Bought By Many vs Petplan Pet Insurance UK: Which Is Better Value

Cover compared

Both Bought By Many and Petplan centre their ranges on lifetime cover, the most comprehensive structure available in UK pet insurance. Lifetime policies refresh the annual vet-fee allowance at each renewal, so chronic and recurring conditions diagnosed during the policy can continue to be claimed for year after year, provided cover is maintained without a break. This shared foundation means the headline cover type is comparable between the two insurers.

The differences lie in the detail of each tier. The decisive figure is the annual vet-fee limit attached to the policy, which determines how much treatment the insurer will pay for in a single policy year. Petplan, as a long-established provider, is known for high lifetime limits across its core ranges, while Bought By Many built its proposition around clearly structured online tiers. Buyers should compare the specific limit, not the brand, because a higher tier from either insurer can outclass a lower tier from the other.

Both insurers also bundle benefits such as dental cover for accident and illness, complementary treatments, and third-party liability for dogs, though the exact inclusions and sub-limits vary by tier. The Insurance Product Information Document for each quote is the authoritative comparison reference.

Cost compared

Premiums for both insurers are driven by the same underlying variables rather than the brand alone: the pet's species, breed, age and location, the annual vet-fee limit selected, and the excess and co-payment structure. Because of this, a like-for-like comparison requires quoting both insurers for the same pet at the same cover level on the same day. A premium that looks cheaper at the outset can prove more expensive over a pet's lifetime if it carries a lower annual limit that is exhausted by a chronic condition.

Co-payment is a particular point of difference to watch as pets age. Some pet policies introduce a percentage co-payment on top of the fixed excess once a pet passes a certain age, which can significantly raise the owner's share of larger claims. Checking whether and when each insurer applies a co-payment, and how renewal premiums escalate as the pet gets older, matters as much as the first-year price.

Neither this comparison nor any comparison site can quote an exact figure for an individual pet without the underwriting inputs, so the only reliable cost comparison is a direct quote from each insurer.

Complaints and service compared

Both insurers fall under the Financial Ombudsman Service, which handles unresolved general insurance complaints and publishes complaint volumes and uphold rates by firm at financial-ombudsman.org.uk. Sector-wide, general insurance uphold rates commonly fall around 30 to 40 per cent, but the meaningful comparison is the live firm-level data for each insurer's underwriting entity rather than a single quoted statistic.

On service approach, Bought By Many positioned itself around a digital-first, app-driven experience, while Petplan trades on a long history and broad recognition among veterinary practices. Both approaches have trade-offs: digital journeys can speed up routine claims, while an established provider may offer familiarity at the practice. Because pet insurance disputes frequently turn on whether a condition is pre-existing or how a chronic condition is classified, thorough veterinary records help claims with either insurer.

Exclusions compared

The core exclusion is identical in principle for both: pre-existing conditions are generally not covered. Any illness, injury or symptom present before the policy started or during a waiting period is typically excluded, which is why switching after a diagnosis can leave the existing condition uninsurable with a new provider. This applies to Bought By Many and Petplan alike and is standard across the UK market.

Other common exclusions for both include routine and preventative treatment, costs above the chosen limit, and the agreed excess or co-payment. The differences tend to be in the fine detail: waiting period lengths, how dental cover is structured, and how each insurer defines bilateral conditions, where a condition affecting one side of the body can affect how a later claim on the other side is treated. The policy wording for each insurer governs these points.

Which suits which need

The two insurers suit different priorities rather than one being superior overall. An owner who values a digital, app-led experience and clearly tiered online cover may find Bought By Many's structure straightforward, while an owner who prioritises a long trading history, high lifetime limits and broad veterinary familiarity may lean toward Petplan. Neither choice is automatically right; the deciding factors are the annual limit, the excess and co-payment terms, and how each treats chronic conditions at renewal.

For any individual pet, the most reliable approach is to obtain a direct quote from each insurer at the same cover level, read both IPIDs, and check the current FOS complaint data and FCA register entries before deciding.

Frequently asked questions

Is Bought By Many cheaper than Petplan?

Neither is universally cheaper, because premiums depend on the pet's breed, age and location, the annual limit chosen, and the excess structure. The only reliable comparison is a direct quote from each insurer for the same pet at the same cover level on the same day.

Do both Bought By Many and Petplan offer lifetime cover?

Yes, both centre their ranges on lifetime cover, which refreshes the annual vet-fee allowance at each renewal so chronic conditions can continue to be claimed for. The decisive difference is the annual limit attached to each tier.

Are both insurers FCA authorised?

Both operate within the FCA-regulated general insurance market. Each insurer's current trading and underwriting entities can be confirmed by searching fca.org.uk/register.

Which has the better complaints record?

The Financial Ombudsman Service publishes complaint volumes and uphold rates by firm at financial-ombudsman.org.uk. The most reliable comparison is the current firm-level data for each insurer's underwriting entity rather than a single quoted figure.

Can I switch from Petplan to Bought By Many without losing cover?

Switching is possible, but any condition diagnosed while insured with the previous provider would generally be treated as pre-existing by the new insurer and therefore excluded. This is standard across the UK market and is the main reason owners are cautious about switching after a diagnosis.

Do both apply a co-payment as pets get older?

Some pet policies introduce a percentage co-payment once a pet passes a certain age, which raises the owner's share of larger claims. Whether and when this applies varies by insurer and tier, so check each policy wording and IPID before buying.