Rolling around to another insurance renewal period on my homeowner's policy. Aside from the premium and deductible (lower is better) and the coverage level (higher is better), what are the considerations to be taken into account when insuring your primary residence?

Is it an obvious decision to change insurers if it moves me in the right direction (lower and higher, respectively)? Or, are there other considerations which need to be taken into account?

Let's assume for the purposes of this question that both insurance companies are well known names.

  • More coverage is not necessarily better. If it's substantially above replacement value, you're probably wasting money, and inviting arson investigations if the place happens to catch fire.
    – jamesqf
    Commented Oct 18, 2018 at 2:31

2 Answers 2


deductible (lower is better)

Not always true. A low deductible costs more. So if the number of claims over the lifetime is small, then that low deductible can be costly.

On to to your question:

Customer service is a big issue. How has the current company treated you. Have there been any issues with billing, the website, or processing any claims.

Many companies have multi-line discounts. So the more policies you have with them (home, life, auto) the bigger the discount. Does either company have those discounts. If so how does the decision to switch impact those discounts?

Have there been any indications they will exit the market in your area. There have been situations where some companies decide to stop offering homeowners policies due to a large number of claims in an area.

Insurance in the US is regulated by the states. The state government website may include reviews of the insurance companies.


For me, there are several considerations. The insurance company that I use for home insurance isn't always the cheapest but it's always close for comparable coverage. It offers discounts for certain construction features (roofing standards based on date of construction, hurricane shutters, loyalty discount) for bundling with the car insurance, and a periodic certified inspection. In addition, many other insurers of the area occasionally cancel policies when incidence of claims is higher and AFAIK, mine has never done so. So I don't rock the boat to save a C note or two.

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