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Hey, we are quite transparent about his and you can read all about it here: [https://laka.co.uk/en/article/how-we-calculate-your-quote-gcutxs/]
Over a 12 months period expect to be around 55% of the cap. In Summer of course there are a few claims more (particularly May with 2 bank holiday weekends). In 18 months of trading we went only once over the 80% mark.
All the best, Tobi
Co-founder of Laka
user101349-
The data you've linked to includes figures for 6 months - May of course is the one that went over 80%.
Since those 4 of those 6 months are probably likely to see the lowest claims due to winter, would it not be fair to assume that the quotes will increase as more data is added and until 12 months of data exists?
And therefore that people who have taken out policies in the last few months will probably see on average a higher charge than they expect to?(full disclosure, am one of those who has taken out a policy in the last few months, and my first two months were 85% and 100% of cap)
lf
Laka users - how often are you paying the base rate, and how often are you paying the capped rate?
I like the idea of the model but I will like it less so if I’m paying the capped rate eight months out of 12.