Insurance Policy Renewal Dates

The most popular renewal date for business insurance programs is January 1. July 1 is also common. The “quarter changes” of April and October are busy times for insurance companies, too.

Don’t have your business insurance renew anywhere near these dates. Underwriters and agents are scurrying around trying to handle three or four times their normal workload. Unless you are spending $1,000,000 a year on your insurance, you won’t get the attention you deserve. If you currently have one of the above policy dates, consider changing it to a date like February 17 or June 12.

One exception … Rarely do I recommend changing policy dates on workers’ compensation policies. The experience modification calculation does not respond well to changing policy periods. A change in policy dates always seems to increase the experience modification factor by .01 or more. That means a higher premium – usually for several years.