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Can I change my home insurance after closing?
We’re about to close on a new home. Everything’s set up for the mortgage and insurance—but I just realized I could’ve got the same coverage for less money. I’m disappointed, but maybe I don’t have to be, can I change my home insurance after closing?
Bellina Gaskey · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
Congratulations on the new home! Good news—if you’re set on switching providers, you can change your home insurance after closing. Generally speaking, you’re entitled to swap insurance providers or change your coverage level at any time.
It’s easiest to make a switch when it’s time to renew or cancel your policy (which happens annually on your renewal deadline). You can switch before your renewal deadline, but you may have to pay a cancellation fee to your existing insurer.
If you’re looking for the same coverage, you shouldn’t have any problems, but note that you shouldn’t change your insurance right after closing if the new policy doesn’t meet your mortgage lender’s requirements. Doing so would put you in violation of the contract you just signed!
You also can’t change your home insurance to add coverage for damage after it occurs if you want to submit a claim. Additionally, many providers prohibit adding additional insurance right before a disaster is projected to take place (e.g., adding flood insurance 48 hours before a major hurricane).
We all have insurance questions. If you need to talk to an experienced agent or want to find a lower rate, use
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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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