Why This Date Matters More Than You Think
Your motor insurance might be billed monthly, but it has an annual milestone: the Anniversary Date. It’s usually 12 months after your Cover Start Date, and it’s more than just a marker on the calendar. It’s when we take a closer look at your policy, your vehicle’s value, and your premium.
The Significance of the Anniversary Date
It marks the annual renewal cycle of your policy.
As long as your monthly premiums are paid on time, your cover continues seamlessly.
On this date, we will review your vehicle’s Insured Value and adjust your premium if necessary.
Annual Premium Adjustments — Staying in Sync With Value
On your Anniversary Date, Pineapple estimates your car’s current Insured Value, especially important if it’s insured at Retail Value.
Why?
Because vehicles naturally depreciate over time due to age, mileage, and general wear.
Based on this updated value, we adjust the relevant portion of your premium.
Purpose:
Keeps your premium aligned with the actual cover value.
Prevents overpaying for a car that’s worth less than before.
Avoids being underinsured if value changes (rare for standard depreciating vehicles).
You might see a small increase or decrease in your monthly premium, it’s completely normal.
Your Responsibility — Review Your Cover Too
Even though we do the valuation, you should still:
Make sure the Compensation Limit matches your car’s current replacement value.
Check your policy still suits your needs—especially if you’ve added non-standard accessories or made modifications.
After a Claim — What Can Change
While your Compensation Limit stays the same immediately after a claim:
Your premium might increase, either at the Anniversary Date or from the date of loss.
Your terms and conditions could also change following a claim.
Bottom line: The Anniversary Date is your annual opportunity to make sure your cover and premium match reality. Staying on top of it means you’re always insured for the right value, at a fair cost.
*The information provided here is for informational purposes only. For the full terms and conditions, please consult your policy wording.