If you have recently welcomed a pet as a new member of your family, it is likely you have considered pet insurance and you may be wondering if pet insurance is expensive. In this article, we take an extensive look at the cost of pet insurance for dogs and cats and the factors that can impact the cost, as well as the steps you can take to reduce your monthly premium including how using a comparison site such as Quotezone could mean you pay from £2.56 per month**.
What is pet insurance and how does it work?
Pet insurance is an insurance policy that covers the cost of treating your pet should it become ill or injured. If you have recently welcomed a new pet into your home, getting pet insurance as early as possible will ensure that your pet is covered for any conditions should they arise at a later date. With a pet insurance policy, you pay a monthly or annual premium to a pet insurance provider and then claim on the policy if your pet requires medical treatment due to an illness or injury. Some pet insurance providers will pay your vet directly but most reimburse you for any costs incurred during the treatment. For more information on pet insurance and how it works, check out our article, 'What is pet insurance?'
There are different types of pet insurance and each one offers different levels of cover. We have briefly summarised the different types below:
Accident-only
Accident-only pet insurance is the most basic type of pet insurance policy as it does not offer any cover for illness and will only provide cover for injuries that are sustained as a result of an accident.
For more information on accident-only pet insurance read our article, 'Accident-only pet insurance explained'.
Time-limited
Time-limited pet insurance covers your pet for a condition for a set amount of time and for the amount agreed in your policy. For example, if you chose a 12 month time-limited policy and your pet suffered an epileptic seizure, any treatment would be covered for the 12 month period only (up to the cost of your veterinary fee cover). After this date, the condition would no longer be covered and you would have to fund any further treatment yourself. Some time-limited pet insurance providers start the 12 month period of cover from the first clinical signs of a condition and others start the 12 month period from the first date of treatment so ensure you check the policy documents carefully to understand when you are covered from and for how long.
To find out more about time-limited pet insurance, read our article 'Time-limited pet insurance explained'.
Maximum benefit
Maximum benefit pet insurance covers your pet for a set amount per condition. For example, if your policy limit is £5,000 your pet is covered for each condition within your policy for £5,000. Once the limit is reached you can no longer claim for the condition and any further treatment for that condition will need to be self-funded. You can, however, claim for a separate condition up until the policy limit and there is no time limit for claiming.
For more information on maximum benefit pet insurance, read our article 'Maximum benefit pet insurance explained'.
Lifetime
Lifetime cover is the most comprehensive cover and offers the best protection for your pet. There are two types of lifetime pet insurance; Annual limit per condition and Annual limit lifetime pet insurance. Annual limit per condition lifetime pet insurance covers your pet for a set sum of money per condition each policy year. Annual limit lifetime pet insurance will cover your pet for a set amount per year and you can claim for multiple conditions until the limit is reached. The annual limit will then renew the following year. If you meet any of the limits within the policy year, any further treatment will need to be self-funded until the limit resets.
For more information on lifetime pet insurance, read our article 'Lifetime pet insurance explained'.
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How much does pet insurance cost?
The cost of pet insurance depends on multiple factors such as the type of pet insurance premium, the type of pet, the age and breed of your pet and where you live in the UK. In the below tables, we compare the average pet insurance premiums for lifetime insurance for dogs and cats as this is the most common pet insurance policy type. You can also compare pet insurance policies in our article, 'Best pet insurance in the UK'.
You can also get pet insurance for exotic pets, horses and smaller mammals such as rabbits. Specialist insurance companies provide these types of policies and the cost will vary based on the type and breed of your pet. Equine insurance can also cover you for additional extras such as the cost of stolen tack, stable damage and the accidental death or injury of the rider. Exotic Direct is a specialist insurer that provides pet insurance policies for exotic animals such as tortoises, lizards, snakes and small mammals.
How much is dog insurance?
In the below table, we have gathered pet insurance quotes for two different dog breeds and for a range of ages. The quotes in the below table are based on the following information:
- Medium-sized, male, mixed breed dog with no underlying health issues, who is microchipped, neutered and aged 1 year, 5 years and 8 years old living in the South East
- Male French Bulldog with no underlying health issues, who is microchipped, neutered and aged 1 year, 5 years and 8 years old living in the South East
All of the policies quoted in the below table are for lifetime pet insurance, as it is the most comprehensive pet insurance policy, and therefore the cost may vary for other pet insurance policy types. For more information on how the type of pet insurance policy affects the cost of pet insurance, read our article '7 factors that affect the cost of pet insurance'. The quotes are correct as of 16/02/24 and will vary depending on the policy you select, the provider, level of cover, where you live and the type, age and breed of your pet.
