How To Cancel Geico Insurance? Step-By-Step

Do you intend to revoke your Geico auto insurance policy? Before trying to cancel your Geico policy, you must first take into account a number of factors. Whatever the reason, make sure you are aware of Geico’s cancellation policies and take the necessary steps to end your coverage before you cancel. Even a day’s worth of coverage gaps could cost a lot of money.

In this article, we’ll explore the steps of canceling Geico insurance for you. Please keep reading.

Reasons For Cancelling Auto Insurance

You may decide to cancel your policy with your current provider for a variety of reasons. You might be selling the vehicle or giving up driving altogether. To change auto insurance providers, however, the majority of people cancel their policies.

Whatever the reason, if you cancel your auto 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.

Auto insurance is mandatory in almost all states and you could face fines and encounter difficulties obtaining insurance in the future.

Geico’s Cancellation Policy

You might be able to modify your Geico policy online, but if you want to cancel, you’ll usually need to call and speak with a customer service representative. If you’d prefer to cancel online, this isn’t ideal, but if you speak with a helpful representative and are clear about your intentions, the process is frequently simple and easy.

You can cancel your insurance policy with Geico at any time, which makes it simple for you to change insurance companies if you find a better deal or aren’t satisfied with the service you are receiving. Geico doesn’t usually charge cancellation fees, but you should check your specific contract to see what the terms and conditions are.

You should be reimbursed for any unused portion of your policy if you paid for your Geico insurance policy in advance and decide to cancel it before the renewal date.

Considerations For Cancelling Your Geico Policy

For some of the reasons that might cause you to want to cancel your auto insurance, GEICO offers flexible solutions. If you’ve relocated, undergone a marital status change, won’t be driving for a while, are unable to pay for your auto insurance, or have discovered a more affordable auto insurance option, you should think about exploring your options with GEICO.

GEICO offers solutions for all of the aforementioned problems, whether you want to drop a family member from your policy, look for discounts to lower the cost of your GEICO auto insurance, or get a lower rate. To find out how to modify your policy to suit your needs, contact the company.

How Do You Cancel Your Insurance With Geico?

Geico may allow you to cancel your policy with just a phone call, but there are a few factors to take into account before doing so. Before deciding to cancel or negotiate a new policy, following these steps can help you make sure you aren’t forgetting any crucial information.

Consider The Reason You’re Canceling

Justification for your desire to revoke your Geico insurance coverage Is the price excessive given the coverage you receive? Or was it a less-than-ideal experience? Finding a different provider who can meet your expectations makes sense if you haven’t had the best experiences with Geico’s customer service.

But before you cancel, you might want to think about speaking to a Geico agent if you want more reasonably priced coverage. Geico might be able to provide you with a discount or other incentive to lower the price of your insurance policy and make it more affordable.

Keeping your business with the insurance provider so that a rival provider doesn’t gain more clients is frequently in their best interests.

Remember that you will probably want to look into what Geico’s rivals have to offer. When you call Geico to discuss the cost of your coverage, you will already be aware of the prices and policies of the competition.

Review Your Policy Terms

There are some terms and conditions that might apply if you decide to cancel your current Geico insurance policy. Before calling, it’s a good idea to familiarize yourself with these terms so that nothing catches you off guard. This may entail checking any potential cancellation fees, the expiration date of your policy, and the scope and limits of your insurance coverage.

Geico typically doesn’t charge cancellation fees, but it’s best to double-check. It’s frequently advised to cancel an insurance policy just before it’s about to expire because cancellation fees might apply. By doing this, you can typically avoid any fees and change to a different insurance plan to avoid having your coverage lapse.

The exact amounts of your coverage, including the limits for each type of coverage you have, must be determined as part of this step. For instance, your Geico auto insurance policy might have bodily injury liability limits of $300,000 per accident and $100,000 per person.

Your search for comparable coverage from another insurance company may be aided by keeping these figures in mind. Because you’ll be comparing the same type of coverage and the same coverage limits, it can also help you compare prices between various auto insurance providers more accurately.

