Homeowners insurance is one of those expenses that often gets set on “auto-renew” without much thought. But just because your policy renews automatically doesn’t mean it’s always the best option for your wallet or your coverage needs. So, how often should you shop around for homeowners insurance?
The General Rule: Every 1–2 Years
Experts recommend reviewing and comparing insurance quotes at least once every 12–24 months. Rates can change for many reasons — from shifts in the housing market to updated risk assessments in your area. Regularly checking ensures you’re not overpaying.
Other Times to Shop Around
1. After a Rate Increase
If your premium jumps significantly at renewal, it’s worth comparing quotes to see if another insurer offers the same coverage for less.
2. When Your Home Value Changes
Renovations, home additions, or major upgrades (like a new roof) may affect your coverage needs and could qualify you for discounts with another provider.
3. Life Changes
Events like marriage, retirement, or paying off your mortgage can influence your insurance profile. Shopping around ensures you’re matched with policies that reflect your current situation.
4. After a Claim-Free Period
If you’ve gone several years without filing a claim, another insurer may reward you with a lower premium.
5. When Bundling Becomes Possible
If you recently got a car or switched auto insurers, combining home and auto insurance could save you hundreds.
Why Shopping Around Pays Off
- Premiums vary widely between companies for the same coverage.
- Discounts and incentives differ by provider.
- Your risk profile changes over time — and insurers may view you differently.
The Bottom Line
You don’t need to switch insurance companies every year, but you should compare quotes regularly. Every 1–2 years, or after major life or home changes, is a smart timeframe. Staying proactive ensures you have the right coverage at the best possible price.