Depends on the company. I'm with TDMM and because of the weird way they do their policies (first time it's for the remainder of the year until February, then it always renews in February), my renewal for a "second" year riding, I was still considered a new rider with <1 year experience. So I called them up in May, a year after I got my licence, and they removed and re-added me to the policy, which then detected than I have >1 year experience, resulting in a nice refund of excess premiums.