The policy excess you have to pay will also affect the cost of your pet insurance policy. Usually the higher the excess on your policy, the cheaper your pet insurance premium. In some cases, you can further reduce your monthly premium by also choosing to pay a percentage contribution towards the remaining vet fees, also known as a co-payment. Some providers, such as ManyPets*, allow you to select a percentage co-payment in addition to your policy excess, which could further reduce the cost of your monthly premium as you are committing to paying more towards the veterinary fee cost when you claim.
For more information on the cost of other types of pet insurance, read our articles:
- Compare the best lifetime pet insurance
- Compare the best maximum benefit pet insurance
- Compare the best time-limited pet insurance
- Compare the best accident-only pet insurance
How much does dog insurance cost?
| ManyPets* | Animal Friends | Waggel* | |
| Policy name | Regular | Lifetime £5,000 | Waggel policy |
| Policy type | Annual limit lifetime | Annual limit lifetime | Annual limit lifetime |
| Policy excess | £99 | £99 | £100 |
| Annual veterinary fee cover | £7,000 | £5,000 | £6,000 |
| 1-year-old mixed breed mongrel (monthly cost) | £33.40 | £20.12 | £25.79 |
| 5-year-old mixed breed mongrel (monthly cost) | £35.46 | £37.37 | £40.76 |
| 8-year-old mixed breed mongrel (monthly cost) | £53.15 | £43.40 | £60.11 |
| 1-year-old French Bulldog (monthly cost) | £127.92 | £49.43 | £90.74 |
| 5-year-old French Bulldog (monthly cost) | £135.84 | £91.84 | £143.37 |
| 8-year-old French Bulldog (monthly cost) | £203.59 | £106.37 | £211.47 |
(Quotes correct as of 16/02/24)
How much is cat insurance?
In the below table, we have gathered pet insurance quotes for two different cat breeds at a range of ages. The quotes in the below table are based on the following information:
- Male mixed breed cat (moggy) with no underlying health issues, who is microchipped, neutered and aged 1 year, 5 years and 8 years old and living in the South East
- Male Ragdoll cat with no underlying health issues, who is microchipped, neutered and aged 1 year, 5 years and 8 years old and living in the South East
All of the policies quoted in the below table are based on lifetime pet insurance as it is the most comprehensive pet insurance policy. The quotes are correct as of 14/08/23 and will vary depending on the policy you select, the provider, level of cover, where you live and the type, age and breed of your pet. If you would like to find out what else can affect the cost of pet insurance, read our article '7 factors that affect the cost of pet insurance'.
How much excess you have to pay will also affect the cost of your pet insurance policy and usually the higher the excess the cheaper your pet insurance premium. Some providers, such as ManyPets*, allow you to select a percentage co-payment in addition to your policy excess, which could further reduce the cost of your monthly premium as you are committing to paying more towards the veterinary fee cost when you claim.
For more information on the cost of other types of pet insurance, read our articles:
- Compare the best lifetime pet insurance
- Compare the best maximum benefit pet insurance
- Compare the best time-limited pet insurance
- Compare the best accident-only pet insurance
How much does cat insurance cost?
| ManyPets* | Animal Friends | Waggel* | |
| Policy name | Regular | Lifetime £5,000 | Waggel policy |
| Policy type | Annual limit lifetime | Annual limit lifetime | Annual limit lifetime |
| Policy excess | £99 | £99 | £100 |
| Annual veterinary fee cover | £7,000 | £5,000 | £6,000 |
| 1-year-old mixed breed moggy (monthly cost) | £24.49 | £19.71 | £20.60 |
| 5-year-old mixed breed moggy (monthly cost) | £18.84 | £23.73 | £24.25 |
| 8-year-old mixed breed moggy (monthly cost) | £24.22 | £29.46 | £30.37 |
| 1-year-old Ragdoll (monthly cost) | £32.70 | £18.55 | £21.40 |
| 5-year-old Ragdoll (monthly cost) | £25.16 | £22.32 | £25.19 |
| 8-year-old Ragdoll (monthly cost) | £33.34 | £27.71 | £31.56 |
(Quotes correct as of 16/02/24)
Cost of pet insurance by location
The cost of pet insurance differs depending on where you live. This is due to the varying living costs and veterinary fees across the UK. Typically, the cost of veterinary treatment in cities and larger towns is more expensive than those in more rural areas. This is largely down to higher maintenance, treatment costs and other factors such as staff wages.
