Terms and Conditions

Micashback™ is our way of thanking you, the policyholder, for doing things Micashback™ is our way of thanking you, the policyholder, for doing things your way – for being a careful driver, for keeping your home, your gear and your wheels safe, for paying all your premiums in full and on time, and for staying claim-free. You get 10% cashback on all your paid qualifying  premiums every 2 “claim-free” years. Just make sure there’s no break in your cover.

And to make it easy for you to gain, Micashback™ kicks in on a range of qualifying products - from cars and caravans to motorbikes and mobile phones, from your home to all your household contents.

It’s just one more way for us to make your life a little easier, with a whole lot more value.

These are products that qualify for a Micashback™:

• Miwheels
• Miplace
• Mistuff
• Mimoveables
• Mibicycle
• Mibike
• Mitrailer
• Micaravan

As a Miway policyholder with at least one qualifying product, your Micashback™  cycle will start automatically from the time it is first noted on your policy. The bonus cycle ends 2 years after the payment date of the first full premium following the date reflected on your policy.

The Micashback™ 2-year cycle is linked to your premium payment date – the bonus will be paid to you 30 days after the 2-year cycle ends. This means that if you change your premium payment date, the Expected Payout Date of the bonus will also be affected.

The Projected Payout Amount is based on the paid premiums of the qualifying products. The Projected Payout Amount will increase or decrease if the premiums are adjusted by Miway.

The Micashback™ cycle continues provided your policy remains active, you do not miss your premiums, and you do not have claims.

You can find it on the Miway app.

As a Miway policyholder with at least one qualifying product, your Micashback™ cycle will start automatically from the time it is first noted on your policy. This will occur automatically at your policy anniversary starting from April 2025, when your policy is upgraded to this new offering.

Your Micashback™ will be paid into the same bank account that your insurance policy premiums are paid from. The payment will be made 30 days after the end of the Micashback™ cycle.

You would lose your Micashback™ entirely. The bonus depends on you completing the 2-year Micashback™ cycle to its end with qualifying products.

Reach out to us as soon as possible and we’ll resubmit your debit order for the full premium. You have a 15-day grace period from premium due date, and if payment is received in that period, your Micashback™ cycle won’t be impacted at all.

However, if the entire premium doesn’t get paid in that grace period, you won’t have cover for that period, and your Micashback™ will be lost. This is because you’ve had a break in your cover and it’s no longer continuous cover.

The good news is that your new Micashback™ cycle will automatically start on the day that your next month’s premium is paid.

Firstly, not all claims will impact Micashback™. Only claims related to the qualifying products listed above will impact Micashback™.

Secondly, using your MiHelp benefits and claims for windscreen chips won’t impact your Micashback™. However, if a windscreen chip cannot be repaired and leads to a windscreen replacement, your Micashback™ will be lost  – so make sure you repair your windscreen chips as soon as possible to avoid this.

In some cases, a MiHelp emergency benefit usage might progress to a claim. If this happens, your Micashback™ will be lost.

On all other claims, the Micashback™ will be lost when the claim is approved. Your new  Micashback™ cycle will automatically start on the day after the incident date, with the bonus cycle ending 2 years after the payment date of the next full premium. A new Projected Payout Amount and Expected Payout Date will be set, based on this next premium.

Here’s some scenarios to explain how it works.

Scenario: A valid, approved claim within the Micashback™ cycle

Sibusiso takes out a policy with Miway on 1 July 2025, and his Micashback™ is set to pay out on 1 August 2027. Sibusiso has a car accident on 1 February 2026, during the Micashback™ cycle, and registers a claim. The claim is approved on 4 February 2026. Sibusiso’s car is repaired on 5 February 2026 – with Sibusiso having paid the excess and Miway covering the rest. As expected, Sibusiso’s Micashback™ is lost and his new Micashback™ cycle starts on 2 February 2026, with a payout date set at 30 days after the 2-year cycle – 1 April 2028.

