Is Pet Insurance Worth It?
Quick answer
It depends on whether you could pay a large vet bill yourself. The ABI says UK insurers paid a record £1.23 billion on 1.8 million pet claims in 2024, an average of £685 a claim, and that some treatments cost far more: elbow dysplasia can exceed £50,000. NAPHIA puts the average US accident and illness premium at $62.44 a month for a dog and $32.21 for a cat. Most policies exclude conditions your pet already has, so the decision is best made early.
From the ABI, NAPHIA and PDSA. Not veterinary or financial advice. Worried about your pet now?
On this page (6 sections)
What insurers actually pay out
The Association of British Insurers reports £1.23 billion paid in 2024 across 1.8 million claims, both records, with an average claim of £685 (up 3%) and 4.6 million owners insured. Its examples of expensive treatment: over £50,000 for elbow dysplasia, and around £4,000 for a pet that ate something poisonous such as chocolate or raisins. Source: Association of British Insurers, Insurance payouts for pawly pets top £1 billion for third year in a row (2025).
What it costs
NAPHIA's 2025 report gives average US accident and illness premiums of $749.29 a year for a dog and $386.47 for a cat, based on 2024 data. Details by country: how much does pet insurance cost? Source: NAPHIA, North American pet health insurance market reaches $5.2B in written premium (State of the Industry 2025, 22 April 2025).
How to weigh it up
PDSA notes that vet bills can run into thousands of pounds. The questions that decide it for most owners:
- Could you pay a bill of several thousand at short notice? If not, insurance turns a large, sudden cost into a regular one.
- What would the policy actually pay? The type of cover matters more than the premium: PDSA describes lifetime, maximum benefit, time-limited and accident-only cover, which pay out very differently for a long-term condition. See pet insurance explained: the four types.
- What would you pay yourself? The excess and any co-payment come off every claim: excess and co-payments explained.
- Does your pet already have a condition? PDSA says most policies do not cover pre-existing illnesses or injuries: pre-existing conditions explained.
Source: PDSA, Pet insurance guide.
If you choose not to insure
Some owners put a set amount aside each month instead. That works only if the fund is big enough before a large bill arrives, which the ABI's examples show can be soon and expensive. Whichever you choose, our vet costs guide explains what drives a bill and what to ask for. Source: Association of British Insurers, Insurance payouts for pawly pets top £1 billion for third year in a row (2025).
This page is not financial advice. We do not recommend insurers and take no commission.
Questions people ask
Is pet insurance worth it?
It depends on whether you could pay a large vet bill yourself. The ABI says UK insurers paid an average of £685 a claim in 2024, and some treatments cost far more, such as over £50,000 for elbow dysplasia. Insurance is usually best decided early, because most policies exclude conditions a pet already has.
How much do pet insurers pay out?
The Association of British Insurers says UK insurers paid a record £1.23 billion across 1.8 million pet claims in 2024, an average of £685 a claim.
Does pet insurance cover existing conditions?
PDSA says most pet insurance policies do not cover pre-existing illnesses or injuries, so it advises taking out cover as early as possible.
Sources
- Association of British Insurers, Insurance payouts for pawly pets top £1 billion for third year in a row (2025), read 7 November 2026.
- NAPHIA, North American pet health insurance market reaches $5.2B in written premium (State of the Industry 2025, 22 April 2025), read 7 November 2026.
- PDSA, Pet insurance guide, read 7 November 2026.
Related pages
How much does pet insurance cost?, the four types of policy, excess and co-payments, pre-existing conditions and all pet cost pages.