In the below table, I have compared the cost of insurance quotes based on location using two different providers ManyPets* and Waggel*. The quotes include quotes for a 1-year-old mixed breed dog with no underlying health issues and a 1-year-old moggy cat with no underlying health issues and is based on the most comprehensive policy available.
Cost of dog insurance by location
| Breed (aged 1 year) | Policy type | Vet fee cover | Excess | Location | Cost |
| Mixed breed (dog) | ManyPets Complete policy | £15,000 | £99 | Kent | £42.46 |
| Mixed breed (dog) | ManyPets regular policy | £15,000 | £99 | Bristol | £46.32 |
| Mixed breed (dog) | Waggel Policy | £15,000 | £100 | Kent | £53.93 |
| Mixed breed (dog) | Waggel Policy | £15,000 | £100 | Bristol | £40.42 |
(Quotes correct as of 16/02/24)
Cost of cat insurance by location
| Breed (aged 1 year) | Policy type | Vet fee cover | Excess | Location | Cost |
| Moggy (cat) | ManyPets regular policy | £15,000 | £99 | Kent | £30.32 |
| Moggy (cat) | ManyPets regular policy | £15,000 | £99 | Bristol | £42.40 |
| Moggy (cat) | Waggel Policy | £15,000 | £100 | Kent | £39.70 |
| Moggy (cat) | Waggel Policy | £15,000 | £100 | Bristol | £73.19 |
(Quotes correct as of 16/02/24)
What affects the cost of pet insurance?
The cost of pet insurance can vary depending on a multitude of factors such as:
- Where you live - as the above table highlights, where you live in the UK can affect the cost of your pet insurance premium. This can be due to the varying cost of living expenses and veterinary treatment in each area.
- Type of pet - the type of pet you are trying to insure will affect how much your premium costs. Dogs are generally more expensive than cats to insure and outdoor cats are likely to cost more to insure than indoor-only cats.
- Breed of pet - the breed of pet you have will also affect the cost of your pet insurance premium. Some breeds, mostly pedigree, are more susceptible to certain conditions than mixed-breed pets.
- Age of pet - as your pet ages they are more likely to become ill and therefore your chances of claiming increase. This in turn can result in an increase in your pet insurance premium.
- Pet insurance policy type - the type of pet insurance policy you opt for will affect how much you pay each month. The more cover you choose to have for your pet, the more expensive your premium is likely to be.
For more information on how the cost of pet insurance can vary, read our article '7 factors that affect the cost of pet insurance'.
How to reduce the cost of pet insurance
If you think your pet insurance quote is expensive there are a few ways you can reduce the cost of your premium such as:
- Increase your excess - opting for a higher excess on your policy is likely to reduce your monthly premium as you are committing to paying a larger amount towards the cost of the vet fees. Remember that this amount you agree to is the amount you owe if you go on to make a claim and still needs to be affordable.
- Assess the level of cover - take a look at the premium you have and the type of cover. You could potentially reduce the amount of money your pet is covered for or you could opt for a less comprehensive policy. Remember that while this will reduce your monthly premiums, it could impact your ability to claim at a later date.
- Is your pet microchipped? - some insurance companies may reduce your premium if your pet is microchipped as it may be easier to locate your pet should it get stolen or go missing. From 10th June 2024 it will be compulsory in the UK for all pet cats to be microchipped, you can learn more about the new law here.
- Is your pet spayed or neutered? - spaying or neutering your pet reduces the risk of certain health conditions later in life. It also eliminates any health problems associated with pregnancy and birth.
- Do you have more than one pet? - If you have more than one household pet you may be able to benefit from a multi-pet discount.
- Shop around for the best deal - if you have not made a claim on your pet insurance policy you may wish to shop around for a better deal elsewhere and using a comparison site such as Quotezone* or MoneySuperMarket* is a good way to compare multiple policies at once. If you choose to shop around having already made a claim you may get a better deal, however, the condition you claimed for is unlikely to be covered by the new provider.
If a link has an * beside it this means that it is an affiliated link. If you go via the link, Money to the Masses may receive a small fee which helps keep Money to the Masses free to use. The following link can be used if you do not wish to help Money to the Masses - ManyPets, Waggel, MoneySuperMarket, Quotezone
