At the end of the month you will receive a billing e-mail showing your share of the month's claims, meaning how much we are going to charge you.

Your share is the sum of three components:

The actual cost of claims in your pool of cyclists
We then add our fee of 25% on top and
Finally the Insurance Premium Tax (IPT) of 12%

Each month, we add up the cost of claims we have settled for the community. Let's say this is £1,000 in a given month. We then add our fee of £250 (the 25% fee described above) to get to £1,250. Lastly, we add Insurance Premium Tax of 12%, or £150, to get to £1,400 in total costs.

This total is then divided amongst the community in proportion to the value of your insured gear. Every extra £ in gear value increases your share.

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 have signed up. Your policy will roll over at the beginning of the next month and we'll start the calculation afresh.

Should your calculated share be higher than your personal cap, you'll only pay the cap, and we'll pass the rest on to our insurance partner, Zurich UK.

Fair and square.
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