How Often Can I Change My Homeowners Insurance?

  1. 180 POINTS
    Neil H. Greco
    Agency Principal, Neil H. Greco LLC, New Jersey
    You can change your insurance as frequently as you like. However, some companies reward customers with discounts for staying with their previous company for an extended period of time. So if you plan on switching every year to try to save money in the short term, just keep in mind that you may be able to save more in the long term by staying with a company for a little bit longer, and then shopping around. Thanks for asking!
    Answered on June 5, 2014
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  2. 1844 POINTS
    David W. Clausen
    Chief Executive Officer, Coastal Homeowners Insurance Solutions, Rocky Point, NY 11778
    As often as you like if you are referring to the actual policy. If you are referring to the writing company, you are free to search the market every year. Normally you will see homeowners insurance policies creep up every year. This is because most policies have an inflation guard built into the policy. It is designed to cover the increased cost of construction over time. Typically it is about 3%-6%. It can become a hassle to switch your homeowners insurance on a yearly basis because the company will come out and perform an inspection and can cancel the policy if they see something they don't like. Also, eventually you will run out of companies to switch from/to. I would look to your independent insurance agent for the best advice.
    Answered on September 10, 2015
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