Is Medibank Pet Insurance Worth It? Our Review 2025

Why trust HelloSafe?

At HelloSafe, our pet insurance expert reviews the terms and pricing of insurance policies on the market every year to provide you with reliable and impartial analysis. Thanks to this rigorous approach, hundreds of thousands of people across the US trust us each month to support them in making their most important financial decisions.

Medibank Guarantees

Medibank Pet Insurance offers three main plans—Pet Protect, Pet Plus, and Pet Max—to flexibly match different budgets and risk profiles, with annual benefit caps rising from $10,000 to $30,000 and reimbursement rates from 70% to 90%. The franchise can be set to zero and, aside from basic accident & illness protection, the Extra Care benefit (covering advanced therapies, dental, and behavioral issues) is included or optional depending on the plan; only Pet Protect applies sub-limits for specific treatments.

All plans lack coverage for preventive/routine care (unless purchased separately as a non-insurance add-on), exclude pre-existing and chronic conditions, and strictly limit payouts to specified illness/accident lists. Medibank stands out for high customizable ceilings, strong dental/alternative care via Extra Care, and rapid clinical gap payment (GapOnly®), though limitations remain for owners needing routine, hereditary, or broad-scope medical cover.

Good to know

Routine/preventive care (vaccines, desexing, microchipping, flea/worming) is only available via an optional Routine Care add-on (not covered by insurance).

Some treatments under Pet Protect are subject to per-condition sub-limits (consultation, paralysis tick, joint/hip/knee surgery).

You must pay vet bills upfront and claim for reimbursement, unless using GapOnly® at participating clinics.

Exclusions for pre-existing and chronic conditions are strictly applied; always review the full PDS before subscribing.

To get the best value for your pet and optimize premiums, compare Medibank with several providers before making your choice.

Medibank Exclusions

Exclusions in Medibank Pet Insurance contracts are broadly consistent with the Australian market, focusing primarily on pre-existing conditions (chronic or prior illnesses before coverage), routine or preventive care (like grooming and food), non-listed illnesses, and all non-veterinary and non-essential interventions.

Medibank Rates

Medibank is positioned as a median-priced insurer in the Australian pet insurance landscape, balancing robust cover with moderate premiums. Its Pet Max plan stands out for high reimbursement (up to 90%), high caps ($30,000 p.a.), and comprehensive “Extra Care” inclusions, putting it at a price point above entry-level pure digital offers but still below some niche premium specialists.

While Pet Protect and Pet Plus provide competitive annual limits and flexible excess options, the presence of sub-limits and the modular structure may restrict value for owners seeking more flexible reimbursement for varied care. Medibank offers frictionless digital sign-up and multi-channel management, but does not operate as a fully pure player; part of its cost structure reflects physical support and legacy systems.

Overall, Medibank is suited to owners seeking tailored, mid-to-high tier protection—without paying the highest premiums on the market nor facing the restrictions of the most basic covers.

Compare different providers carefully to find the cover and price combination that matches the specific needs of your pet at the best value.

Medibank promo codes

Note: Promo codes are subject to change. For the latest codes, please visit our comparison of the best pet insurance.

How much will I be reimbursed with Medibank?

Medibank Pet Insurance reimburses a large part of your eligible vet bills—up to 90% with the highest “Pet Max” plan—after any annual deductible (excess), and up to the annual benefit limits. This means you pay only the remaining portion (“your gap”), and can benefit from additional coverage like dental and specialized therapies with “Extra Care” included.

Example 1: Emergency Surgery for a Swallowed Toy

Total veterinary bill: $2,800 AUD (includes consultation, imaging, surgery, hospital stay, medications)

Annual excess remaining to pay: $0 AUD (as no annual excess—or the deductible has already been paid for a prior claim this year)

Amount eligible for reimbursement under Pet Max: $2,800 AUD × 90% = $2,520 AUD reimbursed

Out-of-pocket for you: $2,800 AUD – $2,520 AUD = $280 AUD

👉 You receive $2,520 AUD back from Medibank.

