However, if you’re serious about getting the payout you deserve, there is no better way than hiring an attorney for your GEICO insurance claims.Īn attorney understands the legal system, historical precedents in past cases, and the strategies that the insurance companies rely on. Most policy holders simply roll over and accept sub-par payouts just to avoid the paperwork, legal stress, and time fighting for their rights. This is how the household name insurance company affords its iconic marketing campaigns, low premiums, accident forgiveness perks, and, yes, stellar profits. As we’ve explained above, GEICO can be stingy with their payouts to claimants. You need an experienced lawyer who knows all the secrets of accident claims against GEICO. Why do you need a lawyer to handle your injury claim against G EICO ? G EICO will try to use many tactics to reduce and delay the compensation owed to you after a wreck with a GEICO -insured defendant. Why Hire an Attorney for handling GEICO Insurance Claims In instances of no property damage but bodily injury, GEICO is likely to avoid paying fair value, making a trial one of the only options for getting the payout you deserve. However, if the disputed facts are around the cash value of damages, GEICO is far more likely to settle out of court, making the process is easier and less costly for all involved. If the disputed details in the case are around liability, or who is at fault, GEICO is known for taking claimants to trial and arguing for their case. It often depends on what legal issues are relevant to the case. But whether a case is settled or goes to trial is not always black and white. The new offer will almost always sit below the potential settlement amount. Even though all adjusters are trained and mandated to undervalue initial offers, this new adjuster will claim that it was basically a misunderstanding or mistake. The first thing they’ll do is reassign your case to a new adjuster. When you introduce an attorney, GEICO starts to pay attention. A trained and experienced attorney can help you bring it home. If you are unfamiliar with historical precedents and laws governing the situation, you may be leaving massive sums of money on the table. In some cases, the difference between the adjuster’s initial offer and their authorized ceiling price can be measured in the tens of thousands! Especially in these scenarios, going at it alone can be financially imprudent. Depending on the value of your claim, this could result in a substantial underpayment. If you negotiate, you will only be able to push them up to the ceiling value, as they have no authority to give you more. They are trained and instructed to offer you a value LESS than this ceiling. Usually, their team of adjusters is given a ceiling on how much they can offer on your claim. GEICO’s business model saves you money on premiums by settling claims far below fair value. We believe that by working with an attorney to handle your GEICO insurance claims, you’ll be able to substantially increase the value of your payout. However, with the right help, you can show them that you’ve done your homework and won’t be easy to take advantage of. The company thus possesses great resources and expertise that gives them up an automatic advantage in negotiating claims with their clients. GEICO is owned by Berkshire Hathaway, a $770 billion conglomerate with interests in multiple insurance and re-insurance companies, like Gen Re. GEICO in one of the biggest names in auto insurance in the United States, and the second largest car insurer in Texas. But before you let the funny commercials and signature Gecco disarm you, understand that dealing with this particular insurance agency is not always a joyride. GEICO believes that 15 minutes can save you 15 percent or more on car insurance.
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