Louis took steps to hold car manufacturers accountable, demanding in a letter that companies take responsibility for thefts and threatened to file a lawsuit for the defect if they didn't. Louis' insurance agent, Osvaldo Aguilar, said that premiums for those specific cars are rising at a higher rate than those for other vehicles. Many insurers accept cancellations through several channels, but Geico will only cancel your policy over the phone. Finally, if you're still struggling to pay for your Geico policy, you should consider switching to another insurer.
The panel also wrote that Geico could have defended its interests by defending the insured person. 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. 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. The other insurer may offer you a cheaper rate on car coverage, but your homeowner's insurance outside the package is much higher.
Practicing safe driving habits and avoiding traffic violations can help you qualify for lower insurance rates from Geico in the long term. For example, drivers can get a discount of up to 15% if they insure a car that is three years old or younger. 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. 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.
Certain states allow insurers like Geico to charge you a reduced rate if you cancel in the middle of the term of your policy. 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.