Payment Deferral - what this means and how to request one
We know this is a difficult time for many of our customers, and we want to be there to help you. If you’re worried about not being able to pay your premiums and leaving your pet unprotected we have some options.
If you are going to miss or have missed a payment, you may be able to apply for a payment deferral. If eligible your missed payment will be spread over your remaining direct debits, increasing the amount you pay each month, so choosing to miss a payment should be carefully considered
What is a payment holiday/deferral?
A “Payment Holiday” is another name for a payment deferral. This is where we agree to delay collecting your insurance premiums for up to 3 months. Premiums will still be owed at the end of this period, not written off. You can choose whether you would like to delay collection of your premium for 1, 2 or 3 months.
The payments that you request to defer payment for will be spread evenly across the remainder of the payments you have on your policy. For example, if after the deferment you have 4 months left on your policy we would divide the premium you owe us between these months and add it to your normal premium. This will be different for customers who renew in this time.
Am I eligible for a payment deferral?
A 1, 2 or 3 month payment deferral is available for customers who have made at least one payment on their policy since taking out cover and pay by monthly direct debit. If you pay annually and would like to talk to us about switching to direct debit at your renewal then please call us on 0330 100 7915.
How do I pay back the premium owed?
The payments that you request to defer payment for will be spread evenly across the remainder of the payments you have on your policy. For example, if after the delay you have 4 months left on your policy we would divide the premium you owe us between these months and add it to your normal monthly premium. This will be different for customers who renew in this time.
Can I still claim?
We’ll continue to pay your claims as normal in this period. However, if you claim whilst you are not paying your usual monthly premiums but you cancel your policy at the end of the deferral period without paying the outstanding money owed, we reserve our rights to ask you to pay us back any monies paid out in relation to claims in this period.
Am I still eligible for a payment deferral if my policy is due to renew?
We can offer you a payment deferral up to your renewal but unfortunately are unable to offer payment deferrals that extend past renewal. This is because your policy with us is a 12 month contract and any renewal will be a new contract with us. As such any deferred premium from the period before your renewal will need to be collected in full after the deferral period ends. This will be outlined in the new payment schedule we send you.
How quickly can I start a payment deferral?
Normally to collect your payment we send a request to your bank before your scheduled payment date to ensure that we collect on time. Unfortunately this means that if you have less than 5 working days left before your next payment is due to be collected, we will be unable to stop this collection and instead will defer the subsequent payments.
What if a payment deferral isn’t right for me?
If a payment deferral doesn’t meet your needs and you have a Maximum Benefit policy, you can always speak to us about downgrading or changing the cover you have. It’s best to call us on 0330 100 7915 to speak with one of our team directly as they’ll be able to explain to you not only what options you have but also make sure you understand if this would have any effect on the extent of cover your pet has.
What if I have multiple policies?
If you would like to start a payment deferral on more than one policy, you will need to contact us on 0300 100 7915 to discuss your options further.
Need to make a claim on your pet insurance? Or want to update your details? We’ve made it quick and simple to manage your policy. So you’ve got more time to do what really matters – like pampering your pet pooch or feline friend.
If your claim’s in progress or has closed in the past six weeks, you can quickly track it online. All you need is your policy number and postcode.
Making a third party liability or pre-authorised claim? Give our claims team a call using the contact details above and we’ll help track your claim.
Sainsbury's Bank plc, Registered Office, 33 Holborn, London EC1N 2HT (registered in England and Wales, no. 3279730) is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority (register no. 184514). Sainsbury's Supermarkets Ltd is an appointed representative of Sainsbury's Bank plc. Sainsbury's Bank Pet Insurance is provided, underwritten and administered by Allianz Insurance plc registered in England no. 84638. Registered office: 57 Ladymead, Guildford, Surrey, GU1 1DB. Allianz insurance plc is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Allianz Insurance plc is on the Financial Services Register, registration number 121849. Sainsbury's Bank and Allianz Insurance plc are not part of the same corporate group. Insurance available to cats and dogs that are older than 8 weeks but have not yet reached their 9th birthday. However once purchased, cover can continue up to any age, if you renew the existing policy without a break in cover. Please see policy documents for full terms, exclusions and limitations of cover.