Pause billing for any vehicle be deactivating the Bookings toggle
When does real-time allocation occur?
Immediately, each Stripe transaction processed through Loopit has the allocation applied at the time of payment.What percentage is allocated?
The standard allocation is **2.5%**. For accounts in arrears, this may be increased temporarily.When are credits applied to invoices?
Credits are applied to the invoice corresponding to the month in which the Stripe payments were processed. For example, allocations made in July appear on the July invoice, issued at the start of August.
Which invoices were impacted?
All invoices issued since migrating to the Loopit 2.0 billing structure were affected by the incorrect volume-based calculation.Do I need to do anything?
No action is required. The affected invoices will remain as issued, and your future invoices will automatically reflect the corrected pricing structure.Will my next invoice be higher?
Possibly — your upcoming invoice will reflect the correct tiered billing model, which may result in a higher Fleet Usage Fee compared to the incorrectly discounted amount in previous invoices.Will this impact other fees or services?
No — this issue only affected the calculation of the Fleet Usage Fee. All other platform charges were billed correctly.# Loopit Damage Cover – Product Overview (Australia Only) Loopit Damage Cover is a fully integrated, CGU-underwritten protection product tailored specifically for the unique needs of car subscription and rental businesses. Unlike traditional fleet insurance, Loopit Damage Cover is purpose-built for usage-based billing models and automatically applies cover only on the days a vehicle is actively subscribed. {% hint style="info" %} **Important**: Loopit Damage Cover is currently only available in Australia. For other markets, please contact our sales team to explore regional solutions. {% endhint %} ## Why Loopit Damage Cover? As subscription and rental models become more common, the traditional insurance market has struggled to keep pace. Loopit Damage Cover was developed in direct response to the needs of operators looking for flexible, scalable protection that aligns with how modern fleets are used and monetised. * Only pay for the days vehicles are subscribed * No manual reconciliation or reporting required * Backed by CGU Insurance * Integrated with Loopit billing and operations This is another example of Loopit supporting the infrastructure needed for the car subscription industry to grow—delivering smarter, more adaptive products that remove operational friction and lower barriers to entry. ### Fees * **Monthly Damage Cover Fee:** A recurring fee charged per vehicle, per month. This fee is pro-rated daily according to actual usage within the month and will appear on your regular Loopit billing. * **Annual Fee:** A non-refundable yearly fee of $1,200 is charged per customer for access to the Damage Cover product. This fee is invoiced in advance and covers the 12-month access period. {% hint style="info" %} **Important:** \ Coverage is only valid once the annual access fee is paid. Non-payment will result in no cover being active. {% endhint %} {% hint style="info" %} **Cancellation:** We reserve the right to cancel the policy with **14 days’ notice for any reason.** If we choose to cancel the policy, we will apply a **pro-rata credit** for the annual access fee. {% endhint %} ### Excess Basic Excess: A $5,000 excess applies per loss, per vehicle. This is payable in the event of any valid claim. ## General Policy Conditions ### Drivers * No cover for drivers under 21 * No cover for Learner (L) or Provisional P1 licence holders * No cover for vehicles used on Ridershare platforms ### Rentals/Subscriptions * No cover for vehicles rented via Peer-to-Peer (P2P) platforms * Cash rentals are not covered * Credit card rentals must be authorised prior to vehicle handover. The cardholder must match the renter or co-renter. ### Identification Requirements In the event of a theft claim, cover may be denied if the subscriber/renter’s identity was not verified with: * A valid driver’s licence or passport (with photo), **and** * One additional form of ID (credit card, Medicare card, or other photo ID) ### Eligible Vehicle Categories Damage Cover is available for the following types of vehicles only that have a value of $75,000 or less: * Passenger – Electric vehicles * Passenger – Standard vehicles * Passenger – People movers * Passenger – SUV\
