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Policy Status

Learn about Sola's Policy Status

Updated over 2 months ago

Overview

Policies can have four different statuses:

  1. Active

  2. Expiring

  3. Expired

  4. Cancelled

Below is what each status means in more detail:

Active

  • This means the policy is currently active, with no payment issues and no risk of losing coverage.

Expiring

  • Expiring policies are still covered, but are at risk of losing coverage. A policy becomes expired when the policyholder fails to meet their renewal or monthly payment deadline.

  • Once a policy enters this status, the policyholder has one month to make the required payment before the policy loses coverage and is marked as expired or canceled.

Expired

  • Policies are marked as expired when they reach their natural end. There are two reasons this can happen:
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    • The policy is marked as Non-Renew, meaning the policyholder chooses not to renew but keeps their current coverage active until the end of the term.
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    • The policyholder renews their policy, in which case the previous policy expires and the new policy becomes active.

Canceled

  • Policies are marked as canceled for two reasons:
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    • The policyholder requests to cancel their policy.
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    • A policy set to Manual Renewal or Auto Renewal fails to renew and remains unresolved during its expiration period.

ℹ️ To cancel or mark a policy for non-renewal, contact Sola’s team via our chatbox or reach out directly to your Sola representative.

Learn more about renewals.

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