Figures from Pearson Ham’s latest Pet Insurance Pricing Index show that lifetime cover premiums levelled off in December, after significant dips the previous month, to the end the year at a comparable level to where they were 12 months previously. Significant inconsistency in pricing remains regionally.

Frances Luery, product manager at Pearson Ham Group, said: “2024 has been a year of contrasts in the pet insurance market. The sharp fall in November stands in stark contrast to the persistent increases earlier in the year, underscoring a shift in how insurers are approaching Lifetime cover pricing.

“The regional and pet-specific trends point to an increasingly nuanced market. London pet owners have seen the greatest benefit from falling premiums, while cat owners nationwide are feeling the pinch.”