At the end of the month you’ll receive a billing email showing your share of the month's claims costs and the Laka Fee you’ll be charged.

Your share is calculated using the cost of claims in the previous month and your individual risk factors, plus our Laka Fee. The total cost of claims is split proportionally across the collective, and will never be more than your guaranteed cap.

We calculate shares for our Bicycle Insurance and Health and Recovery Insurance products separately.

In addition to your share, we’ll charge you the Laka Fee. That means 80% of what you’ll pay which will be the cost of fulfilling claims, 20% will be our fee.

Starting a Policy
We charge customers for days on cover. If your policy starts part-way through a month, we will pro-rata your price for the days you spent on cover. This may mean you have a very low bill, but this is just for the days you spent on cover.

Pausing / Cancelling a Policy
If you pause/cancel your policy part way through the month and you are not within your 14-day cooling-off period, we will pro-rata your price for the days you spent on cover and charge you at the end of the month.

Fair and square. As always, if you need help, contact us.