Home insurance renewal: when to get quotes and what to check

Your renewal notice

Your insurer will usually send your renewal notice about 28 days before the policy ends. Under rules from the Financial Conduct Authority (FCA), it has to show:

• Last year’s premium, so you can compare it with the new price.
• A prompt to check your cover and shop around.
• An extra message if you’ve renewed four or more times in a row.

Read the notice properly rather than filing it. If the price has gone up, the notice is the start of your comparison, not the end of it.

Hasn’t the loyalty penalty been banned?

Partly. Since 1 January 2022, the FCA has banned insurers from quoting existing home and motor customers more at renewal than a new customer would pay for the same cover. That stops your own insurer charging you extra for staying.

It doesn’t mean your renewal price is a good one. Insurers price risk differently, so another insurer may be cheaper. MoneySavingExpert says the biggest savings usually come from switching insurer rather than from timing alone. There’s more on this in the renewal tax.

When to get quotes

MoneySavingExpert’s analysis of about 650,000 home insurance quotes, published in January 2026, found:

• The cheapest time is typically 5 to 25 days before you want the new policy to start, with 15 days the sweet spot.
• Buying on renewal day cost £341 a year on average, against £316 when bought around 15 days earlier.
• Quoting 28 or more days ahead can push prices up, because fewer insurers offer cover that far in advance.

Car insurance works in a similar way. See the best time to renew car insurance.

What to check before you choose

Comparing prices only works if you’re comparing the same cover. MoneySavingExpert suggests checking these:

• Rebuild cost, not market value. Buildings cover should match what it would cost to rebuild your home, which is not the same as what it would sell for. The Association of British Insurers has a free rebuild cost calculator.
• Contents value. Add up everything on a new-for-old basis, including clothes. If you undervalue your contents, a payout can be cut in proportion.
• The excess. Don’t set a high voluntary excess if you couldn’t afford to pay it. On a combined policy, check whether buildings and contents each have their own excess.
• Accidental damage. It isn’t usually standard. If you want it, check it’s included or add it.
• Changes to your home. If you’ve done major work, such as an extension, the amount you insure may need to change.
• Add-ons. Look at what you’re paying for and whether you need it.

Paying monthly

MoneySavingExpert describes paying monthly as essentially a high-interest loan, and suggests paying in full if you can. If you do pay monthly, compare the total yearly cost, not just the monthly figure.

Stopping auto-renewal

Many policies renew automatically. The FCA’s 2022 rules made it easier to cancel automatic renewal, so you can turn it off and decide for yourself each year. If you switch, tell your old insurer before the renewal date so you don’t end up paying for two policies.

You can usually switch partway through a policy too, though you may pay a cancellation fee and lose that year’s no-claims discount. MoneySavingExpert advises against it if you’ve made, or are about to make, a claim that year.

A simple plan

1. Four weeks before: find your renewal notice and note last year’s price and this year’s.
2. Check your cover: rebuild cost, contents value, excess and any add-ons.
3. Two to three weeks before: get quotes for the same cover from several places.
4. Ask your insurer if it can match the best price you found.
5. Switch or renew before the end date, and turn off auto-renewal if you’re leaving.