Medibank Pet Insurance Review

Providing pet cover for dogs and cats, Medibank pet insurance allows pet owners to choose from three levels of cover to suit their needs and budget, with up to 80% back on eligible vet bills and an annual claim limit of up to $15,000. Medibank members also enjoy a 10% discount on their annual pet insurance premiums.

Who is Medibank?

As the largest private health insurer in Australia, Medibank is a well known provider, offering up a wide range of insurance options, including pet insurance.

Operating under the Medibank brand, Medibank pet insurance is administered by PetSure and underwritten The Hollard Insurance Company, which just so happens to be the largest provider of pet insurance in Australia.

Medibank Pet Insurance

Medibank pet insurance offers three levels of cover, provided to dogs and cats.

Essential Pet Care

  • Marketed as “great value cover for accidents and illness”
  • Covers illnesses and specified accidental injuries
  • Annual benefit limit of $4,000
  • Up to 70% back on eligible vet bills
  • $0 and $100 excess options
  • From 8 weeks old, with no upper age limit

Emergency Pet Care

  • Marketed as “cover for high value vet bills on specified accidental injuries and specified illnesses”
  • Doesn’t cover most smaller veterinary expenses
  • Annual benefit limit of $8,000
  • Up to 80% back on eligible vet bills
  • $0, $100 and $200 excess options
  • From 8 weeks until 9 years old (at the time of application)

Ultimate Pet Care

  • Marketed as “top comprehensive cover with optional routine and preventive care”
  • Covers comprehensive list of illnesses and specified accidental injuries
  • Annual benefit limit of $15,000
  • Up to 80% back on eligible vet bills
  • $0, $100 and $200 excess options
  • From 8 weeks until 9 years old (at the time of application)
  • Option to add Routine Care benefit

What’s covered under Emergency Pet Care exactly?

Here are some examples. For a full list, check the PDS.

  • Motor vehicle accidents
  • Burns or electrocution
  • Allergic reaction to a list of insect bites (excluding flea bites)
  • Ingestion of a foreign object
  • Poisoning
  • Bone fractures
  • Lacerations or abrasion of tissue, skin or mucous due to external violence
  • Anaphylactic shock
  • Paralysis tick bites
  • Cancer

What We Love

  • Intro Discount: As is often the case with large pet insurance providers, Medibank frequently provides intro offers on its pet insurance to attract new policyholders to apply. Check out our list of promo codes and discounts for the latest offers before signing up to make sure you get the best deal.
  • Multi-Pet Discount: Got more than one pet you want to cover? With Medibank pet insurance, you can benefit from 5% off any additional policies you sign up for with its multi-pet discount.
  • Medibank Member Discount: As a Medibank member, you can save even more on your pet insurance, with an ongoing 10% discount off your premiums each year.
  • Choice of Cover Level: As a larger provider, Medibank is able to offer a range of cover options, making it easier for you to chose the right level of cover for your pet. If you only need basic cover, you could opt for Essential cover, whereas if you’re more concerned with covering high value vet bills following an accident, Emergency cover may work better. Want a comprehensive level of cover? Ultimate may be your best bet.
  • Choice of Excess: With a range of excess options, Medibank pet insurance lets you choose whether you want to pay less on your premiums with a higher excess – or pay more on your premiums with a lower upfront cost on a no excess option.
  • Reimbursement Levels: With its range of cover options, Medibank allows you to choose how much you want to claim back on your vet bills. Opting for the lower cost Essential cover, you will get 70% back on eligible vet bills. With Emergency and Ultimate, you pay a bit more on your premiums to get 80% back.
  • Any Vet: You can visit any vet (other than yourself), who is licensed to legally practice as a veterinarian in Australia.
  • Cured Pre-Existing Conditions: While chronic (or ongoing) pre-existing conditions are not covered, Medibank pet insurance does offer cover on temporary pre-existing conditions that your pet has recovered from – and has shown no signs of in the previous 18 months.
  • Lifetime Cover: While Essential cover has no upper age limit (so it doesn’t matter what age your pet is when you start the policy), both the Emergency and Ultimate cover options limit pets’ starting age at nine years old. With that being said, as long as your pet is nine or under when you first apply, you can enjoy lifetime cover when you renew your policy each year without any break, lapse or change in level of cover.

What To Consider

  • Cost: While Medibank does offer a range of discounts on its pet insurance, its premiums are on the higher end of the scale compared to other pet insurance options. According to our survey of Australian pet insurance prices, Medibank’s premiums were above average.
  • Customer Service: Checking out Medibank pet insurance reviews on ProductReviews.com., customer service and claim coverage is not rated highly. With that being said, there are a number of happy customers that rate the company very highly. Be sure to do your own research before you apply.
  • Extras: With Ultimate cover, you have the option to add on the Routine Care benefit. Considering the extra cost of this add-on and the fairly limited cover it provides in return, it would be wise to weigh up your options before adding this extra to your cover. With the add-on, you can claim up to $165 per year on the cost of routine and preventive care (as follows).

$50 each year for any two of the following:

  • Vaccinations or health check
  • Council registration fees
  • De-sexing
  • Micro-chipping
  • Heartworm preventative medication
  • Teeth cleaning
  • Alternative therapies
  • Prescription diets
  • Dewclaw removal
  • Behavioural therapy
  • Obedience training
  • Cremation or burial

Plus annual benefits for:

  • Heartworm test or blood screen ($10 value)
  • FeLv/Fiv test or urinalysis ($10 value)
  • Flea/tick/worm control ($45 value)
  • Exclusions: As with any pet insurance, there are certain conditions and procedures that are excluded from cover on Medibank pet insurance. These include pre-existing conditions, dental procedures, routine or preventative treatments, elective procedures, behavioural problems, food and diets, pregnancy and grooming. There may also be specific exclusions which apply to each level of cover.
  • Waiting Periods: Again, waiting periods are common across the board. With Medicare pet insurance, the waiting periods are as follows:
    • No waiting period for motor vehicle accidents, burns, electrocution, bone fracture, snake bites, lacerations and more (see PDS).
    • 30 days for cancer, skin conditions, eye & ear conditions, ingestion of foreign object, poisoning, gastrointestinal problems, hereditary and congenital problems, tick paralysis and more (see PDS).
    • 6 months for cruciate ligament conditions
  • Sub-Limits: While each level of cover offered by Medibank pet insurance features an annual claim limit total, there are also sub-limits to consider. For example, each level of cover puts an annual claim limit of $2,600 for cruciate ligament conditions, and $300 for consultations and vet visits. For tick paralysis, there is a sub-limit of $1,000 per year with Essential cover, and $1,200 with Emergency and Ultimate cover.

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Mitch and Lu

I’m Mitch, and I’ve spent hundreds of hours researching pet insurance, meeting with pet insurance executives, and getting the opinions of vets and pet owners. I wanted to put out information on every pet insurance brand (that I know of), to provide a true overview of the many options available to pet owners.

All the information in this article was correct at the time of writing and may change over time. If you’re considering this product, be sure to review the Product Disclosure Statement so that you understand any terms, conditions and exclusions.

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