If an insurance policy is to remain in effect, it has to be renewed before its renewal date has passed. The renewal date is essentially a cut-off: if the contract is not renewed by the renewal date, it will expire and the insured will cease to have insurance coverage.
Renewal dates are typically scheduled on an annual basis. This means that most policies must be renewed at the one-year mark. This, however, is not the case for every policy, nor is it set in stone for policies that are usually renewed annually. Instead, policies can be renewed on a quarterly or bi-annual basis.
In many cases, no action is required of the insured if they wish to simply continue their coverage. Renewal will be automatic unless they choose to withdraw their policy.
Renewal dates are also when insurers can make certain changes, such as modifying the premium. If they do, however, they must notify the policyholder at least 30 days in advance of the renewal date.