Insurance costs change over time, especially for people who already have insurance but are looking for a better deal. You do not have to sacrifice the coverage you need to save, either. Just having an existing home insurance policy is an incentive to competing insurance companies to try to give you a better deal.
One reason you can get better rates over time is because your insurance record is constantly being updated. It is a sign of financial responsibility to have a current policy, and other insurance companies will offer you discounts in order to lure you over to their company.
Your claims record will also play a factor, and that changes as more time goes by without any claims being filed. If you had a claim a few years ago but haven’t filed anything in the last 3 years, potential insurers may not calculate your premiums the same way your current company does.
Things to look for when reviewing home insurance quotes might include extra coverage being offered at the same cost, such as including popular local riders on a standard insurance policy. And the financial status of insurance companies changes as well, so reviewing quotes could alert you to a drop in the financial rating of your current company, a problem that could easily leave you without any coverage at all if a major disaster strikes your area.
If you have other types of insurance policies with another company, check the quotes from that company first. Insurance providers prefer customers who trust them for multiple insurance lines, and doing so has been shown to reduce the risks for the company as well. If nothing else, you will probably be offered a customer loyalty discount, and that in itself could make comparing quotes with your current carrier worth the time.