How is the rebate calculated?

Version 2 (applicable for policies incepted February 2024) 


Each factor has defined bonus thresholds: Safety Score (1-3%), Time to Report (1-3%), and Loss Ratio (1-4%). The total bonus cannot exceed 10%. If there are no claims, you will receive 3% in replacement of the Time to Report rebate (there will be no TTR calculated).

Version 1 (applicable for policies incepted between June 2022 - February 2024)

The loss ratio determines your fleet's eligibility for a rebate. If this is less than 55% then you will qualify for a rebate of up to 10% based on your mileage and Safety Score. 

Of the maximum 10%, 6% of this is weighted towards mileage and 4% weighted towards Safety Score. For more information on how the Safety Score is calculated, see How is the Safety Score calculated?