As you evaluate your recurring bills, you most likely search for methods to chop prices. If you’re paying for this protection, however you’ve by no means filed a renters insurance coverage declare, it would begin to really feel like an pointless expense. If that is the case, you could be questioning in the event you ought to cancel your renters insurance coverage. Is this coverage one thing you want? If not, are you able to cancel renters insurance coverage at any time? And, finally, will the cash you save be value it?

Probably not. Since renters insurance coverage is affordable — $15 a month on common, in accordance with the Insurance Information Institute — and gives a broad vary of protections, most individuals profit from maintaining their coverage in place. For the price of a couple of lattes every month, you retain all your belongings protected, get legal responsibility protection and have your coverage assist with resort prices if a lined peril like a fireplace leaves your rental unlivable.

All informed, it’s a whole lot of safety for the quantity you pay. Still, in the event you’re questioning in the event you ought to cancel renters insurance coverage — or find out how to cancel renters insurance coverage — you’ve come to the appropriate place.

[ Read: How to Choose the Best Renters Insurance ] 

When it’s a good suggestion to cancel renters insurance coverage

Even although having renters insurance coverage is usually a good suggestion, there could also be a couple of situations the place it make sense to cancel renters insurance coverage:

Moving in along with your mother and father

If you’re shifting again in, you possibly can most likely cancel renters insurance coverage. But make it possible for your mother and father’ coverage has enough limits to cowl all your stuff and your legal responsibility. If you’re bringing a canine dwelling with you, for instance, you would possibly need to speak to your mother and father about rising the restrict of their legal responsibility protection.

Buying a home

If you’re now not going to be a renter, you received’t want renters insurance coverage.

This doesn’t imply you must go with out protection, although. Insurance protection turns into much more essential when you’re a house owner.

[ Read: The Complete Guide to Home Insurance ]

As you’re shopping for your own home, you could be questioning in the event you can cancel renters insurance coverage at any time. Generally, the reply is sure — and your insurance coverage supplier would possibly even challenge you a refund for any premiums you’ve paid that you just received’t use. But be sure you set your renters coverage cancellation date fastidiously. Don’t let your coverage lapse till you progress your belongings to your new home and your private home insurance coverage coverage will likely be in impact.

Selling all your stuff

This may appear excessive, however you would possibly select to dump nearly all of your possessions. Maybe you’re touring for an prolonged time or shifting throughout the nation, and also you need to begin recent there.

In that case, with no private property to guard, it would make sense to cancel renters insurance coverage. But in the event you’re maintaining even a couple of possessions — particularly precious ones like a laptop computer or jewellery — assume twice earlier than canceling your protection. Instead, you possibly can decrease your protection limits to deliver the price of your premiums down whereas sufficient protection.

Joining your roommate’s coverage

If you’re residing with roommates, it most likely doesn’t make monetary sense to have two separate renters insurance policies. Instead, you would enhance protection limits in your roommate’s coverage in order that they’ll cowl your stuff, add your self to their coverage and canopy half the premiums.

[ Read: What Does Renters Insurance Cover? ]

How to cancel my renters insurance coverage 

If any of the above conditions apply to you, you’ll need to determine find out how to cancel renters insurance coverage. Here are your primary steps:

  1. Decide on the cancellation date. Before you attain out to your insurance coverage supplier, determine if you need your coverage to terminate. Generally, you’ll need this to be after you’re protected by one other coverage. In different phrases, wait to cancel renters insurance coverage till you’ll be moved again in along with your mother and father, added to your roommate’s coverage or lined by your new dwelling insurance coverage coverage.
  2. Notify your insurance coverage supplier. The approach you do that will rely in your insurer. You can test their web site to see if they provide a option to cancel your protection on-line, however you’ll normally must name them. While you’re on the telephone, ask them: are you able to cancel renters insurance coverage at any time? You would possibly face a penalty for cancelling your coverage early, though these penalties are comparatively uncommon for renters insurance coverage.
  3. Complete any required paperwork. You would possibly must signal a kind to substantiate cancellation of your coverage. Ask your insurance coverage supplier what they want from you to course of the termination of your coverage.
  4. Update your information with them. If you’re shifting, be certain the insurance coverage firm has your new handle to allow them to ship you proof of cancellation.

That’s only a basic information, although. Details fluctuate from insurer to insurer, so let’s have a look at the method to cancel renters insurance coverage with a couple of of the most important renters insurance coverage suppliers:


If you’re questioning find out how to cancel renters insurance coverage with Geico, it’s going to be a bit of sophisticated. Geico has third-party insurers that challenge its renters insurance policies, and also you’ll must get in contact with that firm to cancel. From this web page on Geico’s web site, you possibly can choose the insurance coverage company associate who underwrites your coverage. That will pull up its contact info so you possibly can cancel your coverage.

