Why You Should Renew Your Policy In Advance

The renewal date of your insurance policy is based upon the date your policy has been activated. So it could actually happen on any day of the year depending on when you originally started the insurance plan.  Renewing your policy in advance may have some really pleasant benefits, like obtaining lower rates.  Read our blog-post and find out why you should renew the car insurance policy in advance. We also recommend you to get car insurance quote and compare prices.

increasing-insurance-premiumsRenewal information is usually mailed or e-mailed to you 45 to 30 days in advance of your renewal. You will receive a declaration page along with other information detailing your policy. New proof of insurance is usually sent with the declaration page. This is the best time to review your policy to verify discounts or make changes to coverage. It is a nice reminder because sometimes insurance is easy to forget if you haven’t had the need to use it recently. It is a good time to contact your insurance agent to review your policy. Now is the time to decide if you want to continue or not. If you do, make the renewal payments.

Making your payment notifies the insurance company you want to continue the policy. It is especially important to pay your renewal payment on time because some carriers do not allow any grace period between renewals. It is equally important to cancel your insurance policy if you do not want to continue because some companies do extend a grace period and may charge you for the grace period if you do not notify them of cancellation. This prevents any car insurance gap that will later make you pay higher premiums. Also, many carriers provide specific discounts if you want to renew the policy in advance.  This will make the time spent for filling papers really worth-while.

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