How much is pet insurance?

5th February 2019by Joanna White

Owning a pet can truly be one of the most rewarding experiences you’ll ever have; but it won’t come without its expenses.

While the cute and cuddly creatures may be adorable, they can also cost a lot of money to look after and ensure their health is well-maintained. You’ll need to pay for the likes of a cage (dogs and cats), a tank (fish and reptiles), a run (guinea pigs and hamsters), not to mention all the other necessary bills you’ll be faced with.

Having said that, it’s incredibly important to ensure that your beloved pet is well-equipped with the correct pet insurance to ensure that it receives the best possible medical care and veterinary treatment possible.

The guide below explains everything you need to know about pet insurance.

What you need to know – how much is pet insurance?

It’s thought that an average vet bill costs around £300; which is why so many people opt for pet insurance which they pay annually as if your pet requires emergency veterinary treatment, it can cost significantly less if you have comprehensive insurance for your pet.

Of course, the cost of pet insurance is dependent on many factors, including the breed of pet, the type of policy, the age of your pet, and even the area where you live! Here’s some more details about the factors contributing to the cost of pet insurance.

Types of pet insurance policy

Like with any type of insurance, there are many types of pet insurance available, depending on your pet’s needs.

Annual policies

An annual pet insurance policy does exactly what it says on the tin; you’ll pay for the policy on an annual basis and your pet will be covered for any conditions or accidents that occur during that 12-month period.

While annual policies can sometimes be the more affordable option, there is also often limitations. There may be a limit on the monetary value of your pet’s treatment; meaning that if they require surgery or treatment for an illness or accident for example, and you only have a £2000 treatment limit, then any costs incurred after that limit may be required to be paid for by yourself.

No time limit policy

This type of pet insurance cover is generally considered to be more generous; meaning that if your pet requires treatment for something that costs thousands of pounds, they will be covered with no time limited on that amount of treatment cost.

However, due to this added flexibility, you may find yourself having to pay higher premium costs.

Lifetime cover

Lifetime pet insurance cover is the most comprehensive type of cover you can get for your pet. It means that your pet will be covered for the entirety of its life up to a set amount of money per year.


This type of cover is typically the cheapest as it involves insuring your pet for the injuries experienced due to an accident or emergency illness.

How to reduce the cost of your pet insurance

With pet insurance fees not being cheap, you’ll want to find as many ways as possible to try and reduce the amount you must pay for it.

Consider multi-pet policies

Naturally, this can only be done if you own more than one pet, but if you do then it’s a good idea to try and insure them on the same policy.

Many insurance providers will offer a discount from between 5% up to 20% (for some generous providers!), meaning that you can insure your pets while saving money.

Pay your policy annually

Another way that you can reduce the cost of your pet insurance is by opting to pay for your policy annually. This is because monthly payments can often come with extra charges and fees, whereas paying annually can result in cheaper payments as you don’t have to pay extra on monthly instalments.

Choose a higher excess

This is a trick that many people use for all kinds of insurance, including pet insurance. If you opt to pay a higher excess, then your premiums may be lowered as a result. It’s imperative to make sure however, that you can afford the excess if you need to make a claim.

Conclusion – how much is pet insurance?

As you can see, there isn’t one set amount for how much pet insurance costs; it’s dependent on many factors.

Make sure to take the precautions necessary to try and reduce the cost of pet insurance as much as possible.

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