Gather Important Information

When you call Geico to cancel, they will typically request a few pieces of information from you. This might include your full name, address, contact information, and Geico policy number. To speed up the process, gather this information before making the call so you won’t have to search for your policy number.

You can frequently find your policy number online in your Geico account, on the paperwork accompanying your insurance contract, or on an insurance card.

A Geico customer service representative can access your account information, including the policy expiration date, using your personal information and policy number. If you intend to continue owning and operating a vehicle after canceling your Geico policy, keep in mind that you should have a new auto insurance policy ready to go. By doing this, you can prevent a coverage lapse.

When you don’t have auto insurance but still own and operate a vehicle, this is known as a lapse in coverage. In the majority of states, driving without a minimum level of auto insurance is against the law.

If you don’t have any coverage, a car accident could also be financially disastrous. In addition, if you ever let your insurance lapse, insurance companies might view you as a greater risk and increase your rates.

It often makes sense to give yourself a few days where your old and new policies overlap when switching auto insurance policies. By doing this, the chance of a coverage lapse may be decreased.

Do Competitor Research

Before calling Geico, it makes sense to look up policies and quotes from other auto insurance providers if you want to lower your rates. You have concrete proof that you can leave Geico to find a better deal elsewhere if you discover lower prices for the same type of coverage from another provider.

When you speak to a Geico representative, you can use this as a negotiating tactic. You have the option to quote actual prices from rival companies rather than speculating that you can get a better deal from another provider.

If Geico matches a rival offer or provides you with a better one, this kind of information, which is difficult to dispute, may help you lower the rates on your current policy.

Additionally, it typically doesn’t take much time or effort to research car insurance rates. If you check individual rates on each auto insurance website or speak with one insurance agent at a time, it might take some time. However, using a website that compares auto insurance can make the process faster and more effective.

Cancel Geico Insurance

Cancel Geico Car Insurance By Phone

Geico auto insurance can be canceled over the phone. It may seem intimidating, but it’s actually very easy:

1. Use your phone to call (800) 841-1587.
2. Request to speak with a Geico agent who is authorized to do business.
3. Using an Interactive Voice Response (IVR) system, you might be asked to speak.
4. Say clearly, “Cancel insurance policy” and then “Auto” or “Car.”
5. As you might be asked for it, keep your Geico policy number close at hand.

Call Geico To Cancel

Call Geico at 1-800-841-1587 when you’re ready to chat with a trained representative. Remember that you should call this number if you want to cancel or if you want to bargain for a better deal on your current Geico policy.

Keep in mind to be courteous but firm when expressing your position to a Geico agent. Customer service representatives may attempt to persuade you to continue doing business with them since they are generally trained to do their best to retain customers. This is where you can use the knowledge you’ve gathered about rival insurance companies’ policies and costs to negotiate a better deal.

Inform the agent of your desire to cancel. It’s time to choose a date for the cancellation of your Geico policy since you should have already obtained a new auto insurance plan by now (if you intend to continue owning and operating a vehicle). Whether you’ll get your cancellation information by mail or email, the agent can explain that to you.

Will I Owe Money If I Cancel, Or Will I Get A Refund?

Depending on how you are doing with the policy payments, you might get a refund or still owe money to GEICO. Under certain circumstances, you might be eligible for a refund. For instance, GEICO will refund the unused portion of your premium if you have already paid the full amount upfront.

The likelihood of you having no debt is high if all of your payments are current. However, you will have to pay the outstanding balance in full before canceling your policy if you have any past-due payments or have recently added a new vehicle to your policy.

Things To Keep In Mind When Cancelling Your Auto Insurance

Know Your State’s Laws

Almost all states require auto insurance in order to register or plate your vehicle. Make sure you understand the legal requirements for your state before contacting your insurance company to cancel your policy.

