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Switching your home insurance provider: a guide

Switching your home insurance provider: a guide

Switching home insurance can seem complicated and costly. It’s estimated that almost three-quarters of UK homeowners have been with their current home insurance provider for well over a year. In reality, changing provider is pretty straightforward and it could save you money. Here’s what you need to know about how to switch your home insurance provider. 

Chris King
From the Home team
minute read
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Posted 21 JANUARY 2020

What are the benefits of switching home insurance provider?

A big reason to switch is the potential to save money. There’s a good chance you’ll be able to cut your premium costs if you switch home insurance provider, especially if you’ve been with the same provider for quite a while.

And by using Compare the Market, it’s simpler to check if you’re getting a good deal at renewal time or if it’s worth shopping around.

How do I change home insurance provider?

As your renewal date approaches, it may be time to reassess your insurance needs. Luckily, it only takes five easy steps to make a switch:

Step 1: Consider the cover you need

Have your circumstances changed since you took up home insurance with your current provider? Do you need a more comprehensive level of cover, or have you down-sized? Perhaps you have more high-value items than you did before? Or you’ve a wedding dress to insure.

Step 2: Compare quotes

Use Compare the Market’s comparison service to compare quotes from a wide range of trusted UK home insurance providers. Once you’ve worked out the right level of cover, you’ll swiftly be able to see which providers offer quotes to suit your needs.

Step 3: Do your research

Before accepting a quote, it’s a good idea to research the home insurance provider you’re interested in. Check out some reviews, see what optional extras they offer and be sure to read the policy fine print or at least be familiar with the cover you’re getting.

Step 4: Make the switch

If you’re happy with what you’ve found, there’s nothing to stop you from signing up with your new home insurance provider. Just be sure that your new policy starts when your old one ends, so you don’t go a few days without cover or double insure yourself for a period of time.

Step 5: Notify your current home insurance provider

Several home insurance providers operate on an auto-renewal basis. So, if you don’t tell them not to renew your policy, they’ll do so automatically. Don’t risk that happening. Make sure you tell your insurance provider – by email or telephone – that you wish to end your insurance before your policy renews.

Does switching home insurance providers cost anything?

As long as you’re changing before your renewal date or within the 14 day cooling-off period after your renewal date, there shouldn’t be any additional costs. If you decide to switch early, you’ll need to cancel your old policy, and this may come at a price. The cancellation fee varies depending on the provider, so make sure you check what yours is.

Unless your circumstances make an early cancellation fee worthwhile, it’s best to weigh up whether it makes sense to change mid-policy.

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