Fetch 20,000 Velocity Points For $99 With Medibank Pet Insurance
Protect your furry friend and score 20,000 bonus Velocity Points
Medibank has brought back its Velocity bonus points promotion on pet insurance, with the latest offer giving frequent flyers the opportunity to earn up to 15,000 Velocity Points per policy.
For those looking to boost their Velocity balance, this offer could be quite fetching. By taking advantage of the promotion across two eligible policies, it's possible to earn 20,000 Velocity Points for as little as $98.78 based on our example quote. That's 202 points per dollar or 0.49 cents per point!
In this post, we'll explain how to earn Velocity Points with Medibank Pet Insurance, and run through the numbers to see whether this deal is one of the cheapest ways to buy Velocity Points.
The Offer: Medibank Pet Insurance
Until 30 September 2026, 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.
The Hack: 20,000 Velocity Points For $98.78
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 bonus Velocity Points. On the second policy, you can access a 5% multi-pet discount.
You could also keep both policies for the full 11 months and earn an additional 10,000 Velocity Points. However, if pet insurance isn't something you'd normally purchase (or you don't have a pet), the extra cost would outweigh the value of the points.
After testing out the quote calculator, we found that one of the cheapest pets you can insure is a domestic short hair cross cat, desexed, female and under one year old. The postcode doesn’t seem to change the price too much, but feel free to experiment with these details. If you find a better quote, leave a comment on this article below!
Medibank offers customers the choice of fortnightly, monthly or yearly payments, and we would suggest paying yearly as it is cheapest. 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 $205.44 annually. So into 90 days the first policy would cost $50.66, and because Medibank offers a 5% multi-pet discount, the second annual premium costs $48.12 for 90 days.
The total for both policies would be $98.78 to earn 20,000 Velocity Points. All up, that works out to 202 points per dollar or 0.49 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. It's best to wait for the points to land before canceling.
How To Earn Velocity Points On Medibank Pet Insurance
- Click here to get a quote and purchase an eligible Medibank Pet Insurance policy between 4 June 2026 and 11:59pm AEST on 30 September 2026.
- Enter promo code VELOCITYPET and provide your Velocity Frequent Flyer membership number during the application process.
- Bonus Velocity Points are credited after 90 days and then again after 11 months of continuous cover. Allow 10 business days from these milestones for the points to land in your account.
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 between 4 June 2026 and 11.59pm AEST 30 September 2026.
- Pets insured by Medibank within the last 12 months are not eligible.
- Maximum of 2 policies can receive the bonus.
- 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)
Allow an additional 10 business days after the 90-day holding period, and 11 month holding period, for Velocity Points to be awarded to your account.
Offer starts 12.01am AEST 4 June 2026 and ends 11.59pm AEST 30 September 2026 (Offer Period). Offer available online only. Available to Medibank Pet Insurance customers who are a current member of the Velocity Frequent Flyer program (Velocity Member). Offer not valid for Velocity Members’ existing Medibank Pet Insurance Policies, or new Medibank Pet Insurance Policies for pets who have been covered by a Medibank Pet Insurance Policy in the last 12 months. Velocity Points only awarded for a maximum of 2 new, eligible Medibank Pet Insurance policies purchased during the Offer Period, per customer. Must own an eligible cat or dog and provide evidence to the insurer PetSure (Australia) Pty Ltd of pet ownership if requested. Must use promo code VELOCITYPET and enter their valid Velocity Member number at the time of taking out the policy during the Offer Period. Please ensure your Medibank Pet Insurance policy details (name, date of birth etc.) match your Velocity membership, otherwise your points may not be issued.
Customer/Velocity Member must hold the same Medibank Pet Insurance policy for 90 continuous days from the policy purchase date and the policy must be active, not suspended or in arrears for the first allotment of Velocity Points to be awarded. Must continue to hold the same eligible Medibank Pet Insurance policy for 11 months from the policy purchase date, and the policy must be active, not suspended or in arrears for the second allotment of Velocity Points to be awarded. It is the Velocity Members’ responsibility to ensure their Medibank Pet Insurance policy details (name, date of birth etc.) match their Velocity membership. If your personal details change, you must provide Medibank with appropriate documentation for Velocity Points to be awarded. Velocity membership, Points and redemption are subject to the Velocity Member Terms and Conditions, as amended from time to time. Offer subject to the terms and conditions of the Medibank Pet Insurance policy.
If the eligibility criteria is met, Velocity Points will be issued based on the Medibank Pet Insurance cover level purchased during the Offer Period listed as follows:
First allotment of Points:
10,000 Points for Medibank Pet Protect Pet Insurance
10,000 Points for Medibank Pet Plus Pet Insurance
10,000 Points for Medibank Pet Max Pet Insurance
Second allotment of Points:
5,000 Points for Medibank Pet Protect Pet Insurance
5,000 Points for Medibank Pet Plus Pet Insurance
5,000 Points for Medibank Pet Max Pet Insurance
Please allow an additional 10 business days after the 90-day holding period for Velocity Points to be awarded. Not valid with any other pet insurance offer (including but not limited to the Medibank and ahm employee discounts), except for the following:
Velocity Members who take out 2 or more Medibank Pet Insurance policies are eligible for a 5% discount on the premium for their second policy and each subsequent policy (see full terms and conditions below for the multi-pet discount). Velocity Points only awarded on the first 2 pet insurance policies purchased during the Offer Period.
Velocity Members who currently hold a Medibank or ahm Health Insurance Policy are eligible for a 10% discount on Medibank Pet Insurance premiums. Those Medibank and ahm health members (who are also Velocity Members) who wish to activate this discount must provide accurate Medibank or ahm membership details: (a) at point of purchase for the discount to apply; or (b) prior to renewal for the discount to apply at renewal.
Medibank Pet Insurance reserves the right to withdraw, vary or extend this Offer at any time, without notice.
