Analysis

Navigating the rising costs and challenges of pet insurance

By 2025-01-31T07:00:00

pet insurance prices

‘The lack of standardised pricing’ in the pet insurance market ‘makes it difficult for insurers to forecast claims and for customers to understand costs’, says new trade association founder

Pet insurance, once seen as a niche product, has become a major business line in UK general insurance, spearheaded by pet ownership – and the cost to owners of looking after those pets – rising dramatically in recent years.

Yet rising premiums is just one of many challenges facing this line of business – it is also contending with claims inflation, customer dissatisfaction and systemic issues within the veterinary sector.

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