Can I add or remove coverages in the middle of my policy?

You may not realize it but your homeowner’s insurance policy is an important insurance tool that can be re-calibrated to your needs at a moment’s notice. With today’s technology, you can even adjust your coverage limits via your insurance company’s website or through the company’s mobile app.

There are even insurance companies that offer an all-hours service line to their clients so you can call at any time during the day or night to remove or purchase additional coverage insurance.

You must remember that if you want affordable home insurance, don’t add or remove coverages just to get a better rate. Having proper protection should always be your primary concern; however, there are ways that you can save money without reducing your coverage. In fact, you can shop online to compare home insurance policies just as you would if you wanted to compare car insurance coverage options online.

If you need to add or remove coverages, enter your ZIP code to compare free insurance quotes right away.

When should changes be made to a homeowner’s insurance policy?

It’s a good rule of thumb to review and adjust your policy as needed whenever you experience a major change in your life. For instance, if you were to add an extension to your home, your previous coverage limits may not be enough to protect your home the way it is now. This change in your home would most likely call for you to increase your homeowner’s insurance coverages.

Before taking drastic action and completely re-writing your homeowner’s insurance policy, make sure that you fully understand all the coverages that are contained within your policy. For instance, there are some property owners who may fail to recognize the distinction between additional coverages vs. coverage extensions.

Now, you may be wondering, “Just what are additional coverages?”

Well, with additional coverage, you have coverage for indirect losses your policy wouldn’t have originally covered while coverage extensions provide additional coverage for what your policy already covers.

How much does a homeowner’s insurance policy cost?

If you’re considering removing additional coverage of property or buying extra coverage, you should be prepared to see a change in your insurance rates — whether they increase or decrease will depend upon the specific action that you are taking.

But how much does home insurance generally cost homeowners? Since every person is unique, no two insurance rates will be exactly the same. The chart below can give you an idea of what you may be paying for home insurance in your state:

Just as car insurance companies do, homeowner insurance companies calculate rates by inputting several bits and pieces of  your information into a finely tuned formula whenever you apply for a quote. An insurance company will take your location, the building style of your home, along with other necessary pieces of information to find your rate.

Here’s a good tip to remember when shopping for a homeowner’s insurance policy: Request quotes with various coverage limits.

If you’re curious as to how home insurance rates fluctuate, add or remove coverages on the quotes you apply for online so you can see for yourself how much insurance you can afford.

When can a homeowner change insurance companies?