British pet owners claimed a record-breaking £1.23 billion on their pet insurance policies in 2024, new figures from the Association of British Insurers (ABI) reveal — the highest amount ever recorded in the UK. The soaring costs reflect both rising veterinary fees and the growing popularity of pet insurance as more households protect their beloved animals against unexpected medical expenses.
According to the ABI, its member companies handled an average of 4,900 claims per day, totalling 1.8 million claims over the course of the year. Dogs accounted for the lion’s share of the payouts, with £933 million in claims, while cats followed with £232 million. The remaining £61 million covered insurance claims for other pets, including rabbits, birds, and exotic species.
The total represents a 4% increase on 2023’s figures and marks the third consecutive year that payouts have exceeded £1 billion — highlighting both the increasing cost of care and the crucial role insurance now plays in pet ownership.
More Britons are also insuring their animals than ever before. A record 4.6 million pets were covered by insurance in 2024, a 3% rise on the previous year, and a 33% increase since 2019, just before the coronavirus pandemic. The pandemic saw a boom in pet ownership, as households sought companionship during lockdowns — a trend that has had a lasting impact on the pet care market.
Veterinary costs on the rise
The ABI notes that while the average claim cost stood at £685, some treatments can run into the thousands — or even tens of thousands — of pounds.
For example, treatment for elbow dysplasia, a common condition in large and giant breed dogs that causes significant lameness, can cost over £50,000, depending on the complexity of surgery and length of rehabilitation required.
Even more routine issues can be costly. When pets ingest something they shouldn’t — whether it’s chocolate, grapes, a corn cob, or a child’s toy — the average veterinary bill comes in at around £4,000. Emergency surgery and overnight care often contribute to these high totals.
With veterinary prices continuing to rise, many owners are finding insurance to be a lifeline. It ensures they’re not forced to make difficult decisions about their pet’s health based solely on financial constraints.
Financial protection and peace of mind
Jonathan Purvis, senior policy adviser for general insurance at the ABI, stressed the importance of insurance for modern pet owners.
“You can’t pull a rabbit out of the hat when it comes to paying for veterinary bills,” he said. “So it’s promising to see more people making sensible choices to protect themselves and their pets financially.
Insurance provides peace of mind that costs will be covered if your pet is ill or injured.”
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With inflation affecting household budgets across the board, unexpected veterinary bills can be a significant burden. The ABI urges pet owners to shop around for policies that suit their pet’s needs and to check exactly what’s included — some basic policies may exclude pre-existing conditions or limit cover for dental or chronic issues.
Looking ahead
Experts expect pet insurance uptake to continue rising in 2025, particularly as more first-time pet owners — many of whom acquired animals during the pandemic — encounter the realities of long-term care.
Meanwhile, insurers are investing in more tailored offerings, including wellness packages and support for managing chronic conditions like diabetes and arthritis, in a bid to meet demand and provide better value.
As the UK’s love affair with animals shows no sign of waning, pet insurance is becoming a household essential — and, as these latest figures suggest, a necessity for the growing cost of keeping our furry friends fit and well.
