Car Totalled - Geico Insurance - Adjuster Settlement Options?

Discussion in 'Auto Insurance Forum' started by TotalD, Jul 12, 2010.

  1. TotalD
    Offline

    TotalD New Member

    Posts:
    12
    Likes Received:
    0
    Hi,

    i'm looking for any seasoned advice on my situation. To be concise, I had my first ever car accident a couple of weeks ago where I lost control on a very dark, very narrow street. It was a crazy accident where the car flipped and then caught on fire. Obviously the most important thing is that I got out and although I have some injuries, they aren't life threatening and I should fully recover. With that being said, my car was a 2007 Dodge Charger which was in exceptional condition.
    It didn't have a scratch or smudge prior to the accident and people at the dealer or places I get my car services as well as any neighbors in my area could/would easily confirm this. Because the car was totaled due to the fire the adjuster claims prior condition cant be fully examined. I said you can clearly see parts of the car that weren't involved in the accident as well as parts of the interior and tell it was in excellent shape. He disagreed and his assessment came back as average on all aspects.

    I also purchased a set of Brand new tires about 4 months ago which I have the receipt for and which were in excellent condition (only have about 3k miles on them) and those too he put as just average. Anyway, because this was my first ever new car I put things into the car over the years. Sound system, cold air intake, upgraded Borla exhaust, etc. The total amount of parts added to the car for the 3 years I owned it add up to ~$5200 which include the $1100 Brand new Michelin Tires just put on a few months ago.

    I have all receipts for these items and faxed them to the Geico Adjuster so he could verify each of the parts.
    The adjuster said because I didn't have "ENDORESEMENTS" with Geico that the most he is willing to do is increase the settlement offer $584. Obviously I was upset wtih this as that offer is an insult. Obviously now I am aware of what endoresements are and in the future should I ever add anything with any value to another car i'll get them without a thought.

    The question I have though is what negotiating power do I have with this Geico adjuster? I mean, I know I can"t expect full value on these items without the endorsements but the Value of my car absolutely was increased because of them and as I mentioned, on top of this they are not giving me outstanding or exceptional in ANY category when EVERY category was considered outstanding by every definition from Edmunds, Kelly and NADA.

    So I'm asking for help here in the best way to negotiate at least a REASONABLE amount for either the outstanding condition my car was in prior to this accident or a reasonable number for the more then $5,000 over 3 years that I put into my car?
    Any help or advice here would be GREATLY appreciated. Thank anyone with any assistance they're willing to offer in advance.
     
    Last edited: Jul 12, 2010
  2. DS4
    Online

    DS4 Guru

    Posts:
    3,817
    Likes Received:
    15
    State:
    California
    I suggest you call your auto ins agent. The agent should be able to pressure the adjuster.
     
  3. TotalD
    Offline

    TotalD New Member

    Posts:
    12
    Likes Received:
    0
    @ DS4, firstly, thank you for your reply...I appreciate it. Now quick question..when you say call my insurance "agent" I didn't know I had an agent. I have my insurance through Geico, and this adjuster works with Geico. So are you saying I should call Geico and find out the name of the "agent" that wrote my policy and tell him the situation?
     
  4. arnguy
    Offline

    arnguy Guru

    Posts:
    7,786
    Likes Received:
    12
    State:
    Pennsylvania
    I f you dealt directly with GEICO I am sorry to say that you will have very little chance to negotiate this settlement. That's one of the reasons I dropped them when I had an accident in which I was not at fault.
     
  5. Mark
    Offline

    Mark Guru

    Posts:
    7,927
    Likes Received:
    22
    State:
    Georgia
    I've had tons of problems with GEICO and them trying to avoid paying a claim...never,,,ever ,,buy from them...
     
  6. TotalD
    Offline

    TotalD New Member

    Posts:
    12
    Likes Received:
    0
    Thanks for the replies...sheez, this isn't good to hear. You always hear/read about how great an insurance company is PRIOR to the fact of anything happening, but like a real friend, you only know who they are when sh*t hits the fan!

