What is a contract prolongation?

Almost all service industries have a contract that is concluded between two or more entities for a certain period of time. When the contract comes to an end, the parties have to decide whether to extend it. Today, we're going to talk about the extension of an insurance contract.

What is an insurance contract extension?

Prolongation is the extension of an existing agreement for a certain additional period.

Prolongation of an insurance contract is the extension of an insurance contract (policy) on the same terms and conditions for the next period. For example, a car insurance policy is extended at the request of a person for a period of 1 year.

Types of contract prolongation

Any agreement that needs to be renewed can be renewed in two ways:

  • Automatically

  • Not automatically (upon new request)

Auto-renewal is the automatic renewal of a contract without any significant changes, which usually occurs according to the terms of the contract (if it is stipulated that the contract is valid until terminated by either party) or through software without human intervention.

How to prolong the insurance policy in KIRINS?

Most insurance products are automated and do not require manager intervention to renew the policy. It is enough to take a few steps:

  1. Log in to the website

  2. Choose the insurance product you need

  3. Calculate the cost

  4. Fill in the data from the reference books (previously issued insurance)

  5. Receive a ready-made policy to your email

If you want to extend an insurance product that requires the participation of our manager, please contact us in any way possible and we will quickly help you.