A Guide to GEICO Policy Renewal
Your GEICO insurance policy will automatically renew—but that might not be your best option. We’ve got the details here.
Written by Macy Fouse
Reviewed by Jessica Barrett
Before your
GEICO
policy renews, you’ll receive a notice informing you of your updated policy renewal rate and any changes made to your policy. If everything on your notice looks good, you’re all set—your GEICO policy will renew automatically.Most car insurance policies are either six or 12 months long, and it can be a hassle to go through the process of renewing your coverage that often. Luckily, most car insurance companies—including GEICO—have automatic renewal, so you don’t have to lift a finger to keep your coverage. But is that always the best route?
Before you let your
car insurance
renew automatically, read this quick guide to learn all you need to know about GEICO policy renewal—and reasons why renewing may not be the way to go.How do you renew your GEICO car insurance policy?
About one month before your GEICO auto insurance policy will expire, you’ll receive either a letter or email notice of any updates to your policy, including your renewal rate. If everything looks good on this notice, your GEICO policy should automatically renew with your new premium without you having to lift a finger. That said, some states require policyholders to sign certain documents before the policy can be renewed.
If you aren’t happy with your new policy changes, your rate increases, or you find a better rate elsewhere, you’ll need to call (800) 841-1587 to cancel your car insurance coverage with GEICO. You can choose to use their automated system or speak with one of their live insurance agents—just make sure you have your policy number handy.
Just because your GEICO policy was the best option at the beginning of your coverage period doesn’t mean it’s still your best option. Your policy renewal is the perfect opportunity to shop around for car insurance quotes from other insurance companies, because you may find a lower rate elsewhere. The simplest way to do this is to use an online broker or
insurance comparison app
that compares rates from multiple providers. After all, experts suggest shopping for car insurance policies every six months!RECOMMENDED
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When do you need to renew your auto insurance?
With GEICO, you don’t need to do anything to renew your auto insurance. You’ll receive the renewal notice in the mail about one month before your current policy expires. This notice is less to warn you of the expiration date and more to inform you of any changes in your coverage or insurance premiums before the automatic renewal.
Other major insurance providers like
Progressive
, Allstate
, and State Farm
may have slightly different auto-renewal policies, but nearly all major companies have similar protocols for the renewal process.What happens if you don’t renew your car insurance policy with GEICO?
Since GEICO car insurance policies renew automatically, you don’t have to worry about renewing to avoid a
lapse in coverage
—which is a good thing, since that can lead to higher auto insurance rates. But you’ll want to make sure you keep an eye out for that renewal notice before the automatic renewal to ensure your new car insurance premium won’t break your budget.If you don’t want your policy to renew, you’ll want to make sure you
cancel your GEICO insurance
before the renewal date to make it easier. That being said, you can generally cancel your policy at any time during your coverage period without a cancellation fee.Will my GEICO car insurance rates change when I renew?
It’s certainly a possibility—but it could also decrease! Your GEICO
determines your premium
based on dozens of factors, and it’s certain to increase in the following situations:- Your credit score has dropped
- You’ve changed your deductible amount
- You’ve increased your coverage limits
Your rates can also be impacted by factors like getting a
new car
, moving to another area, or even changes in your insurance discount eligibility. Outside factors can also influence your car insurance rates, like crime rates, weather patterns, or economic conditions.If your GEICO rate increases significantly, you can call customer service at (800) 207-7847 or chat with a virtual assistant about your policy on the GEICO mobile app.
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Do GEICO insurance policies automatically renew?
Yes. GEICO sends a renewal notice and payment schedule before each policy renewal.
Does GEICO have a grace period for auto insurance renewal?
If you can’t make your first payment at your renewed rate, you may be eligible for payment postponement in some cases. GEICO has a nine-day
grace period
for late payments, so your policy won’t be canceled if you can make your payment before then. They’ll send you a notice before canceling your policy, though.Are you overpaying for car insurance?
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