policy-renewal-explainer

# Explaining a renewal Most renewal complaints are about surprise rather than price. Remove the surprise. ## Lead with the change Old premium, new premium, and the difference — as a number, first. Then what changed in cover, excess or limits, in a two-column comparison. Then the drivers of the price movement that are documented for this policy. ## Be precise about drivers Name only what the record supports: a claim, an age band, a change in cover, an indexation clause. If the movement is partly market-wide repricing, say that plainly rather than dressing it as something specific to them. ## Give the options Renew as offered · adjust cover or excess and what each does to the price · decline and what the cancellation terms are · when they must decide. ## Never Present an increase as an improvement, bury a reduction in cover, or state a saving against a figure the customer never paid.