Data from Pearson Ham Group’s latest Pet Insurance Pricing Index shows that the average premium for lifetime pet cover rose by 1.8% during Q3. On an annual basis, average premiums are up by 7.7%. Since the start of the year, average premiums for time limited and max benefit policies have risen by 12% and 13% respectively.

Frances Luery, product manager at Pearson Ham Group, said: “The overall trend remains upward for pet insurance premiums over the past year. Despite the CMA’s investigation, which may influence the veterinary sector, premium growth persists. We anticipate further developments in the coming months that could impact pet insurance pricing.”