There is no fee to cancel a GEICO insurance policy. If you paid your policy in full, you'll get a refund for any unused portion of your premiums. With this information, Insurify can provide drivers with information on how companies set the price of their auto insurance premiums. Certain states allow insurers like Geico to charge you a reduced rate if you cancel in the middle of the term of your policy.
Many insurers accept cancellations through several channels, but Geico will only cancel your policy over the phone. No matter how hard you try, some relationships just don't work, including relationships with your car insurance company. The other insurer may offer you a cheaper rate on car coverage, but your homeowner's insurance outside the package is much higher. Whatever the reason, if you cancel your car insurance and you're still a car owner, your coverage may be considered expired if you haven't yet obtained a new policy from another insurance company.
By completing a Geico defensive driving course, drivers receive a discount of up to 5% or 10% on their Geico car insurance premium. To cancel a Geico insurance policy, the policyholder must call Geico to speak directly with a customer service agent. When the interactive voice response system prompts you, say “cancel the insurance policy” and then “automatic” if you are going to cancel your car insurance policy. For example, GEICO allows members of the military to suspend their insurance if they are going to store their car for more than 30 days.
Follow these steps and you can find the best replacement for your current policy, set up your new policy the right way, and cancel your GEICO policy for continued car insurance coverage. Auto insurance policies are automatically renewed at the end of the term, as long as neither the insurance provider nor the policyholder cancels the policy.