I canceled my renters insurance policy that I never had to use am I due some kind of refund?

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Jeffrey Johnson is a legal writer with a focus on personal injury. He has worked on personal injury and sovereign immunity litigation in addition to experience in family, estate, and criminal law. He earned a J.D. from the University of Baltimore and has worked in legal offices and non-profits in Maryland, Texas, and North Carolina. He has also earned an MFA in screenwriting from Chapman Univer...

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UPDATED: Nov 30, 2013

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Insurance Question from Macon, GA

Asked on 11/30/2013

I canceled my renters insurance policy that I never had to use am I due some kind of refund? NULL

Answer given on December 05, 2013

Renters insurance is a protection for you in case there is a covered event that causes damage to your property.If you choose to cancel your insurance, you can do so. Each insurance company handles cancellations in their own way. Some will allow a pro-rate cancellation even if the policyholder decides to cancel the insurance during the term of the policy. Other companies will apply a penalty to the refund if you choose to cancel the insurance during the term of the policy. You can also choose not to renew the insurance, and no payment made and no refund due.You cannot expect a refund of the insurance even though you never filed a claim for your personal property. That is not how the insurance works. It protects you during the time the insurance policy is in force. While you can backdate a cancellation a few days, you cannot go back to the effective date of the insurance simply because you did not use it.

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