How to Switch Home Insurance Providers

Switching home insurance may seem like a lengthy process at first, but with a little bit of time and the right information, you'll know whether you're ready to make the switch. So, when it comes close to renewal time, start shopping around to see whether it's worth switching to a new home insurance provider.

Here's how to switch home insurance policies, and how you could save money in the long run!

With some insurers offering better deals to new customers rather than their existing cover, it does pay to shop around. Here's how you can switch home insurance providers.

There are a variety of reasons why you might switch from your current home insurance provider. Perhaps your premium has increased, and you're looking for better value, or your circumstances have changed, and you're seeking additional coverage because your policy no longer suits you. Whichever it may be, it's worth looking into the options available to ensure you're getting the right cover and value.

A great option if you are looking to switch is around renewal time. Before your current policy expires, you'll usually receive a renewal offer from your insurer with your new premium for your next period of insurance. But, if you're looking for a similar level of cover for a lower amount, this may be a good time to switch home insurance.

It's important to be discerning about the type of home insurance you get, as prices have been steadily on the rise. According to Canstar, average home and contents insurance costs rose by 14% in 2025[1] compared to the year before. That's why you need to be on the look out for the best prices for your circumstances.

Shopping around before the end of the renewal period could not only help you save on home insurance, but it is also a timely opportunity to review your home insurance coverage. But remember to check what your policy covers and your sum insured, the amount you have chosen to insure for home or contents. Factor in things such as home improvements and increases in replacement costs that could potentially add extra cost to your premium.

Before switching insurers, make sure that you understand what you're purchasing by comparing products with the same or similar levels of protection or sum insured. A great way to do this is to use the insurer's Key Fact Sheet so you can review features and benefits side by side and understand further details.

You can also compare home insurance, to see how much you could be saving on your insurance premium by switching insurers.

When comparing policies, you should consider:

• Checking the policy limits – limits can vary between insurers, so make sure they suit your insurance needs.
• Looking for exclusions – some home insurers exclude flood cover or accidental damage insurance in a standard home insurance policy, but some insurers may have additional exclusions on top of this.
• Comparing excesses – having a higher excess could save you money on your premium, however you would also need to be prepared to pay a higher excess in the event of a claim.
• Your sum insured – it's important that this figure accurately reflects the full replacement cost to avoid being underinsured. It's a good idea to review your sum insured regularly, especially after renovations or large purchases for the home, to ensure coverage remains adequate.

Take your time when comparing your coverage details. It's a big task, but remember, it's worthwhile knowing your home and everything in it could be protected in case of a disaster. Don't hesitate to contact us if you need help understanding your home insurance policy.

Remember, once you're getting your quote, insurance premiums are dependent on many factors, so you'll also need to answer a series of questions to get an accurate quote for your new cover.

Once you're certain that you've found the right policy, make sure you know when your current home insurance policy ends, then you can take action. Keep in mind that if you want to switch before your current policy ends, you may be subject to an early cancellation fee. Always make sure your new policy takes effect before you cancel your old policy.

If you're a new customer with Budget Direct you can get a discount on your first year's premium for a new policy purchased online. To qualify for our 30%^ discount on a Home and Contents combined policy or a 15%^ discount on a Home only or Contents only policy you must start your quote online. The discount will then be applied when you take out your policy.

Once you're covered by us, we'll confirm you are covered in writing. Make sure you contact your previous insurer to decline their renewal offer or cancel your other policy before it ends. Remember, your previous insurer may also charge you an early cancellation fee but if you decline the renewal offer and cancel your policy before it renews then you may avoid incurring any cancellation fee that would have applied.