The Association of British Insurers has said its pet insurer members paid out £1.23bn in 2024. It said this was the third year in a row annual settlements had exceeded £1bn. The 2024 figure was up by 4% on the previous year and has more than doubled over the past decade. Claims for dogs accounted for £933m in 2024. Cats cost insurers £232m with £61m being paid out for claims relating to other animals.

Jonathan Purvis, senior policy adviser, general insurance at the ABI said: “You can’t pull a rabbit out the hat when it comes to paying for veterinary bills, so it’s promising to see more people making sensible choices to protect themselves and their pets financially.

“Insurance provides peace of mind that costs will be covered if your pet is ill or injured, allowing ‘pawrents’ to focus on caring for their pet at what is already a stressful time.”