How to Cancel Geico Auto Insurance in a Few Simple Steps

If you’re a current Geico policyholder, at some point, you may find yourself needing to cancel the policy for various reasons. For example, you may have shopped around and compare quotes from other providers and are ready to switch auto insurance providers. Or, perhaps you’re combining your policy with your partner’s or another family member who is with another provider.

Whatever the reason, canceling a Geico policy involves a few simple steps, like calling customer service and providing the effective date. But to avoid issues or paying more than you need to, here are some essential tips.

Key takeaways

• Geico requires calling a customer service representative when canceling a policy.
• You can cancel your Geico at any time and may receive a refund of any unused portion.
• It would be helpful if you could provide your Geico policy number for reference and your preferred effective date for cancellation.
• If you have more than one Geico policy, you may lose your bundling discount, which can impact the cost of the other policy.

Geico’s cancellation policy

Geico allows you to cancel your insurance policy at any time, making it easy for you to switch insurance providers if you aren’t having the best experience or find a better deal elsewhere. In addition, you rarely have to worry about cancellation fees with Geico, though you may want to check your specific contract to see what its terms and conditions say.

Requesting a refund

If you paid your Geico insurance policy ahead of time and you canceled it before the renewal date, you should receive a refund for any unused portion of your policy.

A recent FinanceBuzz survey found that most auto insurance policyholders don't know they can request a refund. Knowing your rights before you cancel is important.

Review this info before canceling an insurance policy

You can call Geico and take care of the cancellation yourself, but there are a few points to consider before canceling your coverage. Going through these steps can help you make sure you aren’t missing any important details as you cancel an existing policy or negotiate a new one.

1. Consider the reason you’re canceling

Why do you want to cancel your Geico insurance policy? Is the cost too high for the coverage you get? Or has the experience been less than ideal? If you haven’t had the best service interactions with Geico, then finding another provider that can meet the standards you expect may be the best situation.

Ask for a discount first. If you want more affordable coverage, you might consider talking to a Geico agent before you cancel and asking for a review of your premiums. Geico may have something to offer you, such as a discount or change in your deductibles, which can help bring the cost of your policy down and make it more affordable. It’s often in an insurance company’s best interests to hold onto their customers so a competing provider doesn’t get more business.

Keep in mind that you likely want to research Geico’s competitors' offerings so you can compare prices and policies before you call Geico to discuss the cost of your coverage.

2. Review your policy terms

Your current Geico insurance policy has certain terms and conditions that may come up if you decide to cancel. This could include reviewing any possible cancellation fees, your policy’s expiration date, and the types and amounts of coverage you have.

Geico doesn’t generally charge cancellation fees, but it’s always better to check and make sure. Since cancellation fees may exist, it’s often recommended you cancel an insurance policy when it’s about to expire. This will typically help you avoid any fees, and then you can switch to another insurance policy to prevent a lapse in coverage.

3. Do competitor research

If you want to lower your car insurance rates with Geico, it makes sense to research policies and quotes from other car insurance companies before you call in. If you find better prices for the same type of coverage from another provider, it gives you hard evidence that you can leave Geico to get a better deal somewhere else.

Part of this step involves finding out your exact coverage amounts, such as the limits on each type of coverage you have. For example, you might have a Geico auto insurance policy with bodily injury liability limits of $100,000 per person and $300,000 per accident.

Having these numbers in mind can help you find similar coverage from another insurance provider. It can also help you compare prices more accurately between different car insurance companies because you’ll be comparing the same type of coverage and the same coverage limits.

To compare quotes from different providers, check out our list of the best auto insurance companies.

How to cancel your Geico insurance policy

Gieco requires calling the customer service line at 1-800-841-1587 and stating you wish to cancel your policy (you can’t cancel your policy online). You’ll have to first deal with the interactive voice response system, but once you tell it you need to cancel your policy, you’ll automatically be directed to the correct person.

Have your policy number readily available and the end date you're requesting for your current policy. It’s important you maintain insurance coverage through the start of your new policy so there’s no lapse in any of your coverage.

The agent can let you know how you’ll receive your cancellation information, whether by mail or email.

What if you have bundled policies with Geico?

If you have multiple insurance policies with Geico, such as a home and car insurance bundle, you likely qualify for a multi-policy discount on your rates. This is an expected discount for most major insurance providers and something to be aware of if you’re planning on canceling one of your policies.

If you no longer have bundled policies with Geico, then you’ll lose your multi-policy discount. For example, if you cancel your car insurance policy from a homeowners and car insurance bundle, you’re only left with the home insurance policy, which doesn’t count as a bundle. So you wouldn’t qualify for the multi-policy discount anymore.

You would likely see a rate increase for your home policy since the bundled discount no longer applies. Be sure to do the math ahead of time. If you found a great deal and are saving enough on your new auto policy, it could still be worth it to lose the multi-policy discount.

How to be smart about switching car insurance

Here are essential tips to help you learn how to switch car insurance:

• Use an online insurance marketplace: Getting car insurance quotes from top insurers in your area typically takes a few minutes or less from one of these sites, and you can do it from the comfort of your own home. Plus, you have the information all in one place to make the quotes easier to compare. FinanceBuzz offers this service for you when you're ready.
• Compare apples to apples: It’s wise to compare the same types of car insurance coverage when researching insurance policies from different providers. This will help give you more accurate pricing as you look for a new policy.
• Don’t have a lapse in coverage: A lapse in car insurance coverage can raise your car insurance rates and is likely illegal in your state. It’s important to have a day or two of overlapping coverage between your old and new policies when switching insurance companies. This will make sure you can continue driving without a coverage gap.
• Avoid cancellation fees: You may not think your insurance policy has cancellation fees, but it doesn’t hurt to check anyway. If your policy does have cancellation fees, a quick review of the terms and conditions can help you avoid them when switching providers.
• Get a refund on your old policy: It’s common to pay insurance premiums in advance, but what happens to the money you already paid if you cancel your policy before its expiration date? Many insurance companies will offer you a refund on any unused portion of your policy if you decide to cancel early. Talk with an agent from your provider to see how the refund works and when you should receive it.
• Consider your bundling discount: If you cancel a policy that’s part of a bundle, you could lose a multi-policy discount. Calculate how much the discount saves you and how much you could save if you switch insurance providers before you cancel your current policy.

FAQs

Bottom line

If you want to cancel your Geico car insurance policy, remember to take the important steps above before ending your coverage. This includes researching policies and quotes from other providers so you can get a new policy and avoid a lapse in your coverage.

This kind of preparation can help if you want to save money on car insurance and get the coverage you need to comply with state laws.