Updated: August 6, 2025
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You can change homeowners insurance at anytime; no need to wait for your current policy to expire.
To switch providers, gather and compare quotes from different insurers, secure a new policy and then cancel your old one. If applicable, inform your mortgage lender about the change.
When switching providers, timing matters. You might miss better deals or discount programs, face a coverage gap or pay for two policies simultaneously.
You can change homeowners insurance at any time, even in the middle of your policy term. However, some insurers may charge a cancellation fee if you end your policy early. Always check your current policy’s terms to understand any penalties or refund options.
Switching homeowners insurance is as simple as buying a new policy and canceling the old one. 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.
Learn how to change homeowners insurance companies, even in the middle of your policy term:
Knowing your policy details, like your 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:
Weigh the pros and cons before making a change. Switching could lower your premiums, improve your coverage or give you access to better customer service, but it might also come with cancellation fees or the loss of loyalty discounts. If your current policy offers sufficient protection at a competitive price, staying with your provider may be the better choice.
You can switch home insurance policies as often as you'd like, but be wary of cancellation fees. It may be best to stay with a provider that offers strong coverage at a fair price, as the cheapest option isn’t always the best and coverage standards can vary by company. Many insurers also reward loyal customers with discounts or other benefits over time.
Shopping around is one of the most effective ways to find the best home insurance company at the best price. Start by collecting all the personal and property details insurers will need for an accurate quote, then request estimates from at least three to four companies. You can shop online and use an online comparison tool to save time and look at sample rates from multiple insurers simultaneously.
Here's what to compare when reviewing homeowners insurance quotes:
Review the dwelling, personal property and liability limits to ensure they’re high enough to cover potential losses. Inadequate limits could leave you paying significant costs out of pocket, so check whether the new policy matches or improves upon your current coverage.
Compare how much you’ll pay before insurance kicks in. A higher deductible usually lowers your premium, but make sure it’s an amount you could comfortably afford after a loss and see if it’s better or worse than your current deductible.
Check which risks are included and what’s excluded, as policies vary between providers. Compare these to your existing policy to ensure you’re not losing essential protections.
See if the policy offers add-ons like flood, earthquake or scheduled personal property coverage. Determine whether these options fill gaps left by your current policy or provide better value.
Ask about discounts for bundling, home security systems or a claims-free history. Compare these to what your current insurer offers to see if switching would yield greater savings.
Research how quickly and fairly the insurer handles claims. Look at reviews and ratings, then weigh them against your own experience with your current provider.
Personal information:
Home information:
Other relevant information:
After reviewing your options, choose the policy that offers the right mix of cost, coverage and service for your needs. This decision often comes down to how much value you’re getting for the price, so it’s worth seeing how different insurers compare at the same coverage level. The table below shows how the average cost of home insurance changes by company and coverage level.
| State Farm | $1,026 |
| Nationwide | $1,236 |
| Farmers | $1,242 |
| Allstate | $1,449 |
| Travelers | $3,674 |
Pay attention to the effective date so your new coverage starts before, or on the same day, your old policy ends to prevent a lapse. Aligning these dates also helps you avoid paying for overlapping coverage, ensuring a smooth and cost-effective transition.
When narrowing down homeowners insurance options, look beyond rates. Consider each policy's billing plan, deductible and effective date. Reading homeowners insurance reviews can also provide valuable insight into what different companies offer.
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:
If you don't maintain insurance coverage, your lender can default on your mortgage, which could lead to home foreclosure. Telling them about your insurance change ensures your records stay updated and protects your loan.
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.
When evaluating insurance companies, consider these key factors to choose a provider that offers the right balance of cost, coverage and service:
Look into the insurance company’s customer service record, including their responsiveness, claim handling efficiency and customer satisfaction ratings.
Choose a company with strong financial health to ensure it can pay out claims, even after disasters.
Check that the insurer offers various flexible coverage options. Make sure its policies can be customized to your needs.
Check how efficiently and fairly the insurer handles claims. A simple, quick claims process can greatly reduce your stress when dealing with a loss.
To lower your premiums, check what discounts the insurer offers, such as for home security systems, bundling policies or maintaining a claims-free record.
Be aware of what isn't covered under the policy. Understanding exclusions will help you avoid surprises when filing a claim.
To ensure long-term satisfaction, examine how the insurance company handles policy renewals, including any changes in premiums or coverage conditions.
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.
There's no universal rule for when to switch home insurance providers. Ensure your timing is right when changing companies to avoid paying for two policies or having a coverage gap, which could affect your mortgage. Learn about any fines and penalties for not finishing your policy term. Review your policy or speak directly with your insurer to determine specific amounts.
There's no standard rule about frequency. Typically, life events — such as getting married or renovating your house — change how much coverage you need. These events might mean it's time to look for a new policy. Shop around for homeowners insurance yearly. Rates can change yearly, so checking competitors annually might help you find lower premiums for similar coverage.
Compare the new policy's features to your current coverage. Look for home insurance providers with lower rates — changing can be a sound decision if they provide the same coverage. Reconsider if a lower rate means losing important features.
Technically, you can switch home insurance companies at any time you like. However, you may have to pay a fee if you cancel your policy before it expires.
Policies vary by provider. Some offer refunds for unused months if you pay annually (minus cancellation fees). If you pay in installments, insurers won't return payments you've already made. Refund eligibility depends on the terms in your policy.
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:
Homeowners Insurance Coverage Details
Unless otherwise specified, we used the following coverage limits to collect quotes for our comparison:
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.
About Mark Fitzpatrick
Mark Fitzpatrick, a Licensed Property and Casualty Insurance Producer, is MoneyGeek's resident Personal Finance Expert. With over five years of experience analyzing the insurance market, he conducts original research and creates tailored content for all types of buyers. His insights have been featured in publications like CNBC, NBC News and Mashable.
Fitzpatrick holds a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He's also a five-time Jeopardy champion!
Passionate about economics and insurance, he aims to promote transparency in financial topics and empower others to make confident money decisions.
