You are here: Home - Insurance -

More Than launches cashback scheme

Written by: Emma Lunn
More Than Rewards offers the insurer’s customers cashback at hundreds of stores – but it will take a cut of the money if you don’t renew your policy.

Insurer More Than has launched a new cashback scheme offering home, pet and car insurance customers money back on purchases at selected high street and household brands, including Tesco, Morrisons, and Just Eat.

More Than customers can sign up by visiting the More Than Rewards website and creating an account. They can then use the Rewards website or mobile app to click through to a retailer’s site to gain a cashback reward for their purchases.

Customers can also connect their credit or debit card to their Rewards account to earn cashback on spending with retailers such as Byron Hamburgers and Jack Wills.

When the time comes to renew their insurance policy, the cashback customers have earned will be paid into their bank account, giving them the option to either put it towards the cost of their new policy or spend it elsewhere.

However, customers who don’t renew their insurance policy will be charged a £35 administration fee to access their cashback. More Than said the fee is to cover the cost of the scheme.

There is no limit on the amount of cashback that can be earned – More Than expects the average shopper to earn around £300 cashback per year by using the service.

Kenny Leitch, global connected insurance director at More Than, said: “We’re proud to be the first insurer to offer a cashback scheme for our customers, helping them save money to pay for their insurance. As the scheme gives unlimited cashback some customers could even make money from it if they earn more than the cost of their renewal.”

“More Than staff have been testing the scheme and one of our employees racked up more than £600 in five months. We know that managing finances, while juggling family life, can be difficult so we’ve worked to make the scheme as simple as possible, allowing customers to earn as they spend by linking their account to their credit or debit card.”

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

ISAs: your back-to-basics guide for 2018/19

Here’s everything you need to know to make the most of your unused ISA allowance ahead of the 5 April deadli...

A guide to Sharia savings accounts

A number of Sharia savings products have upped their game in recent months, beating more familiar competitors ...

Five ways to get on the property ladder without the Bank of Mum and Dad

A report suggests the Bank of Mum and Dad is running low on funds. Fortunately, there are other options for st...

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Having a baby and your finances: seven top tips

We’re guessing the Duchess of Cambridge won’t be fretting about maternity pay or whether she’ll still be...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

Money Tips of the Week

  • RT @Defaqto: Will your home insurance leave you out in the cold? 🤔 Only a fifth of home contents insurance policies, and a quarter of home…
  • RT @Defaqto: Will your home insurance leave you out in the cold? 🤔 Only a fifth of home contents insurance policies, and a quarter of home…
  • Will your home insurance leave you out in the cold? 🤔 Only a fifth of home contents insurance policies, and a quar…

Read previous post:
Half of consumers won’t shop without a discount

Discounts have become so well and truly cemented in the UK shopping culture that half of shoppers won’t buy certain...