20,000 Velocity Points For $129 With Medibank Pet Insurance
Here’s how you can maximise Medibank Pet Insurance to score 20,000 bonus Velocity Points.
Medibank has brought back its Velocity bonus points promotion on pet insurance, and by maximising the offer you can fetch 20,000 Velocity Points for as little as $129. This guide explores how that’s possible, even if you don’t own a pet.
The Offer: Medibank Pet Insurance
Until 6 March 2025, eligible Medibank Pet Insurance policies come with up to 15,000 Velocity Frequent Flyer Points. That’s 10,000 Velocity Points after holding a policy for 90 days following its purchase, and a further 5,000 Velocity Points after holding that policy for 11 months.
Each of the three coverage tiers - Pet Protect, Pet Plus and Pet Max - are eligible for a bonus, provided the insured pet has not been covered under any other Medibank Pet Insurance policy within the last 12 months.
You can earn bonus Velocity Points on a maximum of two policies per customer under this offer.
How To Earn Velocity Points On Medibank Pet Insurance
- Click here to get a quote, and enter promo code VELOCITYPET by 11:59pm AEDT 6 March 2025.
- Be sure to enter your Velocity number when taking out insurance.
- Bonus Velocity Points will be credited after 90 days and then again after 11 months of continuous cover. Allow 10 business days for the points to land in your account.
TIP
We’ve tried hacking these insurance policies before with mixed results. Be aware that you might need to chase up your points and set a reminder to cancel your policy (unless you want it).
The Hack: 20,000 Velocity Points Points For $129
By now, you might have worked out the fun part. With a maximum of two pet insurance policies held for 90 days, you can earn 20,000 Velocity Points. On the second policy, you can access a 5% multi-pet discount by calling Medibank.
After testing out the calculator we found one of the cheapest options was a domestic short hair cross cat, desexed, female and a few years old. The postcode of your pet doesn’t seem to increase the price too much, but feel free to experiment, and let us know in the comments if you find a better deal.
Medibank offers customers the choice of fortnightly, monthly or yearly payments, and we would suggest the latter for the best rate. The PDS states that you can receive a pro-rata refund if you cancel early - “You can cancel your policy with us at any time by contacting our customer service team…Where you have paid for a period in advance (e.g. for the fortnight, month, or year), we’ll refund that proportion of premium for the time remaining on the policy.”
Per cat, our quote came to $268.83 annually. Into 90 days that’s $66, working out to 151 points per dollar or 0.66 cents per point. For two cats with a 5% discount on the second policy, you would pay $129, working out to 155 points per dollar or 0.64 cents per point.
Keep in mind that this math works on the assumption that your points land after 90 days. As per the terms, allowing a further 10 business days would push the cost out slightly.
What If I Don’t Have A Pet?
While having a pet certainly helps, you don’t actually need one to purchase pet insurance. Protecting your imaginary dog or least favourite cousin from all manner of zoomie-related collisions and intimate item ingestion is just a creative way to snag bonus Velocity Points.
Keep in mind that the fine print of this offer specifies that you must provide proof of ownership if the insurer requests it. Also, and it should go without saying, never make a claim for your imaginary dog.
The Fine Print
Before taking out a Medibank Pet Insurance policy, be sure you understand the offer terms;
- Offer valid until 11.59pm AEDT 6 March 2025.
- Available to new Medibank Pet Insurance customers.
- Pets insured by Medibank within the last 12 months are not eligible for bonus points.
- A maximum of 2 new policies will earn 10,000 bonus Velocity Points each.
- Be prepared to provide evidence of pet ownership if requested.
- Policy must be active for 90 days from purchase, and not suspended or in arrears for the first allocation of Velocity Points to be awarded.
- Continue to hold the same policy for 11 months from purchase for the second allocation of Velocity Points to be awarded.
- Allow at least 10 business days after the 90-day holding period, and after the 11-month holding period, for Velocity Points to be awarded.
- Not valid with any other pet insurance offer (except for 5% second policy discount and 10% Medibank and ahm health member discount)
