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 not admin drudgery — it is the one moment each year when you can fix your coverage at no cost. The checklist:
- 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. Review the deductible: does it still fit your finances? A higher deductible means a lower premium — and vice versa.
- 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 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?
Yes — a renewal is legally a new contract. Premium, deductibles, and exclusions can all change, which is why comparing the new policy against the old one is essential every year.
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?
Yes — expiry is the natural moment to switch at no cost. Watch auto-renewal clauses: if the policy renews tacitly, send timely written non-renewal notice per the deadline in the terms.