4 reasons to consider switching home insurance companies

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Why stick with a cover you’re not happy with when you can do better?

Key points

  • Home insurance can be a significant expense.
  • If you’re unhappy with your insurer for any reason, it might be worth making a change.

Home insurance can be read like another bill that you are required to pay. But actually, it’s a very important thing to have.

Without home insurance, you could face incalculable costs in the event of serious property damage. Or, you could risk having to shell out a lot of money if someone gets hurt on your property and decides to file a lawsuit against you. Also, having home insurance is a prerequisite for getting a mortgage, so if you’re looking to finance a home, you’ll need to have coverage in place.

But the home insurance company you start with is not the company you have to commit to for life. It is more than possible to change insurers over time, and if these situations apply to you, this is a route to consider.

1. Your premiums keep going up

Home insurance premiums are not locked in for life in the same way that you can lock in a mortgage rate. On the contrary, your premiums may increase over time, especially if you continue to submit claims under your policy.

Even though you don’t submit a lot of claims, if too many other homeowners file claims with your insurance company, that company might make the decision to raise their rates across the board. But if your premium rates continue to rise, it might be time to explore other options.

2. Your deductibles are too high

As a general rule, the higher your home insurance deductibles, the lower your premiums are likely to be. But your insurance company may have a minimum deductible they offer that is even higher than what you would like it to be. If so, you should research other companies and see what their franchises look like.

3. Customer service isn’t great

Often, homeowners need to contact their home insurance companies when they are most vulnerable, such as when damage has been done to their home and they need to navigate the next steps.

It is important to have a home insurance company that is easy to contact. When damage occurs, you’ll want a claims adjuster to come to your home and quickly assess the situation. If your home insurance company is subjecting you to long wait times, it might be time to find a company that provides a better customer service experience overall.

4. Your insurer won’t offer you a bundled discount

It’s common for insurance companies to offer a discount for buying more than one type of insurance, such as home insurance and car insurance. But if your insurer doesn’t offer this benefit, it might be a good idea to see if there’s a company that does. is willing to give you a discount for bundling your policies.

Home insurance is a big expense, so it’s important to find a company that works for you. If not, you shouldn’t hesitate to seek a better deal from a new insurance company, one that better meets your needs, or one that offers coverage at a more affordable price.

Choosing the right home insurance to protect you

No matter where you live, insuring your home is essential to protecting your finances in the event of an unforeseen incident. Whether it’s a natural disaster, accident, burglary, or something that causes damage to your property, you want to know that you have the right home insurance coverage for your situation.

Kristan F. Talley