This article explains renewal rise with no claims in plain English, so UK pet owners can understand the question being answered before comparing policies or reading the small print.
Yes, unfortunately it is. That's not to say it isn't annoying, because it absolutely is. But a significant premium increase at renewal, even with no claims, is pretty standard across the pet insurance market right now and there are a few reasons why.
Age is the biggest one
Pet insurance premiums are closely tied to your pet's age. Every year that passes, your dog or cat becomes statistically more likely to need veterinary treatment, and insurers price for that. A four year old dog costs more to insure than a three year old dog, and that gap tends to widen the older they get. This happens regardless of whether they've ever claimed.
Vet costs are going up
The cost of veterinary care in the UK has risen significantly over the past few years. When claims cost more, insurers adjust their prices to reflect that. Even if you personally haven't claimed, the overall cost of claims across all policyholders feeds into how premiums are set, and that affects everyone's renewal.
"A significant premium increase at renewal, even with no claims, is pretty standard right now and there are a few reasons why."
What can you do about it?
First, it's worth calling your insurer and asking if there's anything they can do. Some will offer a small reduction if you ask, particularly if you've been with them for a while. It's not guaranteed but it costs nothing to ask.
Second, get some comparison quotes so you know what else is out there for your dog at their current age. Just bear in mind that switching to a new insurer means any conditions on your dog's records could be treated as pre-existing, so the comparison isn't always straightforward.
Third, check whether you actually need the same level of cover you have now, or whether there's a version of the same policy with a slightly higher excess that would bring the premium down to something more manageable. A higher excess in exchange for a lower monthly cost can make sense if your dog is healthy and you could absorb a moderate claim cost yourself.
What not to do
A cancellation before replacement cover starts can create a gap in cover. A gap in cover can create complications if you then try to get insured again, particularly for anything that came up in the meantime. A lower premium is only one part of the overall policy picture.
This article is for general information only and does not constitute advice of any kind.