Definition - What does Renewal Certificate mean?
A renewal certificate is a document that an insurance company sends to its policyholders after they have renewed their policy. This serves as proof that the policy has been renewed and that there is still legitimate coverage for the new policy period.
Insuranceopedia explains Renewal Certificate
Some policies renew automatically, but if a policy does not have automatic renewal, the policyholder will have to contact the insurer and schedule renewal. If the insurance company approves of the renewal, they will send a renewal certificate to the policyholder.
Insurance companies save time and money by sending renewal certificates instead of sending entire, brand new policies.
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