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Can I switch my home insurance at any time?
My wife and I became homeowners several months ago. We love our home, but we’ve come to realize that our home insurance doesn’t have all the coverage we need, unfortunately. Can I switch my home insurance at any time? Or do I have to wait for our term to end?
Melanie Mergen · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
It can be a bit unnerving to discover gaps in your insurance policy, but it’s good you became aware of them before any incidents happened. You can switch your homeowners insurance at any time, but you may face penalty fees for canceling your policy early.
Homeowners insurance
policies typically have year-long terms. Some providers charge you an early cancellation fee if you terminate your coverage before the renewal date. If you need to check your policy period dates, you can view them on your policy’s declarations page.Either way, when you’re ready to switch policies, make sure your new policy is in effect before you cancel your old one. You don’t want your home to be without coverage for any period of time—even if nothing happens, you’ll face higher rates for having a
lapse in coverage
.Another important step as you switch your home insurance is to let your mortgage lender know about your insurance change. As you search for a new policy, also remember to check that they meet your mortgage lender’s minimum coverage requirements.
If you’re looking for a way to find an affordable home insurance policy that gives you the coverage you need,
Jerry
can help! After answering a few brief questions, you can start reviewing quotes from top insurance companies like Allstate, State Farm, and Progressive.
Jerry can even help you cancel your old policy or
bundle
your home and car insurance for even more savings.View full answer
- Gregory R.
WHY YOU CAN TRUST JERRY
Jerry partners with more than 50 insurance companies, but our content is independently researched, written, and fact-checked by our team of editors and agents. We aren’t paid for reviews or other content.
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