Dog owners can save 300% on pet insurance with breed and location choices

Pet lovers are being urged to think twice before choosing a breed, as new figures reveal the cost of insurance can vary by hundreds of pounds a year - depending on both the animal and the owner's postcode.

Data from Go Compare shows that dog insurance premiums can differ by up to 300%, while the cost of insuring a cat can vary by as much as 241%, simply based on the breed. Unsurprisingly, pedigree pets come with a higher price tag. Pedigree dogs cost an average of £13.13 per month to insure, compared to £7.90 for mongrels.

Owners of larger breeds are particularly affected, with Bernese Mountain Dog policies costing a hefty £27.36 per month, more than three times the cost of insuring a chihuahua (£7.46), Sky News reports.

Cats show similar trends. The Alpaca LaPerm - the UK's most expensive cat to insure - comes in at £22.19 a month, while a tortoiseshell British Shorthair averages just £6.51.

But it's not just the breed that affects the bill - where you live matters too. London pet owners face the highest average monthly premiums at £13.47, while those in Wales pay the least, at £9.61.

Across the rest of the UK, premiums average £11.34 in England, £10.75 in Northern Ireland, and £9.99 in Scotland.

There is some good news. Average monthly premiums for dogs have dropped 12% in the last year, while cat owners are paying 3% less than they were 12 months ago.

Experts say there are several simple ways for owners to reduce their premiums further:

• Increase the excess: Higher voluntary excess usually means lower monthly payments.
• Opt for a multi-pet policy - Discounts are often available when insuring more than one animal.
• Pay annually - Annual payments can be cheaper than monthly instalments.
• Negotiate - Long-term customers may be able to secure a better deal by threatening to switch

With insurance bills differing so dramatically, the choice of pet - and even your address - could end up costing or saving you hundreds over the course of a year.