Pet owners lose trust in insurers as customers question fairness of policies and value for money
Pet owners are increasingly losing confidence in insurance companies, as customers question whether their policies are fair and offer value for money.
New research reveals satisfaction with insurance companies dropped from 4.81 to 3.27 out of 5 from last year.
Pet owners were the most irate with their insurance providers as satisfaction plummeted to 2.71 out of 5 from 4.35, according to Smart Money People. Just 41.9 per cent of pet insurance customers feel they are being treated fairly, down from 81.1 per cent in 2025.
And there are now more unhappy policyholders than satisfied ones for the first time, with pet insurers scoring just 50.8 out of 100 on the new Insurance Fairness Index - compared to the market average of 63.3.
However, the index reveals that satisfaction with insurance companies has plummeted across the market.
Fewer people think that insurance represents good value for money, with just over half of Britons thinking they are being treated fairly by firms.
Pet owners were the most irate with their insurance providers as satisfaction sank to an abysmal 2.71 out of 5 from 4.35
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Peer Jelendorf, CEO of Smart Money People, said there had been a 'fundamental shift in how customers judge their insurance provider.
'It’s no longer just about whether a claim gets paid or a call gets answered – customers want to feel that the overall deal is fair.
'The Insurance Fairness Index shows that customers understand their policies, but that understanding is making them more critical, not less. They can see what they’re paying, and increasingly they’re asking whether the value matches up.'
Last month, the competition regulator ruled that vets would have to cap prescriptions and publish price lists as part of 11 final reforms that will take effect later this year.
It followed an investigation in which the Competition and Markets Authority (CMA) criticised the veterinary industry for hiding fees, confusing pricing models and a lack of competition, leaving families routinely overpaying for medicines and treatments.
Vet prices are also soaring – up by 63 per cent between 2016 and 2023, which is well above inflation.
How pet owners can protect themselves from soaring costs
Pet policies have been found to be riddled with exclusions that meant some services and treatments were not covered.
Among the most common things to watch out for are dental work, emergency boarding if something happens to you and you are temporarily unable to look after your pet, burial and cremation costs, and behavioural issues.
If these are not covered under your policy and you would prefer to have them for peace of mind, you may be able to ask your insurer to add them on at a cost.
Burials require about £250 to £800 in pet graveyards, depending on the size of your animal. However, you are allowed to bury them in your back garden provided you own it and the site is clear of any water sources, underground cables or pipes.
Dental costs for pets can be very high, too. Removing a single dog tooth, for example, can cost anywhere from £50 to £300.
So, if your animal’s breed is prone to having bad teeth – such as greyhounds or Siamese cats – dental cover could save you money.
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