Cancelling pet insurance

Want to cancel your pet insurance policy? No worries.

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😊 The good news: You're free to cancel your pet insurance policy whenever you want. The process and cost involved depend on when you cancel, but it's fairly straightforward either way.

😥 The bad news: You'll be out of pocket for any illness or injuries that befall your pet once it's no longer insured, and the costs can quickly add up.

Ready to cancel? Here's what you need to know:

  • If you're within the cooling-off period: Most policies have a cooling-off period of 30 days. If you cancel during this time and haven't made any claims, you will receive a full refund.
  • If you're outside the cooling-off period: You may not be entitled to any refund. However, depending on whether or not you've made a claim and when you pay your premiums, you may be entitled to a refund of the premium amount that covers the remaining period of insurance.There may also be a cancellation fee.

How to cancel your pet insurance policy

You'll need to submit your cancellation request in writing. This means that you'll need to post a signed cancellation request to your insurer, or you might be able to email or fax in your request. Most insurers won't allow you to cancel over the phone.

Fed up with your current insurer? Might be time to switch

Name Product Maximum yearly benefit Maximum yearly benefit Paralysis Tick Benefit Reimbursement rate Reimbursement rate Accidental Injury Illness
Guide Dogs Premium Care
$20,000
$20,000
$2,000
85%
85%
Helps support Guide Dogs Australia.
Woolworths Comprehensive Cover
$12,000
$12,000
$1,500
80%
80%
1 year free of VetAssist (value $199) with access to Australian vets online.
Knose Dog Cover
$25,000
$25,000
$25,000
70%, 80% or 90%
70%, 80% or 90%
Get cover for your pet.
Medibank Ultimate Pet Care
$15,000
$15,000
$1,200
80%
80%
15% off pet insurance. Plus the first month is free if your pet is 2 years old and under. Use promo code: PET2020. T&Cs apply.
Petsy Dog accidental injury and illness cover (Vet Select)
$25,000
$25,000
$1,500
100%
100%
Enjoy 2 months free and personalised pet tag with promo code: PETSYPET. Petsy members enjoy free personalised gifts, exclusive pet discounts and perks for humans.
PIA Major Medical Cover
$15,145
$15,145
$1,200
80%
80%
Get 2 months free when you sign up.
PetSecure Accident and Illness Cover
$12,000
$12,000
$500
75% or 85%
75% or 85%
Your pet is covered for life.
RSPCA Ultimate Plus Accident and Illness Cover
$20,000
$20,000
Up to $20,000 annual limit
80%
80%
Helps support the RSPCA.
Real Premium Accident & Illness Cover
$12,000
$12,000
$1,200
80%
80%
Pay fortnightly, monthly or yearly at no extra cost.
Australian Seniors Top Accident & Illness Cover
$12,000
$12,000
$1,200
80%
80%
If you're over 50 get 10% off.
Prime Sovereign Accident & Illness Cover
$14,000
$14,000
$1,200
85%
85%
With guaranteed renewal you can protect your pet for life.
Guardian Platinum Accident & Illness Cover
$12,000
$12,000
$1,200
80%
80%
No joining fee to pay.
Bow Wow Meow Ultimate Care Plan
$20,000
$20,000
$3,000
80%
80%
Join in January to save 25% off premiums for life with code 25FORLIFE. T&Cs apply.
Vets Choice Elite Cover
$15,000
$15,000
$2,500
100%
100%
Get a 5% discount when you insure more than one pet.

Compare up to 4 providers

What should I consider when cancelling my policy?

Keep the following points in mind if you are thinking of cancelling pet insurance:

  • Cancellation fees. If you cancel your policy for any reason other than the death of your pet, you may be charged a cancellation fee. Make sure you’re aware of how much this fee is before pulling the plug on cover.
  • Lifetime cover eligibility. Many insurers will only offer cover to pets that are under nine years of age when you first take out cover. Your pet will then be covered for life once you have a policy in place, but if you choose to cancel cover you may not be able to re-insure your pet at a later date.
  • Multi-pet discounts. Most insurers offer a multi-pet discount when you insure more than one pet. Cancelling cover for one pet could increase the cost of cover for your other pet.
  • Cancellation in writing. It’s important to remember that pet insurance policies are usually only able to be cancelled in writing. If you don’t submit a cancellation request via your insurer’s accepted communication channels, you will need to keep paying premiums.
  • You could lose money. Depending on circumstances you may not be eligible for a refund, and you may need to keep paying premiums for the remaining period of insurance. You may be better off cancelling cover near the end of the insurance period rather than while you still have several months of cover that are already paid for.

Watch this before you cancel your policy

Why do people cancel their pet insurance?

There are several reasons why you might want to cancel your pet insurance policy, such as:

  • You can no longer afford cover. If your financial circumstances take a turn for the worse and you need to cut back on expenses, you may decide you can’t afford to continue paying pet insurance.
  • You want to switch to a different insurer. You might find a better level of cover elsewhere and choose to cancel your current policy and switch to a new insurer.
  • You no longer want cover. You may decide the benefits your pet insurance offers are not worth the cost of premiums and that you don’t want to continue paying for cover.
  • Your pet dies. If your dog or cat has passed away, there is obviously no reason to continue paying pet insurance premiums for that animal.

Can I cancel my pet’s policy at any time?

Yes, there are no restrictions on when you can cancel your pet insurance policy; you are free to do so at any time. However, whether or not you are eligible for a refund will depend on your individual circumstances.

If you cancel during your policy’s cooling-off period and you have not made any claims, you will be entitled to a full refund.

If you cancel after the cooling-off period, your eligibility for a refund depends on your premium payment schedule and whether or not you have made a claim. If you have paid your annual premium in full and have not made any claims, the portion of the premium that covers the remaining period of insurance will be returned to you. On the other hand, if you have chosen to pay your premium fortnightly or monthly, you may need to continue paying premiums for the remaining period of insurance.

If you cancel your policy having already made a claim, you will typically have to continue paying premiums for the remaining period of insurance, regardless of when you pay them.

What can I do instead of cancelling?

Instead of cancelling pet insurance, you may want to consider the following options:

  • Choose a lower level of cover. This will ensure that you still have a certain level of protection in place to help you cover unexpected vet bills, but your premiums will be more affordable.
  • Switch insurers. If you’re not happy with the level or cost of cover provided by your current insurer, switching to a new provider may be the perfect solution. However, this may mean that you’re not eligible for any premium refund from your current insurer. Compare a range of policies to find the right cover for your dog or cat.
  • Choose a higher excess. If you’re willing to pay a higher excess, you may be able to access cheaper premiums.

Choosing one of the above alternatives could help you maintain the cover your dog or cat needs, but make sure to consider all options carefully before deciding on the best way to cover your pet.

Looking for other options? Compare pet insurance policies


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