Overhaulin'

Geico Car Insurance Refund.?

My uncle purchase a car insurance on April 13th, 2010. Now he does not want to keep his car or his insurance anymore, can we get a full refund for two payments of Geico?

Public Comments

1. Once the car has been sold they should issue you a refund for any over payment you may have made.
2. You cannot get a refund for the time you have been insured. If you paid for the future, you can get a refund for that. I suspect though that you are paying monthly. Often paying monthly is considered a one year loan payable in monthly installments and if this is the case you are SOL. Yet another reason to never pay for insurance monthly !
3. You can get a prorated refund based on the amount of time remaining on the policy, but they won't give you a refund retroactively.
4. the policy should be cancelled as of the date the vehicle is sold, and any unused portion of the monies paid will be refunded to the policyholder.It wll take about 30 days. he had the car and needed insurance, so he must pay for that time, but no more.
5. Not likely. When he purchased it on 4/13 I assume he made a payment then, and is paying monthly. That means a payment is due June13, just a few days from now. When he cancels he won't need to make any more payments, but it's unlikely there will be a refund. In fact there may be a cancellation charge due.