With increasing veterinary costs, finding the best pet insurance for your cat or dog should be a priority to help manage rising veterinary costs and defray unexpected veterinary costs in case of emergencies, accidents, or illnesses like cancer and kidney disease.

Medibank offers policyholders comprehensive and customizable coverage choices for pet parents. Their Pet Max plan has an annual limit of $30,000, up to a 90% reimbursement rate, and you get to choose the level of excess: $0, $100, or $250. There is also no sub-limit for cruciate ligament conditions, tick paralysis, hip joint surgery, and consultation fees with the Pet Max Plan.

Medibank Pet Insurance Review

Medibank is an award-winning pet insurance company that has covered as many as 257,000 Australian pets since 2009. You can also select additional non-insurance benefits, get coverage for emergency boarding, and access the myPetPassTM rewards program, including Live Vet Support and GapOnly® claims. 

The takeaway with Medibank Pet Insurance is that it has been the recipient of multiple prestigious awards in the pet insurance sector, including Mozo Expert’s Choice in 2024 for their most generous benefits, Canstar in 2023 for Outstanding Value, and We Money Winner and Finalist in 2024. 

The Mozo Expert’s Choice is awarded to pet insurance policies that offer the best coverage and benefits, irrespective of price. Medibank Pet Insurance stands out for its most generous Pet Max and Pet Plus benefits.

Who is Medibank?

Medibank is a top-ranking health insurance company with a 47-year history as one of Australia’s leading health insurers. Policyholders can receive up to a 90% reimbursement rate. 

“Better Health for Better Lives” reflects Medibank’s commitment to improving the health and well-being of people and their pets. Medibank also offers private and corporate health insurance for Australian residents, overseas students, and visitors. 

Medibank Pet Insurance Insurance Coverage

Medibank has a generous yearly benefit of up to 30,000, including holistic alternative therapy for cats and dogs. Medibank Pet Insurance allows you to choose your excess of $0, $100, or $250 and opt for additional benefits like Routine Care (non-insurance benefit) or Extra Care (included with Pet Max). If you want insurance for more than one pet, you’ll enjoy a 5% discount on premiums for each additional cat or dog covered.

• Three plan options: Pet Max Plan, Pet Plus, and Pet Protect
• Reimbursement rate: Up to 90% with the Pet Max plan
• Dental Cover- included benefit with the Pet Max plan or as an add-on via Extra Care with Pet Plus and Pet Protect
• Maximum age- 9 years
• Claims up to $30,000 with the Pet Max Plan

3 Levels of Coverage

With Medibank’s affordable cat and dog insurance, for example, you’ll have the option of annual benefits from $10k to $30k, and you can claim from 70% to 90% on eligible veterinary bills. Their customizable plans are budget-friendly. Their Pet Plus plan, a mid-tier option, extends coverage to include illnesses like cancer and broken bones.

Medibank pet insurance offers three levels of coverage to help you manage skin and coat allergy conditions, medical emergencies, and even holistic care. 

• Routine Care: This is an add-on with a $50 annual benefit for two routine care items: teeth cleaning, cremation, and desexing. It even includes obedience training.
• Pet Max- Top coverage with extra care and annual limits of $30,000. This includes extra care benefits of up to $2000 per annum.
• Pet Plus-Pet protection has higher limits, with claims up to $25,000 annually.
• Optional Extra Care Benefit: Up to $2,000 limit per annum (in addition to your annual benefit limit). 
• Pet Protect-Covers specified accidental injuries and illnesses and annual limits of $10,000.
• Optional Extra Care Benefit. Up to $2,000 limit per annum (in addition to your annual benefit limit)

Annual Limits Per Level

Pet Max Cover With Extra Care

• Annual policy limit: $30,000 per year
• Eligible Vet Bills: Up to 90% back
• Coverage: Illnesses and injuries
• Sub-limits: No sub-limit for cruciate ligament conditions (it’s like an ACL injury for cats & dogs)
• No sub-limit for tick paralysis
• No sub-limit for hip joint surgery
• No sub-limit for consultation fees
• Extra Care benefit included. Up to $2,000 limit per annum (in addition to your annual benefit limit).†

Pet Plus+ Cover (Mid-Tier Option)

• Annual policy limit: $25,000 per year
• Eligible Vet Bills: Up to 80% back
• Coverage: Illnesses and injuries
• Sub-limits: No sub-limit for cruciate ligament conditions (it’s like an ACL injury for cats & dogs)
• No sub-limit for tick paralysis
• No sub-limit for hip joint surgery
• No sub-limit for consultation fees
• Extra Care benefit included. Up to $2,000 limit per annum (in addition to your annual benefit limit).†

Pet Protect Cover

• Annual policy limit: $10,000 per year
• Eligible Vet Bills: Up to 70% back 
• Coverage: Illnesses and injuries
•  Sub-limits: $4,000 for cruciate ligament conditions (it’s like an ACL injury for cats & dogs)
• Sub-limits: $4,000 for tick paralysis
• Sub-limit: $4,000 for hip joint surgery
• Sub-limit:  $400 for consultation fees
• Optional Extra Care benefit. Up to $2,000 limit per annum (in addition to your annual benefit limit).