    So who would you guys reccomend as a great insurer? I've read horror stories about State Farm in California for understating values on total losses..they even had lawsuits against them for this. I guess I still need help with my question, but after this is over and I dump Geico, what insurance company is "REAL" in the event something like this ever happened again?

    Thanks again in advance.
     
  7. lisaann66
    Offline

    lisaann66 New Member

    Posts:
    16
    Likes Received:
    0
    State:
    California
    Hello!

    I've never worked for GEICO but I was a claims adjuster for over 20 years. 2009 I jumped the fence and am now an Agent.

    Unfortunately, you are in a tough situation with respect to your aftermarket items. Insurers only owe ACV= Actual Cash Value. This basically means: whatever the current value is in your area based on the condition of the vehicle. Proving that a vehicle is in "outstanding" or "mint" condition can be somewhat difficult.

    You might try and dig up some photos if you have any and a copy all of your service invoices and receipts for the things that you feel added value to your vehicle. Provide this information to the adjuster. You are entitled to a copy of the total loss evaluation and I would request the adjuster explain what he is considering in the $548 increase.

    Understand that depreciation is considered on items that aren't brand new and mileage has an impact on your value. Low miles increases value, high miles decreases value. Have you a Kelly Blue Book? You could attempt to go on-line and book the car out yourself. It's not that difficult. Inside the book there is a description of the different values and what they mean to the consumer. Take a look and see if your opinion on "condition" value matches the "condition" value description in the book.

    All claims are negotiable within reason. Unfortunately, the burden is on you to prove to the adjuster that your car exceeds "average" condition. A good adjuster would be willing to take the information you provide and reconsider the offer of settlement. If it can be documented and justified it can be considered within your policy provisions. :yes:

    I hope your claim resolves to your satisfaction. I'm glad you managed the accident without significant injuries.

    Feel free to contact me if you need further assistance.

    lisa
     
  8. DS4
    Online

    DS4 Guru

    Posts:
    3,817
    Likes Received:
    15
    State:
    California
    Here is your agent
    [​IMG]
     
  9. TotalD
    Offline

    TotalD New Member

    Posts:
    12
    Likes Received:
    0
    @ lisaann,

    first, thank you for the EXCELLENT and informative reply, I appreciate that. I understand i'm in a tough predicament with the aftermarket parts, but let me ask you this. From your experience, would Geico be willing to consider ANY reasonable offer? I mean does having me as a customer for life mean ANYTHING to them or at this point they could just care less?

    Even though they aren't obligated to pay the aftermarket endorsements (I won't ever make that mistake again)...let's say I were to counter-offer for 1/5th of what I paid and what my receipts show. Or $1100 total....that is incredibly reasonable..they came back at 1/10th of what I paid, i'm asking for 1/5th. How likely do you think they would be to agree to my very reasonable counter-offer?

    And last but not least, when I told them I was upset with that low-ball offer today and that I was gonna take more time to think things through...the agent told me he'd be cancelling my Rental on Wednesday. I guess that's a tactic they use..even though I have a 30 day rental, now that they've made an offer on my totaled car, they really put on the pressure by doing things like this. That definitely isn't gonna help my feelings towards them.

    But with that being said, does Geico lose ANYTHING by me taking more time to try to prove the outstanding condition of my car to get a more fair settlement amount? I mean, when they pull the rental on Wendesday, what does Geico lose if anything by me NOT agreeing to their numbers in a timely fashion?

    Thanks again in advance...I greatly appreciate it.
    - - - - - - - - - - - - - - - - - -
    @ DS4,

    man, you should of said so...a few insects will persuade my agent to work things in my favor!!!!
     
    Last edited: Jul 12, 2010
  10. FL P&C Broker
    Offline

    FL P&C Broker Guru

    Posts:
    995
    Likes Received:
    0
    State:
    Florida
    My guess is that you purchased Geico because it was the cheapest, yet you put $5k into your car...just saying.
     
Loading...

Share This Page