Car insurance is required in most states, but that doesn’t mean you have to pay a premium to get the coverage you need.
It’s important to regularly compare auto insurance quotes from different providers to see if you’re getting the best deal possible. Doing so could help put money back into your pocket.
If you’re ready to switch insurance companies, you’ll need to know how to cancel your current coverage. Here are step-by-step instructions on how to cancel your Geico insurance policy, as well as essential tips to keep in mind when shopping for new insurance.
Geico’s cancellation policy
You may be able to make changes to your Geico policy online, but you’ll typically have to call and talk to a customer service agent if you want to cancel. This isn’t ideal if you’d rather have the option to cancel online, but the process is often quick and hassle-free as long as you get a helpful representative and you’re clear about wanting to cancel.
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.
If you paid your Geico insurance policy ahead of time and you cancel it before the renewal date, you should receive a refund for any unused portion of your policy.
How to cancel your Geico insurance policy
You may be able to simply call Geico to cancel your policy, but there are a few things to consider before canceling your coverage. Going through these steps can help you make sure you aren’t missing any important details before deciding to cancel or negotiate a new policy.
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, it probably makes sense to find another provider that can meet the standards you expect.
But if you want more affordable coverage, you might want to consider talking to a Geico agent before you cancel. Geico may have something to offer you, such as a discount, to 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 what Geico’s competitors offer. Then you have information on the competition’s prices and policies before you call Geico to talk to them about 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. It’s important to review these terms before calling in, so you aren’t surprised by something you didn’t know or didn’t remember. 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.
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.
3. Gather important information
Geico will typically ask you for certain information when you call and want to cancel. This could include your full name and address, phone number, and Geico policy number. Gathering this information before calling in could help speed up the process, so you aren’t scrambling to find your policy number during the call. Your policy number is often located on an insurance card, your insurance contract paperwork, or online in your Geico account.
Using your personal information and policy number, a Geico customer service agent can pull up your account details, including the expiration date for your policy. Remember that you want to have a new car insurance policy already set up and ready to go if you plan to continue owning and driving a vehicle after canceling your Geico policy. This will help ensure you don’t have a lapse in coverage.
A lapse in coverage is a period when you don’t have car insurance, but you still own and drive a vehicle. It’s illegal in most states to not have a minimum amount of car insurance. It could also be financially devastating to get into a car accident if you don’t have any coverage. In addition, insurance providers may see you as more of a risk and raise your rates if you ever have a lapse in coverage.
When switching car insurance policies, it often makes sense to leave a few days where your old and new policies overlap. This can help reduce the risk of a potential lapse in coverage.
4. 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.
You can use this as a negotiating tool when you speak to a Geico agent. Instead of guessing you can find lower prices with another provider, you’re able to quote actual prices from competitors. This kind of information is hard to argue against and could help you lower the rates on your current policy if Geico matches a competing offer or gives you something better.
In addition, researching car insurance rates doesn’t typically take much time or effort. It can take a while if you’re checking individual rates on each car insurance website or speaking with one insurance agent at a time. But if you use an auto insurance comparison site, the process is often quicker and more efficient.
The companies that run these types of websites typically have a quick form to fill out, and then you instantly get loads of insurance rates from top providers in your area. To compare quotes from different providers, check out our list of the best auto insurance companies.
5. Call Geico to cancel
Once you’re ready to chat, call Geico at 1-800-841-1587 to speak with a licensed agent. Keep in mind that this is the number you would call whether you want to cancel or you want to negotiate a better deal on your current Geico policy.
When talking to a Geico agent, remember to be polite but firm about your stance. Customer service agents are typically trained to do their best to hold onto a customer, so they might try to convince you to stay. If you want a better deal, this is where you can leverage the information you’ve gathered about competing insurance providers and their prices.
If you want to cancel, let the agent know. Since you should have already signed up for another car insurance policy (if you’re going to continue owning and driving a vehicle) by now, it’s time to choose a date for when you want your Geico policy to be canceled. The agent can let you know how you’ll receive your cancellation information, whether by mail or email.
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, 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.
This wouldn’t necessarily affect your home insurance coverage in this example, but you would see a rate increase if the discount no longer applies. However, you might be able to get such an affordable deal on car insurance from a new insurer that it’s worth it to break up an insurance bundle and lose a multi-policy discount.
Consider the overall cost of different situations when deciding whether bundling policies makes sense or not financially.
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.
- 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.
Can I cancel Geico insurance online?
Geico insurance doesn’t typically allow policyholders to cancel a policy online, but you can call and speak to a customer service agent if you want to cancel. The number for cancellation requests is 1-800-841-1587. If you reach Geico's interactive voice response system when you call, simply say "cancel insurance policy" to be directed to an agent.
Does Geico refund your money if you cancel?
If you’ve paid your insurance premiums ahead of time and then decide to cancel before your policy period ends, Geico will typically refund you for any unused portion of your policy. Be sure to contact Geico to see how much of a refund you should receive and when you should receive it.
Does Geico charge a cancellation fee?
Geico doesn’t typically charge a cancellation fee if you want to cancel your Geico insurance policy. However, it doesn’t hurt to check your policy’s specific terms and conditions. This can be done by looking over your policy paperwork, checking your online account, or talking to a Geico representative.
Can you pause your insurance with Geico?
It’s possible to pause or suspend your car insurance policy with Geico, though the guidelines may depend on the state where your vehicle is registered. Be sure to call Geico and speak with a customer service representative to see what kinds of plans are available and what the requirements are.
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.