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If I cancel my renters insurance policy early, am I entitled to a refund?
Do you get a refund if you cancel renters insurance? Once I get married, I'm going to give up my apartment and cancel my renters insurance. Will I get a refund for unused coverage?
Savannah Grabek · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
Congrats on your engagement!
To answer your question, yes. If you have paid for your renters insurance but cancel before the term is up, the insurance company will typically
refund
you any unused premium.There are
some companies
that have cancellation fees. But even if you are subject to a penalty for canceling, in the long run, it may still be better to cancel. Speak with your insurance agent for details specific to your plan.Bundling your auto and home or renters insurance is a great way to save money—and the
Jerry
app can help save time by shopping around for you. Download Jerry
to get affordable quotes from top insurers delivered straight to your phone.View full answer
- Gregory R.
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