Car is Totaled (Geico)

Sep 19, 2016

  1. masx
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    masx New Member

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    Car is Totaled (New Development, Please help)

    Hi Everyone,

    First time in this scenario, just recently, I was involved in a car accident (2016 Honda Accord EX-L (Full coverage)..Thanks god no one was injured other than myself and of course thankfully no other car was involved (NY No-Fault State). My car has been deemed as Total Loss. I received a letter stating

    -Total Loss Settlement Explanation
    -Breakdown of the vehicle settlement
    -The Net Settlement Amount as the Base Value of the vehicle, plus any applicable fees and adjustments.

    ...which summed up to $28K. My question, will this be the amount I get? because the damage adjuster also threw in 24K number in the mix which I denied over the phone.

    Now, here are the dilemmas:

    1. Damage adjuster took an entire week before going to the storage facility to inspect the car.

    2. After deeming it Total Loss--pushed the storage fees onto me (isn't that against the policy?) I informed the adjuster that fee must be negotiated with the shop not me. I should not have to pay nor will I pay for it.

    3. I have been informed to take all my belonging from the car (which I did 3 days ago)---because IAA or w/e is taking the car. Normal process?

    I have been assigned a Claim Examiner, Auto Damage Adjuster, Salvage Adjuster.

    Now my questions are as follow;

    1. Who will provide me the offer for my car (since it has been deemed as Total Loss)?

    2.The Net Settlement Amount is the Base Value of the vehicle (28K), so how can the auto damage adjuster vaguely throw in 24K? I am a bit confused and lost.

    3. Who (Claim Examiner/Damage Adjuster?) and how do I negotiate the deal to get more money from them? The amount being thrown in the mix of conversation is well below what I paid for.


    Please help with any information you can provide or possibly help with so that I don't fall prey to their low balling scheme.

    Thank you!
     
    Last edited: Oct 4, 2016
    masx, Sep 19, 2016
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  2. INSUREGEEK
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    INSUREGEEK Super Genius

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    It sounds like you're getting $28K if that's what they put in writing to you. In my state they also have to add sales tax to that number, which could be what they mean by "adjustments". Call your adjuster and clarify this.

    The storage facility generally charges a daily fee for every day your car sits on their lot. The insurance pays those fees, so they want IAA to collect your car as soon as possible. It's pretty common for some companies to tell you they're only paying it to a certain date. They'll do that with a rental car they're paying for too....try to get you out of it ASAP.

    That said, I tell my body shop clients to never release the car until they are satisfied with the settlement. Especially when they are the claimant. I'd be more forgiving when you're the insured.

    As far as negotiating a better settlement. Try searching some other threads on this forum. It seems that gets discussed quite often.

    Good Luck!
     
  3. masx
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    masx New Member

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    That's what it seems but now the adjuster saying it was by an error and now waiting for a new quote, hopefully it will be fair amount. Also, I was able to confirm the pre-tax adjustment amount.

    Will do. Need as much resources as available. Thank you for your information.
     
    masx, Sep 21, 2016
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  4. MGBAgency
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    Geico rolled out an Agency force in California, do you happen to have one? They should have an escalation unit that you can speak with. Geico is notorious for "expedited" business practices. Unfortunately it's the cost of low prices. I'd recommend finding a good agent or broker.
     
  5. masx
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    masx New Member

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    So this is what's happening now. They are charging me the storage fees because the shop charged them an unreasonable amount. $100 per day whereas in the area they charge $50. Please help in regards to this? How do I dispute this? shop tells me one thing, they tell me other things..it's back and forth.

    Also the adjuster took 1 week to inspect the car thereby incurring charges on storage fees..which is now being pushed on to me. The adjuster's supervisor told me that by NY State LAW there is a SIX business day period they have to inspect a car? Is that true?
     
    Last edited: Oct 4, 2016
    masx, Oct 4, 2016
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  6. djs
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    djs Super Moderator Moderator

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    I don't understand. Who is charging you storage fees? Normally, the carrier will pay 'reasonable' storage fees but at the same time, if you do things to delay the process, then you can be responsible for the storage fees. They do add up fast.

    Not sure about a six day rule, but not even sure what difference that would make. If the claim was filed in a timely manner, the carrier usually does a decent job of getting the car inspected and if they suspect it will be a total, they move it to their storage lot rather than the body shop.

    What was the breakdown in the process?

    Dan
     
    djs, Oct 5, 2016
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  7. INSUREGEEK
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    INSUREGEEK Super Genius

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    This makes no sense to me. Again, WHO is charging you storage fees?

    Here's how it typically works:
    Car is deemed a Total Loss
    You sign the car over to GEICO
    GEICO sends you a check
    It's up to GEICO to send a truck to collect the car and pay any fees
    ...unless there's something super weird about NY, which is always possible
     
  8. perfect collision
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    perfect collision New Member

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    Is there any law quoting that geico can NOT take off money from the customers settlement? in a case that the shop charges storage fees and the Auto Adjuster doesn't want to pay that amount.
     
  9. Change Request
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    This is a really old topic.

    A customer is responsible for fees that the insurance company will not pay to the body shop (or storage agent) for any fees related to your total loss process. An insurance company will make up the reimbursement rates for daily storage, body rates, and administrative fees that are not supported with data (that they will provide).. The shop can charge what they want for services that they provided and that does not have to match your insurance company's reimbursement amount. This is becoming a trend in the industry because shop's are constantly underpaid for their services by insurance companies.

    Remember, an insurance company is just paying the bill for a customer and that customer is the client for the shop. The shop does not work for the insurance company. All shops are trying to maintain a viable business and that involves generating profits, as they should. The insurance company is trying to save money on the claim and they will get it where they can. That is where the divide is.
     
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