I'm planning on switching home insurance company mid term. I've always been with State Farm but recently they hiked my rate up very high and I see other insurance companies with lower rates.. Should I set the effective date two months later so the new insurance company can do their underwriting stuff first and scrutinize my house and send out inspector first, so if they somehow dont approve my house I can always stick with my current company?
Is that the correct way to switch insurance company regarding home insurance? Does insurance companies work like that?
Posted by easyguy7
1 Comment
It is unlikely that they will do any serious underwriting stuff until after the effective date of the policy. State laws generally give insurers 60 days from inception to get off a risk.
Setting the new policy date two months from now isn’t going to change that.