How to Switch Home Insurance Companies

You can change your home insurance anytime. However, follow some key steps to ensure you purchase adequate coverage, avoid coverage lapses and don't end up paying for two policies at once.

MoneyGeek breaks down how to switch home insurance companies — even in the middle of your policy term:

• Step 1: Review your existing policy
• Step 2: Decide if switching is the right move
• Step 3: Gather information for quotes
• Step 4: Compare providers
• Step 5: Secure the policy you need
• Step 6: Cancel your old policy
• Step 7: Notify your lender about the change

Knowing your policy details, like limits and deductibles, helps you make informed decisions when changing providers. Taking time to review your policy prevents purchasing a plan with unnecessary or missing coverage. 

Key details to know before searching for a new provider include:

• Coverage limits
• Deductible
• Inclusions
• Exclusions
• Expiration date

If you have a mortgage, your lender may require specific insurance coverage, such as protection against earthquakes or floods, that your new policy must meet.

Although changing your homeowners insurance may appear straightforward, hasty decisions can lead to higher costs over time. Big savings or better offers can be tempting, but weigh the potential long-term implications of such a change to ensure you don't incur unexpected out-of-pocket expenses or even higher premiums. 

View the table below to see MoneyGeek’s picks for the best home insurance companies for different buyer categories.

You'll need quotes from several home insurance providers to find your best option. Before requesting these, gather all necessary information. Companies typically need details about you, your home and your household to give accurate quotes.

Not all insurance companies will require all this information, but it’s better to have it ready if needed.

Once you have your information ready, compare homeowners insurance quotes. No matter how attractive the rates may be, don’t settle for the first carrier you find — getting home insurance quotes from three or four companies is ideal.

You can shop online and use an online comparison tool to save time and look at sample rates from multiple insurers simultaneously.

The table below shows how the average cost of home insurance changes by company and coverage level.

Before switching insurers, check if your current insurer charges cancellation fees or offers a prorated refund for unused premiums. If a penalty applies, ensure your new policy is worth the switch.

When finalizing your new coverage:

• Review your coverages. Consider any additional protection you may need, such as flood or earthquake insurance.
• Look for bundling discounts. Combining your home and auto policies could lead to significant savings.
• Activate your new policy first. Always pay for your new policy before canceling the old one to avoid a coverage gap.

Before canceling your current homeowners insurance, notify your provider in advance. If your policy auto-renews, confirm the cancellation date and ask if you need to provide written notice. Get the correct contact information and include all necessary details to avoid delays or extra charges.

You can switch insurance anytime, but don't cancel your current policy before the new one takes effect. This prevents coverage gaps and paying for overlapping policies. For homeowners with a mortgage, a coverage lapse could violate your loan agreement and put your home at risk.

Your mortgage typically requires up-to-date home insurance. Call your lender and tell them you've changed insurance companies.

Send them documentation that includes:

• Your mortgage loan number
• Names and addresses of your present and new insurance companies
• Your old and new policy numbers
• Payment receipt from your new insurance company
• Copy of your previous policy’s cancellation notice

Changing home insurance companies is within your rights as a homeowner. Switching providers can give you more control over your insurance, and you can do it anytime.

Here are some of the most common reasons homeowners consider changing home insurance providers:

Homeowners often decide to change homeowners insurance companies because they want lower rates. Providers set premiums based on several factors that may change over time.

Certain events, such as filing a claim, can cause your current provider to increase rates. Some carriers also offer special discounts to homeowners who switch, as an incentive to change home insurance companies.

Reassess your coverage needs when your life circumstances change. If you're getting married, you may want to increase your limits to cover new valuables received. Having your home renovated may also cause your premium to change.

Different insurance companies offer varying types of coverage. One example is protection against perils such as earthquakes or floods.

When your needs change, you may find another provider that offers a better deal.

You might want to find a different provider if you've had a negative claims experience with your current insurer.

Filing a claim is stressful, especially after significant damage to your home or belongings. A good insurance company offers more than low rates — it helps reduce stress through efficient claims processing. Homeowners often switch to companies with better customer satisfaction and financial stability to make future claims more manageable.

Some people consider changing home insurance to purchase a new policy from the same company that provides coverage for their car to save money. Home and auto insurance bundles can score the average consumer 17% lower policy rates.

Additional discounts can also be a compelling reason to switch policy providers. Insurance companies offer different discounts — knowing which are available from several providers can help you find more cost-effective coverage.

Learning how to switch home insurance companies can help you save money, improve your coverage or get better customer service. You don’t have to wait until your policy expires — switching can be done anytime with the right steps. Avoid coverage gaps by securing your new policy before canceling the old one, and choose a provider that better fits your needs.

Homeowners considering changing insurance companies often have questions about the process. Here are answers to help make switching providers easier.

We analyzed quotes from multiple insurance providers across the U.S. using a profile of an average homeowner. By examining different locations and companies, we provide reliable estimates of what homeowners typically pay, showing why comparing rates matters.

Homeowner Profile

For our analysis, we created a sample homeowner profile with the following characteristics:

• Good credit score (769 to –792)
• Home constructed in 2000
• Wood-frame construction
• Composite shingle roof

Homeowners Insurance Coverage Details

Unless otherwise specified, we used the following coverage limits to collect quotes for our comparison:

• $250,000 in dwelling coverage
• $125,000 in personal property coverage
• $200,000 in personal liability coverage
• $1,000 deductible

We also compiled data for policies with broader coverage to determine the best companies for insuring expensive homes, upping limits to $1 million in dwelling coverage, $500,000 in personal property coverage and $1 million in liability coverage.