Things to Consider When Renewing Your Insurance

One thing you should keep in mind is that many insurance companies will renew your coverage automatically. This is a precaution so that you don’t drive around without car insurance. You still need to contact your insurance company before your renewal deadline. There is paperwork that needs to be signed so look out for your renewal notice and make note of the day that your insurance expires. This will avoid payment issues with the insurance company and will ensure that you are driving around with sufficient insurance.

Renewing your car insurance is a good time to think about the type of policy you have. Perhaps there are additional coverages that aren’t relevant to you anymore. For example, you might have added your son or daughter to you previous policy. If that son or daughter has now moved out of the house you won’t need to pay the additional cost of insuring them. When renewing you should also think about what extra coverages you might want to add on to your policy.

Canceling Your Coverage

If you’re planning to cancel your coverage then you still need to contact your insurance company before your renewal date. As mentioned in the first paragraph, your policy may renew automatically so the best way to stop your coverage is to contact your insurer before your renewal date. If you’ve found a better deal on insurance from another company then you can try and see if your insurer has any coverage that can match those premium amounts. Insurance companies don’t like to lose long-term customers.

Loyalty Discounts for Renewing Your Car Insurance

A lot of insurance companies in Canada will reward customer loyalty and allegiance. If you stick with the same insurance company then over time they will make a lot of money from the various insurance products that you need in your life. If your coverage provider doesn’t currently have a discount for renewing with them then you might want to look for a company that does offer this discount. Obviously you’ll want to check prices before you jump ship and find a new insurer but if the numbers make sense you might be better off with a new insurance company. Here are some companies that offer customer loyalty discounts for car insurance.


Aviva is one of the companies in Canada that offers renewal discounts to their auto insurance customers. They also have a discount for “claims free” customers, insurance bundling discounts, and a multi-vehicle discount.


If you live in the United States then you can take advantage of Progressive’s Loyalty Rewards program. Over time your discounts will increase as long as you keep your car coverage with the company. If you have had a long streak of accident-free driving then you might even be able to avoid a rate increase after an at-fault vehicle accident.


GEICO is another US insurance company offering a renewal discount. If you stick with GEICO you can save as much as 30%. Their website doesn’t say how long you have to stay insured with the company so for more information contact a GEICO representative by calling 1-800-861-8380. Again, GEICO only provides insurance in the United States.

There are other Canadian companies with loyalty discounts. Next time you go to renew you car insurance you should ask your insurance agent about any applicable discounts. If your premiums are quite high and there aren’t any discounts available then you might want to consider getting a quote from a different company.