Geico Corporation Complaint - Misleading policy coverage
When signing up for Geico Auto Insurance coverage, the policy information is misleading, which ultimately caused me to choose the wrong coverage and pay out-of-pocket when I was a victim of a hit and run.
Uninsured Motorist coverage vs. Collision coverage
Geico will not allow both uninsured motorist coverage and collision coverage simultaneously - this is fine, because it prevents unscrupulous clients from trying to claim twice on the same incident. However, the big issue I have is that the uninsured description is misleading, to say the least. The description on Geico's website for the uninsured coverage is:
"Uninsured Mororist Property Damage pays for damage to your vehicle caused by an uninsured driver or in many cases, a hit-and-run driver. There are a number of common exclusions to this coverage that will be detailed in your policy"
On the other hand, the description hidden in the policy is:
"Uninsured Motorist Property Damage Uninsured Motorist Property Damage pays damages you are legally entitled to recover because of damage to your insured vehicle caused by uninsured motorists. There is no coverage if the owner or operator of the uninsured motor vehicle cannot be indentified or the vehicle cannot be identified by license number. This coverage will pay a maximum limit of $3,500 for any single accident. "
Let me ask you this - how many hit-and-run drivers are found? I would confidently wager that it is not any kind of majority; therefore, how can Geico say that "many" or "most" (depending on which part of the site you are looking at the description) hit-and-runs are covered? Had I understood this in the beginning, I would easily have chosen the COLLISION coverage over the uninsured motorist / uninsured property coverage. I've been wasting my money assuming that my beloved BMW was covered for any damage, caused by myself or anyone else, and I am crushed today to find out that this was not the case. I feel as though I've been paying my dues for literally nothing.