On average, you should prepare to wait 2 to 4 weeks for an insurance company to reimburse your premium. Many insurers accept cancellations through several channels, but Geico will only cancel your policy over the phone. This information may be different from what you see when you visit the website of an insurance provider, insurance agency, or insurance company. For example, if you have a Progressive policy, Progressive Insurance has the ability to deliver a premium refund check within seven business days of cancellation, which is quite surprising as far as insurance companies are concerned.
Practicing safe driving habits and avoiding traffic violations can help you qualify for lower insurance rates from Geico in the long term. An expiration in insurance can end up costing you a lot of money and even result in the suspension of your license if you are caught driving without car insurance coverage. Because your credit history is correlated with your likelihood of filing an insurance claim, Geico uses your credit data to calculate your premium in states where it's legal. The mission of The Truth About Insurance is to provide unbiased and objective insurance advice and advice to consumers on a variety of topics, ranging from car insurance coverage to health care and more.
The other insurer may offer you a cheaper rate on car coverage, but your homeowner's insurance outside the package is much higher. If you're looking for cheap car or home insurance, the best thing to do is compare prices and get quotes from several providers. For example, drivers can get a discount of up to 15% if they insure a car that is three years old or younger. Certain states allow insurers like Geico to charge you a reduced rate if you cancel in the middle of the term of your policy.
No matter how hard you try, some relationships just don't work, including relationships with your car insurance company. Expensive cars, sports cars and cars with high theft rates are considered to be riskier to insure than cheaper and more practical vehicles. If you didn't do this step long before your policy was renewed, or even during the middle of the policy term, your old insurer will owe you the amount you overpaid for their “too expensive” insurance. Yes, you can cancel Geico insurance at any time by contacting Geico and canceling your coverage immediately or setting a cancellation date for the future.