‘Pro-rata’ or ‘time on cover’ refers to the premium charged for the number of days for which cover has been given when a policy is cancelled before its end date.
For example, if you cancel six months into your policy, 50% of your premium will be charged, unless a claim has been made on the policy in which Darwin hasn’t recovered all of the money owed to them then you would need to pay the premium in full.
Please note that there may be other fees payable too: kindly refer to the Arrangement Agreement for more details about fees and charges.