Pet Insurance Cancellation Policies

by Kari Steere, Licensed Insurance Agent
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Pet Insurance Cancellation Policies
Find out everything you need to know in case you want to cancel your pet insurance policy. Pawlicy Advisor can help you match with the right provider.

Sometimes, pet owners change their minds and no longer want the insurance policy they signed their four-legged friend up for. The good news is you can cancel your pet insurance at any time. The process will mostly depend on when you cancel, but it is fairly straightforward.

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In this article, we’re covering everything you need to know in case you decide to cancel your pet insurance policy, including how to submit requests, what costs you might pay, and other key considerations.

Click a question below to find answers to pet insurance cancelation concerns:

Is it possible to cancel my pet insurance policy at any time?

Yes, you can cancel your pet insurance policy at any time. However, you can’t simply stop paying the monthly premiums; you will need to contact your pet insurance provider first.

Some insurers like Trupanion and Figo require you to cancel with a written notice, MetLife Pet Insurance requires cancelations to be made by phone, whereas others give you multiple options. Embrace Pet insurance, for instance, allows customers to cancel by phone or email, while cancelation requests to Healthy Paws Pet Insurance can be submitted in the form of fax, email, regular mail, or done verbally.

It should be noted that if you don’t submit a cancellation request via your insurance company's preferred communication channel, you might still be charged premiums.

The insurance company might charge you a small administration fee to cover the paperwork involved with the cancellation.

Will I lose money if I cancel my pet insurance policy?

Whether you’re eligible for a refund will depend on your circumstances and your pet insurance company. In general, you can receive a:

Full refund. Most pet insurance companies have a 30-day money-back guarantee period, also known as a 30-day free look period or cooling-off period. If you cancel within this period, you’ll get a full refund for the premiums you’ve paid, provided you haven’t filed a claim.

Partial refund. If you haven’t filed a claim and you’ve paid the annual premium in full, the portion of the premium that covers the remaining policy period of insurance will be returned to you. However, if you have chosen to pay your premiums in monthly installments, you won’t be eligible for a refund.

No refund. If you have filed a claim and you have chosen to pay your premiums annually, you won’t receive any refunds if you decide to cancel coverage. If, on the other hand, you have chosen to make monthly payments, you will need to continue paying premiums for the remaining insurance period.

What should I consider when canceling my pet insurance policy?

If you are thinking of canceling your coverage, keep the following things in mind:

Pre-existing conditions. If you decide to cancel your policy, everything your four-legged friend has been treated for while they were insured will be considered a pre-existing condition by other insurers. This means that any illnesses or injuries related to that condition will not be covered.

Possibility of chronic illness onset. If you are thinking about canceling your policy because your pet seems perfectly healthy and hasn’t had any major medical issues, keep in mind that health conditions can happen at any time. If your cat or dog develops a chronic disease, such as diabetes mellitus or hyperthyroidism, while they’re not protected by pet insurance, you won’t be eligible for coverage for testing, diagnosis, and ongoing treatment.

Your pet’s age. Many pet insurance providers hesitate to offer coverage to senior animals when you first sign up for insurance. Once you have a pet insurance policy, your dog or cat will be covered for life. However, if you decide to cancel your coverage, you may not be able to re-insure your pet at a later date.

Insuring multiple pets. Most pet insurance companies offer a multi-pet discount when you enroll multiple pets. Canceling coverage for one of your pets might increase the cost of coverage for your other pets.

The effect on your family budget and pet care. While your cat or dog might be perfectly healthy at the moment, unexpected veterinary expenses can arise at any time. This can cause stress related to your family finances or compromise the quality of veterinary care your canine or feline companion receives. Many owners without pet insurance are faced with the decision to pay for expensive vet treatment and seriously damage their family budget or end their pet’s life.

What can I do instead of canceling my policy?

Instead of canceling your pet insurance policy, consider the following alternatives that help you maintain the coverage your cat or dog needs:

Change the level of coverage. By doing this, you will lower your monthly premiums, while making sure your pet is still protected and you will be able to pay for unexpected medical bills.

Switch insurance providers. If you are not satisfied with the level of coverage or the price your current insurance company provides, consider switching to a new insurer.

The best thing you can do is ensure that you research pet insurance companies very closely before enrolling in pet insurance. However, if you are thinking about canceling your policy to find a better option, you can check out our Pet Insurance Advice Blog for detailed information on the top US pet insurance providers.

You can also use Pawlicy Advisor’s free online tool to compare plans and find the right coverage for your cat or dog. With pet insurance, you will be getting the best value for your four-legged friend while keeping them healthy and happy.

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Key Takeaways

  • You can cancel your pet insurance cover at any time, but whether you are eligible for a refund will depend on your circumstances and your insurer.
  • If you’re considering canceling your policy, you should be aware that there are certain risks to take into consideration. For instance, you may not be able to re-insure your pet at a later date due to age restrictions.
  • Instead of canceling your policy, consider changing the level of coverage of switching insurers. Pet insurance is the best way to ensure that your pet is protected without worrying about spending large sums of money, so be sure to consider all your options carefully.

Kari Steer, Licensed P&C Insurance Agent at Pawlicy Advisor

About the author

Kari Steere, Licensed Insurance Agent

Customer Support - Pawlicy Advisor

Kari Steere is a licensed P&C insurance agent in all 50 states and has focused entirely on pet insurance since 2019. As an animal lover with a rescued Terrier named Barry, when she's not helping pet owners find the perfect plan on Pawlicy Advisor, she runs a ranch in Oregon and rehabilitates any animals that come across her path.

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