The latest knowledge on pet insurance coverage premiums from Pearson Ham;

Pearson Ham Group’s Pet Insurance Price Index reveals that pet insurance coverage pricing has returned to average progress, halting the reductions seen within the first quarter of the 12 months. The prime 5 priced insurance policies for Lifetime cowl, probably the most sought-after type of pet insurance coverage, elevated by 0.7% in June, making costs 12% larger than this time 12 months in the past.

Regional disparities are evident, with the North East seeing the biggest month-to-month enhance in June at 1.5% and the very best year-on-year enhance at 18%. Northern Ireland is the one area to see a lower in insurance coverage pricing, with a -0.7% drop. The South West noticed the bottom enhance within the month at 0.2%.

Insurance pricing motion by area

Region Monthly Movement 12-Month Movement

East Midlands

0.6%

13%

East of England

1.1%

8%

London

0.8%

7%

North East

1.5%

18%

North West

0.9%

13%

Northern Ireland

-0.7%

7%

Scotland

0.8%

15%

South East

0.7%

10%

South West

0.2%

8%

Wales

0.3%

13%

West Midlands

0.6%

10%

Yorkshire and The Humber

1.0%

13%

Stephen Kennedy of Pearson Ham Group, stated:

“Price reductions in pet insurance premiums observed after the CMA announced an investigation into veterinary practices have been short lived. This shift may be due to increased veterinary costs and a rise in claims frequency, which have started to push prices up again. As these cost pressures continue to impact the market, pet insurance prices may well return to sustained upward pressure.”



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