Shopping your policy at renewal

Your renewal notice usually arrives a few weeks before the policy ends. It shows your new premium, and sometimes changes to coverage. That window gives you time to compare without rushing.

Switching at renewal means your old policy simply ends and the new one begins. You avoid cancelling partway through the term, which can come with fees or a refund that takes time.

Start with your declarations page. It lists your coverage limits, deductibles, endorsements and discounts.

Check whether your dwelling coverage still fits what it would cost to rebuild your home today. Building costs change, and an old limit may leave you short after a big loss.

Carriers price policies on what they know about your home. If you replaced the roof, updated the electrical or plumbing, or added a security system, tell them. Those updates may lower your premium.

Also share changes that add risk, like a new pool or a home business. Leaving them out could cause problems at claim time.

• Use the same dwelling, liability and personal property limits
• Match deductibles, including any separate wind or hail deductible
• Include the same endorsements, such as water backup
• Ask about discounts for bundling, claims-free history and protective devices
• Look at the carrier's claims service, not just the price

Set your new policy to start on the day the old one ends, so you are never without coverage. Then tell your current carrier you won't renew.

If you have a mortgage, your lender requires coverage. When your premium is paid from escrow, send the new policy details to your mortgage servicer so they pay the right carrier.

CapCenter's insurance agency has licensed agents who compare quotes from multiple carriers for home, condo, renters and auto coverage. Bundling home and auto usually earns a multi-policy discount.

We review your policy each renewal to make sure you are not paying too much for your insurance. You don't need a CapCenter mortgage to get a quote.