Having an car policy policy is non-negotiable for all car owners. But what happens when you wish to switch to something better or have trouble keeping up with premiums ?
This is normally the case with GEICO car insurance policyholders, and you ’ rhenium nowadays facing the same dilemma .
You ’ re likely hesitant about getting out of it due to possible fees and penalties. We ’ ve looked into GEICO ’ second cancellation policy and searched through both official and non-official sources to know how best to get you out of your policy so you can stop paying premiums.
You might be breaking state laws around having an policy policy if you cancel your GEICO insurance excessively early. You ’ ll keep yourself and your car unprotected without new insurance and you might be facing penalties for canceling prematurely .
Keep read and we ’ ll tell you when is the best time to cancel your GEICO policy and whether you have to pay anything .
Let ’ s dive in !
How To Cancel Your GEICO Car insurance policy
Canceling your GEICO insurance Policy is not american samoa unmanageable as it seems. here ’ s what you can do :
call Over the Phone or App
If you ’ re looking for the best method, this is it ! Their customer service is available 24/7, all days of the week, and your cancellation will take effect immediately .
Follow these easy steps :
- Step 1: Call GEICO at 1-800-841-1587 or through the mobile app. You’ll be connected to a licensed agent. If you’re still unsure about canceling your policy, this will also serve as a chance to negotiate for a better deal.
- An automated phone system will likely answer you, so make sure to respond by saying “cancel insurance policy.” You will then be asked to dictate what type of policy, so simply say “Auto.” You will then be asked to read out your policy number, and an agent will attend to you shortly.
- Step 2: If you’re sure about moving forward with cancellation, be firm about your decision. Let the agent know when you want your GEICO policy to be canceled.
- Step 3: Ask about how you can receive your cancellation information, which can either be through mail or email. You’re all set!
Things to Prepare:
- GEICO policy number
cancel by mail
If you wish to cancel your policy by mail, follow the steps below :
- Step 1: Understand that you must send the letter 30 days prior to your intended policy cancellation date. This allows GEICO enough leeway to request more information and follow your requested cancellation date.
- Step 2: Research which GEICO address will work best for correspondence. Keep in mind that this will depend on where you live in the United States, so visit GEICO’s mailing address page.
- Step 3: Once you’re on the page, select Auto Insurance and the state where your current policy has been written.
- Step 4: You will be given three different addresses: late payment address, correspondence address, and the typical payment address. Make sure to send your cancellation letter through the correspondence address.
- Step 5: Begin writing your cancellation letter. Include proof that you have already surrendered or transferred your license plate. You will also need to mail a bill of sale or proof that you already have an existing insurance policy from another company. Include your policy number, full name, address, and contact number.
Things to Prepare:
- GEICO policy number
- Cancellation letter
- Proof of surrender or transfer of license plate
- Bill of sale or any other proof of another insurance policy
Can You Cancel Online ?
unfortunately, GEICO Insurance presently doesn ’ thyroxine offer on-line cancellation. You will need to either talk to an agent to cancel your policy .
Do You Need to Provide Additional Information ?
extra information may be required depending on stream state jurisprudence, but make sure to prepare the follow items if it applies :
- Proof that you have sold your vehicle
- Proof that you have forfeited your license plate
- Proof that you’ve invested in a new auto insurance policy
note that failure to provide these can delay your GEICO cancellation request. In early cases, you may have to pay extra fees .
Why Would You Cancel Your GEICO Insurance ?
Most of the fourth dimension, a GEICO indemnity equitable isn ’ t a good match, no topic how good it may be. Thankfully, GEICO cancellation is elementary and painless ! If you have the comply valid reasons per the GEICO result policy, you can opt to cancel :
- You’ve experienced poor customer service.
- You wish to purchase a new car or sell your old one.
- You’re having difficulty paying the premium due to financial struggles.
- You want to have access to better insurance rates.
- You need to relocate to a new state.
- You simply wish to switch to another insurance provider.
Are there any alternatives to canceling ?
If you remain diffident about your cancellation, GEICO offers flexible solutions. however, these will depend on specific circumstances .
If you ’ re one of those who wish to change their marital status, for example, you might be given special consideration. They may besides accept your other requests like coverage for cars in storage .
To learn more about possible alternatives, it constantly pays to contact a GEICO agent immediately .
When Is the Best time to Cancel Your insurance policy ?
The reasons listed above state why you need to cancel your policy, but when is the best prison term to do so ?
Keep in mind that time is everything as you need to have a guard net before the effective cancellation of your GEICO policy .
