Pet insurance renewals: what to expect

Does my policy renew automatically?

Yes!

Your pet cover renews once a year, around the same time you first bought cover with Naked. About a month before your renewal date, we'll send you an email with your new policy details, including your updated premium, so you have time to review everything and make any changes before it goes through.

Do my waiting periods restart at renewal?

Nope.

Waiting periods are a once-off thing. Once you've served them, they're done. Your renewal keeps all of that continuity intact, which is one of the biggest reasons not to cancel and rebuy.

Cancel your cover and your waiting periods reset from scratch. Same goes if your insurer cancels due to non-payment. And any conditions your pet was treated for during your original policy could be treated as pre-existing on the new one. Staying put protects your pet's cover history.

What happens to my limits at renewal?

They reset. Think of it as a fresh start.

If you used some of your accident or illness cover during the year, your annual limits are restored in full at renewal. If you're on the Plus plan, your routine care and physio limits reset too.

Can I make changes to my cover at renewal?

Yes, and this is your main window to do it.

Renewal is the one time each year you can upgrade your cover. That means switching plans, adjusting your excess, or changing your cover limits. Outside of renewal, upgrades aren't available, so it's worth taking a few minutes to ask whether your current cover still fits your pet's needs.

Maybe your pet is getting older and you want more protection. Maybe you want to add routine care. Maybe you've realised your excess isn't where you'd like it. This is the moment to sort it. You can make all of these changes in the app.

If your cover is working well for you, no action is needed. We just want you to make that call intentionally.

Why might my premium be higher at renewal?

A few things feed into your renewal premium:

• Your pet's age. As pets get older, they're more likely to need vet care. Older animals are more prone to conditions like arthritis, dental disease and kidney problems, and treatment tends to be more involved. Younger pets are cheaper to insure because they're less likely to need treatment. The same logic applies to your car insurance, your medical aid, and pretty much every other kind of insurance.
• Vet costs going up. Veterinary care has become more sophisticated and more expensive. Better diagnostics, advanced treatments and rising costs for vet practices all push claims costs upward, and that feeds into premiums across the board.
• Any cover changes you make. If you upgrade your plan or increase your limits at renewal, your premium will go up to reflect that. If you downgrade, it'll come down.

What if the new premium feels too high?

You've got options.

If your renewal premium is more than you were expecting, the easiest place to start is your cover settings. Increasing your excess, adjusting your plan or changing your cover limits can all bring your monthly premium down. Just keep in mind that a higher excess means you'll pay more out of pocket when you do claim.

You can review and adjust everything in the app before your renewal goes through.

Can my cover be changed or cancelled at renewal?

In rare cases, yes.

If a pet becomes very high risk or uninsurable, we reserve the right not to renew their cover. In practice, this is uncommon. We'll always give you advance notice and explain why.