Pet Insurance Prices Drop – A Win for Pet Owners Across the UK!

In a notable shift in the pet insurance market, pet owners in the UK are experiencing a welcomed decrease in insurance premiums. As competition among insurance providers intensifies, new research indicates that the average costs of pet insurance are on the decline, despite rising veterinary fees and other pet-related expenses.

Encouraging Trends for Pet Owners

With approximately 17 million pets owned in Britain, the reduction in insurance prices stands to benefit countless pet owners. According to a report from pricing consultancy firm Pearson Ham, average lifetime pet insurance premiums dropped by about 1.6 percent in 2025 compared to the previous year, following a significant 2.3 percent decrease at the end of last year. This trend is particularly visible among pets aged four to six, where premiums have seen reductions of around 4 percent.

Insights into the Insurance Market

While older pets have seen stable pricing, the competitive nature of the pet insurance market is apparent, showcasing its ability to respond to consumer needs. For instance, the median lifetime insurance quotes last month were reported at £247 for dogs and £180 for cats. Such statistics underline how vital competition is in driving down costs and providing affordable options for pet owners.

Choosing the Right Insurance

Understanding which pet insurance plan fits your needs is crucial, especially given that a study revealed one-third of UK pet owners do not have insurance due to cost concerns. In response, numerous resources are available to assist in selecting the best insurance. Recently, Moneyfacts awarded ManyPets the title of "pet insurance provider of the year," indicating the growing accessibility of quality insurance options.

This positive development in pet insurance pricing is not only a relief for current pet owners, but it may also encourage more pet lovers to consider insurance, ultimately leading to better care for their furry companions.