If you’re considering canceling your Geico car insurance policy, there are a few things you should consider first. Not knowing results in a gap in your insurance coverage, which is something you want to avoid. Therefore, in this post, you’ll learn how to cancel Geico car insurance quickly both online and without calling an agent for it.
How To Cancel Geico Insurance
A few considerations must be made before canceling your Geico policy. We’ll take a closer look at a few of them below.
#1. Locate the date of your renewal
The simplest time to terminate insurance coverage is just before the policy’s renewal date. Check your policy documentation or log in to your policy on the GEICO website or mobile app to determine the expiration date of your insurance coverage. If the renewal date is quite far and you’re not willing to wait that long, go ahead and initiate the cancellation process in the worst-case scenario, you’ll owe a small additional cancellation charge.
Note: GEICO typically does not charge cancellation fees, but this may vary by state and type of insurance policy.
#2. Comparing quotes for a replacement policy is a good idea
But if you’ve completely disposed of your vehicle, you’ll need to obtain a replacement auto insurance coverage from another insurer. Additionally, you’ll want to begin shopping for this coverage immediately to ensure ample time to compare your possibilities. When you conduct an insurance review, you will typically be asked when you would like your new policy to begin.
While obtaining rates from different auto insurance companies, ensure that you are comparing similar policies to your existing coverage. Choose a date a day or two before your GEICO policy expires that way, you can avoid coverage gaps.
#3. Consider your reasons for terminating your relationship with GEICO
Are you in the market for a new policy because you believe you can get a better price somewhere else? If so, call GEICO’s customer care department ((800) 841-1587) and share with them some of the lower estimates you obtained. Insurance carriers frequently reduce rates to retain customers and depending on what GEICO offers at the time, it may be worthwhile to keep your current coverage. Additionally, you may contact your insurance agent if you signed up through an agent rather than online at Geico.com.
#4. Submit an application for a replacement policy
Due to the potential for complications caused by coverage gaps, you’ll want to sign up for a new vehicle insurance policy before canceling the old one. Following the purchase of your new policy, you may wish to speak with a representative from your new insurance company. Certain insurance firms will handle the canceling process with your previous insurer, which can save you time and aggravation. Inquire as to whether your new insurance company provides this service. Additionally, the new insurance company may agree to pay for any cancellation fees in order to entice you to switch.
#5. Cancel from your GEICO policy
When your new insurance policy is in place, one of the insurers should contact GEICO at 1 (800) 841-1587 and inform them that you wish to cancel your current policy. Declare “cancel insurance policy” when the automated service answers the phone. Following that, it will request the type of policy you’re trying to cancel
The GEICO agent will almost certainly attempt to convince you to keep your current auto policy. They may even offer you a sweet deal to retain your business. Simply inform the customer service representative that you’ve already signed up with a new insurance carrier and are engaged in switching policies.
The GEICO agent will almost certainly ask you some questions about your new policy, including the insurer’s name, the policy number, and the date the policy is scheduled to begin. Ascertain that you have this information readily available when you place the call.
#6. Know the amount of your refund
If you switch from GEICO to another insurance carrier before your policy expires and you prepaid your insurance premiums, you should receive a refund for any unused premiums.
When you call to cancel, the customer service representative should be able to tell you how much money you will receive; additionally, ensure that they have your current contact information. GEICO will mail you a check, which should arrive within a few weeks. If you do not receive that check promptly, contact GEICO customer service to ascertain whether or not it was issued.
Additionally, you’ll receive a formal notice of cancellation from GEICO, which is frequently included in the wrapper with any refund check. Keep this letter in case there are any difficulties with your transfer.
Do You Need To Provide Additional Information?
Additional information may be required based on current state law, but ensure that the following items are prepared if applicable:
- You must provide proof that you have sold your vehicle.
- Evidence that you have relinquished your license plate
- Evidence that you’ve purchased a new auto insurance policy
Please keep in mind that failing to provide these documents may cause your GEICO cancellation request to be delayed. In some instances, you may be required to pay additional fees.
Now let us see how we can cancel Geico insurance online
How To Cancel Geico Insurance Online
Sadly, there is no way to cancel your Geico car insurance policy online at the moment. However, If you wish to cancel your policy immediately, you must contact this number (Call (800) 841-1587). Having said that, you do not need to be nervous because the procedure is straightforward. Here are steps to take to cancel Geico insurance online.
Is There a Cancellation Fee With Geico?
Geico does not charge an administrative fee for cancellations. Simply contact their licensed agent as described above, and your policy will be canceled immediately.
Reasons for Canceling Auto Insurance
There are numerous reasons for canceling your auto insurance policy. We’ll look at a few of the most prevalent below.
You’re Relocating to a Different State
Geico, fortunately, is available in all 50 states. However, you can simply contact them to inform them of your impending move, and they will provide you with a new quote that is appropriate for your new location.
You Have Modified Your Relationship Status
You are not required to cancel your auto insurance policy simply to add or remove a spouse. Indeed, updating this section of your policy is as straightforward as adding or deleting a name. If your new spouse also owns a car, you may qualify for a Multi-Vehicle Discount.
