The true cost of protecting your pet

Pets bring plenty into our lives: cuddles, companionship and – occasionally – a suspicious amount of fur on everything you own. But looking after them comes with costs too, from routine care to the vet bills you weren’t expecting. Having an emergency fund can give you a buffer for surprise costs. Pet insurance is another way to protect yourself, but the price can vary a lot depending on your pet.

We analysed more than 400 insurance prices across over 100 pet breeds and species to find out:

We also asked more than 2,000 pet owners about their own experiences, including:

Dachshund or Great Dane? Some people know exactly which pet they want. But for others, the cost of insuring them could play a part in the decision.

More than three quarters (78%) of pet owners we surveyed knew that breed can affect insurance premiums. And nearly two thirds (64%) said significantly higher insurance costs could make them reconsider which breed to get.

That varied depending on where people lived. Among pet owners in each region, respondents in the East Midlands (73%), Greater London (71%) and the North West (69%) were most likely to reconsider their choice of breed due to higher insurance costs. Cost appeared to have less influence in Northern Ireland (52.9%), the South West (55.9%) and West Midlands (58.1%) – although more than half of owners in each still said higher premiums could make them think twice.

So, which pets cost the least to insure? Of the species we analysed, reptiles slithered into the top spot, costing an average of £167.95 a year to insure. Hamsters and rabbits followed at £201.84 per year, while horses had the highest average premiums at £1,936.97.

Looking beyond just species, insurance costs can also vary between breeds. Slow and steady wins the race, with a Hermann’s Tortoise taking the top spot as the cheapest pet breed overall to insure, at just £166.80 per year.

When it comes to dogs, the breed you choose can make a big difference to the cost of insurance. Of the breeds we analysed, Cavapoos were the cheapest to insure, with an average annual premium of £182.22. At the other end of the lead, an English Bulldog cost £771.18 on average, a difference of nearly £589 per year.

There’s a price difference between cat breeds, too. Of the breeds we analysed, Ragdolls were cheapest to insure, at an average of £207.37 a year. Maine Coons landed on their paws at the pricier end, averaging £334.09 a year – a difference of nearly £127.

Not every horse breed comes with the same insurance bill either. A Shetland Pony was the cheapest to insure at £1,323.60 per year, while a Thoroughbred topped the table at £2,291.04.

There was much less difference among the reptiles, rabbits and hamsters. Hamster and rabbit insurance costs remained consistent across the breeds analysed, while reptile premiums differed only slightly, from £166.80 for a Hermann’s Tortoise to £168.24 for a Corn Snake.

Pet insurance isn’t the only way owners prepare for unexpected vet bills. A third (33%) of the owners we surveyed didn’t have pet insurance. Of those, 26% said they preferred to save for unexpected vet bills instead, while 22% said they didn’t feel insurance was necessary.

For owners who choose to save, keeping that money separate can make it easier to see what’s set aside. Using a Monzo Pot, for example, gives that money its own space, separate from everyday spending.

Pet insurance can help cover the cost of eligible vet bills, but premiums can change over time. Of the owners we surveyed with insured pets, 79% said their premium had gone up when renewing their policy.

For many, a higher renewal price prompted them to look at their options:

With prices and cover varying between policies, our findings show that many pet owners compare their options when renewal time rolls around.

Some pet costs are easier to see coming than others. Food, insurance and annual check-ups tend to be regular fixtures, while an unexpected trip to the vet can be much harder to plan for.

When we asked owners how they’d cover an unexpected £1,000 vet bill, there wasn’t one clear answer. 36% said they’d use savings, 35% would rely on pet insurance, and 32% would use a credit card.

The results show there are plenty of different ways pet owners cover unexpected costs. Some set money aside, while others rely on insurance or credit. 

From annual vaccinations to a surprise visit to the vet, the cost of looking after a pet can vary massively. Knowing what you regularly spend – and what unexpected costs might crop up – can make it easier to keep track of the bigger picture.

If you choose to put money aside for future pet costs, Monzo Pots let you separate your pet budget from your everyday spending. You can give your Pot a name (yes, “Emergency vet fund” works) and add to it whenever you want.

Because whatever your pet has planned next, your bank balance probably isn’t in on it.

Monzo account required, 18+ UK residents only, eligibility and Ts&Cs apply. 

Credit cards: Missed payments may negatively impact credit scores. 

Savings: The taxes you pay depend on your circumstances and could change in the future. 

Research Methodology

Consumer research: Research was conducted by Censuswide, among a sample of 2,000 UK respondents. The data was collected between 25th August and 28th August 2026. Censuswide is a member of the Market Research Society (MRS) and the British Polling Council (BPC), and a signatory of the Global Data Quality Pledge. We adhere to the MRS Code of Conduct and ESOMAR principles. 

Desk research: Monzo first used publicly available sources to identify seed lists of popular/common UK breeds or species within each pet category. The sources used to build these seed lists were:

Monzo gathered pet insurance quotes for each breed or species on the relevant list to compare the potential cost of cover. Quotes were sourced from MoneySuperMarket for dogs and cats, Agria for horses, and Exotic Direct for rabbits, hamsters and reptiles. The desk research was conducted between 1 August and 26 August 2026..

Disclaimer: Pet insurance costs can vary depending on a range of factors, including the individual pet, location, age, level of cover and policy details. The figures shown reflect the quotes gathered as part of this research and are intended for comparison purposes only.