You must revoke your Geico car insurance policy. Perhaps you sold your automobile or are simply looking to switch after seeing your Geico premium go up. Maybe you just want to have one insurance company handle all of your policies?
Whatever the reason, be sure you are aware of Geico’s cancellation policies and take the necessary measures to end your coverage before you cancel. Even a day’s worth of coverage gaps might be incredibly expensive.
Car insurance cancellation reasons
You may decide to cancel your coverage with your existing provider for a variety of reasons. You might be selling the vehicle or decide not to drive anymore. To change auto insurance providers, however, the majority of consumers cancel their policy.
Whatever the cause, if you cancel your vehicle insurance while still having a car, if you haven’t already signed up for a new policy with a different insurer, your coverage may be deemed to have expired. Almost all jurisdictions require drivers to carry auto insurance, and failing to do so could result in penalties and trouble finding coverage in the future.
How to Terminate Geico Auto Insurance
Frank Gogol posted this in Money Saving on August 26, 2022.
Do you intend to revoke your Geico auto insurance policy? Before attempting to cancel your Geico policy, you must first take into account a number of factors. This is because faulty or insufficient planning could unintentionally result in a gap in your insurance, which is something you do not want to happen.
- Geico Auto Insurance Cancellation by Phone
- Geico auto insurance can be cancelled over the phone
Although it might look difficult, it’s really rather simple:
- Please call (800) 841-1587 from a phone.
- Request to speak with a certified Geico agent.
- A system that uses interactive voice response (IVR) may ask you to talk (IVR).
- Say “Cancel insurance policy” loudly before adding “Auto” or “Car.”
- You can be asked for your Geico policy number, so keep it handy just in case.
How to Onlinely Cancel Geico Car Insurance
You can’t now cancel your Geico auto insurance coverage online, which is a bummer.
The only way to cancel your coverage as of right now is to call the number provided above. Despite this, you shouldn’t worry because the procedure is simple.
Is There a Cancellation Fee with Geico?
There is no cancellation cost at Geico. Your insurance will be cancelled immediately if you speak to their licenced representative as described above.
Things to Think About Before Cancelling Your Geico Policy
There are a few things you should take into account before cancelling your Geico coverage. We examine a few of them in greater depth below.
Should Your Policy Be Suspended Alone?
Maybe you could just suspend your coverage instead of cancelling it if you anticipate not driving your car for the next month or two.
Let’s say, for illustration, that you are planning a two-month trip abroad. Because you believe it would be wasteful to pay for the two months that you won’t be using your automobile, you want to terminate your insurance coverage.
Speaking with Geico and explaining your circumstance is an alternative to outright cancelling. They might offer to temporarily halt it while you’re not driving, then resume once you’re back on the road.
Find Different Auto Insurance
It’s critical to compare vehicle insurance rates before terminating your policy. While you don’t currently require another active policy, you should have something in place to protect you in case you decide to cancel.
After all, acquiring a new automobile insurance plan is not always simple. Even though you can already obtain a quote and coverage within 24 hours, you are still unsure of whether unforeseen circumstances might prevent you from doing so. Again, you don’t want to get caught driving without insurance.
Motives for Terminating Auto Insurance
There are numerous justifications for considering cancelling your auto insurance. Here are a few of the most typical.
You’re Transferring to a New State
Geico is fortunately accessible in all 50 states. Simply inform them of your impending move so they can provide you a fresh price appropriate for your new address.
Your marital status has been altered.
Simply because you need to add or remove a spouse from your auto insurance policy does not require you to cancel it. Actually, altering this section of your policy is as easy as deleting or adding a name. You may even qualify for a multi-vehicle discount if your new spouse drives.
You require a unique type of policy.
Similar to that, you are not need to revoke your auto insurance due to this. In addition, Geico provides coverage for renters’, homeowners’, and other insurance types. If you purchase all of your insurance through Geico, you may potentially qualify for a discount.
For You, It’s Too Expensive
Other auto insurance policies occasionally appear to be less expensive than Geico’s. Before making a choice, make sure to look into all additional costs and evaluate all the small print. Geico frequently gives promotions and discounts, so it can end up being less expensive than the rival firm.
Is there a cancellation cost at Geico?
You can terminate your policy at any time, either immediately or at a later date, without incurring a cancellation fee from Geico.
If I cancel, will I get a refund or would I still owe money?
- Geico will prorate the premium if you paid it in advance and refund the balance.
- Before cancelling your coverage, you must pay the unpaid premium if you fell behind on your payments or recently added a new vehicle.
- By the cancellation date, all payments associated to the cancellation must be done electronically or via the Geico mobile app. Payment sent by mail must have a postmark by the cancellation date.
Do I have to submit any further details?
Geico may request proof of the following, if needed by state law:
- Your licence plate was forfeited to the state department of motor vehicles.
- Sell your car.
- new insurance policy obtained
- If you don’t provide this information, the cancellation may be delayed, and you’ll be charged for the extra coverage.
Instead of cancelling your coverage, think about suspending it.
Even while you might not want to terminate your current policy since you are happy with it, there may be other circumstances in which you no longer require the same amount of coverage or an active policy. What should you do if you need to repair your car, won’t be using your car for 30 days or more, are going on a long trip, or have your licence suspended?
Your insurance provider may let you suspend your policy if the conditions warrant it. This is just one of many adaptable alternatives available to make your policy work for you. Call a GEICO agent to discuss your options to see whether you can suspend your auto insurance coverage.