Fortunately, Geico doesn't have a complicated cancellation policy. The bottom line is that you'll need to call 800-841-1587 and speak directly to a representative, who will take your policy number and desired cancellation date to record the termination of the policy. You can cancel coverage immediately or at a future date. You'll be responsible for your car's premiums until the cancellation date, but not after.
If you paid premiums in advance after the cancellation date, you should receive a partial refund. Geico does not charge cancellation fees. Just talk to your authorized agent as described above, and your policy will be canceled in no time. Finally, if you're still struggling to pay for your Geico policy, you should consider switching to another insurer.
Because your credit history is correlated with your likelihood of filing an insurance claim, Geico uses your credit data to calculate your premium in states where it's legal. Yes, you can cancel Geico insurance at any time by contacting Geico and canceling your coverage immediately or setting a cancellation date for the future. The other insurer may offer you a cheaper rate on car coverage, but your homeowner's insurance outside the package is much higher. Certain states allow insurers like Geico to charge you a reduced rate if you cancel in the middle of the term of your policy.
For example, drivers can get a discount of up to 15% if they insure a car that is three years old or younger. You pay for car insurance in advance, and since you didn't pay the premium and were out of the grace period, you technically didn't have insurance. Practicing safe driving habits and avoiding traffic violations can help you qualify for lower insurance rates from Geico in the long term. You want to cancel your insurance policy because you think it's a waste to pay for the two months you won't be in your car.
Expensive cars, sports cars and cars with high theft rates are considered to be riskier to insure than cheaper and more practical vehicles. No matter how hard you try, some relationships just don't work, including relationships with your car insurance company. You can reduce your Geico car insurance costs by taking advantage of Geico discounts, opting for a higher deductible and reducing your coverage, among other things. Many insurers accept cancellations through several channels, but Geico will only cancel your policy over the phone.