Did you know that this is the time of year when most people forget to renew their insurance policies. We did a little research here at the office and it seems that year on year, this is when people tend to leave their renewals too late.
The reasons for this are pretty obvious. The kids are off school, the weather is at its best and it is when most people are likely to take a holiday away from home. The bottom line is, we all have better things to do than renew our insurance at this time of the year.
The thing is there are two big reasons why you should not forget to renew your insurance. The first is that you may have a renewal discount on your premium. Many insurers put a small reduction such as 5% or 10% discount off of the normal price. If you don’t renew in time then you would have to take out another policy and pay the normal price. Not only would it be more expensive, you would more than likely have to get lots of new paperwork through the post again.
The most important reason though is the fact that you won’t be insured. The minute that policy expires, you will have no cover on your car, home, business or whatever it may be. Even if you ring up the day after it was due for renewal, it will be too late.
The reason you took the insurance out in the first place was probably because you can’t afford for something to go wrong. If this is the case then make sure you renew on time. Their is no harm in renewing a week or two early as your policy will still be dated from the renewal date for another 12 months assuming it is an annual policy that you have.
If you are planning a holiday away from home for a few weeks and your insurance is due while your away then remember to sort it out before you go.