Banfield Pet Hospital provides veterinary services and pet insurance plans for cats and dogs across over 1,000 locations in the United States. If you have enrolled your pet in one of Banfield’s insurance offerings but now wish to cancel the coverage, there is a formal process to follow. You cannot simply stop paying premiums alone to drop your Banfield Pet Insurance policy. Instead, you need to directly notify Banfield’s customer service department of your intent to cancel while also settling any outstanding balances.
This article outlines the step-by-step process for canceling your Banfield pet insurance policy. It covers key considerations around when you can cancel, how to formally request cancellation, what happens to your coverage date, obtaining confirmation of cancellation, receiving any premium refunds due, and retaining paperwork for your records. Following these guidelines for cancelling will ensure you appropriately terminate your Banfield insurance in accordance with policy terms and avoid any gaps in protection or accidental charges.
Determine If You Are Within the Policy Term
When you first enroll in Banfield Pet Insurance, you agree to maintain your policy for a set policy term, usually 12 months. During this initial policy term, you are generally not able to cancel your coverage unless you no longer own any pets.
If you are still within your initial 12 month policy term, cancelling will typically require you to pay back premium discounts you received when you first enrolled. So before canceling, determine if you are still within your initial commitment term.
Contact Banfield Pet Insurance Customer Service
If you are sure you want to cancel your Banfield Pet Insurance during the policy term, then you need to contact Banfield’s customer service department directly to cancel coverage formally.
You can reach the cancellation department by phone at 1-877-500-2242. Let the representative know you want to cancel your pet insurance policy and provide them policy details like your account number, pet’s name, cancellation date, and cancellation reason when asked.
Get Confirmation of Your Cancellation
After submitting your cancellation request, ask the Banfield Pet Insurance agent to confirm your policy cancellation details in writing. Make sure to get the exact cancellation date for your records.
This written confirmation ensures you and Banfield both understand the specific date your coverage will end. It protects you from being charged additional premiums after you believed your policy was terminated.
Understand When Your Coverage Ends
Per Banfield Pet Insurance guidelines, cancellations take effect at the end of the current monthly billing period.
For example, if you cancel your policy mid-month on March 15th, your coverage remains active until March 31st. After March 31st, your policy is officially terminated and no longer provides coverage for your pet.
So continue paying normal premiums until the formal cancellation date to keep insurance active for your pet’s care.
Consider Alternate Pet Insurance Plans
While canceling Banfield Pet Insurance removes your current coverage, you may still want pet insurance from another provider for your pet’s future veterinary needs. Most other pet insurers let you cancel anytime without paying back discounts.
Do some research to find the best pet insurance company for your situation. Look into options like Lemonade, ASPCA, Figo, Pumpkin, Embrace and more. Get quotes to compare monthly premiums and reimbursements across providers.
Then enroll your pet with the new carrier near your Banfield cancellation date for seamless coverage as your Banfield policy terminates. Transferring to a different pet insurance company prevents gaps without protection.
Pay Any Outstanding Balance
Canceling your policy does not automatically forgive any past due premiums or other balances you owe Banfield Pet Insurance. Make sure to pay off all remaining bills before or directly after your cancellation date.
This may include monthly premium charges, deductibles for recent claims, reimbursement overpayments, and more based on the specifics of your account. Settling all balances ensures cancellation fully closes out your relationship with Banfield Pet Insurance.
Check for Refund of Unused Premiums
Since Banfield Pet Insurance bills monthly, canceling mid-billing cycle means you likely paid for some coverage time past your actual cancellation date.
In this case, you are due a refund for unused premium charges between your cancellation date and end of the last billing month. For example, if cancelling March 15th, Banfield would refund 50% of your March premiums covering the remainder from March 16-31.
Expect your premium refund in the form of the original payment method within 7-10 business days after your policy cancellation is processed in the system. Contact customer support if your refund does not arrive when expected.
Watch for a Cancellation Confirmation Letter
Approximately 1-2 weeks after your verbal cancellation request, Banfield Pet Insurance sends a Cancellation Confirmation Letter in writing. This letter formally documents your policy number, cancellation date, and reason for terminating your pet’s coverage.
Review this cancellation confirmation carefully against the details you discussed with the representative on the phone and your personal records. Verify it reflects the accurate cancellation date and that no future premium charges or other bills remain tied to your account.
Document Details for Future Reference
Keep permanent records related to cancelling your Banfield Pet Insurance handy for at least a few years. This includes written call notes, cancellation confirmation letters, refunded premium checks, and proof any outstanding balances are resolved.
These records protect you from any future disputes related to your account or charges falsely claimed after you believed your policy terminated. Having documentation aids enormously in getting errors corrected.
Cancellation Wrap-Up
Canceling pet insurance requires carefully following Banfield’s formal cancellation process before your coverage officially ends. This ensures both you and Banfield agree on the termination date and ties up financial loose ends on any outstanding balances.
Keep your pet covered in the interim and consider transferring to an alternate. Pet insurance carrier so your companion always has protection for veterinary care needs. With attention to details, cancelling Banfield Pet Insurance can be smooth process.
Conclusion
Canceling any pet insurance policy, including plans from Banfield Pet Insurance, requires more formal steps than simply discontinuing premium payments. You need to directly contact their cancellation department by phone and obtain written confirmation in return. Documenting details like cancellation reason and final coverage end date. This protects you from continued billing after you believe your policy is terminated. Be aware cancellations take effect at the end of your current billing cycle. So you remain responsible for normal monthly payments until that cancellation date.
Tie up any other financial loose ends too like paying outstanding balances in full and receiving refunds for unused premiums. Lastly, consider alternatives for pet insurance so your companion always has coverage for veterinary care. With attention to these cancellation protocols and records retention, you can smoothly transition off an active Banfield insurance plan. Contact customer service if you run into any issues finalizing cancellation according to their process and guidelines outlined here.
