Renewal notices are designed to be easy to ignore. The amount is familiar, the cover sounds the same as last year, and paying takes less time than reading. That is exactly why it is worth fifteen minutes.
Renewal is the one point in the year when you hold every card. You are not making a claim, you are not in a hurry, and your insurer would very much like you to stay. Use it.
What changed in your life this year?
Insurance prices risk as it was when you bought the policy. If your circumstances moved and the policy did not, you are either paying for cover you no longer need or carrying a gap you do not know about.
Worth checking:
- A new car, or one you no longer own
- Moving house, or a change in who lives there
- A child born, or one who has finished school
- A business you started, or a loan you personally guaranteed
- Anything expensive you bought that you assumed was covered
What are you actually covered for?
Most people can name their insurer and their premium. Far fewer can name their excess, their exclusions, or the limit that applies per claim rather than per year. Those three numbers decide what actually happens when you claim.
If you cannot say what your excess is without looking it up, you do not yet know what your policy does.
The five questions
Ask these in writing, and keep the reply.
- What is my excess, and does it differ by claim type? A low premium with a high excess is not a cheap policy; it is a different policy.
- What is excluded? Ask for the list, not a summary of it.
- What is the claims process, and how long does it usually take? A number in working days is an answer. "Quickly" is not.
- Has my premium changed, and why? A renewal increase with no change in your circumstances is a conversation, not a fact.
- Is there a better-suited product now? Insurers add products. Nobody automatically moves you to one.
Comparing on price alone
The table below shows why two policies at the same premium can be very different things. The figures are illustrative.
What you compare | Policy A | Policy B |
|---|---|---|
Premium | The same | The same |
Excess | Low | Several times higher |
Claim limit | Per claim | Per year, across all claims |
Exclusions | Short, specific | Broad, with wide categories |
Claims turnaround | Stated in the policy | Not stated |
Two policies, one premium, and only one of them pays out the way you expected.
A note on paperwork
Keep the schedule, not just the certificate. The certificate proves you are insured; the schedule is the document that says for what. If you have only ever been sent one of the two, ask for the other.
Renewal season is also the right time to check whether the product still fits, rather than only whether the price does. Our advisers will go through the schedule with you line by line — you can talk to the team or look at what we cover first.