How to Change Homeowners Insurance: A Step-by-Step Guide

Switching homeowners insurance might sound like a hassle, but it’s often easier—and more beneficial—than you think. Whether you’re looking for a better rate, improved coverage, or simply reassessing your current policy, understanding the process can help you make a smooth transition.

From comparing quotes to canceling your existing plan the right way, taking a few simple steps can ensure your home stays protected without interruption. Let’s explore how to change homeowners insurance step by step.

Key Takeaways

• Many people change homeowners insurance to find a plan or provider that fits their needs or to secure better rates.
• To switch homeowners insurance policies, review your existing coverage, evaluate your coverage requirements, compare home insurance quotes, secure the new policy, inform your mortgage lender (if applicable), and cancel your old policy.
• After canceling your previous homeowners insurance, you may need to request a refund for your remaining premium amount.
• Homeowners can find affordable homeowners insurance policies through GEICO Insurance Agency.

Switching Your Home Insurance: A Guide

Changing homeowners insurance providers can help you find better coverage, improved customer service, or more competitive rates—but it’s important to make the change carefully to avoid gaps in protection. This step-by-step guide walks you through how to review your current policy, compare quotes, and transition smoothly to a new insurer while keeping your home continuously covered.

1. Review Your Existing Policy and Coverage

Start by locating your homeowners insurance declarations page, often called the “dec page.” This document outlines the most important details about your current policy, including:

• Dwelling coverage limits
• Personal property coverage amounts
• Deductible
• Policy expiration date

Having this information on hand will make it much easier to compare future policies. It also ensures that when you review new options, you’re matching coverage levels accurately rather than just focusing on price.

2. Evaluate Your Current Coverage Requirements

Before choosing a new policy, take a moment to assess whether your existing coverage still fits your needs. Focus on your home’s replacement cost, which represents what it would take to rebuild the home, not its current market value.

Factor in any renovations, home additions, or upgrades that might require higher coverage. You should also make note of any new valuable items, such as jewelry, collectibles, or artwork, that may need separate endorsements. This step helps make sure your next policy fully protects your investment.

3. Compare Home Insurance Quotes

Once you’ve gathered your details, it’s time to evaluate at least three different home insurance quotes.

Pay attention to more than just the premium amount. Review each policy’s deductible, the type of claims coverage offered—such as Replacement Cost versus Actual Cash Value—and any discounts you might qualify for, like bundling auto and home coverage. Comparing all these factors gives you a clearer picture of overall value and protection.

4. Secure the New Policy and Coordinate Dates

After you’ve chosen the right policy, make sure your coverage transition goes smoothly. Purchase the new policy and confirm it becomes effective before canceling your old one to avoid a lapse in coverage. Double-check the start date, provide any required documentation, and confirm that all application steps are completed.

5. Officially Inform Your Mortgage Lender

If your home is financed, your mortgage lender must be informed of the change in insurance coverage. Contact your lender or loan servicer right away and provide them with the new policy’s Declarations Page and the new insurance company’s contact details.

If you pay your premiums through an escrow account, your lender will typically handle the payment transfer to the new insurer. Keeping them updated prevents any delays or issues with your loan terms.

6. Cancel Your Old Policy and Request a Refund

Once your new policy is active, reach out to your former insurance company to formally cancel the old one. Ask for written confirmation of the cancellation to keep for your records. If you paid your premiums in advance, you may be eligible for a prorated refund for any unused time on the policy.

Why Consider Switching Homeowners Insurance?

There are plenty of good reasons to explore new homeowners insurance options. Many homeowners start shopping around after noticing rising renewal rates, while others realize that major home renovations or upgrades mean their coverage no longer fits their needs.

Some people are simply looking for better customer service or a policy that offers more protection for their home and belongings. Whatever the reason, switching homeowners insurance is a normal and often financially smart move that can lead to better coverage and savings in the long run.

Simplify Your Switch Through GEICO Insurance Agency

Switching homeowners insurance doesn’t have to be complicated. With a little preparation and the right information, you can make a confident change that better fits your home, budget, and lifestyle. Reviewing your current coverage, comparing quotes, and coordinating the transition carefully ensures your home stays protected at every step.

If you’re ready to explore your options, get a free homeowners insurance quote through GEICO Insurance Agency today. It only takes a few minutes to find coverage that fits your needs and helps protect what matters most.