The following vehicles are **excluded** from cover: * Exotic vehicles, American muscle cars * Buses, trucks, prime movers, semitrailers, B-doubles, road trains * Plant & machinery Please notify us immediately if you wish to cover a vehicle in the Prestige or Sports categories, as specific terms may apply. For fleet additions greater than $75,000 in value, please contact us for a quote. ### Cover for your vehicle Damage Cover provides indemnity for loss or damage to your vehicle within Australia. The maximum that is covered in respect for any one loss or all losses arising from one event is $1,000,000, less any applicable excess. Loopit or its insurer may choose to: * Repair the vehicle * Replace the vehicle * Pay the agreed sum insured {% hint style="info" %} **Special note:** If the vehicle's GVM exceeds 4.5 tonnes and the Sum covered is less than 80% of its market value, a proportional settlement may apply. {% endhint %} ## Exclusions ### Specific exclusions (Vehicle Cover) Damage Cover will **not** apply to: * Tyre damage due to braking, punctures, cuts or bursts * Further damage after a loss if vehicle wasn’t secured * Vehicles covered for third-party only * Wear and tear, rust, or mechanical/electrical failures * Theft by renters where ID verification steps were not followed * Design or specification faults * Third-party injury or property damage (covered under next section) ### Specific Exclusions (Liability) Liability cover will not apply if: * The vehicle is used as a Tool of Trade * The incident is caused by pollution or waste discharge * The damaged property is in your custody/control (unless under $100,000 and not owned by you) * The claim involves fines or penalties * The incident involves compulsory third party (CTP) insurance events * The injury/death is to the driver, your employee, or family member * The vehicle is registered in the Northern Territory * The vehicle is not registered for use on a public road ### General Exclusions (All Use) No cover will apply if: * The driver is under the influence of drugs or alcohol * The driver is unlicensed (with limited exceptions for forgery) * The driver is under 21 * A renter breaches the rental agreement * The vehicle is overloaded beyond legal limits (unless unknowingly) * The vehicle is unroadworthy and the condition contributed to the loss * The vehicle is used: * For illegal purposes * In motorsport, driver training or testing * For unauthorised passenger transport (except pooling) * In any race, rally, or contest * The vehicle is lawfully seized * The loss is caused by war, rebellion, or other military/political actions {% hint style="info" %} **Please note:** The policy is subject to change. Any updates will be communicated to you in advance and reflected in this documentation. {% endhint %} ## FAQ
1. What does the Damage Cover product include?
Loopit’s Damage Cover product provides financial protection against loss or damage to your subscribed vehicle, as well as liability cover for third-party property damage (within policy limits and subject to exclusions).2. What is the excess I’ll need to pay in the event of a claim?
A **$5,000 Basic Excess** applies per incident, per vehicle. This must be paid before any approved claim is settled.3. What is the $1,200 yearly access fee for?
The $1,200 annual access fee provides ongoing access to the Damage Cover product. It is non-refundable and invoiced annually in advance.4. Is the annual access fee refundable if I cancel early?
No, the fee is **non-refundable** if you choose to cancel. However, **if Loopit cancels your coverage**, a **pro-rata credit** will be applied for the unused portion of the access fee.5. What types of vehicles are covered under Damage Cover?
Eligible vehicles include: * Passenger standard vehicles * Passenger SUVs * Passenger people movers * Passenger electric vehicles Vehicles like exotic cars, trucks, buses, or American muscle cars are **not covered**.6. Can anyone drive the vehicle under this cover?
No. Cover is only valid if the driver: * Is **21 years or older** * Holds a valid driver’s licence * Is not a **Learner (L)** or **Provisional (P1)** licence holder * Is not using the vehicle for **Ridershare** or **Peer-to-Peer** platforms7. Do I need to verify the identity of the subscriber/renter?
Yes. If you do not verify the subscriber/renter’s identity according to the policy requirements (photo ID + second form of ID), your claim may be denied in the event of theft or misuse.8. What happens if I don’t pay the annual fee invoice?
