Short answer
Start your insurance renewal for your design firm 60 to 90 days before the policy ends. Gather your declarations pages, your last application, loss runs, revenue by service and any big contracts or new services. Underwriters need time to review your file. A rushed renewal is the one where nobody notices the gap. Whether a policy responds depends on its wording and the facts.
Why 60 to 90 days gives you room
Sixty to ninety days gives underwriters time to review your file and gives you time to compare options. Starting earlier also leaves room to fix problems without a deadline pressing on every decision.
Loss runs are one reason. Carriers need time to produce them, and a new insurer usually asks to see them. Underwriting questions can also come back after the first review. If you start a week before the end date, there may be little time to answer them or to look at other quotes.
Our policy review page shows how we compare coverage before a renewal.
The renewal checklist
A short checklist keeps the process moving. Gather these items before you call your agent:
- Declarations pages for every current policy
- Your last application for each policy
- Loss runs from your current and prior carriers
- Revenue broken out by service
- New services you plan to offer or have already started
- Big contracts, especially those with insurance requirements
- Staff changes, such as new principals, departures or added offices
Most owners can pull this together in a few hours if they start early. Revenue by service matters because it shows how your work is split. Our article on why your professional liability application matters at renewal explains why accurate answers count.
Where to find your declarations page
The declarations page is the summary page of your policy. It lists the insurer, the policy period, the limits, the deductible and the premium. It usually sits at the front of the policy documents.
Check your email for the policy package from the carrier or your agent. Many carriers also post documents in an online portal. If you can’t find it, ask your agent for a copy. This is a quick request, and it is better to make it months before renewal than the week before.
What to tell your agent that changed
Tell your agent about anything that changed since the last renewal. The policy was written from the facts you gave at that time, and new facts may change how it reads.
Common changes include the following:
- New states where you now work
- Design-build projects or a change in your contract role
- Condominium or residential work. Our article on the condo exclusion in professional liability explains why this matters.
- Large projects with higher limit or endorsement requirements
- New services that the policy may not describe
Some of these changes may also affect which type of carrier fits your firm. Our article on admitted versus non-admitted insurance explains the difference. You can also read our professional liability page for the basics.
What we see at Hardcover
On calls in late October, firm owners told us their renewals were in December, April or June and asked us to call back closer to the date. One owner with a December renewal couldn’t locate their declarations pages and said they couldn’t focus on it right now.
That reaction is common, and it is understandable. Owners are busy. A short checklist makes the work smaller, and starting early means a missing document doesn’t become a problem. Our quote page is one place to begin when you are ready.
Questions to ask your agent
- When will the carrier send renewal terms?
- What do you need from me, and by when?
Related questions
When should I start my renewal?
Two to three months before it ends.
What is a declarations page?
It is the summary page of your policy. It shows the insurer, limits, deductible, dates and premium.
What are loss runs?
They are a carrier’s report of your claims history. New insurers usually ask for them.
General education, not legal advice. Hardcover is an insurance agency, not a law firm.