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How To Change Homeowners Insurance Companies (Without The Hassle)


Do you let our insurance policies renew without checking to confirm that your homeowners insurance coverage is sufficient or the premium is competitive? Many times it can feel like too much of a hassle or overwhelming to change your home insurance company even though there may be better options that can provide better homeowners insurance coverage and a more competitive premium.  What company do you choose?  How much coverage is right?


The best way to manage your insurance policies is to use a local independent insurance agency like the Overmyer Insurance Agency to compare the rates with multiple insurance companies and provide the best options for you. After you have decided which insurance company offers the most competitive premium and coverage options are the best fit for you, you can start the new policy. Once the new policy is issued and you have received either a copy of the new policy or proof of coverage, you can cancel the prior insurance coverage. Any premium you have paid that has not been used will be sent back to you in the form of a pro-rated refund.


How To Change Homeowners Insurance With Mortgage Escrow Account


If your mortgage company pays your homeowners insurance premium through escrow, you can change your home insurance companies. Here are the steps to take:


  • After you have started the new homeowners insurance policy and received proof of the new home insurance coverage or policy, you can cancel the old policy by notifying the insurance company and requesting the policy be canceled.  


  • Your independent insurance agency can send evidence of coverage or the new policy to your mortgage company to confirm the change.  


  • After the new policy is started and the prior policy is canceled, you may receive a pro-rated refund from the previous homeowners insurance company for any premium that has been paid and not used. 


  • After the pro-rated check is received, you should contact your mortgage company to find out if they would like you to sign the refund check over to them or deposit the check in your account and submit a payment to satisfy the escrow account.


Can You Switch Your Homeowners In The Middle Of The Policy


Yes, you can switch your homeowners policy in the middle of the policy period in most instances. After your new policy is started and you have received proof of coverage, you can cancel the prior insurance coverage for the date the new policy has begun. You will then receive a pro-rated refund for any premium you have paid but not used.


Compare Home Insurance Rates


The easiest way to compare insurance rates is by contacting your local independent insurance agency like the Overmyer Insurance Agency. We can review your coverage to ensure it’s sufficient for your needs and rate your homeowners insurance policy with multiple companies to find the best fit for you.  


Car and Home Insurance Bundles


Combining your auto, homeowners, and optional umbrella policies is best to maximize your discounts, provide better coverage, and lower your overall premiums.


Bottom Line:


When you work with an independent insurance agency like The Overmyer Insurance agency, changing your homeowners insurance policy at renewal or in the middle of the policy period is a relatively simple and friction-free experience. You are much better off having better coverage and a more competitive rate than sticking with the same policy for years.

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