If the access fee invoice is not paid, you will not have active Damage Cover. The policy will not apply to any losses from 1st of September 2025 onward (or your relevant start date).9. Can Loopit cancel my Damage Cover policy?
Yes. Loopit reserves the right to cancel the policy with **14 days’ notice** for any reason. If this happens, a **pro-rata credit** for the annual access fee will be provided based on the unused period.10.How can I lodge a claim?
You can follow our step-by-step guide in this article: [How to lodge a Claim](/getting-started/welcome-to-loopit-2.0/loopit-damage-cover-product-overview-australia-only/how-to-lodge-a-claim) It covers how to access the portal, what to include, and what to do if you're unable to access the portal. If you still need help, feel free to email **When can I access the Damage Cover Claims Portal?
Access is granted once your annual Damage Cover fee has been paid. Please email **What information do I need to provide when lodging a claim?
Whether through the portal or by email, please include: * Business Name * Contact Details * Vehicle Details (e.g. registration, make/model) * Summary of the Incident * Date, Time and Location * Any relevant supporting documents (e.g. photos, police report, driver details)What file types can I upload to the portal?
You can upload common file formats such as PDF, JPG, PNG, DOCX, and XLSX.What if I can’t access the portal?
If you’re unable to access the portal, you can still submit your claim by emailing **| Type | Source | Description |
|---|---|---|
| Actual | Manual entry or linked inspection template | A verified odometer reading taken directly from the vehicle. |
| Estimated | Telematics device | A calculated odometer value based on trip distance since the last actual reading. |
Why doesn’t Loopit use the odometer value from my telematics device?
Loopit avoids using the raw odometer value from telematics devices because devices can be moved between vehicles or experience GPS irregularities. Instead, Loopit calculates odometer estimates based on trip data for improved consistency and accuracy.How often does Loopit update estimated odometer readings?
Loopit fetches telematics trip data every **30 minutes**. Each trip is validated to ensure the distance travelled is realistic before being applied to the estimated odometer total.Can I correct an estimated odometer reading if it’s too high?
Yes. Simply click **Add Odometer Reading** and enter the verified value from the vehicle dashboard. Loopit will reset the baseline and continue estimating from the corrected value.How do I know whether a reading is estimated or actual?
Each entry is clearly labeled in the **Meter Type** column. * **Actual** readings appear in green and are sourced from manual entry or inspections. * **Estimated** readings appear in purple and are calculated from telematics trip data.How do I know what the current odometer of the vehicle is?
The **most up-to-date odometer reading** is displayed at the **top of the Odometer Readings page** for each vehicle. This value may be either: * **Actual**, if the most recent update came from a manual entry or inspection template, or * **Estimated**, if the most recent update was calculated using telematics trip data. The displayed value always represents the latest known odometer reading for that vehicle and is automatically used to populate any **contract or agreement fields** that reference odometer data.Attaching a device to a vehicle
Devices overview
You can find 'Fleet' under 'Assets'
Click on the 'Actions' button and choose 'Maintenance window' from the dropdown
Head to the assets 'Bookings' tab to view the Maintenance Window
Create an issue from the navigation menu.
Change issue status
Creating a custom status for an issue
Default priorities or create your own
\
{% endstep %} {% step %} ### Set up alerts for when a service is due Configure an alert to notify you when a service is due on an asset. 1. Navigate to **/settings/workflows**.
2. Use the predefined template to create a task.\  3. Select **Asset Service Reminder Created**.\  4. (Optional) Edit the workflow to send email alerts. {% endstep %} {% endstepper %} ## Trigger a Service Reminder ### Test To test the service reminder functionality using an odometer-based plan: 1. Follow the setup steps above. 2. Go to an asset with an odometer-based service schedule. * Note the next service is due at 24 km.\  3. Click the **Meter Readings** tab.\  4. Click the **+** button, select **Meter Reading**, enter a reading of **24 km or higher**, and click **Save**.
