How to Cancel GEICO Insurance?

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 GEICO stands for Government Employees Insurance Company

Image Source: GEICO

Located in Chevy Chase, Maryland, The Government Employees Insurance Company is a privately owned American auto insurance provider. After State Farm, it is the second-largest vehicle insurer in the country.

More than 15 million people have policies with GEICO, a Berkshire Hathaway wholly owned business that insures more than 24 million cars. All 50 states in the United States as well as the District of Columbia offer private passenger auto insurance through GEICO.

Even though the word “government” appears in its name, GEICO has never been a part of the U.S. government and has always been a private company.

What is automobile insurance?

Financial security is aided by having car insurance for you, your loved ones, other passengers, and your vehicle. By picking your coverages and limits, you can determine how much protection you want. A vehicle insurance policy may covers the Accidents, Vehicles, Properties,Medical costs and Liabilities.

Getting to Know Your Auto Insurance

Your auto insurance policy is made up of a number of coverages that offer security in a variety of circumstances concerning your car. Different coverage restrictions and deductibles may apply. A lienholder or lender may also demand specific coverages and restrictions.

How to cancel GEICO Insurance?

Are you planning to cancel your GEICO auto insurance policy? Perhaps you sold your automobile or are simply looking to switch after seeing your GEICO premium go up. Whatever the reason, be sure you are aware of GEICO’s cancellation policies and take the necessary measures to end your coverage before you cancel. Before attempting to cancel your GEICO policy, you must first take into account a number of factors. This is because faulty or insufficient planning could unintentionally result in a gap in your insurance, which is something you do not want to happen. But no worries, we’ve got your back and are here with few simple steps to cancel your GEICO policy:

Cancel GEICO auto insurance using your phone

Only phone cancellations are permitted with GEICO. The phone line is accessible every day of the week, round-the-clock. It only takes a few minutes and a few simple steps to cancel your GEICO auto insurance. Even though every insurance provider is unique, GEICO offers a straightforward procedure without charging a cancellation charge. You must contact to talk with a licenced representative and have your GEICO policy number on hand in order to cancel your insurance. To cancel your GEICO auto insurance, follow these instructions:

  • Please call (800) 841-1587 from a phone.
  • Request to speak with a certified GEICO agent.
  • A system that uses interactive voice response (IVR) may ask you to talk (IVR).
  • Say “Cancel insurance policy” loudly and then say “Auto” or “Car.”
  • You can be asked for your GEICO policy number, so keep it handy just in case.

Here you go, your GEICO auto insurance policy cancellation will be executed.

Cancel GEICO auto insurance online

Regrettably, there is no option like cancelling GEICO policy online. There isn’t a method to cancel your GEICO auto insurance coverage online right now. The only way to cancel your coverage as of now is to call the number provided above. Despite this, you shouldn’t worry because the procedure is simple. You are unable to cancel your auto insurance online at this time with GEICO’s existing functionality. To cancel your GEICO auto insurance, you must call the provided toll free number (800) 841-1587 and then either speak with an agent or follow the automated feature’s instructions.

Does GEICO charge cancellation fee?

GEICO does not charge for a cancellation fee.

When you decide to terminate your insurance coverage, there won’t be a GEICO cancellation charge to pay. Once you contact to cancel, the next steps are rather easy. You just need to speak to their licensed agent as described above. Your insurance will be cancelled immediately if you speak to their licensed representative as described above. You have the option to either quickly cancel your insurance at any moment or select a future cancellation date.

Will I owe money if I cancel, or will I get a refund?

Depending on how you are doing with the policy payments, you may be eligible for a refund or may still owe money to GEICO. You might be eligible for a refund if certain circumstances are met. For instance, GEICO will refund the unused portion of your premium if you have previously paid the full amount up front. You won’t probably owe any money if all of your payments are current. However, you will have to pay the outstanding balance in full before cancelling your policy if you have any past-due payments or have just added a new car to your policy.

Do I have to submit any further details?

GEICO may request proof of the following, if needed by state law:

  • Your forfeited ownership of your licence plate to the state department of motor vehicles
  • Proof that you have sold your car
  • New insurance policy obtained

If you don’t provide this information, the cancellation may be delayed, and you’ll be charged for the extra coverage.

Can I have my coverage cancelled by someone else?

