bill. You may be aware that the cost of pet insurance in the UK has increased. To work out the cost of cover there are several factors you should consider, and we’ve outlined them below. Your pet insurance renewal Before your pet insurance comes to an end, you’ll get sent a renewal invitation that includes the cost of your current policy and a price for renewing your cover. Pet insurance is comparable to human health cover and as your pet becomes older each year, they may need more vet treatment. How much do vet bills cost? With the average cost of a claim at £668 in 2023*, according to the ABI, the cost of veterinary care to help treat sick or injured pets can be expensive. We understand it can sometimes be difficult to cover the cost of treatment for your pets and pet insurance can help to pay the upfront cost of vet bills. The ABI have provided examples of claim costs* on their website, including the following: Claims for spinal surgery are the most common high value claims, often costing £8,000 – £10,000. A fractured femur for a pedigree cat cost over £8,000. The most common ongoing claims are to treat diabetes, £1,000 to treat diabetes in a cat. Treatment for arthritis in a dog can cost over £2,000. I haven’t made any changes to my policy, why has the price of my cover increased? The price of your pet insurance may be affected by where you live and the breed of your you’re your cover may also increase due to the following: Age of your pet: as pets get older the risk increases as they are more likely to have health problems and require vet treatment. Cost of vet fees and treatment: the overall cost of vet fees have increased due to high inflation. Vet practices cover a range of costs including salaries, equipment, medicines, and premises, which have all increased over the years. Developments in vet treatments, technology and medicine all help to provide better care for your pets. This means that treatment can be more expensive, and these costs result in an increase in the amount insurers must pay in claims. Claims: your premium reflects any previous claims you’ve made. Pet advice when you need it the most. If your pet is unwell our 24/7 advice service may help save you an unnecessary trip to the vet. Speak to a vet or vet nurse by phone, chat, and video. Our pet care service also offers behavioural and nutritional support, to help you take care of your pet. Learn more about our petconnect service Do you need pet insurance? We understand being a pet parent can be tough, especially if your pet becomes ill or gets injured. It’s important to consider pet insurance if you have a pet, as cover can help cover the cost of vet fees should your cat or dog need to visit the vet. Compare our insurance plans and get a quote through our website using the following link. Get a quote for your pet