ℹ️ With Pet Max, there are no sub-limits per surgery or consultation—90% back up to the $30,000 yearly maximum. Emergency surgeries are among the most expensive unexpected costs for pet owners.

Example 2: Dental Extraction (Advanced Dental Care)

Total cost for dental procedure: $950 AUD (includes exam, x-rays, anaesthesia, tooth extraction, aftercare meds)

Excess remaining: $0 AUD (already used for earlier claim, or selected $0 option)

Pet Max pays 90%: $950 AUD × 90% = $855 AUD reimbursed

Your remaining cost: $950 AUD – $855 AUD = $95 AUD

👉 You are reimbursed $855 AUD from Medibank.

ℹ️ Dental care (extractions for diseased teeth, advanced gum issues) is included in the Extra Care benefit (up to $2,000 per year) on Pet Max, giving you peace of mind for costly vet dental bills.

Example 3: Behaviour Therapy Consultation (Specialist Care)

Total behaviour vet & specialist costs: $400 AUD (initial vet diagnosis + behaviourist consult, medication)

Covered under Extra Care (Pet Max cap for therapies is $2,000 per year):
Annual excess: $0 AUD

Reimbursement at 90% (Pet Max): $400 AUD × 90% = $360 AUD

Your cost to pay: $400 AUD – $360 AUD = $40 AUD

👉 You receive $360 AUD back from Medibank.

ℹ️ Specialist therapies like behavioural consultations, prescription medications, and even follow-up therapies (if prescribed) are covered within your annual Extra Care pool on Pet Max, adding up to significant yearly savings for proactive pet owners.

Medibank Assistance

Medibank offers GapOnly® at participating clinics, which lets customers pay only out-of-pocket costs after claim calculation, while in other cases owners must front the full vet bill and claim later, which can be a limitation for some.

The presence of 24/7 Live Vet Support via telehealth brings immediate assistance for urgent pet health matters, which is an advantage versus many competitors.

A consumer app and web portal allow policy management and paperless claims submission, but user reviews point to usability issues and unreliable customer support, often marked by long wait times and low satisfaction.

While Medibank does not systematically guarantee direct payment or extended payment plans for insurance premiums, some seasonal promotions or multi-pet discounts can lighten costs, yet facilitation of payment is not a strong differentiator.

Coverage is local to Australia and no international vet expense reimbursement is provided if pets are treated overseas, which may not suit owners who travel with their animals.

Customer feedback on Medibank

We have analysed the reviews from the above site. On the positive side, Medibank policyholders occasionally mention:

• A wide range of coverage options: the different tiers and optional extras are appreciated by those seeking to tailor their pet’s insurance.
• Some users report positive experiences after persistent escalation, highlighting individual staff members who were helpful and professional.

On the negative side:

• The customer service is frequently described as extremely difficult to reach, with very long phone and chat wait times, repeated transfers, and unhelpful responses.
• Claims processing is a major source of dissatisfaction, with reports of rejected or delayed reimbursements, unclear fine print, and a complex process especially for travel insurance or when third parties are involved.
• Many policyholders feel that policy details are poorly communicated, leading to unexpected exclusions and low reimbursement levels.
• Cancelling or suspending a policy is described as arduous, requiring weeks of attempts in some instances with little progress or support.
• There are recurring complaints about data security breaches, with some customers suffering from personal data loss and feeling that the company did not take sufficient responsibility or provide adequate communication and compensation.
• The app and online portal are judged difficult to use, especially for managing and tracking claims.
• Unexpected premium increases and lack of loyalty rewards are highlighted, with some long-term customers feeling neglected and overcharged.

How to contact Medibank?

FAQ

Jordan Mitchell

Jordan is a U.S.-based personal finance editor with over a decade of experience in financial literacy and consumer advocacy. He holds a BA in Economics from the University of California, Berkeley, and a CFP® certification. Before joining HelloSafe, Jordan worked as a financial advisor and later as lead content strategist at several fintech startups. His mission: making money management clear, relatable, and empowering for everyday Americans. At HelloSafe, he writes in-depth guides on topics like insurance, credit, loans, savings, and budgeting—focused on helping readers make smart, confident financial choices.