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Truck insurance

I have a question: Has anyone every set up a(n) automatic withdraw per month to pay their vehicle insurance and it has not come out for that month?

***I have GEICO and I set up the automatic withdraw once monthly to pay for my vehicle insurance. Well.............the first payment never came out last week. And, the 2nd payment is due in a week. I am going to call them but, I wanted to make sure its not just me. The lady even read back my card information to me when I set it up 2 weeks ago....
I am behind on my loan payments for our vehicle. Could this affect vehicle insurance though? I have not heard of this but, was wondering.

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CandyHorse

Asked by CandyHorse at 7:31 PM on Mar. 1, 2011 in Money & Work

Level 17 (4,309 Credits)
Answers (5)
  • I have not heard of that causing insurance payments to not be withdrawal from your acct. I would call and see what is going on with the company. Good luck!
    Aries46845

    Answer by Aries46845 at 7:33 PM on Mar. 1, 2011

  • Thank you!
    CandyHorse

    Comment by CandyHorse (original poster) at 7:35 PM on Mar. 1, 2011

  • We've never had an issue with it, we've been paying ours automatically for years - and late payments on the vehicle loan (through our bank) have never affected it. But we also don't have Geico. Call them first thing in the morning and ask.
    Anonymous

    Answer by Anonymous at 7:53 PM on Mar. 1, 2011

  • I wouldn't think that your loan payments being behind would affect your Geico payment. I have them as well, and once I had insufficient funds to cover the payment, and it was declined and it came out the next week. Hope this helps. Give them a call!
    lovingmy4babies

    Answer by lovingmy4babies at 7:53 PM on Mar. 1, 2011

  • We have our insurance withdrawn from our bank account every month on the 24th. Even though they say it is taken out on the 24th, it takes about 7 days for it to actually show and clear from our bank. I would call the insurance company to make sure that your payment has posted. If it has then it is probably just taking a while for it to clear at the bank.

    JeremysMom

    Answer by JeremysMom at 9:25 PM on Mar. 1, 2011

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