How to Transfer Renters Insurance

Table of Contents

1. How do I transfer my renters insurance policy to a new address?
2. Can I transfer renters insurance to a new city?
3. Can I transfer renters insurance to another state?
4. Can I transfer renters insurance to a new tenant?
5. Can I transfer renters insurance to another insurance company?
6. Should I cancel renters insurance instead of transferring it when I move?

How do I transfer my renters insurance policy to a new address?

To transfer your renters insurance policy to a new address, just contact your insurance company and let them know you’re moving. You’ll need to tell them your new address, confirm that they offer coverage in your new neighborhood, and check whether your policy terms (which include your premium) will change.

All in all, the process takes three steps:

1. Contact your insurer to change your address
2. Provide details
3. Transfer or cancel your policy

Step 1: Contact your insurer to change your address

Some insurers, like Allstate and Lemonade, allow you to update your address and transfer your policy through their website or mobile app.

You can also just contact your insurance agent, which is your best option if you have questions about transferring your policy. All major insurance companies let you do this over the phone — you don’t have to go to your insurer’s actual office unless you want to.

Step 2: Provide relevant details

Next, you’ll need to provide your insurer with your updated information, including:

• Your address
• Your landlord or management company’s name
• The start and end date of your new lease
• Any changes you want to make to your existing coverage

If you’re making any major moving-related purchases (buying new furniture, for example), this is a good time to revisit your policy and make sure everything you own is fully insured.

Step 3: Transfer or cancel your renters insurance

Your next step depends on whether your insurer is available in your new neighborhood. Not all insurers provide coverage in every state, so you’ll need to check whether your policy can be transferred to your new location or if you need to cancel it instead.

This information won’t be hard to track down — either your insurer’s website or the agent you speak to will tell you if you’re moving to an area they don’t cover.

If you’re able to transfer

If your insurer can transfer your insurance, great! You’re all done. Your policy will seamlessly transfer when you move, so you don’t need to worry about gaps in coverage between your current and future residence. If there’s overlap between your old and new leases, your policy will probably also cover both dwellings as long as the period of overlap doesn’t exceed 30 days.

If you’re not able to transfer

If your insurer doesn’t operate in the area you’re moving to, you’ll need to cancel your renter insurance and buy a new one from a different provider (it takes less than one hour to purchase a new renters insurance policy).

Can I transfer renters insurance to a new city?

You can usually transfer your renters insurance to a new city — unless you’re moving to a new state as well, in which case you’ll need to check with your provider. Most insurers offer coverage on a state-by-state basis, so if you are changing states, your new home might or might not be covered.

Moving to a new city might affect your premiums

When you move, your premiums will almost certainly go up or down, depending on whether your new home is safer or more dangerous than your old one.

Insurers calculate your premiums based on a number of risk factors, which they use to estimate how likely you are to file an insurance claim. Insurers tend to be a bit cagey about what these are, but we know that two of the biggest risk factors that affect your premiums are natural disasters and crime.

If you’re moving to a city in the same state, it will probably have similar geography and weather patterns, which means natural disasters won’t be a big factor. However, your new city might have a different crime rate than your old one, which will affect your premiums.

The difference can be substantial. In Lansing, MI, for example, you can buy renters insurance from Lemonade for about $12 per month. In certain neighborhoods in Detroit, MI, just an hour away, you’ll have to pay about $150 per month. (For more on this, read our review of Lemonade’s renters insurance and our breakdown of renters insurance in Michigan.)

That’s an extreme example; the difference won’t usually be that stark. The best way to get a feel for how your premiums might change is to talk to an insurance agent. Be prepared to pay more per month if you’re moving from a small city to a big one.

Can I transfer renters insurance to another state?

You can usually transfer renters insurance to another state, but doing so might affect your premiums. There’s also a chance your insurance company won’t offer coverage in the state you’re moving to.

Moving to another state that your insurer covers

Your policy terms might change when you move across state lines, because they might need to be rewritten in accordance with state law.

Same as when you move cities, your premiums will also change if you’re moving to an area with a different crime rate or a different rate of natural disasters. For instance, if you’re moving to a state that gets hit by a lot of hurricanes (like Texas or North Carolina), your premiums will probably go up because renters insurance covers most hurricane damage.

Moving to another state that your insurer doesn’t cover

Availability in each state varies between insurance companies, and if you move to a state your insurance provider doesn’t cover, you’ll need to cancel your current policy and purchase a new one from another insurer.

If that’s the case, try to buy your new policy before you cancel your current one. Not only do you want to avoid gaps in your coverage, but cancelling your renters insurance too soon might violate the terms of your lease if your landlord requires renters insurance.

Can I transfer renters insurance to a new tenant?

No, you can’t transfer your renters insurance policy to a new tenant. If you sublet your place or transfer your lease to someone else, the unit’s new occupant will have to buy their own renters insurance.

Can I transfer renters insurance to another insurance company?

No, you can’t transfer your existing renters insurance policy to another insurer. The only way to move from one insurance company to another is to cancel your current policy and purchase a new one.

Before canceling your policy, check whether it has cancellation fees. You should also make sure to buy your new policy before you cancel your old one.

Should I cancel renters insurance instead of transferring it when I move?

If you’re moving, it’s usually easier to just transfer your policy instead of canceling it (assuming your insurer offers coverage in your new neighborhood, of course). Most renters insurance providers offer similar coverage at similar price points, so switching insurers usually isn’t worth the hassle.

However, if your insurer recently increased your premiums, or if you think another provider might give you a better deal, there’s no harm in shopping around for a different policy. As with any other purchase, remember to take your time comparing your options before you make a decision.

Canceling your policy: fees and refunds

If you decide to cancel your renters insurance, you’ll have to pay any outstanding premiums that you owe. You may also have to pay a cancellation fee.

However, if you paid for your policy upfront instead of month-to-month, you may have unearned premiums — money that hasn’t yet been used to provide coverage — which your insurer will refund when you cancel.

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