Can I Cancel Renters Insurance?
- 250 POINTSview profileBill SimsProducer, Kendall & Associates Insurance Agency, Greenville, SCYes, you can cancel your renters insurance simply by notifying your insurance company in writing of your desire to do so. The carrier will then credit the unearned premium from the policy to your account. If that credit results in an overpayment of premium on your account, you will be refunded the overpayment. Now, depending on your reason for cancelling the coverage and the insurance company, you may be charge you a cancellation penalty (typically 10% of the unearned premium). You will have to get those specifics from your insurance company.Answered on January 21, 2014flag this answer
14231 POINTSview profileTom SheehanAgency Owner, The Thomas G Sheehan Agency, 27 Glen Road Sandy Hook, CT 06482You can certainly cancel your Renters' Insurance if you no longer have a need for the protection that it provides. Be sure to check to see if having such coverage is a requirement of your lease, however, before proceeding. If you are no longer renting and there are no such requirements, then provide your insrance professional with a request to cancel in writing and they will take care of the processing for you.Answered on January 21, 2014flag this answer
7647 POINTSview profileMark Bartlett CLCSBranch Owner, TWFG Insurance Services, Fremont California and the Greater Bay Area Representing Dozens of Insurance CarriersYou may cancel your renters insurance at any time. Generally your insurance provider will require the cancellation in writing. Hopefully you have another policy in place to cover you in the event of a loss. I would further discuss with your current agent as to why you wish to cancel the policy to protect yourself from any potential exposures.Answered on January 21, 2014flag this answer
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