Owners have been advised to make sure they know exactly what their pet insurance policy covers in case their animal needs pet medication or emergency treatment in the future.
Neil Brettell, director of insurance provider PetPlan, told the BBC that if people pay a cheaper price for a policy, the benefits they receive will be less than those with a more expensive policy.
His comments follow a story of one woman, Carrie Daniel, whose dog started limping. She found that her policy would not cover his treatment and ended up paying out £4,500.
Mr Brettell told the news provider: "It may look as if you're saving money in the short term, but if your vet bills run away with you, a policy that costs more every month will probably pay out for most, if not all of those bills."
Last year, research by Co-operative showed that 64 per cent of pet owners do not have pet insurance. It also found that 29 per cent say they put off taking their animal to the vet because of the cost.