Should I stick with my house insurance carrier or switch?


Most people don't give a second considered their house insurance until you're ready to file claims or renew the policy. When the time comes to renew, you might find yourself faced with the following dilemma: should I stick with my current home insurance provider or must i shop around in order to secure a much better rate?

The truth is: there are pros to both of these options. Before you decide, compare the next benefits of continuing with your current property insurance company with those of requoting.

Benefits of renewing together with your current home insurance provider

Contrary to popular belief, shopping around for insurance isn't the best way to ensure that you obtain the best rate in your home insurance. Renewing together with your existing insurance provider has its perks, too.

  • Loyalty discount: If you've been with the same home insurance provider for several years, there's a pretty good possibility you may be getting a loyalty discount on your premiums. Sometimes, these loyalty discounts make renewing more enticing than requoting.
  • Bundling discount: For those who have your auto insurance bundled with the same provider as the home insurance, you may be receiving a decent discount. If you decide to bring your home insurance elsewhere, however, that discount will appear reduced. So think twice before leaving your current home insurance provider if you're enjoying that bundling discount. It might be worth sticking around for.
  • Coverage and claims experience: Depending on your home insurance coverage and previous experience filing a claim, you might feel it'd be silly to switch. If your insurance carrier offers extensive coverage for a reasonable rate, and your past claims were approved without hassle, then that might be all of the reason you need to renew.

Benefits of looking around for any new house insurance quote

While renewing your home insurance plan with the same provider could be a great option, additionally, it is effective compare home insurance plans and rates each year.

  • Potentially better rates: Probably the most obvious benefits of shopping around is you might find a significantly cheaper rate elsewhere. We partner with more than 75 providers, meaning you'll have plenty of choice if you choose to compare property insurance rates. You could save as much as 30% simply by entering your property details and personal information together with your coverage requirements.
  • More coverage options: If you are remodelling your bedroom, starting a home-based business, or renting out some of your home to some tenant, it might lead to a sharp increase in your insurance costs. Rather than taking the price increase you're dealt, you can always hunt for better rates online that provide coverage for that changes you make to your home or even the way you use it.
  • Zero commitment: One of the best parts about comparing home insurance rates on the internet is that you're not necessary to register with the provider offering the lowest rate. It's entirely up to you if you wish to proceed with speaking to an agent. But you'll be armed with the data of what you will get at what price somewhere else.

If you are always on the fence about whether to stay or go, here are some pointers to make the decision-making process easier:

  1. Contact your home insurance provider for any requote a minimum of 8 weeks just before your policy renewal.
  2. If all negotiations fall finished your present insurance company, begin looking around for better deals online utilizing a rate comparison website like ours.

Compare rates and coverages supplied by other home insurance providers with any discounts you might currently be getting together with your current home insurance provider.