How pet insurance can help cut the costs of vet bills

Pet insurance concept with cat and dog — (Image credit: Getty Images)

From health checks and vaccinations to dental work and emergency care, veterinary costs can be substantial. While a record 4.6 million pet owners had insurance in 2024, according to the Association of British Insurers, this is the equivalent of just one in six (17%). In a survey of 1,205 pet owners by Co-op Insurance, 34% said they avoid visits to the vet, with a fifth doing so owing to the expense.

Prices depend on several factors, such as the type of animal and the procedure, as well as region. The average cost of a vet out of hours is £316 in the southeast of England (excluding London), compared with £241 in the north of England, according to pet insurer Many Pets.

Keeping vet bills down

Buying pet insurance can give you peace of mind that if your animal needs veterinary care, the policy can help with the costs. It is not a legal requirement, but it could save you money at the vet throughout their lifetime.

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“Ultimately, pet insurance is an important safety net that can help you avoid large, unexpected vet bills,” says Rhys Jones, pet-insurance expert at comparison site Go.Compare. “Most cats and dogs will, unfortunately, need treatment for an illness or injury at some point in their life and veterinary treatment can be eye-wateringly expensive.” The average monthly pet-insurance premium in the UK is £13.13 for a pedigree dog and £11.10 for a pedigree cat, according to Go.Compare.

The breed of your pet can affect the cost of coverage, as can location, environment and vet costs. The animal’s age and veterinary history may also drive up prices. Note too that premiums could be higher if your pet has a pre-existing medical condition, for instance.

How to find the right pet insurance

To find the right pet insurance, shop around. Price comparison websites let you compare coverage and cost in one place. Some insurers will let you pay premiums annually rather than monthly, which could lower costs. If you care for more than one animal, see if you can secure a multi-pet discount. Some insurers offer money off for insuring more than one pet on the same policy, and the savings could be significant.

Spaying or neutering your pets may also be worth considering. This can help prevent unwanted litters and reduce aggressive tendencies, as well as lower the risks of certain health conditions, meaning that some insurers might cut the premium they offer, says Jones. Furthermore, getting regular and routine check-ups will not only help your pet stay fit and well but also help avoid even bigger vet bills if any treatment or medication is required.

Types of pet insurance to consider

There are four different types of pet insurance coverage. A lifetime policy will cover the cost of the treatment for your pet throughout their lifetime, although there will still be a yearly limit. This is the most popular, comprehensive and expensive type, according to the charity The People’s Dispensary for Sick Animals (PDSA).

Second, maximum benefit cover will give you a pre-set amount of cover on each injury or illness. There is no time limit, so you can claim as many times as you need to until you reach the maximum benefit.

Time-limited cover, as the name suggests, spans a certain period. For example, a 12-month policy will cover vet fees for up to one year. It will also have a financial limit, so the policy can end before the time period passes.

Finally, accident-only policies cover the cost of treatment if your pet is involved in an accident. This type of cover can be a lot cheaper, but wouldn’t protect you if your pet develops an illness or health condition.

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Jessica is a financial journalist with extensive experience in digital publishing.

She was previously Digital Finance Editor at GB News and Personal Finance Editor at Express.co.uk. She enjoys writing about savings, pensions and tax, and is passionate about promoting financial education.