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Can I change home insurance policies at any time?

Since I bought a home, my financial situation has grown a bit tight. I bought a house when the economy was better, but now the pandemic has increased inflation, and my family is still recovering from my wife’s layoff. I want to find a way to save some money in my monthly budget, and am looking at my home insurance policy. Can I change my home insurance policy at any time?

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Rachel Juillerat · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
It’s been a rough couple of years for everyone, and I’m sorry you and your family are still undergoing challenges. The short answer is, yes, you legally have the right to change your home insurance policy at any time.
That said, there may be fees depending on what you change. For example, changing the deductible (which lowers your premium) doesn’t come with a fee. But if you were to cancel your policy with your current company and start a new policy elsewhere, you may have to pay cancellation penalties.
If in doubt, talk to your current agent about your situation. They can offer advice on ways to save money on your current policy and also advise you of any potential fees.
If you want help shopping for the lowest rates on home insurance, try using the
Jerry
app. Jerry compares personalized rates from the nation’s top providers and delivers the best deals right to your phone in minutes for free. Jerry can even help you find further discounts by
bundling your home and auto policies
.
View full answer 
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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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