Geico, a heavyweight in the insurance arena, stands tall as one of the largest and most favored companies in the United States.
Their offerings span a wide spectrum, covering auto, home, renters, motorcycle, and various other insurance types. Yet, there are occasions when parting ways with your Geico insurance becomes a consideration.
Whether it’s a shift to a new provider, selling your vehicle, or a relocation to a different state, there are various reasons for contemplating a cancellation.
In this guide, we’ll walk you through the steps of canceling your Geico insurance, shedding light on associated fees and timelines.
Reasons for Cancelling Geico Insurance
There are many possible reasons why you might want to cancel your Geico insurance policy. Some of the most common ones are:
- You found a better deal with another insurance company that offers lower rates, better coverage, or more discounts.
- You are unhappy with Geico’s customer service, claims process, or policy features.
- You no longer need the type of insurance that Geico provides, such as auto insurance if you sold your car, or renters insurance if you bought a house.
- You are moving to a different state where Geico does not operate, or where the insurance requirements are different.
- You are experiencing financial difficulties and cannot afford to pay your Geico premiums.
Whatever your reason for cancelling Geico insurance, you should always compare your options and weigh the pros and cons before making a final decision. You should also read your policy carefully and understand the terms and conditions of cancellation.
Geico Insurance Cancellation Fees
One of the factors that you should consider before cancelling Geico insurance is the cancellation fee. Geico does not charge a flat cancellation fee, but rather calculates the amount based on the remaining time left on your policy and the state where you live. The cancellation fee can range from $0 to $50, depending on your situation.
To find out how much you will have to pay to cancel your Geico insurance, you can contact Geico’s customer service at 1-800-841-1587, or log in to your online account and request a quote. You can also use an online cancellation fee calculator to estimate the amount.
Credit ; Freepik
Geico Insurance Cancellation Timeline
Another factor that you should consider before cancelling Geico insurance is the cancellation timeline.
Geico allows you to cancel your policy at any time, but you should give them at least 48 hours notice before your desired cancellation date. This will ensure that your cancellation request is processed in time and that you do not incur any additional charges or penalties.
You should also keep in mind that cancelling your Geico insurance does not mean that you will receive an immediate refund for any unused premiums.
Geico will issue a refund within 4 to 6 weeks after your cancellation date, depending on your payment method and state regulations. You can check the status of your refund by contacting Geico’s customer service or logging in to your online account.
Geico Online Cancellation Process
One of the easiest and fastest ways to cancel your Geico insurance is to do it online. You can follow these steps to cancel your Geico insurance online:
- Log in to your Geico online account using your username and password.
- Click on the “Policy” tab and select the policy that you want to cancel.
- Click on the “Cancel Policy” button and follow the instructions on the screen.
- Confirm your cancellation request and provide a reason for cancelling.
- Review the cancellation details and fees, and agree to the terms and conditions.
- Submit your cancellation request and receive a confirmation email.
Geico Phone Cancellation Procedure
Call Geico’s customer service at 1-800-841-1587 and provide your policy number and personal information.
Tell the representative that you want to cancel your policy and provide a reason for cancelling.
Ask the representative to explain the cancellation details and fees, and confirm that you agree to them.
Provide your payment information if you have a balance due or if you are eligible for a refund.
Receive a confirmation number and email for your cancellation request.
Geico Email Cancellation Template
Another way to cancel your Geico insurance is to do it by email. You can use this template to cancel your Geico insurance by email:
Subject: Policy Cancellation Request
Dear Geico,
I am writing to request the cancellation of my Geico insurance policy, effective (date). My policy number is (number) and my personal information is as follows:
Name: (name) Address: (address) Phone: (phone) Email: (email)
The reason for cancelling my policy is (reason).
Please confirm the cancellation of my policy and the amount of the cancellation fee and refund, if any. Please also send me a confirmation email and a cancellation letter for my records.
