The premium payable for the renewal of an insurance.
Tag: RAW
Renewal premiums
Monthly, semiannual, or annual premium payment after the initial premium has been paid.
Renewal provision
Clause in an insurance policy that either gives the insured the right to continue insurance coverage or allows the insurance company to refuse to renew coverage, cancel coverage, or increase the premium.
Renewal rating
Insurance company’s evaluation of the premium and claim expense for a group plan to determine if a rate change needs to be made.
Renewal Receipt
A document issued in lieu of the Policy at renewal.
Renewal service call
Visit made by the insurance company’s insurance agent to the insured to discuss an existing policy and give any additional service that may be warranted.
Renewal underwriting
Evaluation of the premium and claim expense of an existing policy to set renewal premium rates and create terms for the next year of insurance.
Renewals
A general term used to refer to any premiums paid toward a renewed policy.
Rent a Car for Motor
The vehicles of various categories are available on rent from Motor Cycles/Scooters to Buses on Hire/Charter basis for the convenience of consumers. The consumer is required to possess valid and effective driving licence and pay a nominal amount as deposit to hire a vehicle duly insured for damage to the vehicle or liability to third party property damage or bodily injury.
Rent Insurance
Insurance for the protection of a building owner’s receipts. In the event that a tenant does not pay rent because of perils such as Fire etc. the Insurance Company will pay for such losses.