I am not sure why I am always late paying my Geico auto insurance bill. That is why they have been sending me cancellation notices for nonpayment of premiums for around the last two years. Geico clearly points out in bold letters that your last full day of coverage is the day before the cancellation date. I had been a little stressed about being harassed by a predatory lender who changed interest rate on my daughter’s loan without notice and you know how Dad is stressed whenever his baby girl is freaking out about finances.
As you can see in the cancellation notice below, the date of the snail mail is May 20th. However the car insurance cancellation will only be effected on June 3.
So I have developed this very indolent irresponsible habit of not paying Geico until I receive a cancellation notice. It is very little cost to them to transmit the insurance cancellation notice and I always pay them on the date I receive it.
I monitor my credit histories and credit score online with Equifax, and Nothing adverse has ever been reported to any of the three credit bureaus by Geico. They have mastered economy of scale perhaps more than any other enterprise on the planet and they do not seem to care if you are significantly late paying your premiums as long as you eventually send them the payment in full.
Finally, I should feel extremely guilty for being even a day late paying them considering how well they treated one of my closest relatives. However, one still has to be cautious when dealing with insurance agents who try too hard sell you by making you feel guilty for not taking care of your family as well as you should.