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What is a renewal?

Each insurance policy is a 12-month contract between you and Trade Me Insurance. Near the end of your 12-month contract, we will review your policy and may offer to insure you for another 12-month term. If we do, this is called a renewal and there are a couple of things you can do to make sure your policy is up to date.

If you don't need to make any changes then sit back and relax, your policy will renew automatically.


My insurance is renewing, is there anything I need to do?

  • Review your policy. Your renewal is a good time to decide about new additions or adjustments you may want to add to your policy. For example, have you brought anything new that needs to be added to your contents insurance?

  • Review your payment frequency, method or date. You may want to change the type of payment you make if you are in a different financial position than the previous year. Annual payments can save you up to an additional 10% discount on your premium which can be helpful.

To see more options, check out Payment options explained.


My premium went up, what happened?

It could be a number of reasons. Have a read of these articles for more information as well as tips to reduce it:


Can I make a change before my renewal?

Yes you can! A couple of weeks before your policy renews, we'll add your new policy to My Insurance. You'll see the new policy, with a new set of cover dates, as well as your old policy.

If you want your change to be effective immediately, you can make it to your 'old' policy. We will apply this change to the old policy and carry it over to the new policy. Or, if you want your change to be effective from your renewal date, then ignore your old policy and just make the change to your 'new' policy. 


Some tips:

  • If we change any part of the policy, we'll let you know what's different, but be sure to read your documents so you're aware of what's covered. 
  • Your current documents will still be available on My Insurance. You can also find the link to your latest policy wording in your Certificate of Insurance.
  • Always check that your information is up to date. This will help at claim time and if we need to contact you.

Still unsure? Fire up a live chat or contact us, we are here to help.


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