How JoltMile handles insurance costs
Annual, monthly or per-hour cover, turned into a daily rate and spread across the driving it covers.
Last checked 12/09/2026.
What it is
Your hire and reward premium, included in your running costs so your hourly rate reflects it.
The three modes
| Mode | What you enter | How it is spread |
|---|---|---|
| Annual | The yearly premium | Divided by the days in the tax year, then across each day's shifts by hours worked |
| Monthly | The monthly premium | Multiplied by twelve, divided by the days in the tax year, then across each day's shifts by hours worked |
| Per hour | A rate per hour | Hours on the shift × the rate |
| None | - | No insurance cost is applied |
Why it is a daily rate
Cover runs whether you drive or not, so it builds up a day at a time. A £100 monthly premium is £1,200 a year, which is £3.29 a day. That is the figure JoltMile charges, every day, from the day your policy started.
The alternative was worse in both directions. Charging a whole month at a time meant one four-hour shift in a quiet month carried the entire £100, £25 an hour of insurance on its own, while the same policy in a busy month came to £1.25 an hour. Charging a whole annual premium on 6 April meant your costs said £1,200 had gone out when £200 had.
Why it is apportioned by hours
Each day's slice is split across the shifts you worked that day, in proportion to their hours, so a long Saturday carries more of it than a two-hour Tuesday. Work one shift on a day and it carries that whole day, which is exactly what a pay as you go rate would have given you.
If your policy started part way through the year
Accrual starts on the day your cover started, not on 6 April, so a policy taken out in September is not charged for the summer. Settings asks a monthly premium how many months have already gone out this tax year, and asks an annual one for the date on the certificate. Answer either and every tax year recalculates from it. Leave it blank and JoltMile takes you as insured all along, which is the right answer if you have held the same cover for years.
Insurance and tax
Vehicle insurance is not deducted from your taxable profit when you claim the mileage allowance, because the allowance already includes it. JoltMile uses insurance for your true cost and hourly rate, not for the tax estimate. That is deliberate, and it is why the two figures differ.
Bicycle shifts carry no insurance cost.
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