Bought By Many's MoneyBack pet insurance - how it works
By
Digby Bodenham
Our MoneyBack policy ensures you'll get 20% of your pet insurance premium back if you don't claim in a policy year.
Bought By Many is the only company that offers it so we anticipate customers may want more information about it.
Here's how MoneyBack works if you claim or change your policy. If you want further clarification on anything else, check our help centre or get in touch.
Claim rejected
My claims(s) was rejected, will I be due MoneyBack?
You are due MoneyBack unless we have paid a claim to you. So if your claim(s) was rejected, you are still due MoneyBack.
The claim amount was below the excess or MoneyBack amount
My claim amount is below the excess, am I due Money Back?
You are due MoneyBack unless we have paid a claim to you. As your claim is below excess we won’t be able to pay it – so you will still be due MoneyBack.
My claim was successful, but the amount you paid me was less than 20% of my annual premium, am I due MoneyBack?
I am afraid you won’t be due MoneyBack in this instance. As we have paid a claim, you are not eligible for MoneyBack for that pet this year.
Continuation claims
I claimed last year, if I make a claim for the same condition this year, will this mean I don’t get MoneyBack this year as well?
I am afraid so. We treat continuation claims like any other claims. If we pay a claim this year, you will not be eligible for MoneyBack for that pet.
Multiple pets
What if I had a claim paid for one pet but no claims paid for another?
We assess MoneyBack on a per pet basis. So for any pets that we haven’t paid a claim on, you will receive 20% of the premium you have paid in relation to that pet as MoneyBack.
Adding or removing a pet during the policy year (including if your pet passed away)
Will I get MoneyBack if I chose to cancel the policy or remove a pet from the policy mid-term?
This is a 12-month policy and MoneyBack is due on the annual amount paid. You will not be eligible for MoneyBack if you cancel a policy mid-term or in relation to a pet that you have removed from the policy (unless this was due to the pet passing away).
Will I get MoneyBack if my pet passed away?
Yes, provided no claim has been made for that pet while it was alive. MoneyBack will be paid on the amount of premium we received for that pet even if you make a claim for its death. The death of a pet is a sad event, we’re not going to make it worse.
If I added a pet to the policy part way through the year, will I be eligible for any MoneyBack for that pet?
Yes. Even though MoneyBack strictly applies to annual premiums, we think it’s fairer, in this case, to pay MoneyBack on the amount of premium you have paid for that pet. So if you added a pet halfway through the year and we paid no claims for that pet, you will get back 20% of the half year’s premium you have paid.
