--- title: Are you getting a new insurance policy? description: "Switching homeowners insurance? Follow these 8 essential steps to get a new policy: review your current coverage, shop for quotes, provide autoMHatic information, coordinate effective dates, and manage escrow. Avoid coverage gaps and ensure a smooth transition." --- [Skip to content](https://help.automhatic.com/help/are-you-getting-a-new-insurance-policy#main-content) English Show submenu for translations [More support](https://help.automhatic.com/help/kb-tickets/new?hsLang=en) ![autoMHatic Logo small 200x92-1](https://help.automhatic.com/hs-fs/hubfs/autoMHatic%20Logo%20small%20200x92-1.png?width=308&height=131&name=autoMHatic%20Logo%20small%20200x92-1.png) Open main navigation Close main navigation - English Show submenu for translations - [More support](https://help.automhatic.com/help/kb-tickets/new) - [Contact us](mailto:customerservice@automhatic.com) [Contact us](mailto:customerservice@automhatic.com) How can we help you? - There are no suggestions because the search field is empty. 1. [autoMHatic Financial Help Center](https://help.automhatic.com/help?hsLang=en) 2. [Insurance: What you should know](https://help.automhatic.com/help/insurance-what-you-should-know?hsLang=en) February 17, 2026 # Are you getting a new insurance policy? ## 8 steps to take when you're getting a new insurance policy #### 1. Review your current policy and escrow setup Start by pulling your current homeowners insurance declarations pages. This lets you see your existing coverage limits, deductibles, and what portion of your monthly payment autoMHatic is collecting in escrow for insurance. Understanding your baseline makes it easier to compare quotes and spot how a new premium might change your escrow and monthly payment. #### 2. Decide what coverage you need Before you shop, decide whether you want to keep the same coverage or make changes, such as higher dwelling limits or different deductibles. We suggest at least having coverage equal to replacement value. Having a clear target helps you evaluate quotes apples‑to‑apples.  #### 3. Shop for and select a new policy Get quotes from multiple insurers for the coverage level you’ve decided on. Make sure each quote reflects that autoMHatic will be paying the premium from an escrow account, so the insurer knows to bill autoMHatic rather than you directly. Once you’ve compared coverage and price, choose the policy and carrier that best balance cost and protection. #### 4. Provide correct autoMHatic information to the new insurer When you’re ready to bind the new policy, give the insurer the exact name, mailing address, and any clause or coding that autoMHatic requires (including your loan number). This ensures the mortgagee clause on the new policy correctly lists autoMHatic as the interested party so they receive bills and policy updates without delays. Here's our mortgagee clause: Tammac Holdings Corporation ISAOA/ATIMA PO Box 1249 Coppell, TX 75019 #### 5. Align the effective dates to avoid gaps Coordinate dates so your new policy starts the same day your old policy ends. Aim for a seamless transition: new coverage effective at 12:01 a.m. on the same date the old one cancels. This avoids any lapse that could put you in breach of your loan terms with autoMHatic or trigger force‑placed coverage. #### 6. Purchase the new policy Once autoMHatic’s information and your effective dates are correct, finalize the purchase of your new policy. Because your premium is paid through escrow, you typically will not pay the full annual premium out of pocket; instead, the insurer will bill autoMHatic directly for the amount due. Keep copies of the declarations page and any confirmation showing the policy number and effective date. #### 7. Cancel your old policy at the right time After your new policy is active, contact your old insurer to cancel the prior policy effective on the agreed date. Verify that the cancellation date matches the start date of your new coverage so there is no overlap or gap that could confuse billing to autoMHatic. Ask the old insurer how and when any unearned premium refund will be issued. #### 8. Notify autoMHatic and manage any escrow refund Send autoMHatic a copy of your new declarations page so they can update their records and ensure future escrow disbursements go to the new carrier. If you receive a refund from the cancelled policy, many experts recommend depositing it back into your escrow account with autoMHatic to prevent or reduce an escrow shortage and avoid surprises in your future monthly payment. - [Paying your loan](https://help.automhatic.com/help/paying-your-loan?hsLang=en) - [Managing your Loan](https://help.automhatic.com/help/managing-your-loan?hsLang=en) - [Escrow - What is it?](https://help.automhatic.com/help/escrow-what-is-it?hsLang=en) - [Insurance: What you should know](https://help.automhatic.com/help/insurance-what-you-should-know?hsLang=en) - [Understanding IRS 1098: mortgage statement](https://help.automhatic.com/help/understanding-irs-1098-mortgage-statement?hsLang=en) - [FAQs](https://help.automhatic.com/help/faqs?hsLang=en) [![autoMHatic Logo small 200x92-2](https://help.automhatic.com/hs-fs/hubfs/autoMHatic%20Logo%20small%20200x92-2.png?width=308&height=131&name=autoMHatic%20Logo%20small%20200x92-2.png "autoMHatic Logo small 200x92-2")](https://help.automhatic.com/?hsLang=en) [NMLS #2663 -](https://www.automhatic.com/#)[NMLS Consumer Access website -](https://www.nmlsconsumeraccess.org/)[PA Mortgage Lender License #22853 -](https://www.automhatic.com/#)[PA Mortgage Servicer License #67672](https://www.automhatic.com/#) autoMHatic Financial is a d/b/a of Tammac Holdings Corporation, 480 Swedesford Road, Suite 200, Wayne, Pennsylvania 19087, (888) 226-8929. Licensed in Alabama, Arizona, Delaware, Florida, Georgia, Kentucky, Louisiana, Maine, Michigan, Mississippi, Missouri, New Jersey, Ohio, Oklahoma, Pennsylvania, South Carolina, Texas, Virginia, West Virginia. Tammac Holdings Corporation NMLS ID #2663 (please visit [www.nmlsconsumeraccess.org](https://www.automhatic.com/#) for state license information). Programs, interest rates, terms and fees are subject to change without notice. All loans are subject to credit approval and property valuation. This site is not authorized by the New York State Department of Financial Services. No mortgage solicitation activity or loan applications for properties located in the State of New York can be facilitated through this site. AM Home Loans, LLC is a wholly-owned subsidiary of Tammac Holdings Corporation. AM Home Loans, LLC is a separate legal entity operated and managed through its own management and governance structure as required by its state of incorporation, and applicable and legal and regulatory requirements. Products not available in all states. NMLS # 2683514. Maryland License/Registration #: 2683514. 480 E. Swedesford Road Suite 220, Wayne, PA 19087, (888)-567-7771. Copyright ©2025 autoMHatic Financial. All rights reserved