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Santander UKRecorded a lower monthly payment than the renewal quote.
Confirmed monthly saving
£100/month
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The UK Pet Insurance Renewal Report 2026
How pet insurance renewal behaviour, rising treatment costs and cover continuity affect what owners pay before the next policy year begins.
What the data shows
Claims paid in 2024
Record claims paid
£1.23bn
ABI members paid a record £1.23 billion in pet insurance claims in 2024.
Source: ABI, 2024
Claims notified
Claims volume
1.8m
The ABI says 1.8 million pet insurance claims were notified in 2024, an all-time high.
Source: ABI, 2024
Insured pet owners
Market size
4.6m
The ABI says a record 4.6 million pet owners had insurance in 2024.
Source: ABI, 2024
Average claim cost
Average claim
£685
The ABI says the average pet insurance claim cost rose by 3% to £685.
Source: ABI, 2024
Renewal continuity
Lifetime cover
Lifetime cover
MoneySavingExpert says lifetime pet insurance covers ongoing conditions only if you keep renewing and do not cancel the policy.
Source: MoneySavingExpert
What is happening in pet insurance renewals
Pet insurance does not behave like a simple annual price check.
Renewal decisions are shaped by rising vet costs, the age of the pet, the cover type, and whether switching would leave existing or chronic conditions behind. The ABI says record claims were paid in 2024, while MoneySavingExpert says older pets usually cost more to insure and are harder to move to a new provider.
That makes pet insurance a strong Onremind category. The renewal is not just a cost decision. It is often a continuity decision.
Why pet insurance renewal still needs reviewing
Pet insurance is easy to leave untouched because owners are often worried about losing cover rather than just overpaying.
That is exactly why the renewal matters. If you have lifetime cover, MoneySavingExpert says you normally need to keep renewing with the same provider to preserve cover for long-term or chronic conditions that develop while the policy is in force. At the same time, renewal prices often rise as pets get older, and some policies add co-payments or tighter terms later in life.
So the decision is not simply whether to stay or switch. It is whether the renewal still offers the right balance of continuity, cover quality and cost before the date passes.
What pet owners should check before renewal
Check what type of policy you actually have
Lifetime, time-limited and maximum-benefit policies behave very differently at renewal.
Check whether ongoing conditions depend on renewing
Lifetime cover often only preserves cover for chronic conditions if the policy is renewed and not cancelled.
Check whether the premium rise is linked to age or claims terms
Older pets usually cost more to insure, and some policies become more restrictive as pets age.
Check for excess and co-payment changes
MoneySavingExpert says some policies require owners to pay 20% of treatment costs on top of the excess once a pet reaches a certain age.
Review before the policy rolls over
The renewal decision is easiest to miss when you are worried about losing cover and leave the policy to continue by default.
Related pages
Pet insurance renewal reminders
How Onremind protects you before the pet insurance renewal date.
Why pet insurance renewals often rise
Practical guidance on what to check before renewal.
Vet cost pressure: what it means before pet insurance renewal
Latest developments relevant to pet insurance renewal.
All insurance renewal reminders
See all insurance categories protected by Onremind.
Sources
- Association of British Insurers, pet insurance claims data for 2024
- Association of British Insurers, analysis of veterinary market cost pressure
- MoneySavingExpert, pet insurance cost and renewal guidance
- Financial Conduct Authority, classification of pet insurance as a general insurance product
Recorded outcomes
Real outcomes from Onremind users.
These figures come from outcomes people have recorded in Onremind.