How do you calculate my bicycle insurance share?

Change effective as of 1/2/24

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.

We charge your share based on the cost of claims that have occurred in the previous month. The total cost of claims plus IPT is split proportionally across the collective. Every extra £ in gear value increases your share.

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.

If it's your first month with us, don't worry! We don't charge you for the whole month - just for the days after you sign up. Your policy will roll over at the beginning of the next month and we'll start the calculation afresh.

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