The policy can only be cancelled by the policyholder. GEICO won’t let anybody else terminate the coverage unless they have the policyholder’s power of attorney.

Reasons for Cancellation of GEICO auto Insurance

You should consider about a few factors to make sure cancelling your insurance is the wisest course of action before doing so. The following situations justify keeping your GEICO policy:

  • Your car has either been sold or is no longer fit to drive.

Your GEICO insurance might protect you while operating a rental car if you’ll be without a car for 30 days or fewer. Your employment, discounts, and benefits will continue into your next vehicle. If you borrow or rent a car, you may also be covered for damage to another vehicle under non-owner insurance.

  • You are storing your car for a period of time longer than 30 days.

In the event of theft or other damage, GEICO provides discounted insurance for automobiles that are stored. To find out more, give them a call at (800) 841-1587.

  • You’ve relocated to a different state

You can just take your policy with you. In addition to DC, GEICO provides insurance in all 50 states. For the state you are moving to, quickly obtain a quote online. To begin a new quotation, sign into your account, navigate to the menu, and choose “My Policy Details.”

  • Your marital status has changed.

Simply include or exclude your spouse or partner. Either way, you might be able to get further savings. If they have a car and you’re getting married, you might be able to save a lot of money with their multi-vehicle discount. Online or in GEICO Mobile, modifications are easily made.

  • You are unable to afford auto insurance.

By include discounts in your policy or changing your coverage, you can reduce the cost of your auto insurance. To find out what additional discounts you are eligible for, you can also log into your account online, navigate to the menu, and choose “Discounts & Special Offers.” You can modify your policy by going to “My Policy Details.”

  • You want a provider that offers many kinds of insurance.

The GEICO Insurance Agency makes it simple to acquire a quotation for homeowners, renters, and many other types of insurance. You can even qualify for a Multi-Policy Discount on your auto insurance if you combine all of your coverages.

  • You discovered a more affordable deal elsewhere.

There are several discounts available that could lower the cost of your auto insurance. Once you’ve confirmed that GEICO is offering the most discounts, make sure you’re comparing it to a policy from a different provider that offers the same coverage, deductibles, and benefits as your current policy.

If any of the above mentioned reasons apply to you than you must call the GEICO helpline number (800) 841-1587 so that they can help you modify your policy according to your needs.

See: How to Get an Affordable Life Insurance?

Things to keep in mind while cancelling your auto insurance

Be familiar with state law

Almost all states demand auto insurance in order to register or plate your vehicle. Before you get in touch with your insurance provider to cancel your coverage, be sure you are aware of the legal requirements in your state.

State laws differ regarding the repercussions of operating a vehicle without enough insurance, however a lapse in coverage could put you at danger of:

  • License suspension for drivers
  • Fines
  • Suspension of registration
  • Mandatory SR-22 insurance filing

Before canceling your current policy, purchase a new one

Even a one-day pause can be expensive. Without initially procuring a replacement auto insurance policy, you run the risk of:

  1. Responsibility for property damage and bodily injury brought on by an accident at fault
  2. When you enroll, your future costs will be higher.
  3. If you have a history of insurance lapses, you’ll probably be viewed as a high-risk driver and be subject to higher rates all around.

Inform the organization about cancellation

Not only is it wise to let your insurer know that you intend to cancel, but it can also cost you money if you let a policy lapse. Your policy can automatically renew, you’ll keep getting insurance invoices, and eventually your account will be recorded as unpaid. Your carrier will keep sending invoices if you don’t let them know, and they’ll probably be followed up by calls or letters. That will ultimately stop, but the insurance may classify the account as unpaid and notify the credit reporting bureaus of this. Future auto insurance premiums may also be higher for you.

Consider suspending your policy

Maybe you could just suspend your coverage instead of cancelling it if you plan not driving your car for the next month or two. Let’s say, for instance, that you are planning a two-month trip abroad. Because you believe it would be wasteful to pay for the two months that you won’t be using your automobile, you want to terminate your insurance coverage.

You can speak with GEICO representatives and explain your circumstances rather than simply cancelling. They might offer to temporarily halt it while you’re not driving, then resume once you’re back on the road.

Final Tip:

GEICO’s vehicle insurance cancellation is an easy and cost-free process. Make sure to look around for other policies if you’re thinking of cancelling to avoid a gap in coverage.

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