Vet prices have risen at nearly twice the rate of inflation, according to a vet watchdog investigation from the Competition and Markets Authority
Vets could be asked to be a lot more transparent regarding their price lists, under proposed reforms from a consumer watchdog.
According to an investigation from the Competition and Markets Authority (CMA), vet prices have risen well above inflation. As for how much pet owners are forking out? The CMA found that they could be paying 16.6% more on average at large vet groups than independent vets.
Following the investigation, the CMA has unveiled a proposal for major reforms, which would include vets being asked to publish price lists so pet owners can see costs up and front. The changes could have an impact on pet insurance premiums too; at the moment, insurance prices are affected by a vet’s pricing, which can vary significantly. Under the proposed changes, insurance companies would have a predicted cost, and price policies based on those caps.
Other proposals include requiring vets to tell pet owners about savings they can make by buying medication online, and automatically providing written prescriptions where frequent medication would be needed so owners can buy these elsewhere if they choose, not to mention capping prices at £16 on these prescriptions.
The CMA has opened a consultation on the proposed reforms, with a deadline of November 12, 2025, for parties who wish to respond to the plans. The full impact on the cost of pet insurance isn’t yet clear. Still, there’s no denying that pet insurance remains hugely important for pet owners, or they could risk some hefty fees if their animal gets sick or has an accident.
Earlier this year, a Quotezone survey found that 42% of Brits had to self-fund the cost of treatment after their insurance policy wouldn’t cover it. In fact, those opting for lower levels of protection could be susceptible to big fees. It comes as pet insurance prices have been skyrocketing across Europe, with Brits feeling the effects.
If you’re not sure whether your current pet insurance policy is right for your needs, Mirror Switch and Save has partnered with Quotezone.co.uk to help UK pet owners compare pet insurance policies, and find the right deal for you and your pet.
Reach Publishing Services Ltd. is an Introducer Appointed Representative of Seopa Ltd. who are regulated by the Financial Conduct Authority, FRN: 313860. Seopa Ltd. own and operate the insurance comparison service. Mirror Switch & Save earns a commission for each policy purchased, at no cost to you. We do not provide financial advice.