home insurance company

How to Switch Your Home Insurance Company

November 11, 2021

Are you thinking about changing your home insurance company, but have no idea how the switching process works? If that is indeed the case, then there is no need to fret, as changing your homeowners insurance company is not a big deal. In this guide, you’ll learn the best tips for switching to a new home insurance company that offers the coverage you need at lower rates.

So let’s get down to it.

Steps for Changing Your Home Insurance Company

1.      Conduct Research

Comparing your current policy with others will help you decide whether you’re making the right decision or not. While going through the policy details, make sure you check their reviews online, coverage amounts, and premium costs. Furthermore, you need to look into the policy’s exclusions. An exclusion is what isn’t covered in your policy. These can be things like certain dog breeds that are considered high-risk.

Also, you need to compare your current deductibles with those in other policies.

2.      Check Your Calendar

If you’re not planning to renew your current homeowners policy, it’s important to know when it ends. On your policy’s declarations page you can find the effective date, which is the date your policy ends. It would help to mark the date on your calendar or set a reminder. The declarations page provides a summary of your policy and includes critical information such as your deductible and coverage amounts. The best time to shop around for a new policy is 3 months before your effective date. Luckily, there isn’t a specific time you can switch to your new policy.

3.      Evaluate Your Needs

Perhaps your current insurance needs are different from the time you first purchased your homeowners insurance. Therefore, you need to assess the type of coverage that suits your needs. The amount of coverage you need depends on the value of the items in your home and the type of home you have. It’s also important to look into your deductible and figure out how much you’re willing to pay in the event of a claim.

Your home insurance includes these categories:

  • Dwelling coverage
  • Other structures
  • Personal property
  • Loss of use
  • Personal liability
  • Medical payments

You’ll need to make sure you’re properly insured in case of an incident. You may end up needing to add on extra coverage depending on your situation and comfortability with risk.

4.      Get the Quote

Once you evaluate other companies’ coverage options and features, it’s time to contact them and ask for quotes. You can go to their website and fill out an online quote form or give them a call.

5.      Switch to the New Policy

After in-depth analysis and finding the right policy, you can sign with the new insurance company. Once you make the switch, you need to contact your old insurer and have your policy cancelled on your effective date. Your new policy should take effect on the following day.


Whether you’re switching to a new homeowners insurance policy or it’s your first time, policy evaluation is of utmost importance. Shopping around will save you a huge amount of money. Therefore, it would be best to make a list of the best options and compare their policies.