Definition, Meaning & Synonyms
renewal-quote
noun
/rɪˈnjuːəl kwəʊt/
Definition
A renewal quote is an estimate provided by a service provider, typically for insurance, that details the terms and costs associated with renewing a policy.
Examples
- Before your auto insurance lapses, make sure to review your renewal quote to understand your new premium.
- I received a renewal quote from my health insurance provider that reflected an increase due to age adjustments.
Meaning
In the context of insurance, a renewal quote outlines the premiums, coverage, and any changes in terms for the upcoming policy period.
Synonyms
- policy renewal estimate
- insurance renewal quote
- premium renewal notice
