What Happens When an Insurance Company Totals Your Car in Charlotte

What to Expect From the Total Loss Process for Charlotte Drivers

If you are considering buying a car in North Carolina, it would be good to know what happens when an insurance company, like Geico, decides to take an old car that's at least a few years old out of your insurance policy. It would also be nice to know how you could benefit if you get into an accident with someone driving an older vehicle.

For instance, in Charlotte, Geico offers a discount to consumers who have four or more years of coverage, but a previous vehicle in their insurance policy. In order to qualify for this discount, you must present Geico with proof that you bought the car, and that you have an existing policy that has not yet expired.

However, sometimes it is not enough to have the car in question insured by Geico. Sometimes the Geico will ask the driver if they have any other policies to show. If you have other policies, you will have to decide if you want to stay with Geico, or move to another company.

You can also change your auto insurance if you purchase another policy with Geico, if you reside in one of the cities in which they have their offices. If you live in Charlotte, the main office is located in the Bank of America building at 400 Lumberman Boulevard.

If you live in these cities, you might consider moving to a company that does not offer Geico. Just be sure to look at the rates and see what the difference in coverage between different companies would be.

If you still have insurance with Geico, you can cancel the coverage. However, the fees you pay for the cancellation and the company fee you have to pay, vary from state to state. Your lender may have a limited number of choices for Geico to continue to service your loans, and you will have to pay your bill and file a written request for termination. If your loan company is willing to terminate your policy, your lender will notify you and the company will cease to serve you.

If Geico has taken out another policy for you, there will be a specific period of time during which you can apply for alternative insurance. However, you cannot continue coverage with Geico if you choose to do so.

You can easily cancel your policy with Geico, by calling the toll free number on the back of your policy. If you have any questions, you can also speak to a representative of the company.

If Geico has taken out a second policy for you, after canceling your current one, you have 30 days to prove to the company that you do not want to cancel your coverage. If you give them a written document stating that you do not want to cancel your policy, the company will accept the cancellation.

If Geico has taken out a new policy for you, but you want to cancel the one with them, you must mail the cancellation request to the address on the back of your original policy. If you do not have this document, you should not cancel your coverage until you do get it.

It is very important that you make your Geico policy and cancel the old one with the company before the insurance coverage expires. You can find out how to get the coverage you need, and how to cancel your current policy, online at the website of NC Auto Insurance Review.

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