If you set the expiry or extension date in the online questionnaire for January 1st, there are two advantages: 1. The invoice for the insurance premium corresponds to the financial year (if your financial year = calendar year). This means that you have no accrual problems in accounting (especially with corporations). 2. If you start the professional indemnity insurance contract in the current year, you initially only pay a pro-rated initial premium, from the desired start of insurance until January 1st of the following year. This can be particularly beneficial for entrepreneurs and start-ups.