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 Policy cancelled due to non-payment when I have never missed a payment.
Posted Fri July 30, 2010 8:05 am, by Dana L. written to GEICO - Florida Underwriting
For the past year, I have had insurance through Geico. My bill was always paid on time with no problems as I was set up in the autodraft program. At the end of June, my credit card was stolen so I had to cancel it and get a new one. Geico's autodraft program charged my credit card each month on the 3rd. On July 3rd, I received a call from a Geico representative stating that my credit card had been declined. I immediately went online to change the credit card number to my new, valid credit card. That payment went through with no problem, according to my credit card statement.
However, on July 28th, I received an e-mail stating that my policy is cancelled effective August 8th due to nonpayment. I do not understand how my policy was cancelled due to nonpayment as my bill had been paid on time. I called Geico and they said my autodraft had been cancelled because my stolen credit card was declined. I told the agent on the phone that the representative who originally called me told me to go online and add another credit card to remain in the autodraft program. I did just that; typed in the new credit card number, selected the option for them to charge that card every month, and the payment was taken on the day it was due. But suddenly I am being cancelled for nonpayment?? I still do not understand. The agent I spoke with on the phone said in order to reinstate my policy, I would have to pay another $230 in July on top of the $230 I've already paid.
I would like Geico to know that this is very frustrating. I could understand my policy being cancelled due to nonpayment, except that I PAID THE FULL AMOUNT, ON TIME EVERY MONTH. I did NOT miss a SINGLE PAYMENT, EVER!!
I would like Geico to know that this has lost them $230 a month. I am sure they don't care about that tiny amount in the grand scheme of things -- they have tons of other customers, after all. I have switched to Met Life Insurance for my car, they have better customer service and a far more reasonable rate ($120 a month instead of $230 a month I was paying Geico!) I would definitely not return to Geico even if they rectified this matter. I do not deal with companies that look for every possible way to screw their customers.
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ah the joys of credit cards
good day
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Well, actually, it seems you DID miss a payment.
but it seems dumb of them to cancel because of that one snafu with
your credit card account.
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Wow - $230 a month for car insurance? We pay less than $600 a year for
each of our two cars. Even $120 sounds like a lot unless you are
insuring several cars. We have our insurance with State Farm. You
might want to check with them.
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by Donno Posted Fri July 30, 2010 @ 9:18 AM
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It is unclear if this additional $230 was a
"penalty," or if it was a disputed item that you thought was paid and
they didn't, or perhaps a one month payment they wanted to hold in
escrow in case you missed another payment.
Automatic payments are great, until something changes. They are hard
to cancel in a timely manner, and the bookkeeping between your account
and the company that processes the payments is not as seemless as one
would like. It is possible this could have been resolved.
In any event, it is over now. I too left Geico many, many years ago,
and never looked back. They were charging me almost twice as much my
next company did - same as you.
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SHARED LETTERS 
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