Which renewability provision guarantees the insured both the right to continue coverage and a premium rate that cannot be increased?

Why B is correct

A non-cancelable policy gives the insured the unconditional right to continue coverage, and the insurer can neither cancel the coverage nor raise the premium rate. Among the renewability clause types recognized under the Ohio Revised Code framework and tested by the Ohio Department of Insurance, non-cancelable is the only one that locks in both the coverage and the price. Guaranteed renewable locks the coverage but permits class-wide premium increases, conditionally renewable allows refusal on stated conditions, and insurer-option renewal leaves the continuation decision with the insurer.

Why the other options are wrong

• A) Guaranteed renewable guarantees the right to renew but lets the insurer raise premiums for an entire class of policyholders, so the rate is not locked.
• C) Conditionally renewable permits the insurer to decline renewal on conditions stated in the policy, which is weaker protection than a rate lock.
• D) Renewable by the insurer means the insurer decides whether to continue coverage at all; it offers neither guaranteed renewal nor a fixed rate.

Memory hook

Non-cancelable = locked coverage, locked price.