Geico Charged extra 43% of my monthly premium when I cancelled my policy on the 5th day of the monthly coverage cycle. Charlotte North Carolina

My insurance with Geico renewed every month on 21th. At the 26th of June I cancelled my policy with them and switched to another insurance company. My monthly premium is about $100, for providing just 5 days of coverage (15%), Geico charged me about $60 and told me because state of North Carolina allow them to charge short rate instead of pro rate, the penalty $40-50 on my cancellation is legitimate. I hereby comlained against Geico for:

(1) Failure to consent customer about the extra charge. I have called Geico regarding the cancellation before that took effective, no one mentioned that GEICO, unlike other insurance provider in this state, will take advantage of the short rate and billed me more than the pro rate. In addition GEICO failed to consent information regarding their special cancellation policy while I firstly signed up the policy 1.5 yrs ago.

For others who lives in North Carolina and uses GEICO service, please be aware of the rip-off customer cancellation policy of this company, you should expected a 40% arround short rate penalty if you cancelled your policy with them in the middle of the month. Actually there are other people reporting same experience on this website.