Geico Corporation Complaint - What GEICO won't tell you if one of their insured drivers hits you
PG, UTAH -- Someone insured with Geico hit my daughter's car. The other driver admitted fault to the officer on the scene and to Geico. Geico decided our car was a 'total loss'. They paid us about half what the car is worth. They withheld a lot of information from us in order to save themselves money. The claims department representative was extremely unhelpful. I only got the information I needed when I called the adjuster directly.
IF GEICO TOTALS YOUR CAR they will decide the value, not you. If I was selling my car on the open market, I certainly would have gotten more for it than Geico paid me.
IF YOU ARE GETTING A RENTAL CAR PAID FOR BY GEICO do it right away! Don't delay for even a day. They will only pay for the car from the time of the accident until 'three days past settlement'. 'Settlement', in their definition, is when they send you the first check, even if the amount is still in dispute and they plan on sending you a second check. They want to send you a check for the amount that is undisputed, and they want to send it as quickly as possible, so then they can quit paying for the rental car. Three days is not enough to get your car fixed, and it is not enough time to go out and buy a new car. DON'T ACCEPT ANY CHECKS AT ALL UNTIL YOU HAVE REACHED A FINAL SETTLEMENT!
If they had told us a rental car was available right away, we would have gotten one sooner and then we would have had it for a couple weeks - long enough to repair the extensive damage to our car or to shop for a new one. Of course, it is not in their best interest to tell you a rental is available until after it's too late to take advantage of one.
ALSO: BE AWARE that rental car companies count their 'days' on a 24-hour period while Geico counts calendar days. If Geico is 'totaling' your car, they will pay for 'FIVE' days of a car rental. We picked up a rental car on Monday evening and Geico counted that as day One! They would only pay until Friday. That only gave us 3.5 actual days to get the car fixed which was not enough time. When I called the adjuster directly, he finally authorized a few more days.
IF YOU ARE DISPUTING THE AMOUNT OF THE LOSS you will need to spend quite a bit of time researching comparables. You will need to find other cars in your area that are the same make and model as your car, and that are in the same condition. That's going to be very tough for us because we had just put a new transmission in our car. That $2K is now wasted because one of their insured drivers hit our car and there are hardly any comparables with new transmissions. MAKE SURE YOU KEEP ALL RECEIPTS FOR WORK DONE ON YOUR CAR so that you can produce them if someone hits you. Geico gave us only $150 credit for the new transmission. We are going to have to take them or the driver to court over this. I think that's sad.