State Farm

With State Farm, you possibly can cancel over the telephone, by mail or in particular person. This webpage walks you thru every choice.

If you’re nonetheless curious in the event you can cancel renters insurance coverage at any time, we have now excellent news. Usually, State Farm doesn’t cost penalty charges for cancellation.


You’ll must name Progressive to cancel renters insurance coverage with them. Their basic customer support line is (888) 671-4405.

Why is it a good suggestion to maintain your renters insurance coverage?

As we’ve talked about earlier than, renters insurance coverage doesn’t price a lot. And for a small value every month, you get fairly sweeping protections.

For starters, you get protection for all your private property (as much as your coverage limits). That signifies that if a kitchen fireplace spreads and destroys your dishes, furnishings, garments, TV or the rest in your rental, your coverage can step in that can assist you change every part. Same goes for theft: if somebody breaks in and nabs your stuff, your coverage pays out for the replacements (once more, as much as your coverage limits).

What’s extra, your renters coverage’s safety extends past the partitions of your rental. If a private belonging will get stolen out of your automobile, for instance, your coverage may help you change it.

[ Read: How Much Renters Insurance Do I Need? ]

Beyond that, renters insurance coverage gives legal responsibility safety. That signifies that if a visitor slips at your rental and tries to sue you, your coverage may help you pay for authorized charges — and even cowl some or the entire settlement. Again, how a lot safety you get right here is dependent upon the quantity of legal responsibility protection you embrace in your renters coverage.

Most renters insurance policies embrace lack of use protection on prime of all of this. That signifies that if a lined trigger (like a fireplace) makes it not possible to stay in your house, your coverage may help cowl additional prices you incur, like resort payments and restaurant tabs.

All informed, until you’re going to be protected by a unique insurance coverage coverage, it normally doesn’t make sense to cancel renters insurance coverage.

Other methods to avoid wasting in your renters insurance coverage with out cancelling 

If you are feeling such as you’re paying an excessive amount of for renters insurance coverage, right here are some things you are able to do:

  • Check your protection limits. The more protection you’ve got, the extra you’ll pay to your renters insurance coverage. So in the event you assume your legal responsibility (i.e., your danger of getting sued) is fairly low, you would possibly drop your legal responsibility protection limits. Or, in the event you really feel you’ve got an excessive amount of private property protection, you possibly can lower that quantity to make your coverage extra inexpensive.
  • Ask for reductions. There could be reductions you’re not capitalizing on. You might get a reduction in the event you bundle your renters and automobile insurance coverage (i.e., purchase them from the identical firm) or inform your insurer concerning the dwelling safety system you simply put in, for instance. Spend a while on the telephone with an agent asking about all accessible reductions to verify each that’s relevant will get utilized to your coverage.
  • Increase your deductible. This is the quantity you’ll must pay out-of-pocket after a lined loss. If you would comfortably provide you with $1,000, elevating your deductible from $500 to that quantity will make your coverage extra inexpensive.
  • Pay in full or arrange autopay. Some insurers provide reductions after they know they received’t must chase you down to your premiums. Explore your choices to get a small low cost in your coverage for paying your total premium proper now (slightly than in month-to-month installments) or organising an auto draft for what you owe every month.

[ Read: The Ultimate Renters Insurance Guide ]

Too lengthy, didn’t learn?

You could be tempted to cancel renters insurance coverage to avoid wasting a couple of bucks. But that doesn’t imply you must, particularly since renters insurance coverage is normally very low cost. Unless you possibly can be a part of another person’s coverage, are shopping for a home or plan to half with actually every part you personal, hold your coverage in place to provide your self essential protections.

We welcome your suggestions on this text. Contact us at with feedback or questions.

Kacie Goff is a private finance and insurance coverage author with over 5 years of expertise protecting private and business protection choices. Kacie based Jot Content, a full-service content material company, in 2018. She lives in Ventura, CA, along with her husband and dingo-look alike canine, Babou. When she’s not writing, you could find Kacie training yoga, working in her backyard or scoping out a brand new completely happy hour.

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  • Nashalie Addarich

    Nashalie Addarich

    Insurance Editor

    Nasha Addarich is an editor at The Simple Dollar and a former lawyer who focuses on dwelling insurance coverage, auto insurance coverage, life insurance coverage, and financial savings. She is a former contributing editor to