Best Time to Shop for Home Insurance — When and How to Switch
Most homeowners set up their insurance at closing and never look at it again. That inertia costs the average homeowner $300–$800 per year in overpayment. Insurers adjust their pricing annually, and the company that was cheapest when you bought your home may not be cheapest today. Shopping every 2–3 years is the single best way to keep your premium in check.
Get a baseline estimate for your home with the Homeowners Insurance Calculator.
When to Shop: The Best Triggers
| Trigger | Why It Matters |
|---|---|
| 45–60 days before renewal | Enough time to compare quotes and switch seamlessly |
| After a rate increase of 10%+ | Your insurer may no longer be competitive |
| After paying off your mortgage | You're no longer required to meet lender coverage minimums |
| After a major home improvement | New roof, updated electrical/plumbing can unlock discounts |
| After your credit score improves | 50+ point jump can reduce rates significantly |
| After a claim ages off (3–5 years) | Your CLUE report looks better to new insurers |
| After a life event | Marriage, retirement, installation of security system |
How to Switch Without a Gap in Coverage
Switching homeowners insurance is straightforward if you follow these steps:
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Start shopping 45–60 days before your renewal date. This gives you time to compare without rushing.
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Get at least 3–5 quotes. Use a mix of direct carriers, national brands, and an independent agent. Give every insurer identical coverage details for a fair comparison.
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Compare the same coverage levels. A cheaper quote often means less coverage. Match dwelling amount, deductible, liability limits, and endorsements.
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Set the new policy start date to your renewal date. This creates zero gap. Your old policy expires on the same day your new one begins.
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Notify your old insurer. Most policies auto-renew, so you need to explicitly cancel. If your mortgage company pays via escrow, notify them too so they send payment to the right insurer.
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Get proof of insurance to your lender. Your mortgage company needs the new policy declarations page before your old policy expires.
What to Compare Beyond Price
| Factor | What to Check |
|---|---|
| Coverage limits | Same dwelling, personal property, liability |
| Deductible | Same dollar amount or percentage |
| Replacement cost vs ACV | Always choose replacement cost |
| Endorsements | Water backup, jewelry, home business |
| Claims handling reputation | J.D. Power ratings, AM Best financial strength |
| Discount stacking | Bundle, claims-free, smart home, new roof |
A policy that's $200 cheaper but has actual cash value (ACV) instead of replacement cost on contents could cost you thousands at claim time. Always compare apples to apples.
The Annual Review Checklist
Even if you don't switch, review your policy at every renewal:
- Has your home value changed? Rebuilding costs increase with inflation. Make sure Coverage A reflects current construction costs, not your original purchase price.
- Have you added improvements? A finished basement, new deck, or major renovation may need additional coverage.
- Have you acquired valuables? Jewelry, art, or electronics above your policy's sub-limits need a scheduled personal property endorsement.
- Are you still using all endorsements? If you sold a boat or no longer have a trampoline, remove the related riders.
- Has your life changed? Retirement, working from home, or a child leaving for college can trigger discounts.
Timing Around Catastrophic Events
After major weather events (hurricanes, wildfires, hailstorms), insurers in affected regions often restrict new policies or raise rates across the board. If you live in a disaster-prone area:
- Before storm season: Shop 2–3 months before your region's peak risk period (June for hurricanes, spring for tornadoes)
- Avoid switching right after a disaster: Fewer insurers are writing new policies, reducing your options and leverage
For a comprehensive list of premium-cutting strategies, see How to Lower Homeowners Insurance Premiums. For understanding claim risks, read How Home Claims Affect Your Premiums. And for state-by-state rate data to benchmark your quote, check Average Home Insurance Cost by State 2026.
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