Scenario: An invalid claim within the Micashback™ cycle

Sibusiso takes out a policy with MiWay on 1 July 2025, and his Micashback™ is set to pay out on 1 August 2027. Sibusiso has a car accident on 1 February 2026 and registers a claim. On 4 February 2026, Sibusiso gets the feedback that the claim is not valid. Sibusiso’s Micashback™ is not lost and stays in place, with the payout date set at 1 August 2027.

A single policy may cover multiple insured items - for example, your policy might cover your house, home contents, a car and a motor warranty. Micashback™ applies to all qualifying products on your policy, so a claim for a loss on one qualifying item – your car, for instance - will result in losing the Micashback™ for the entire policy. However, your motor warranty (Miwarranty) is not a qualifying Micashback™ product, so a claim on your Miwarranty cover won’t affect your Micashback™.

It’s simple – if you withdraw your claim before repairs have begun or parts have been ordered - you won’t lose your Micashback™.

If you decide that you want to save your Micashback™, and you withdraw your claim, this decision will be final and cannot be reversed. If a liability claim is submitted later for the same bonus cycle, it could impact your Micashback™ depending on the outcome of that claim.

Scenario: Withdrawal of claim and use of MiHelp benefit in the Micashback™ cycle period

Sibusiso takes out a policy with Miway on 1 July 2025, and his Micashback™ is set to pay out on 1 August 2027. Sibusiso has a flat tyre on 1 February 2027 and so he uses his emergency service with MiHelp to get the tyre changed. The MiHelp benefit does not affect the Micashback™.

When he takes the tyre to the tyre shop for repair, he’s told he needs the rim repaired, as it was damaged by a pothole he went over earlier in the week. The rim repair is a claim on his Miwheels cover, and an excess of R5000 needs to be paid. Sibusiso decides not to claim but to rather repair the rim himself at a total cost of R1500 – he withdraws the claim with MiWay. In this case, Sibusiso’s Micashback™ will not be lost and will remain in place, with an expected payout on 1 August 2027.

The Micashback™ payout depends on you remaining claim-free until the end of the Micashback™ cycle. Any Micashback™ payout which is due in respect of the 2-year cycle will only be paid out if there are no claims that impacted the Micashback™ cycle.

If there are claims in progress when the Micashback™ payout is due, the Micashback™ payout will be placed on hold until the claim is finalised. If the claim is withdrawn, then the bonus would be paid out. If the claim is approved, however, the Micashback™ will be lost.

Any claim submitted after the end of the Micashback™ cycle but before the bonus is paid into your account will have no impact at all on your current Micashback™ payout, provided the claim incident date was not within the cycle. The only change will be that your new Micashback™ cycle will now start on the day after the claim incident date, rather than the day after the end of the previous Micashback™ cycle.

Once your Micashback™ has been paid, you cannot go back and claim for an incident that happened in that previous Micashback™ cycle.

Your Micashback™ will be lost for any liability claims that are paid or when summons are referred to us, and the incident date falls within the Micashback™ cycle.

Your new cycle will start immediately after the incident date.

Losing Micashback™ is based on whether there is an approved claim, not on whose fault it is. Any claims approved will lead to you losing your Micashback™.

• If the Micashback™ payout is delayed for any reason – say, because of an unfinalised claim or payment processing delays with the bank - Miway will not be liable to pay any interest.
• If Miway decides to cancel your policy – due to, for example, dishonesty – you will lose your Micashback™.
• Following any break in your cover which results in a new Micashback™ cycle, any premiums paid before this new Micashback™ cycle start date won’t be included in the calculation of the new Micashback™ amount due.
• Miway may at any time review and amend the rewards currency used to pay out your Micashback™. You will be notified of any changes in accordance with these terms and conditions and prevailing law.
• If Miway makes a payment in relation to a claim, you will lose your Micashback bonus.

Projected Payout Amount means the estimated Micashback™ amount to be paid out after the 2-year Micashback™ cycle. This is based on 10% of the premiums within the relevant Micashback™ cycle, and assumes no future claims, cancellations, changes in premium or missed premiums will occur during the cycle.

Expected Payout Date means the date on which the Micashback™ will be paid out – 30 days after the relevant Micashback™ cycle ends.