How to Cancel Geico Insurance

Geico policy no longer cutting it? Just because that gecko says it's a good deal doesn't mean the insurer's coverage is right for you.

Whether you've found a policy that better fits your needs and budget, or you just want to join up with a family member or partner on theirs, it's simple enough to cancel Geico insurance.

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.

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 2023 FinanceBuzz survey found that most auto insurance policyholders don't know they can request a refund. Knowing what you're entitled to before you cancel is important.

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

Prepare for cancelling your 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.

There are plenty of online insurance marketplaces out there that can help you turn up better deals, but FinanceBuzz also offers this service for you when you're ready.

So that you can better compare policies, work 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.

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.

FAQs

Bottom line

As one might expect from a company fronted by such a friendly lizard, Geico makes it relatively painless to cancel your insurance, auto or otherwise.

But don't cancel your Geico insurance without having a plan for ensuring that you maintain uninterrupted coverage. That makes choosing your end date especially important. Make sure you've secured new coverage that overlaps with the finals days of your time with Geico to avoid any time uninsured.

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.