Price difference in renewal vs new quote

My home insurance renewal is around $1.5k/year (Costco AmFm underwritten by Homesite). When double checking their online quote, I'm getting $1.1k/year with lower deductible and higher coverage (Costco AmFm, idk if it will be underwritten by Homesite as well?). What is going on here/what am I missing? Any ramifications if I cancel my existing one and go with the lower quote?

I'll probably cancel regardless because other companies are also giving me lower quotes for similar, if not better coverage. TIA for your insights