If you're looking to renew your car insurance, you may come across the term "renewal premium." So what is a renewal premium?
A renewal premium is simply the amount of money you'll need to pay to keep your car insurance policy in force for another term. This amount can differ from your original premium since it's based on current market conditions, your driving history, and the car you drive.
If you're happy with your current insurer, you can usually just pay your renewal premium and your coverage will continue. However, it's always a good idea to compare rates before renewing to make sure you're getting the best deal.
You can use an online comparison tool like Gabi to get personalized car insurance rates from dozens of insurers in just a few minutes.