Renewal Review Quiz

When should you ideally set the expectation with a client that their renewal is coming up?

• One week before renewal

• The month prior to renewal

• Two days before renewal

• Right after the renewal payment is processed

What should be confirmed during the Renewal Review?

• Only the address

• Address, drivers, vehicles, and coverage selections

• Only the policy number

• Only the vehicle registration

True or False: The renewal reminder in LQ Customer Profile appears 30 days in advance of the renewal date.

• True

• False

Which of the following is NOT part of the Renewal Review?

• Offering to requote the policy if necessary

• Checking for additional discounts the client qualifies for

• Reviewing the client’s payment history

• Verifying drivers' license statuses

What language should you use when setting the expectation for a Renewal Review the month before?

• “Mr. Customer, your renewal payment is coming soon, and we’ll review your policy when you come in next.”

• “Mr. Customer, I see your next payment is your renewal payment. We’ll go over your renewal offer and make sure you are getting the best value.”

• “Mr. Customer, please call us when your renewal date arrives.”

• “Mr. Customer, I’ll call you when your renewal is up.”

What should you do if the Named Insured is not the one making the payment?

• Wait until the Named Insured comes in to handle the renewal.

• Process the payment without a review.

• Inform the payer that the Named Insured should come in or call for a Renewal Review.

• Automatically process the renewal without further steps.

When reviewing the client’s vehicles during the Renewal Review, what should you confirm?

• Only the vehicle make and model

• That the vehicles are currently covered, and whether any modifications exist (e.g., lift kits, custom equipment)

• Whether the vehicle is eligible for a lower premium

• The vehicle's insurance history with other companies

True or False: If the customer’s renewal includes a partial premium for the next term, the renewal review should happen when the full renewal payment is made the following month.

• True

• False

When conducting a Renewal Review, which of the following is NOT a key step to take?

• Double-checking for available discounts like autopay or Surepay

• Verifying the client's address, drivers, vehicles, and coverage selections

• Giving the client the option to leave and not review their policy

• Reviewing the features and benefits of ABS or AALL coverage

What should you do after processing a renewal payment?

• Only print a new ID card.

• Print new ID cards and a new billing schedule.

• Call the client to confirm the renewal payment.

• Nothing, as the renewal process is complete.