Why Insurance Shopping Is Surging in 2026
- Adam Overmyer
- 1 day ago
- 5 min read
Over the past year, many homeowners and drivers across the United States have noticed something frustrating when their insurance policies renew — higher premiums.
In response, more people are doing something they may not have done in years: shopping for insurance coverage.
According to a recent industry report highlighted by Insurance Journal, insurance shopping activity continues to increase, with auto insurance shopping rising more than 10% year-over-year and property insurance shopping also climbing steadily. The trend reflects how many consumers are responding to rising insurance costs by comparing policies more frequently.
For many households, reviewing insurance options has become part of managing rising living expenses.
However, while more people are comparing policies, it’s important to understand why this trend is happening and what homeowners and drivers should consider before switching coverage.
Why More People Are Shopping for Insurance
Several factors are driving the increase in insurance shopping activity across the country.
Rising Insurance Premiums
One of the biggest drivers is the continued rise in insurance premiums, particularly for homeowners insurance and auto insurance.
Insurance companies have faced a number of cost pressures in recent years, including:
Higher construction and rebuilding costs
Increased vehicle repair expenses due to advanced technology
Severe weather events are causing property losses
Larger liability claims and litigation costs
Inflation is affecting replacement costs
When policies renew with higher premiums, many consumers begin looking for other options to see if better pricing is available.
Insurance Companies Are Tightening Underwriting
Another reason more homeowners are shopping for insurance is that insurance companies have become more selective about the risks they insure.
In recent years, many carriers have tightened underwriting guidelines due to rising claims costs, severe weather events, and increasing rebuilding costs for homes.
Insurance companies may now look more closely at factors such as:
Roof age
Home age and condition
Prior claims history
Distance to the nearest fire hydrant or fire station
Property features such as pools or trampolines
Because of these stricter guidelines, some homeowners may find that their current insurance company will no longer offer coverage or that the terms of their policy have changed.
When this happens, homeowners often begin shopping for insurance with other carriers that may still be able to offer coverage.
Households Are Looking for Ways to Manage Expenses
For many households, insurance is one of the larger recurring expenses alongside housing, utilities, and transportation.
When premiums increase, it’s natural for people to review their options.
In some cases, consumers are able to find competitive pricing with another insurance company. In other situations, reviewing coverage simply helps confirm that their current policy remains the best option.
Non-Renewals Are Forcing Many Homeowners to Find New Coverage
Another reason more consumers are shopping for insurance is that some homeowners are being non-renewed by their insurance companies.
In recent years, many insurance carriers have tightened underwriting guidelines due to rising claims costs, severe weather events, and increasing replacement costs for homes.
As a result, some homeowners are receiving non-renewal notices, meaning their insurance company has decided not to continue coverage when the policy expires.
When this happens, homeowners must secure coverage with another insurance company before their policy ends.
We have recently seen this trend affect homeowners in New Jersey as well. If you would like to learn more about why this is happening, you can read our article explaining why many homeowners in New Jersey are receiving non-renewal notices.
Because of these changes in the insurance market, many homeowners who previously stayed with the same company for years are now comparing coverage options more frequently.
Life Changes Can Prompt Insurance Shopping
Another common reason homeowners begin shopping for insurance is major life changes that affect their property or financial situation.
For example, homeowners who complete renovations or add new features to their property may want to review their coverage to ensure their home is properly insured.
Common examples include:
Home additions or major renovations
Kitchen or bathroom remodels
Finishing a basement
Adding a pool or outdoor living space
Building a detached garage or structure
Projects like these can increase the replacement cost of a home, meaning the dwelling coverage on a homeowners policy may need to be adjusted.
Similarly, purchasing a new vehicle, adding a driver to a household, or other life events can also lead homeowners and drivers to compare insurance options.
Because of these changes, many people take the opportunity to shop for insurance and confirm that their coverage still fits their needs.
The Risk of Choosing Insurance Based Only on Price
While shopping for insurance can be a smart move, choosing coverage based solely on price can sometimes create problems later.
Insurance policies can vary significantly between companies in areas such as:
Coverage limits
Deductibles
Liability protection
Exclusions
Claims handling
For example, homeowners policies may differ in how they cover:
roof damage
water damage
replacement cost coverage
personal liability protection
For example, many homeowners do not realize that their liability protection may depend on having a separate umbrella policy. In recent years, some insurance companies have tightened underwriting requirements for umbrella coverage as well.
We recently wrote about why some umbrella insurance policies are being non-renewed and what homeowners should know about it.
A policy that appears less expensive may include higher deductibles or reduced coverage in certain situations.
Because of this, it’s important to look at both the premium and the protection provided when comparing insurance policies.
Why Working With an Independent Insurance Agency Can Help
One advantage of working with an independent insurance agency, such as the Overmyer Insurance Agency, is the ability to compare coverage options from multiple insurance companies at once.
Rather than contacting individual companies separately, an independent agency can help review:
coverage options
deductibles
liability limits
premium differences between carriers
At OIA, we work with homeowners and drivers across New Jersey to evaluate insurance options and explain how different policies compare.
The goal is not simply to find the lowest premium, but to help ensure that coverage is structured properly for each client’s needs.
When It Makes Sense to Compare Insurance Quotes
Shopping for insurance may make sense in several situations, including:
When a policy renews with a significant premium increase
After purchasing a new home or vehicle
Following major home renovations or improvements
If liability exposure has increased
When coverage limits need to be reviewed
Even if a homeowner or driver ultimately keeps their current policy, comparing coverage can provide peace of mind that their insurance remains competitive and appropriate.
Final Thoughts
Insurance shopping is becoming more common as premiums rise and consumers become more aware of their coverage options.
While comparing policies can be a good way to manage costs, it’s important to look beyond price and carefully review how coverage works.
A well-structured insurance policy should protect not only your home or vehicles, but also your financial security if a major loss occurs.
Need Help Comparing Insurance Coverage?
If you would like help reviewing or comparing homeowners, auto, or umbrella insurance, we are always happy to assist.
The Overmyer Insurance Agency works with multiple insurance companies and helps homeowners and drivers across New Jersey find competitive coverage that fits their needs.
📞 908-476-8685
Or request a quote online anytime.