GEICO overcharged NJ drivers — are you owed money?
💸 GEICO is returning more than $10.5 million in overcharged premiums to New Jersey policyholders following a state investigation.
🚗 Investigators found improper practices affecting more than 15,000 policyholders. GEICO and its affiliates face a $1.2 million penalty.
📝 Think you were overcharged? Ask GEICO to review your policy and contact New Jersey insurance regulators for help.
Paying your car insurance bill is painful enough. Paying more than your insurance company was allowed to charge you?
That deserves an explanation — and your money back.
New Jersey insurance regulators say GEICO is returning more than $10.5 million in improperly charged premiums following an investigation that uncovered problems affecting more than 15,000 policyholders.
The state also imposed a separate $1.2 million penalty against GEICO and its affiliates.
Why New Jersey fined GEICO
The investigation began in September 2024 after consumers complained. Examiners reviewed company activity from June 2023 through May 2024.
According to the Department of Banking and Insurance, the problems included charging rates above those approved by regulators, improperly canceling policies, leaving required language out of notices that could lead to nonrenewal, and failing to explain rights to customers who kept vehicles declared a total loss.
The state’s examination also found costly mistakes involving accident forgiveness. In one category, 4,662 policies were incorrectly transferred between GEICO companies. Those errors generated approximately $6.74 million in refunds or credits after examiners intervened.
How to check for a GEICO refund
GEICO began voluntarily issuing refunds during the examination as errors were identified, according to the state.
The announcement does not provide a separate refund application or a universal payment deadline. It also does not say every New Jersey GEICO customer qualifies.
If you suspect your policy was affected, contact GEICO and request a review. Ask whether your account was included in the examination findings, whether a refund or credit was issued, and how the amount was calculated.
Check your billing statements and correspondence so you can identify any adjustment already applied.
GEICO spokesman Michael Young told the New Jersey Monitor the company has taken steps to address the department’s recommendations and recently lowered rates in New Jersey.
How to file a New Jersey insurance complaint
Still have questions? You can file a written complaint through the Department of Banking and Insurance’s consumer assistance page.
Include the insurer’s name, your policy number, a brief explanation and supporting records. The department specifically requests relevant documents such as declarations pages, premium increase notices and nonrenewal notices.
For questions or help filing, call 800-446-7467 or 609-292-7272, weekdays from 8:30 a.m. to 5 p.m.
Formal insurance complaints must be submitted in writing, including through the online system.
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