When you started your policy with NEXT, we set a clear price and payment plan. As your policy renews at the end of its term, its price may adjust up or down due to market factors. We understand seeing a price change at renewal can be a surprise. Here are some things that can affect your renewal price and ways you can navigate these changes.
The Cost of Protection Can Change
The cost of protecting your business can change. At renewal, your policy price might go up or down, influenced by factors beyond our control that affect the entire industry:
- Changes in state insurance laws: New rules can impact protection costs.
- Inflation hikes: The cost of repairs and services, like everything else, can rise.
- Increases in natural disasters: More frequent events can raise the risk and cost of coverage.
These factors directly impact the cost of related services and claims, ultimately leading to fluctuations in policy prices.
Looking for Other Options?
If you'd like to explore other options, our partner Tivly offers commercial insurance from top-rated carriers. They can help you find a great price on coverage for your business.
Click here to visit Tivly and get a quote.
What Happens Next?
If we don't hear from you, we'll renew your coverage with NEXT. Your first payment for the new policy will be charged 30 days before it starts. To review your upcoming policy, simply log in to your customer account.