Consequences for driving without current auto insurance vary by state, but a lapse of coverage could result in the risk of the following:

• Fines
• Driver’s license suspension
• Registration suspension
• SR-22 insurance filing requirement

Inform The Company Of The Cancellation

Not only is it a good idea to let your insurer know that you intend to cancel, but also letting a policy lapse can result in penalties and additional costs. Your insurance bills may keep coming, and your policy could automatically renew. Eventually, you’ll be flagged for nonpayment.

Your carrier will keep sending bills if you don’t let them know, and they’ll probably be followed up by calls or letters. That will eventually stop, but the insurer may mark the account as unpaid and notify the credit reporting agencies of this.

Also possible is a future increase in your auto insurance rates.

When To Switch Car Insurance

The best and simplest time to switch is prior to your renewal date or prior to the payment due for the following month. You can, however, change companies at any time if you’re dissatisfied with the service or discover a lower price.

Buy A New Policy Before Canceling Current Policy

Even a one-day pause can be costly. If you cancel a policy without first putting a new car insurance policy in place, you can face:

• Liability for personal injury and property damages incurred by an at-fault accident
• Higher premiums in the future when you sign up
• If you have insurance lapses in your history, you’ll probably be viewed as a high-risk driver and will pay higher rates all around.

Weigh Options Before Cancelling

Despite the fact that you are not required to do so, it is always a good idea to inform the insurance provider of the reason for your cancellation, particularly if it is due to cost or dissatisfaction.

Because the auto insurance market is so competitive, businesses strive to keep as many clients as possible. The business will likely make an effort to retain your business by providing discounts or other incentives.

Compare the reviews for Geico auto insurance with those for other providers to get a better idea of whether another insurer might be a better choice.

Consider Suspending Policy Instead Of Cancelling

Your insurance provider may permit you to suspend your policy without canceling it in certain situations. For instance, GEICO permits active-duty service members to revoke their insurance coverage if they intend to store their vehicle for a period of time longer than 30 days.

Without actually canceling your policy, suspending coverage essentially puts a pause on it. Any coverage gaps are not going to cost you anything.

Tips On Switching Car Insurance

Here are essential tips to help you learn how to switch car insurance:

• Use an online insurance marketplace: From one of these websites, you can obtain car insurance quotes from reputable companies in your neighborhood in as little as a few minutes while remaining in the comfort of your home. Additionally, having the data in one location makes it simpler to compare the quotes.
• Compare apples to apples: When comparing insurance policies from various providers, it is advisable to compare the same types of auto insurance coverage. As you search for a new policy, this will aid in providing more precise pricing.
• Don’t have a lapse in coverage: A lapse in auto insurance coverage can increase your premiums and is probably against the law in your state. When switching insurance providers, it’s crucial to have a day or two of coverage overlap between your old and new policies. This will guarantee that you won’t experience a coverage gap while driving.
• Avoid cancellation fees: It doesn’t hurt to double-check even if you don’t believe your insurance policy has cancellation penalties. If your policy does have cancellation fees, a quick review of the terms and conditions can help you avoid them when switching providers.
• Get a refund on your old policy: The practice of paying insurance premiums in advance is common, but what happens to the money you’ve already paid if you decide to cancel your policy before it expires? If you choose to end your policy early, many insurance companies will give you a refund for any unused portions of it. To learn how the refund operates and when you should receive it, speak with a representative from your provider.
• Consider your bundling discount: You risk losing the multi-policy discount if you cancel a policy that is bundled with another policy. Before you cancel your current policy, figure out how much the discount will save you and how much you could save by changing insurance companies.

FAQs

Do Cancellation Fees Apply To Geico Policies?

No cancellation fees are assessed by Geico. Your policy will be canceled immediately if you simply speak with their licensed agent as described above.

Can I Have My Insurance Cancelled By Someone Else?

The policy may only be canceled by the policyholder. Unless the person has power of attorney from the policyholder, GEICO won’t let anyone else cancel the policy.

With Geico, Is It Possible To Pause Your Coverage?

Although the procedures may differ depending on the state in which your car is registered, it is possible to pause or suspend your Geico auto insurance policy. To find out what kinds of plans are offered and what the requirements are, be sure to call Geico and speak with a customer service representative.