What should you check before renewing an insurance policy?
Before every policy renewal, check seven things: what changed in your life, whether insured sums match today's values, the deductible level, the exclusions, the premium increase, at least one alternative quote, and continuity of coverage with no gap days. Start 30 days before expiry.
What are the 7 steps before renewal?
Renewal is a useful time to review cover. Changes may also be agreed with the insurer during the year. Costs and conditions vary.
- 1. Note what changed: moving, renovation, new vehicle, family changes, new equipment.
- 2. Update insured sums: home reconstruction cost, vehicle market value, contents value.
- 3. Check your share of a claim: the amount or percentage you pay and how the premium changes if that amount changes.
- 4. Re-read the exclusions: terms change at renewal, often without you noticing.
- 5. Question the increase: if the premium went up, ask why and check what the market offers.
- 6. Get at least one alternative quote with identical coverages — otherwise the price comparison is misleading.
- 7. Ensure continuity: the new coverage must start the day the old one ends. A gap of days can even cost you the ENFIA discount.
When should you start the process?
Thirty days before expiry. That leaves time to request quotes, negotiate, and avoid being locked into an automatic renewal on worse terms. PolicyWallet tracks the expiry dates of all your policies and — from the Plus plan — alerts you in time, with a ready coverage summary so you can compare quotes on equal footing.
Frequently asked questions
Can the insurer change the terms at renewal?
It depends on the contract's duration and terms. Renewal does not always mean a new contract whose terms can all be freely changed. Ask in writing what changes and on what basis, especially for long-term health insurance.
What happens if I let the policy lapse for a few days?
You are uncovered for any loss in that window, an uninsured vehicle risks a fine, and for a home you may lose part of the year's ENFIA discount proration.
Can I switch insurers at renewal?
You can consider changing insurers. Check the non-renewal deadline, the new cover's start date and any new exclusions or waiting periods. Do not assume switching is cost-free.