As long as you follow the proper procedure, you are free to switch your homeowners insurance whenever you wish. Even if your insurance is a condition of your mortgage, the choice of insurance company remains with you. The important thing is to avoid a lapse in coverage by having the new policy in place before the other one comes to an end.
Most insurance companies require you give them a minimum notice of one billing period when you plan to change insurer. Some companies will accept as little as 14 days, while others expect to have 30 days notice or more. This advance notice works in your favor as well, eliminating the hassle of being billed for coverage after you have already made plans to switch policies.
Once you have determined the day you want to the change to go into effect, write to your insurance company and inform them of the day on which you want your current policy to terminate. Canceling a policy will not affect any claims that
have already been filed, so you do not have to wait for them to be settled before you make the change.
Shopping online will usually help you find the best rates available on home insurance. When you shop with an independent agent or broker, which is what this website is, you will receive a free online home insurance quote from the best offer along with comparison quotes from other leading competitors. Compared to buying from a company which only offers policies from a single insurer, using a comparison site can help you find the lowest price for comparable coverage.
When you fill out the application for your new policy, set the start date as one or two days before the old policy will terminate. This gives you a brief window to make any corrections or adjustments to your plans, avoiding the potential for a lapse due to unforeseen complications. In the event that you have to file a claim during this overlapping period, file against the new policy.
answered Jul 9 by anonymous