What does pro-rata or time on cover mean?

If your insurance is cancelled for any reason, you will be charged the cancellation fee as well as the charge for any cover you have received.

We also may have discounted your premium. In the event that your policy is cancelled, we will retain any discounts that have been applied in pro-rata to your policy length.

When a policy is cancelled before its end date, you will be charged pro-rata to your time on cover.  This means that we will charge you in proportion to the length of your policy up to your cancellation.

For example, if you cancel six months into your policy, we would retain 50% of your premium in proportion to the time you’ve had the policy for.

Please note the amount will be either added to the outstanding balance after your policy is cancelled, or, if you are owed money back, it will be deducted from the refunded amount.

Do you charge commission?

iGO4 may receive payment for arranging insurance policies in the form of commission paid by the insurer that provides your cover. This is a percentage of your premium and is included in the overall price you pay for your insurance, as well as certain fees which you pay directly to us. This commission will be retained pro-rata should you cancel your policy.


Keywords: fees, charges, premium, payment, cover, time insured, cancel, end of policy,