There are laws that make it illegal to drive without indemnity depending on your state. More importantly, the road can be unpredictable—are you bequeath to take that casual ?
That said, make sure that your time is right. The best prison term is when you already have a new coverage that can take effect upon your cancellation with GEICO .
besides, keep the following instances in mind :
You Need to Move
If you have relocated to a state not covered by your GEICO policy policy, you will need to request a cancellation. however, make certain to do thus weeks prior to your moving date .
You Sold Your cable car
If you ’ ve sold your fomite and no farseeing wish to own one, you must cancel your car policy.
Read more: The Best Car Insurance Companies for 2022
however, make certain to wait for the newly owner to take possession of the car and for the official transfer of the style. In doing so, you avoid losing coverage .
You Want Better Rates
It ’ sulfur constantly good to look for something effective, so if you wish to switch insurance providers for better value for money, it ’ s best to cancel your existing GEICO coverage .
You can request a cancellation date for GEICO coverage that will coincide with the get down date of your policy with the new supplier .
What Is GEICO ’ south cancellation Policy ?
Before finalizing your decision to cancel, it ’ south crucial to consider potential fees, refund policies, and others that may affect the process .
cancellation Fees
GEICO doesn ’ t charge any cancellation fee. So it ’ s comfortable and convenient to cancel your indemnity policy with them. Just call them over the earphone as we mentioned above .
Refunds
Upon purchase or renewal of GEICO car indemnity policy, you ’ re mechanically bound to either a abridge of six months or one year .
If you paid for the policy in full, you would be entitled to a GEICO refund covering a dowry of your premium .
The sum will be based on the effective date of cancellation and the original policy term passing .
If you have chosen to make down payments and pay subsequent monthly payments, however, you may be asked to pay for a prorate rate up to the effective cancellation date .
GEICO doesn ’ thymine specify how long a refund march takes. You may end up waiting for up to 30 days if you ’ ve paid using a check .
For cash, debit, or citation cards, expect to wait at least a workweek. For the best possible results, contact your agent .
option Insurance Policies to GEICO
now that you ’ re quick to cancel your GEICO insurance, remember that not having policy coverage is illegal under federal laws. so make surely that you get one immediately .
here are some option indemnity providers to consider :
1. Liberty Mutual
Liberty Mutual offers a “ pay for what you need ” policy as separate of its commitment to creating a product where clients feel secure. It allows you to create personalize car policy, ensuring that your coverage responds to your changing needs .
Liberty Mutual is besides known for its discounts, but keep in mind that due to its service and coverages, it can still be considered expensive .
Based on data available on its web site, its standard coverage only encompasses the follow :
- Medical Payments
- Bodily Injury Liability
- Property Damage
New Car Replacements, Accident Forgiveness, and the in-house Liberty Mutual Deductible Fund® are considered as add-ons .
Cost and Discount Details
- Average monthly cost: $245
- Discounts offered: Homeowner, student, safety device, safe driver telematics, accident- and violation-free, full-payment, multi-policy, multi-vehicle, and more
Clearcover Inc .
Clearcover Inc. offers affordability and full control over your coverage. Although offering no discounts, it ensures that you get the lowest potential rates for your needs .
It ’ sulfur known for its agile and painless insurance claims, making it the best in customer service .
Based on the data and reviews available on-line, its standard coverage encompasses the pursuit :
- Liability (bodily injury and property damage)
- Medical payments
- Collision and damage repair
- Uninsured motorist (bodily injury and property damage)
Cost and Discount Details
- Average monthly cost: $127
- Discounts offered: Only military members can get further discounts
nationally
If you ’ re a car owner worried about credit mark, Nationwide is the best choice. It ’ south committed to providing clients with peace of take care, after all. It offers the lowest premium even with bad citation, but the monthly premium can still be considered costly.
Nationwide distillery offers discounts depending on necessitate. here ’ s what the criterion coverage offers :
- Bodily injury liability
- Property damage liability
- Personal injury protection
- Uninsured motorist and underinsured motorist
- Medical payments
Cost and Discount Details
- Average monthly cost: $227
- Discounts offered: Multi-policy, safe driver, low-mileage, good student, accident-free, anti-theft, telematics, defensive driving
conclusion
Canceling your GEICO car insurance policy can seem unmanageable, but the methods are painless then long as you know what to do. It ’ south authoritative to remember the method acting you can cancel your policy, done via phone, and that the best time to do therefore is when you already have surrogate insurance. besides, always remain conscious of state laws—it ’ s illegal to drive without policy coverage, so you ’ vitamin d be facing penalties !