It is never much fun to get a notice that your insurance rate is increasing! The knee jerk reaction is to shop the insurance. But don’t get mad, get smart! Sometimes you can lower the premium where you are and stay with your agent and current bundle situation. First ask yourself what has changed?
Has a recent claim caused my insurance premium to jump? Weighing it now was the claim worth it? Did the claim get me a new roof (this could mean new roof discount). Did I recently update anything: plumbing, electrical, roof, HVAC. Depending on the insurers guidelines, one or all of these may get you a discount! Have I added an alarm system? Most insurers give a discount for having a monitored burglar alarm.
When is the last time I reviewed my protection. The most important is the dwelling limit. This is something to watch, many carriers automatically increase this value due to inflation. Some carriers just use a standard % for everyone. After 10+ years of that, you could be over-insured. Perhaps adjusting that could lower the premium. The remaining values are often just % of the dwelling value.
Next important item is reviewing the deductibles. If you still have a $500 or $1,000, you may want to see if increasing to a 1% or maybe a $1500, $2000 or $2500 deductible. This can make a big difference; especially if any of the above suggestions can be combined this this one.
Lastly, are you bundling? Are there other lines you could bring over to get multi-policy discounts? I would highly recommend running all these scenarios and any that your agent deems important before just firing your current agent/ company.