How to Cancel My Renter's Insurance

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Tip

Some companies reimburse premiums paid on a pro-rata basis: If you cancel midway through the month, for example, the insurance company will reimburse you half a month's premium.

Renters insurance covers damage or destruction to property that you rent but do not own. Specific policies vary: Some policies also cover losses due to theft, while others do not. You should look carefully at the list of covered events and exclusions in your own policy. You may feel the need to cancel a renters policy. This could happen because you move to another address or because you have bought a home or simply feel you do not need the coverage.

Step 1

Inspect your lease agreement. Many landlords require tenants to keep a renters policy. If you cancel your renters policy, you may be breaking the terms of the lease.

Step 2

Read your renters insurance policy. Your policy will detail the specific steps that must be taken to cancel a renters policy. You may need to provide a certain number of days' notice. In most cases, the insurance company will require a written notice that you wish to cancel coverage.

Step 3

Secure other coverage. If you wish to continue renters coverage, ensure that you do not have a lapse in coverage. You must ensure that you put a new insurance policy--either a renters or homeowners insurance policy--in place before you cancel the old coverage.

Step 4

Obtain the mailing address or fax number for your insurance company. This should be indicated on your monthly statement or detailed in your policy.

Step 5

Write a letter to your insurance company stating you want to cancel coverage. Include the effective date you want your coverage to cease, your account number, name and address. Some companies also will allow you to cancel over the Internet. You may be able to cancel your coverage by visiting your insurance company's website and logging in using your account name and password.