Secrets of Accident Claims Against GEICO REVEALED!
Many accident victims turn to their insurers, expecting fair treatment and a quick resolution. However, when dealing with GEICO, one of the nation’s largest auto insurers, things may not be as straightforward as they seem.
GEICO, short for Government Employees Insurance Company, has been in the business since 1936. With a reputation for affordable rates and memorable commercials, it’s no wonder they insure millions of vehicles across the country.
However, behind the friendly gecko and catchy slogans lies a profit-driven company. Their primary objective? To save money, often at the expense of your rightful claim. Understanding this is the first step in navigating the insurance maze.
If you are pursuing a claim, you may have an unsatisfactory claims experience with GEICO. The company tied for 11th place on the J.D. Power 2020 U.S. Auto Claims Satisfaction Survey. It rated below the industry average and substantially below insurers like State Farm and MetLife.
Here are some strategies GEICO might use to deny or undervalue your claim. Knowing these secrets before filing a car accident claim can ensure you’re better prepared for the fight ahead.
GEICO Wants To Deny Or Undervalue Your Claim if Possible
GEICO isn’t just a large, revenue-driven company; it’s a subsidiary of Berkshire Hathaway with shareholders who want to see ever-rising profits. In 2023, Geico collected $39.2 billion in premiums from its policyholders. Every year from 2008 to 2023, GEICO’s earned premiums have increased, except for a slight dip in 2020.
One of the core tactics employed by GEICO is to minimize payouts. Regardless of how long you’ve been a loyal customer or how many accident-free years you’ve had, when it comes time to file a claim, you are merely a number on their balance sheet. GEICO’s primary goal is to limit payout amounts, sometimes even denying claims outright.
The insurance adjuster might argue that your damages aren’t as severe as claimed, your policy does not cover the accident, or you failed to mitigate damages. Knowing this upfront can help you prepare for the hurdles ahead.
To counteract their attempts to undervalue your claim, ensure you document every detail of the accident and your medical treatments. Keep receipts, take photographs, and maintain a thorough record of all communications with GEICO. This documentation will be crucial if you need to dispute their offer.
You Should Not Give GEICO Access To All of Your Medical Records
After an accident, GEICO may request access to your medical records. While this might seem like a routine request, granting them unrestricted access can backfire. With unrestricted access to your medical records, GEICO can scour a lifetime of personal medical information to argue that your injuries are pre-existing or unrelated to the accident. They will use any information they find to undervalue or deny your claim.
Instead, only provide records directly related to the accident. Consult with a personal injury attorney to determine which documents are necessary. An experienced lawyer can help you avoid inadvertently damaging your claim by over-sharing medical information.
GEICO Cannot Require a Recorded Statement
Another common strategy is the insistence on a recorded statement. GEICO adjusters may claim this is a necessary step in processing your claim. However, you are not legally required to provide a recorded statement. Doing so can be risky, as anything you say can be used against you to deny or reduce your claim.
If you feel compelled to give a statement, have your lawyer present. They can guide you through the process, ensuring your words aren’t used against you.
GEICO May Replace Your Actual Medical Expenses With Lower Values
When you submit proof of your medical expenses, GEICO might replace the actual costs with their own “usual and customary charges.” These charges are often much lower than what you were billed, resulting in a settlement offer that doesn’t fully cover your expenses.
Challenging these valuations is essential. Provide detailed invoices and statements from your healthcare providers to justify your expenses. A car accident attorney can help you present a strong case for the actual costs incurred.
You might also consider getting an independent medical evaluation to counter GEICO’s lowball estimates. This can provide an objective basis for your claims, making it harder for GEICO to dispute your expenses.
Your Initial Settlement Offer Will Be Low
It’s a well-known tactic among insurance companies to start with a low settlement offer. GEICO is no exception. Their initial offer is often much lower than what your claim is worth, banking on your need for quick cash to entice you to settle early.
Rejecting the first offer is often the first step towards a fair settlement. Be prepared to counter their offer with a well-documented demand for a higher amount.
An experienced personal injury attorney can be invaluable during negotiations. They understand GEICO’s tactics and can advocate for a settlement that reflects the true value of your claim.
A Personal Injury Lawyer Can Help With Your GEICO Accident Claim
Do you feel overwhelmed trying to handle your own accident claim with GEICO? Are you being blamed for your accident? A personal injury lawyer can help you throughout the process.
Contact the Car Accident Law Firm of Lawson Personal Injury Attorneys in Lawrenceville for Help Today
For more information, please contact our experienced car accident lawyers at Lawson Personal Injury Attorneys to schedule a free initial consultation today. We have a convenient location in Lawrenceville, GA.
Lawson Personal Injury Attorneys
320 S Perry St, Lawrenceville, GA 30046
(678) 446-3655