If you have a renters insurance policy with GEICO, you may be wondering how to cancel it. Maybe you are moving out of your rental property, switching to a different insurance company, or no longer need renters insurance. Whatever your reason, canceling your GEICO renters insurance policy is not complicated, but there are some things you need to know before you do it.
In this blog post, we will explain how to cancel GEICO renters insurance in a few simple steps. We will also cover some important factors to consider before canceling your policy, such as the cancellation fee, the refund policy, and the coverage gap.
Things To Consider Before Canceling Your GEICO Renters Insurance Policy
Before you cancel your GEICO renters insurance policy, there are some things you should consider:
– Cancellation fee: GEICO may charge you a cancellation fee for ending your policy before its expiration date. The amount of the fee depends on your state and the length of your policy term. You can check your policy documents or contact GEICO customer service to find out if you have to pay a cancellation fee and how much it is.
– Refund policy: If you have paid your premium in advance, you may be entitled to a refund for the unused portion of your policy. The amount of the refund depends on how much time is left on your policy term and how you paid for it. You can check your policy documents or contact GEICO customer service to find out if you are eligible for a refund and how it will be processed.
– Coverage gap: If you cancel your GEICO renters insurance policy without having a new one in place, you may create a coverage gap. This means that you will not have any protection for your personal belongings or liability in case of a loss or lawsuit. This can expose you to significant financial risks and may also affect your future insurance rates. Therefore, it is advisable to shop around for a new renters insurance policy before canceling your current one.
How To Cancel GEICO Renters Insurance?
If you wish to have your GEICO Renters insurance, you will be required to contact their customer support number. For this, dial the number 1-800-841-1587 and an interactive voice response system will prompt. Then, you just have to say the words “Cancel insurance policy” and if you are canceling your car insurance policy, then you have to say “Auto”.
As you do this, you will be connected to one of their customer support agents who you can talk to and request the cancelation of your GEICO Renters insurance. They will probably ask you for the reason behind your decision, provide them with a valid one and give other details related to your respective insurance that you are canceling whatever the agent asks you to provide.
Finally, they will process your cancelation and your insurance shall be terminated. Make sure to ask them to provide a confirmation call or email which you can keep as proof that your insurance has been canceled so that there are no issues later.
Can I Cancel GEICO Insurance On The App?
The good part is that GEICO Renters also have their own app which you can install on your device and log in to your account where you will easily be able to check and manage the insurances that you have purchased from their company. With this, you will also be able to cancel your GEICO Renters insurance easily.
How To Cancel GEICO Insurance Without Calling?
If you do not wish to make a phone call to GEICO Renters to cancel your account, then you can also use their chat feature for this.
In this case, you will first need to download the official application of GEICO and log in to your account. You will find the live chat feature in it.
Here, you will be able to connect to the agent with whom you can chat and tell them that you want to cancel your GEICO insurance policy that you have taken up from them. They will guide you through the procedure and you will be able to terminate your insurance easily without having to call them over the phone.
Is There A Cancelation Fee For GEICO Renters Insurance?
You will be glad to know that there will not be any kind of cancelation fee charged to you for the cancelation of your insurance from GEICO Renters. You just need to contact their customer support representative and request them to cancel your insurance, they will take care of the rest and you will not be charged any further.
Will GEICO Refund Me If I Cancel The Policy?
Yes, if you have already paid for the further installments of your insurance to GEICO Renters and you decide to cancel the policy without using it for the period you have already paid them for, GEICO will eventually refund you with the amount as per the unused portion of your policy once you cancel your insurance from their company, so you do not need to worry about your money.
How Long Do GEICO Renters Take To Refund Money?
If you have canceled your GEICO Renters insurance policy for which you had already paid ahead of time, and if you are eligible for the refund, you will receive it in your linked account within about six months of the time when you canceled your insurance. The time duration will vary as per several situations but you will eventually have your money refunded.
Canceling your GEICO renters insurance policy is not difficult, but it requires some planning and preparation. You can cancel your policy online or by phone, but make sure you understand the cancellation fee, the refund policy, and the coverage gap implications. You should also compare different renters insurance quotes before switching to a new provider.
We hope this blog post has helped you learn how to cancel GEICO renters insurance in a few simple steps. If you have any questions or comments, please feel free to leave them below.