### Viewing Triggered Alerts 1. Go to the workflow’s **Run History** tab to see triggered alerts.\  2. The service reminder will also appear in the **Reminders** tab.\  # Inspections ## Creating an Inspection Template {% embed url="
| Stage | Description | Action Required |
|---|---|---|
| Lead | Basic contact info only | Follow up to qualify |
| Quote | Includes booking details and pricing | Follow up to complete |
| Request | Submitted booking with payment info | Review and approve |
| Confirmed | Fully approved booking, ready to proceed | Prepare for handover |
| Stage | Description |
|---|---|
| Quote | Bookings which have been started or partially completed but not confirmed by your business. This includes leads / dropped leads or quotes which you have created and sent to prospective customers. |
| Confirmed | Confirmed bookings are accepted bookings by your business. This means that you are expecting them to pick up the vehicle on the pickup date, time and location. |
| Activated | These are bookings which have had customers pick up the vehicle and are currently out with the customer. |
| Ended | Ended bookings are completed bookings which have been returned. |
| Cancelled | Cancelled bookings are Confirmed bookings or Draft bookings or reservations which were never picked up by customers. |
3. In the dialog, users can adjust the price in two ways: 1. **Amount**: Enter a specific amount to override the existing charge. 2. **Percentage**: Enter a percentage increase or decrease to adjust the charge. Both the amount and percentage can be either positive (increase) or negative (decrease).\ \  \ \
4. After entering the adjustment, click the 'Save Adjustment' button. The dialog will close, and the adjusted charge item will display the new price, highlighted with a dashed underline. You can also view both the original and adjusted prices by clicking on the highlighted price.\ \ 
5. Finally, click on the 'Save changes' button to apply and save all adjustments made. 6. On the Booking Overview page, users can view a list of charges with adjusted prices clearly highlighted.\ \ 
# Confirmed booking updates What is allowed what is not allowed how it impacts draft invoices # Active booking updates # Swapping the fleet how to swap what happens to invoicing if activated Credits that get generated # Schedule Booking Changes The **Scheduled Booking Changes** feature allows you to plan updates to a booking that will take effect on a **future date**. This enables you to make changes without immediately impacting the current billing or booking configuration. You can schedule a variety of changes to a booking that will take effect on a future date. These include switching to a different package, swapping the asset, changing the billing frequency, and adding or removing extras. These changes are applied automatically on the selected effective date, allowing you to plan ahead without impacting the current billing cycle or booking configuration. ### Billing Behaviour #### No Pro-Rata on Billing Day If you schedule the changes to start on the **same day as the booking’s billing day**, **no pro-rata charges or credits** will be applied. * **Monthly Billing Example:** * Billing day is the **15th of each month** * You schedule changes to start on **May 15th** or **June 15th** → No pro-rata adjustments * **Weekly Billing Example:** * Billing day is **Wednesday** * You schedule changes for any **Wednesday** → No pro-rata adjustments In these cases, the current billing cycle ends, and the new charges start cleanly from the next cycle. #### Pro-Rata Applied on Other Days If the **effective date does not match the billing day**, the system may generate: * A **pro-rata invoice** for new charges from the effective date to the end of the billing cycle * A **credit note** for any unused portion of the old charges You’ll be shown a **summary of these adjustments** before confirming the scheduled change. ### How to Schedule a Change 1. Go to the **Edit Booking** screen. 2. Make the necessary changes. 3. Select a **future effective date**. 4. Review the **Adjustment Summary** to see if any credits or charges will be applied.
* **"Package Change Scheduled"** * **"Asset Swap Scheduled"** * **"Booking Change Scheduled"** (for other types)
Cancel a booking
Why does a 25-hour rental booking count as 2 days?
Loopit calculates rental bookings in 24-hour periods. If a booking exceeds 24 hours—even by one minute—it is rounded up to the next full day.\ \ *For example:*\ 25 hours ÷ 24 = 1.04 → rounded up = 2 daysWhat happens if a rental booking is only 2 hours long?
