auto insurance - rate changes with address

[apac]

I've been paying my premium once per year, and I've recently moved. Before moving I got a quote on the new location and my premium is going up $300 (suburb -> city). The payment is due July 1st, and I'm out of my old place on June 31st, so the overlap is really close.

What happens if I pay the premium at the old rate (auto-payment is already scheduled), and then change my address? Will they send me a bill for the difference? I'm insured through Geico.

 

[highland145]

When you change the address, you'll get a bill for the difference.

 

[BoomerD]

This is not at all uncommon. Your rates are indeed determined by where you live. If you try to play the system as you've suggested, you will get a bill for the difference once you change your address.

When we moved from Warshington to Kahleeforneeya, our insurance premiums nearly tripled.

 

[eldorado99]

If you change your address to a false one then you will most likely find yourself uninsured if/when it comes time to make a claim.

 

[preslove]

Moving from FL to TX doubled mine 🙁

 

[shiner]

[Cartman]
As the snow flies
On a cold and gray Chicago mornin'
A poor little baby child is born
In the ghetto
And his mama cries
'cause if there's one thing that she don't need
it's another hungry mouth to feed
In the ghetto
[/Cartman]

 

[waggy]

of course they are going to bill you the difference. why wouldn't they?

 

[DisgruntledVirus]

You will get charged for the correct rate effective the date you moved in. If you pay your current rate, then inform them you moved to a new address then you will get a bill/check for the differnce. The amount due will take into account the payment already made.

If you attempt to keep your old rate after you have moved in (in other words living in your new place, but not letting insurance know) and have a loss, that would be grounds to not cover the loss in addition to cancelling your policy. You could also be charged with insurance fraud. Obviously all that is worse case, but you should know what could happen 🙂


Easiest thing to do: Pay the bill now, call when you move, and let your agent know "I moved to this new address effective this date." Pay the bill when it arrives. Done.

 

[apac]

OK this is what I figured, wasn't sure if there was a loophole I was missing. Thanks.

 

[lupi]

Yes

 

[DrPizza]

You're insane if you're even remotely considering attempting to game the system when insurance is involved. Imagine your car gets stolen from your new driveway July 2. "Claim denied!"