Thank you for your service and cooperation.
Sincerely, (name)
Alternatives of Geico insurance
Clearcover: Clearcover is a digital insurance company that offers personalized and affordable auto insurance. Clearcover uses smart technology and data to provide you with the coverage you need and save you money. You can get a quote, buy a policy, file a claim, and manage your account all through the Clearcover app.
Buckle: Buckle isn’t your typical insurance company—it’s got your back, especially if you’re a gig worker like a rideshare or delivery driver.
With Buckle, you get top-notch auto insurance that’s not only comprehensive but also flexible, covering both personal and work-related use of your vehicle.
Plus, you can score some extra savings by bundling your auto insurance with renters or homeowners insurance. Buckle’s got you covered, no matter where the gig takes you!
Gabi: Meet Gabi, your go-to insurance comparison wingman! Whether you’re looking for the best rates and coverage for your auto, home, renters, or life insurance, Gabi’s got your back.
Using the magic of artificial intelligence and your existing policy details, Gabi scours through quotes from over 40 top-notch insurance companies.
And the best part? You can seamlessly switch to a new policy either online or with the guidance of one of Gabi’s licensed agents. Finding the right coverage has never been so easy!
Considerations and Implications
The coverage gap: If you cancel your Geico insurance without having a new policy in place, you might face a coverage gap that could expose you to legal and financial risks.
Driving without insurance is illegal in most states and could result in fines, penalties, or even jail time. You could also be liable for any damages or injuries that you cause in an accident.
Therefore, you should always make sure that you have a new policy ready before you cancel your old one.
The loss of loyalty benefits: If you have been a loyal customer of Geico for a long time, you might lose some of the benefits that you have earned over the years, such as discounts, rewards, or perks.
You might also lose your eligibility for some of the special programs that Geico offers, such as the Accident Forgiveness, the Good Driver Discount, or the Military Discount.
You should weigh the value of these benefits against the potential savings that you might get from switching to a new provider.
The impact on your credit score: If you cancel your Geico insurance and have a balance due, you should pay it off as soon as possible to avoid any negative impact on your credit score.
Geico might report your unpaid balance to the credit bureaus, which could lower your credit score and affect your ability to get loans, mortgages, or credit cards in the future.
You should also check your credit report regularly to make sure that there are no errors or discrepancies related to your Geico account.
Geico company basic information
| Category | Contact Information |
|---|---|
| Phone Number | – General Customer Service: 1-800-841-1587 |
| – Insurance Type-specific Numbers (Auto, Home, Renters, Motorcycle, etc.): Available on Geico’s website or policy documents | |
| Address | – Headquarters: Chevy Chase, Maryland, United States |
| – Mailing Address: GEICO Insurance, Chevy Chase, Maryland, United States | |
| – Local Agent Address: Available on Geico’s website or policy documents | |
| Customer Service | – Chat: Available on Geico’s website or Geico Mobile app |
| – Email: Online form on Geico’s website or direct email at [email protected] | |
| – Twitter/Facebook: Direct message to Geico | |
| – Local Agent: Visit or call for personalized service and advice | |
| Policy Details | – Online Management: Geico’s website or Geico Mobile app |
| – Accessible Information: Policy documents, ID cards, declarations page, coverage details, payment history, etc. | |
| – Policy Changes: Add/remove a vehicle, update address, change payment method, etc. | |
| – Additional Actions: Request a quote, renew or cancel policy online or through the app | |
| Email Address | – Online Form: Available on Geico’s website with topic and category selection |
| – Direct Email: [email protected] | |
| Fax Number | – Obtain from Geico agent: Contact via chat, phone, email, or local agent for the appropriate fax number |
| – Include Policy/Claim Number: Mandatory on every faxed page | |
| Operating Hours | – General Customer Service: 24/7 availability |
| – Specific Services: Check hours for roadside assistance, glass claims, local agents on Geico’s website or documents |