Geico won't charge a cancellation when you cancel your Geico auto policy. Some auto insurance companies will, but for now, Geico won't. One very important note to remember: don't cancel your Geico insurance until your new insurance is paid and in effect. Because your credit history is correlated with your likelihood of filing an insurance claim, Geico uses your credit data to calculate your premium in states where it's legal.
Certain states allow insurers like Geico to charge you a reduced rate if you cancel in the middle of the term of your policy. You can reduce your Geico car insurance costs by taking advantage of Geico discounts, opting for a higher deductible and reducing your coverage, among other things.