Canceling your insurance

[bigb56]

This was resolved on the first page, post #13

[RTegarini]

Originally Posted by desuhu

I'm betting if you didn't pay your premium to renew and you had a claim in the first 30 days after the expiration period, they would deny the claim. Most insurance companies do not give you a 30 day grace period anymore.

I live in California and my motorhome insurance is thru GEICO. Based on the question and answers in this tread, I decided to call GEICO.

The rep told me they are regulated thru the state as to what they can and cannot do. She explained to me that 15 days AFTER the final expiration date of the policy, the policy would be cancelled by them, going back to the original expiration date. There is in fact a 15 day grace period and that time frame is set by state regulations. Whether you have been a policy holder for six months, or sixteen years, both get the set 15 days grace period, nothing more, nothing less.

Calling them helped me determine which posts here are most accurate as I just didn't think that instant termination after your policy expiration date would be correct. -RT

[inkahauts]

Originally Posted by RTegarini

I live in California and my motorhome insurance is thru GEICO. Based on the question and answers in this tread, I decided to call GEICO.

The rep told me they are regulated thru the state as to what they can and cannot do. She explained to me that 15 days AFTER the final expiration date of the policy, the policy would be cancelled by them, going back to the original expiration date. There is in fact a 15 day grace period and that time frame is set by state regulations. Whether you have been a policy holder for six months, or sixteen years, both get the set 15 days grace period, nothing more, nothing less.

Calling them helped me determine which posts here are most accurate as I just didn't think that instant termination after your policy expiration date would be correct. -RT

To be clear though, just because you have a grace period does not mean they can charge you for that grace period if you do not renew with them.

[RTegarini]

Originally Posted by inkahauts

To be clear though, just because you have a grace period does not mean they can charge you for that grace period if you do not renew with them.

Correct. That’s probably why the rep told me the policy would be cancelled back to the original expiration date. -RT

[F4Gary]

Originally Posted by bigb56

This was resolved on the first page, post #13

Proof positive that no one actually reads these threads, they read the first post, get outraged, and start typing.


Old Biscut excepted.

[RTegarini]

Originally Posted by F4Gary

(Post number 47) Proof positive that no one actually reads these threads, they read the first post, get outraged, and start typing.

Old Biscut excepted.

Or maybe it’s proof that an initial question leads to other questions from other members. Does it mean that no further answers should be posted after say the first ten posts? No one here is forced to make a comment in any thread, they do so to help one or more members with one or more questions that have come up and if we get bored with one thread, we can just move on to the next one.

(Sorry… I guess I’m not finding the one that someone got outraged, and started typing.) -RT

[NXR]

One thing missing from this discussion is "It depends."

Insurance is a state-regulated industry, not federal. 50 states = 50 different sets of rules. While there are model legislation examples written by a national organization to encourage harmonization, no state is legally bound to implement all of them, part of them, or any of them.

For example, in Ohio, the state mandates a 30 day grace period on a life insurance policy if you miss the deadline. You can renew in that 30 days without penalty (I used to be licensed in Ohio for life and heath insurance).

Other states may or may not have the same or similar provisions as have been mentioned here.

Ray