A Guide for How to Switch Home Insurance Companies
Most homeowners think they need to wait for their home insurance policies to expire before transferring to another provider, but you can switch at any time. MoneyGeek can walk you through the relatively simple process.
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By Mark Fitzpatrick
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Head of Insurance, MoneyGeek
Mark Fitzpatrick is a Licensed Property and Casualty Insurance Producer and MoneyGeek's Head of Insurance. He has analyzed the insurance market for over five years, conducting original research and creating personalized content for every kind of buyer. He has been quoted in several insurance-related publications, including [CNBC](https://www.cnbc.com/2020/04/15/cant-keep-up-with-insurance-premiums-heres-what-to-do.html), [NBC News](https://www.nbcnews.com/business/autos/flooded-cars-are-problem-their-owners-future-car-buyers-n1278493) and [Mashable](https://mashable.com/article/tesla-insurance-rates). Fitzpatrick earned a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He is passionate about using his knowledge of economics and insurance to bring transparency around financial topics and help others feel confident in their money moves.
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Edited by Victoria Copans
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Victoria Copans is a professional writer, editor and translator. She previously worked as the managing editor for online events industry publication XLIVE. As a self-described budgeting nerd, she was drawn to the personal finance space to help share important and useful information that people may not otherwise have access to. In her free time, she loves to travel, learn languages and explore the beautiful nature in her home of Vermont.
MF
By Mark Fitzpatrick
MF
Head of Insurance, MoneyGeek
Mark Fitzpatrick is a Licensed Property and Casualty Insurance Producer and MoneyGeek's Head of Insurance. He has analyzed the insurance market for over five years, conducting original research and creating personalized content for every kind of buyer. He has been quoted in several insurance-related publications, including [CNBC](https://www.cnbc.com/2020/04/15/cant-keep-up-with-insurance-premiums-heres-what-to-do.html), [NBC News](https://www.nbcnews.com/business/autos/flooded-cars-are-problem-their-owners-future-car-buyers-n1278493) and [Mashable](https://mashable.com/article/tesla-insurance-rates). Fitzpatrick earned a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He is passionate about using his knowledge of economics and insurance to bring transparency around financial topics and help others feel confident in their money moves.
VC
Edited by Victoria Copans
VC
Victoria Copans is a professional writer, editor and translator. She previously worked as the managing editor for online events industry publication XLIVE. As a self-described budgeting nerd, she was drawn to the personal finance space to help share important and useful information that people may not otherwise have access to. In her free time, she loves to travel, learn languages and explore the beautiful nature in her home of Vermont.
Updated: May 22, 2024
Advertising & Editorial Disclosure
Switching home insurance providers is entirely possible for any homeowner, whether it’s to get discounts, lower rates or change coverage amounts. Even if you’re simply dissatisfied with your current carrier, you don’t have to wait for your policy to expire before finding a new one.
Changing home insurance allows you to have better control over your coverage and maximize the benefits offered by another provider. To make the process easier, MoneyGeek outlined how to switch home insurance companies so you can avoid some common pitfalls and find a provider that meets your needs.
You can change home insurance companies at any time — no need to wait for your current policy to expire.
Timing is crucial when switching providers, as you might miss out on better deals or discount programs, have a coverage gap or pay for two policies simultaneously.
If you have a mortgage, you must inform your lender once you’ve paid for your new policy and canceled your original one.
You can change your home insurance at any time. However, be sure to follow some key steps to ensure you purchase adequate coverage, avoid lapses in coverage 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.
Knowing the details of your policy, such as your limits or deductibles, can help you make an informed decision when changing your provider. It may take a bit of time and effort to comb through your policy, but skipping this step could result in you purchasing an insurance plan with unnecessary or missing coverage. Some key details to be aware of before you begin your search for a new provider are:
If you have an ongoing mortgage loan, your lender may have requirements for insurance coverage that your new policy must meet, such as special coverage for earthquakes or floods.
Although the process of 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 remember to weigh the potential long-term implications of such a change to ensure you don't end up with unexpected out-of-pocket expenses or even higher premiums. Here are some common reasons for considering a switch in home insurance, along with important considerations for each:
View the table below to see MoneyGeek’s picks for the best home insurance companies for different buyer categories.
