How do policy renewals work?
Most commercial policies are written annually and auto-renew unless either party affirmatively cancels. Renewal cycle:
- 90+ days before expiration: carrier sends preliminary renewal indication; we pull loss runs and assess whether to re-shop the market.
- 60–90 days before: we re-quote the account against incumbent renewal and present options.
- 30–45 days before: client makes a binding decision; we issue paperwork.
- At expiration: new policy goes in force; new COIs issued as needed.
A renewal is a fresh underwriting evaluation — the carrier can change terms, raise rates, restrict coverage, or non-renew for any (legal) reason. We don't treat renewals as administrative formalities; meaningful re-shopping at every cycle is how clients keep coverage and pricing aligned with the market.
- Category
- Billing & Claims
- Audience
- All audiences
- Topic
- General
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