Buying homeowners insurance is part of the homebuying process, meaning most homebuyers rush into the purchase in order to move things along with the sale of the home, potentially paying more for coverage or not getting enough.

Why Switch Homeowners Insurance?

Homeowners should shop around to ensure they are getting the best coverage for their rate. The driving factor for most is usually one of four reasons:

  1. Switching to the insurance carrier you have your car insurance with may get you a multi-policy discount. If your homeowner’s insurance carrier also offers car insurance, you may get a multi-policy discount through them, so compare both switch options to ensure you end up with the best rate.
  2. Different carriers base their rates on different factors, so switching may save you more money even if your current carrier offers a loyalty or multi-policy discount.
  3. Customer Service. Poor customer service is the leading cause of lost business outside of price points for insurance companies. Policy holders who have a difficult time getting a hold of an agent or a bad experience dealing with one are more likely to switch carriers, regardless of price or savings.
  4. If your current carrier does not provide certain coverage that is of a concern to you or your current carrier has made some restrictive changes to your currently policy, shopping around helps to ensure you get the best policy.

When to Switch Homeowners Insurance

If any of the above reasons apply to you, contact one of our independent insurance agents. We have access to dozens of carriers with discounted pricing but don’t have a contracted allegiance with any in particular or extra make commission with a particular carrier—so we don’t make recommendations on what will benefit us the most but rather what will benefit you the most.

You can change your homeowner’s policy at any time. Most often, people make changes in their carrier towards the end of the year or right at the beginning when insurance carriers send out revised and updated policy details. When homeowners are reminded of their policy and see in writing the coverage they have, they commonly begin competitive shopping. Save yourself the work and give us a call!

Switching home insurance carriers should also be considered anytime you are buying a home. Rates and coverages can vary from carrier to carrier, but it also varies because of the home’s details—where it is located, its risk for damage following a storm, its age, etc.  Other major events such as major renovations should lead you to reviewing your homeowner’s insurance options. Some renovations or additions may increase your property’s value (or increase its risk, like a pool) and consequently require more coverage or a change in your rate.