Prior to signing and paying for your surety bond, you can cancel any time. After signing, certain conditions must be met for a refund.
How do I cancel my application for Rent or Deposit Coverage?
Prior to signing and paying for your policy, you can cancel your application at any time. To cancel, text SUPPORT to +1 929-556-6810,* then type "Cancel my application."
After you have signed and paid for your policy, the following requirements must be fulfilled to cancel your policy:
1. Where you have signed the lease:-
- The landlord agrees to fully cancel and nullify the lease; and
- The landlord has waived all of the renter's financial liability; and
- The landlord confirms this to us in writing
or
2. Where you have not signed the lease:
-
- The landlord confirms the lease was never signed
After moving into your apartment and after you have signed and paid for your policy, you are not entitled to cancel your policy, even with the landlord's consent.
To cancel your policy, please ask your building’s leasing or management team to email us confirmation of the above. Once we have received the necessary information from the landlord, we will cancel your policy and notify you via email.
Will I receive a refund after the policy is cancelled?
Where the policy is cancelled you will receive a refund of your premium paid, minus a $100 cancellation fee.
If you have already moved in or taken possession of the apartment, or you owe a balance to the landlord, we are unable to refund the premium. Renters are not eligible for a refund following a lease break or lease termination.
Where you are entitled to a refund and if your invoice included collateral, the collateral portion of the invoice is released back to you in the event of a cancellation.
Is there a cancellation fee?
There are no fees associated with cancelling an application prior to signing the contract and finalizing the policy, if you have delivered funds you are eligible for a full refund upon canceling your application.
If you cancel your policy after you have signed and paid, a $100 cancellation fee will be deducted and the remaining payment will be refunded.
My application or policy was canceled. How can I check on the status of my refund?
If you are eligible for a refund, our billing team will email you to initiate the refund once the cancellation is finalized. Once you have confirmed your preferred refund method, please allow up to 10 business days for the funds to reach your account.
If you have any questions on the status of a pending refund, contact underwriting@theguarantors.com.
Do renters get the policy premium back at the end of their lease?
No. Policy premiums for Rent and Deposit Coverage are fully earned upon move-in and are NOT returned when the lease ends.
*By texting us, you consent to receiving transactional calls and text. Standard messaging and data rates may apply. For more information, please visit our Telephone and Text Communications Terms and our privacy policy