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New highs for pet insurance market

Statistics from Altmetric.com

By Georgina Mills

Pet insurers paid out a record-breaking £785 million last year, the Association of British Insurers (ABI) has reported.

This compares to £775 million in 2017, and £706 million in 2016.

The ABI said the rise is likely to have been caused by a ‘significant increase’ in average claim size, as prices increase with the sophistication of veterinary treatments available.

The average claim in 2018 was £793, an increase of £36 on the year before. However, the average premium for pet owners actually decreased for the first time in eight years, from £281 in 2017 to £279.

The ABI also reported that more people than ever …

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