Other perks include the following:

• Fortnightly, Monthly, or Annual Premium Payment Options: Medibank offers three flexible payment options to suit your budget and lifestyle.
• No Sub-Limits: This includes cruciate ligament conditions, tick paralysis, hip joint surgery, and consultation fees.
• Hereditary and Congenital Conditions Covered: If pets have not shown noticeable signs or an abnormality before the start date of the first policy period or during the applicable waiting period.
• High Claim Coverage: The insurer reimburses up to 90% of covered veterinary costs for dogs and cats. The coverage includes various illnesses and injuries, emergency boarding, hospitalization, after-hours emergency surgery, and specialist care.
• Short Waiting Periods: 0 Days for accidental injuries, routine care items, emergency boarding, and 30 days for illnesses.
• Award-Winning Pet Insurance: Medibank Pet Insurance is the recipient of Mozo’s 2024 Experts Choice Award for Exceptional Quality Pet Insurance for Pet Plus and Pet Max. Medibank has also been awarded Canstar’s 2023 and 2024 Outstanding Value Pet Insurance with Routine Care award and is the Winner of WeMoney’s 2024 Award – Best For Value (Routine Care) – Pet Insurance and 2024 Finalist for Best For Flexibility – Pet Insurance.
• Velocity Travel Rewards: As a Velocity Frequent Flyer member, you can earn Velocity Points when you take out a Medibank Pet Insurance Policy.

Discounts & Flexible Options

• Get Your First Month Free: Sign up for Medibank Pet Insurance using promo code 1FREE and get your first month’s premium free.
• 10% Discount: All Medibank members get a 10% discount on pet insurance
• 5% Multi-Pet Discount: Insure more than one pet and save.
• Choice of Excess: Medibank pet insurance allows you to choose whether to pay less on your premiums with a higher excess or pay higher premiums with a lower upfront cost.
• Low Cost: Medibank helps pet owners keep costs down when they purchase pet insurance.
• Flexibility: You can customize your premiums by choosing between different deductibles and coverage limits.
• Orthopedic Conditions Covered: No sub-limit for cruciate ligament conditions with Pet Max Top Care and Pet Plus +. There’s a $4,000 sub-limit for cruciate ligament conditions with the Pet Protect Plan.

What to Consider

Pet Max Plan includes Extra Care Benefits. This provides specific dental treatments for specific conditions:

• Gingivitis
• Abscesses
• Odontoclastic resorptive lesions
• Dental issues from infection
• Retained deciduous teeth
• Tooth cavities
• Fractured teeth due to dental disease

Medibank pet insurance also provides specialized therapies to treat a covered condition, such as the following:

• Hydrotherapy
• Acupuncture
• Chiropractic manipulation
• Physiotherapy
• Veterinary behaviorist consults
• Prescribed medication and diagnostic tests

What to Consider:

• Low Cruciate Ligament Sub-Limit: The annual sub-limit per leg with the Pet Protect Plan is $4000 annually.
• Optional Extra Care Cover: Routine Care is optional on Pet Product and Pet Plus.
• Cost vs. Coverage: Evaluate premiums against the coverage level and ensure they align with your breed’s health dispositions, requirements, and age.
• Waiting Periods: Check the waiting periods before coverage becomes effective. There’s a 6-month waiting period for cruciate ligament conditions and related conditions.

Frequently Asked Questions

1. Are Pre-Existing Conditions Covered?

While pre-existing conditions are not covered, some conditions are eligible for review after 18 months. (except those that can’t be cured). There’s a 6-month waiting period for cruciate ligament conditions (and conditions related to this, irrespective of their cause or origin). Medibank does not cover conditions that can’t be cured. This includes:

• Chronic conditions
• Cruciate ligament conditions 
• Intervertebral disc disease 
• Hip dysplasia
• Elbow dysplasia
• Patella luxation
• Endocrine diseases

2. What is Extra Care?

Extra Care is an included perk available with Medibank and part of the Pet Max plan, an optional benefit of Pet Plus and Pet Protect. It offers a $2000 benefit limit in addition to your annual limit.

3. What are the Included Specialised Therapies?

Medibank’s Extra Care package includes specialized therapies, including physiotherapy and physical therapy, chiropractic therapies, acupuncture, hydrotherapy, consultations, prescribed pet meds, and/or diagnostic tests for behavioral conditions in cats and dogs.