It’s renewal time!
Insurance policy terms are commonly 1-year or 6-months in length. At the end of each term your insurance company will send a renewal notice and renewal terms, usually around 30 days before your policy is set to expire. This renewal notice serves to notify you of any changes to your policy such as your premiums or deductibles.
As your insurance agent it’s our responsibility to help you navigate the renewal process and be your advocate. Here are four things you can expect from us during your renewal process.
1) You’re going to be hearing from us a bit more.
We will be getting in touch a bit more frequently during this period so that we can collect the information we need and prepare for our part of the process. This will include getting an update form from you that helps us know if there are any changes we don’t know about.
2) We’ll be preparing for your renewal notice
Your insurance carrier will send us your renewal notice as well. We may even get it a little earlier than you. Either way, we will let you know when we have received the notice and the next steps we will take. Give us a couple of days after we’ve received your renewal notice to take a proper look at the terms and come up with an action plan for you.
3) Recommended Action Steps
Based on the information we receive from your insurance company, we will let you know whether we recommend you stay with your current policy, if a requote of your policy is warranted, or if we need to bundle your policy to receive a discount.
We will take many factors in to consideration such as the current state of the insurance market, whether you’ve had any recent activity (claims, tickets, cancellations, etc.), insurance company standard rate increases, any changes in your insurance needs, and many others.
4) Set Up New Policy
Whether you are staying with your current policy or needing to move insurance companies, we will help you through the steps! Making sure that the renewal is set up properly for the upcoming term and ready to be issued. This is when we will collect any necessary payments and collect any unsigned documents we haven’t already received.
As your agent we want to make sure your renewal process goes as smooth as possible. If you have any questions along the way always let us know so that we can help!