Is There Month-to-Month Renters Insurance?

There are no month-to-month renters insurance policies for tenants. Since renters insurance annual premiums are generally affordable, insurers may not find it economically viable to offer coverage for just a few months.

If you only require renters insurance for less than a year, such as when you've recently signed a six-month lease or plan to move out in eight months, your best course of action is to purchase a cheap renters insurance policy and cancel or transfer the policy to your new address.

Cancellation procedures and associated fees may vary depending on your chosen insurance company. Typically, you must initiate the cancellation process either online or by contacting your insurer. If you've paid your premium in advance or in full, you should ask whether they can refund the unused portion of your premium upon cancellation.

If you only need renters insurance for a short period, you have a few alternatives, such as getting a six-month policy, transferring it to a new address or simply canceling it. The option most suitable for you depends on your needs and future plans. Here are your options:

Exploring these options allows you to tailor your renters insurance to your specific short-term needs without committing to a lengthy contract. This flexibility ensures that you're adequately protected throughout your stay.

Although property ownership with rental units differs significantly from being a tenant, there are also no month-to-month insurance policies for property owners. If you're leasing your property, the type of insurance you require depends on the nature of your rental arrangement.

While there are no month-to-month insurance policies for property owners, understanding your rental situation and choosing the right insurance type can provide the protection you need.

There are no month-to-month renters insurance policies to insure yourself while staying in an Airbnb for a month or longer, but if you have existing renters or homeowners insurance, the coverage from your policy will follow you. To get more protection, you can also add travel insurance. Here are your options:

While there is no dedicated month-to-month renters insurance for vacationers, existing insurance policies and travel insurance options can help you secure comprehensive coverage during your long holiday, allowing you to relax and remain worry-free.

Most insurance companies don’t offer true month-to-month renters insurance. Policies usually last a year, though some may offer six-month terms. If you only need short-term coverage, you can cancel a standard policy early or transfer it to a new address. Renters, property owners and even vacationers can use existing coverage or flexible options to meet short-term insurance needs.

While there are no month-to-month renters insurance policies, there are options depending on your needs. Whether you’re a tenant, a property owner or a vacationer looking for short-term insurance, understanding your alternatives is essential to make sure you're protected. We answered some frequently asked questions to clarify some misconceptions.

Why Trust MoneyGeek?

We obtained information from Quadrant Information Services and examined rates of customer and claim satisfaction from the top industry assessments, J.D. The National Association of Insurance Commissioners (NAIC), AM Best, and Power. In order to provide the best renters insurance solutions for different renter profiles and demands, as well as at the national and state levels, MoneyGeek developed a ranking methodology to compare the data.

Renters Insurance Profile

In this study, MoneyGeek focused on a particular profile of renters, characterized by:

• Good credit score
• Claims free for over five years

Moreover, the research also encompassed scenarios involving renters with varying credit histories and different records of insurance claims.

Renters’ Insurance Coverage Details

Calculations for the average home insurance rates were based on the following policy specifics:

• $20,000 in personal property coverage
• $100,000 in personal liability coverage
• $1,000 deductible

Additionally, MoneyGeek's investigation included an exploration of policies offering broader coverage ranges, extending from $20,000 to $100,000 for personal property, liability coverage ranging from $100,000 to $300,000, and deductibles varying between $500 and $2,000.