How do I cancel my renters insurance and switch to a new company?
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Asked January 31, 2014
1 Answer
To cancel your renters insurance policy and switch to a new company, you should follow these seven steps:
- Contact your current insurance provider: Call or email your current renters insurance provider and let them know that you want to cancel your policy. Be sure to confirm the effective date of the cancellation.
- Review the terms of your policy: Before cancelling your policy, review the terms of your policy to see if there are any penalties or fees for cancelling early.
- Get a new policy: Research new renters insurance policies from different insurance companies to find one that suits your needs and budget.
- Purchase new policy: Once you have selected a new policy, contact the insurance company and purchase the policy. Be sure to provide them with all of the necessary information to set up your new policy.
- Confirm coverage: Before cancelling your old policy, confirm that your new policy is in effect and that you have the appropriate coverage. You may want to get confirmation in writing from your new insurance provider.
- Cancel your old policy: Once your new policy is in effect, contact your old insurance provider again to cancel your policy. Be sure to confirm that the policy has been cancelled and that you will receive any applicable refunds.
- Keep documentation: Keep documentation of all communication and transactions with both your old and new insurance providers in case there are any issues or discrepancies in the future.
Answered January 31, 2014 by Anonymous