The Member Dividend is Goodcover’s commitment to fair and transparent insurance. It’s our way of making sure we’re good stewards of your money, and it holds us accountable to you. 

Here’s how it works: we aim to spend 80% of premiums on Member claims and take a fixed fee of 20% for operating costs. If we spend any less than 80% on claims, we give back the remainder to our Members via the dividend. The Member Dividend is paid out annually, with an expected value not to exceed 10% of your premium contribution. Members will have a choice to apply the dividend for future use or donate it to the Goodpool

Whether Goodcover pays a Member Dividend in a particular year depends on money available in the pool and up to the discretion of Goodcover’s board. Whether Goodcover pays your dividend directly to you, through discounts, or saves it for future payments varies and is dependent on each Member’s state law. For additional details, please see our Legal Notices document. 

Members can view their dividend status and history on the Member Dashboard.