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How to renew a protection policy

Once a protection position has ended, it is normally either closed or claimed, however, you can choose to renew it for a further period of time.

The BUMP tokens which were bonded when you opened your original position will continue to be used for your bond on your renewal position.
Navigate to the dApp and ensure your wallet is connected  
Select ‘BUMPER’ from the tab menu
From the dropdown menu, select the asset you wish to renew and locate the protection position which has recently ended.
If you are able to renew this position, you will see the orange ‘RENEW TERM’ button. Click this to begin the renewal.
In the Renew Protection screen, you will first see your current balance alongside accumulated fees and premiums. 
In the pane below, set a new protection floor and term.
In the bottom pane, you will see the stats for your position. If you’re happy, click ‘NEXT’
Now you need to confirm your protection policy. Read through the details, and when you’re ready to proceed, tick the checkbox and then hit ‘CONFIRM’
Now approve the transaction in your web3 wallet, and then wait for it to be confirmed on the blockchain
Once completed, you’ll see a summary of your renewed position and can set a reminder on your calendar or an expiry alert for when it ends.
How to claim on a protection policy
How to open an earn position
Last modified 5mo ago