Policy Renewal: What you need to know.
Learn more about biBerk’s policy renewal process and what you can expect.
How do I renew my policy?
We send you a renewal quote. If you choose to renew and are signed up for Autopay, simply let that payment occur automatically. If you don’t use Autopay, you can click the link provided or call us to make a payment. If you choose not to renew, you can contact us to discontinue coverage.
Will my premium change when my policy renews?
Changes to premiums can be necessary for various reasons, including:
If you modify the products or services you offer or your business grows, your premiums may change.
If you file claims or modify your coverage in some way, your premium may change.
Insurance companies’ experience with other businesses like yours (such as a significant industry-wide increase in claims) affects premiums.
Conditions like inflation and others can make premium changes necessary for the continuation of adequate coverage.
How will updates to my policy affect my premium?
How will updates to my policy affect my premium?
Updates to your policy may affect your premium. We'll provide information about changes to your coverage and premium to help you understand the cost and value of your policy.
Will reporting a claim affect my premium?
Policy premiums are determined, in part, by claims history. While reporting a claim won't affect your current rate, it may affect the rate on your renewed policy.
Is an audit required for my policy renewal with biBerk?
Is an audit required for my policy renewal with biBerk?
That depends on the type of insurance. However, compliance with our requests for information or to participate in an audit is required. The obligations to provide information or participate in an audit aren't unique to biBerk. In fact, audits are required by law or state rules for specific policies, regardless of the insurer. Check out our FAQs and audit page for more information.
Other common questions
These common questions and answers about insurance premiums can help you better understand the process. We’re also happy to answer any questions you have.
Insurers typically update their rates each year. In addition, your exposures (payroll, sales, etc.) can change. Plus as noted above, your claims activity could impact the renewal price.
Manual payments are subject to installment fees.
To avoid installment fees and missed payments, we recommend enrolling in Autopay. Enrolling in Autopay saves you time and money, and ensures you have continued coverage through automatic renewals upon successful payment.
If you agree with the renewal quote we provide and you're enrolled in Autopay, your policy will automatically renew at the end of your coverage period, provided your payment is successful. Visit the Autopay login page to enroll in Autopay or update your automatic payment method.
If you're not enrolled in Autopay and your policy is eligible for renewal, you'll receive a billing notice 30-90 days in advance of the new policy’s effective date. You must make the required down payment in advance of the renewal policy’s effective date by clicking the link provided or by calling 1-844-472-0967.
When your original policy was written, the calculated premium (the amount you were charged) was based on estimated payroll exposures and employee classifications that need to be verified after your coverage has expired (or upon cancellation). Your participation in a premium audit is required by state laws and regulations and is a means of reviewing your records and operations to determine the actual risk exposure and make any necessary adjustments to the amount of premium charged.
To review your premium and due date, log into the Make a Payment page.
