All car insurance policies are usually renewable after 1 year. The main reason for this is that insurers reassess the risk.

There are many reasons why car insurance renewal quotes are likely to be higher, or in some cases lower. Insurers will use a variety of underwriting methods and rating factors to determine insurance renewal premiums. For example, all drivers are older and may fall into higher risk categories as far as the insurer is concerned. Car Insurance companies will also take into account policyholders who have made claims during the period of insurance.

All Insurers reassess the risk either during the period of insurance or at renewal if policyholders move address, modify their car, change the use of the vehicle or include or remove additional drivers.

It is worth remembering that Insurance is a commercial business and therefore, as with any business the main requirement is to generate profits, therefore, insurance companies will sometimes increase renewal quotes for this reason alone in addition to underwriting considerations and other rating factors.

Some new entrants and those companies who wish to grow their business quickly claim to match and in some cases beat other insurance companies renewal quotes provided certain conditions are met. The eligible criteria insisted on by some of these insurers may require drivers to be over 25 and hold at least 4 years no claim bonus. Owners of performance cars, imports, kits, classic cars and modified cars are often excluded from such promotions.

As with any type of insurance product, consider checking the eligibility criteria before shopping around for car insurance quotes.