EDIT: Yes, you may not need 400A immediately, but if you're doing an upgrade, the cost delta between the conductors for 200A vs 400A is not substantial except for very long runs. Also, some utilities will cover the cost of a service upgrade to the meter; from the meter onward into the home is your cost. Balance cost with future needs, future labor costs, etc. Very similar to dropping a whole bunch of cheap fiber in a trench just in case you need it in the future.
I usually recommend people combine this work with a solar PV install, to capture the 30% federal tax credit towards the work (if you can justify the upgrade as necessary, which you can if your current service is less than 200A), as it has no limit on the amount you can capture as part of the install (versus the previous tax credit for electrical upgrade costs for installing an EV charging station).
[1] https://www.fhwa.dot.gov/policy/otps/policy_brief_dig_once.p...