It will still be counted as **1 day**, since any booking that is up to 24 hours is considered a single rental day.Can I override the booking duration manually?
No. The booking duration is automatically calculated based on the **start and end time** of the booking. To change the duration, you will need to adjust the booking times.Are subscription bookings calculated the same way?
No. Subscription bookings are based on **calendar billing cycles** (weekly, fortnightly, or monthly).How can I avoid extra days being added to a booking?
Ensure that the **end time** of your booking aligns within a 24-hour multiple from the start time. This can help avoid triggering an additional charge due to slight overlaps.Update the referral source
Customers can enter how they heard about you
| Value | Use case and meaning |
|---|---|
| Deposit | Deposits against a package are generated on seperate invoices to other charges. This is to allow easy handling of held deposits and refunding to customers. |
| Non deposit | All charges e.g. daily fees for rental, add ons, ad hoc invoices |
| Value | Use case and meaning |
|---|---|
| Draft | Invoice has been created and can be changed |
| Proforma | This status is reserved for deposit invoices that have a held payment i.e. no money has been captured on the customers card, just held for future capturing. |
| Issued | Customer has been issued the invoice and it cannot be changed. |
| Void | Invoice has been cancelled and cannot be edited. |
| Value | Use case and meaning |
|---|---|
| Unpaid | No money has been received. An invoice can be in this status if a payment is pending e.g. ACH, BACS, etc |
| Partially paid | An amount of the invoice total has been successfully paid. |
| Paid | All outstanding money on the invoice is paid. |
| Value | Use case and meaning |
|---|---|
| Successful payments | The total of payments successfully captured and finalised. |
| Pending payments | Payments that are currently processing e.g. ACH, direct debit can take a few days |
| Held payments | Payments held but not yet captured |
| Outstanding balance | A sum of the invoice total - successful payments. We do not include pending payments in this number |
Overdue of late invoices
Charging a late fee
Example of invoices being sent to accounts@ with other comms going to peter@
View how to disable sending invoices here
1. Head to the People tab 2. Look for the person 3. Remove the email address from the 'Email invoices to' field\  4. As long as this field is empty - invoices will not be sent to this customer.### Example of a recurring invoice with merged scheduled charges
| Column Header | Description |
| Vehicle Identification Number | Optionally enter the VIN. You only need to provide one of VIN, Registration Number, or Stock Number to identify the vehicle. |
| Registration Number | Optionally enter the vehicle’s registration number. |
| Stock Number | Optionally enter the vehicle’s stock number. |
| Created On | Enter the date and time the charge was incurred. The format must match what’s specified in the Date Format column. |
| Date Format | Use Excel-style syntax to define how the date is written in the “Created On” column. See below for examples. |
| Amount | The total amount of the charge, in your billing currency. |
| Tax Included | Enter Yes if the amount includes tax, or No if tax should be calculated and added. |
| Item | Enter the Loopit Item Type (e.g., "Toll", "Fine", "Damage Fee"). This determines the correct tax treatment. |
| Item Description | A short description of the charge — this will appear on the invoice issued to the customer. |
| Status | Meaning |
|---|---|
| Initiated | Payment authorisation has started. All payments have this status and quickly transition to another status. |
| Processing | Payment is being processed. Cards are near real time, some methods like ACH and direct debits can be in this status for a number of days whilst the banks process the payment. |
| Success | Payment has been captured and the amount successfully taken |
| Failed | Payment has failed, a failure reason is available |
| Cancelled | Payment has been cancelled by a user or the bank e.g. direct debit |
| Held | Payment authorisation has occurred but the amount has not been captured. Funds are typically available for capturing. |
Click setup to proceed to connect
Disabling the next attempt from the invoice overview
From a booking payment section you can see auto pay status.
Enabled
(Default for each new booking)