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Replacing a homeowners insurance policy can involve a number of disparate facts and issues. Can the increased premium come from capital, freeing up the burden on your current income? Can you afford this increased premium? There's undoubtedly an increased premium requirement to maintain a current assumption policy if it was originally purchased based on best illustrated price. On the other hand, if the need has increased since your last assessment and such increases are likely in the future, a recommendation to switch to No-Lapse UL's level death benefit is not likely to accomplish your objectives. If there's still a need, but not as much, perhaps reducing the size of the policy will solve the problem prompting the replacement. Is the amount of the policy still appropriate? Does that purpose still exist? Even not liking how the insurance company's been treating you may be a consideration to switch to a company and/or agent you feel will give you more attention and better service. Changes in budget: reduced circumstances could make it difficult to maintain a large policy with significant premiums, and a change in policy may well be the appropriate action. A qualified insurance professional can guide you through the process of making the subjective decisions surrounding a carrier's modest drop in financial ratings. From the standpoint of deciding if you should leave an insurer whose ratings have slipped, a one or two-step drop with one rating agency is not sufficient to suggest an immediate replacement.