You Require a Unique Type of Policy
Similarly, you are not required to cancel your auto insurance as a result of this. Additionally, Geico offers homeowners, renters, and other types of insurance policies. Additionally, you can receive a discount if you purchase all of your policies from Geico.
You Cannot Afford It
Occasionally, you may discover a cheaper car insurance policy than Geico. Before making a decision, be sure to check for hidden fees and compare all the fine print. Geico offers numerous discounts and special offers throughout the year, and thus may end up being less expensive than the other company.
However, let us look at how to cancel Geico insurance without calling.
How To Cancel Geico Insurance Without Calling
Have you gotten a chance to download the GEICO mobile app yet? If you do not already have the app, you will want to download it and then click on the “chat” option. Once the software detects that you wish to cancel, it will connect you automatically to a live person via chat. You are not required to make an appointment.
Simply inform the salesperson that you have already begun a new policy and require cancellation. Ascertain that the GEICO cancellation date coincides with the start date of your new policy to avoid a coverage lapse.
Here is the information you should have on hand to ensure a quick and smooth transaction if you are calling to cancel your Geico Insurance:
- Your given name and birth date
- Your GEICO policy identification number
- Name and effective date of your new insurance provider.
Why Would You Want to Cancel Your GEICO Policy?
GEICO insurance is frequently not a good fit, regardless of how good it is. Fortunately, canceling GEICO is simple and painless! You may cancel your Geico insurance policy when calling, if you have one of the following strong reasons, as defined by GEICO’s cancellation policy:
- You’ve encountered substandard customer service.
- You’re looking to purchase a new vehicle or sell your current one.
- You’re having financial difficulties and are unable to pay the premium.
- If you want to be able to obtain lower insurance rates.
- Also, you must consider relocating to a different state.
- If you merely wish to change insurance providers.
When Is the Most Appropriate Time to Suspend an Insurance Policy?
Although the reasons outlined above demonstrate why you should cancel your insurance, when is the optimal time to do so? Bear in mind that timing is critical, as you must have a safety net in place prior to your GEICO insurance becoming useful.
Depending on your state, it is illegal to drive without insurance. Furthermore, the road can be unpredictable. Are you willing to take that risk?
Having said that, ensure that your timing is correct. The optimal time is when you already have another insurance policy in place that will take effect upon your cancellation from GEICO.
How Does GEICO Handle Cancellations?
Prior to finalizing your cancellation decision, it’s critical to consider possible cancellation fees, refund policies, and other factors that may affect the process.
#1. Fees for Cancellation
GEICO does not charge an administrative fee for cancellations. As a result, canceling your insurance policy with them is simple and convenient. Simply contact them via phone, as mentioned previously.
#2. Refunds
When you purchase or renew a GEICO auto insurance policy, you are automatically locked into a six-month or one-year contract. If you paid the policy in full, you would be eligible for a partial refund from GEICO. The amount due will be determined by the cancellation date and the original policy term expiration.
If, on the other hand, you have chosen to make down payments and then monthly payments, you may be required to pay a prorated rate up to the effective cancellation date. GEICO does not specify the duration of the refund process. If you paid with a check, you may have to wait up to 30 days.
Does Geico Refund if You Cancel?
Yes, you will receive a refund of the unused amount of your premiums if you pay in advance and cancel your Geico insurance. You can call Geico to find out how much you will receive and when it will arrive.
Do You Have to Give Notice to Cancel Insurance?
To cancel a pre-authorized payment, the majority of businesses need at least 5-10 banking days’ notice. Therefore, if you cancel your insurance policy on May 1 and your next payment due is May 5, it is likely that your next payment will be deducted from your account.
Does Your Insurance Go Up if You Cancel?
Cancellation typically has no bearing on your ability to obtain insurance in the future. But if your insurer cancels your coverage, it’s because they believe you broke the rules. Having a policy canceled (or terminated) by your insurer can significantly increase your premiums in the future.
What Is the Best Way to Cancel an Insurance Policy?
Even if your policy has only been in effect for a few days, you may cancel it. Contact your insurer or agent to determine the most effective method for canceling your insurance. Some insurance providers allow cancellations over the phone or online. Other insurers may need a written or signed notification.
Does Canceling Car Insurance Hurt Credit?
“Your credit score should not be affected by canceling your auto insurance policy. While auto insurers utilize your credit score to set your premium, they do not use it for anything else. Cancelling an insurance policy would differ from canceling a credit card or loan.
Can I Cancel My Geico Policy Before 6 Months?
At any time, you may terminate your Geico insurance policy. The cancellation might be implemented immediately or at a later date. Geico does not charge a cancellation fee
How Long Does Canceled Insurance Stay on Record?
The majority of insurers look back three years to determine if coverage was canceled for nonpayment. Others look as far back as six or even ten years. It will have a short-term impact on your insurance, and it may also have a long-term impact, even if you transfer providers.
Conclusion
While canceling your GEICO insurance policy may appear difficult, the procedures are straightforward if you know what to do. It’s critical to remember how to cancel your policy and that the optimal time to do so is after you’ve obtained replacement insurance. Additionally, always be aware of state laws driving without insurance is illegal, and you will face penalties.
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