Homeowner’s insurance policies are issued on annual terms. Renewal information is mailed and e-mailed at least 30 days before the policy terms end. Renewal time is a perfect time to review coverages and make changes. However, if there are significant changes to a property, a policy may be updated at any time. Changes to a house can change the homeowner’s insurance premium. Some updates may lower homeowner’s insurance costs and others that increase a property’s value may also cause a premium to increase.