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I have had Geico Insurance and a very very good record for over 13 years. Recently I was in a rental car (covered by Geico) and got rearended – totally the others fault, other driver claimed fault and was ticketed. That claim is still undergoing settlement.
This weekend I had my office employee run me to the airport and on the way home she sideswiped a pole while turning causing $1500 in damages to the side of the car. Although this also was not my fault, and no-one was ticketed, she was obviously an authorized driver for my car, therefore I hold liability.
Now, the age old question comes.. is it better to pay these fees to get the car fixed out of my pocket rather than turn into my insurance company for fear of having the rates raised? If there is nothing else on my record that is my fault, EVER in the past 13 years. I was rearended once in 2002 and now again in 2008…but never had a claim that was my fault.
If I make this claim (which neither me or my employee can afford to pay for right now) will my rates raise? If so, how much should I expect and for how long (ie… will it be cheaper to pay myself- which is a BS question to even have to ask because this is WHY I am fully covered for 13 years- paying them over $21,000 in the past 13 years to BE fully insured— but with that being said… is it cheaper to cough it up and pay our of my own pocket or claim it with insurance and risk a rate raise?) How much could they raise my rates for one isolated personal fault incident over the past 13 years?)
This is about Auto Insurance Information.
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3 Responses to Question for Auto Claims Insurance Adjusters Only (Knowledge of Geico would be great)?
George R
February 7th, 2010 at 5:19 am
All they want is your money and don’t want to pay when something happens. That is why I laugh when they claim insurance fraud. They have been frauding us for years and when they have to pay, they cry. It is a shame that the government lets the companies get away with it. When Hurricane Katrina hit, they tried not to pay and the lawsuits against the insurance firms started. People are winning a few of them.
sydkan
February 7th, 2010 at 6:05 am
You can claim it and pay your deductible.
In some states you actually may be able to claim it on her insurance as she was at fault and hit the pole there is a possibility her insurance may cover the vehicle damages without a deductible but this would depend on what state you live in but your adjuster can give you this information.
As far as accidents and ratings. Most insurance companies surcharge (raise rates) the driver. being that she is not a listed driver chances are pretty good this would not increase your rates. Nor would the rear ender that you had earlier. If your rates do go up this would more than likely because of a claims frequency issue and not from one claim over the other.
I would claim the damage or at least check to see if her insurance will cover it. Again it depends on how her insurance policy is worded. If her policy covers Nononwed vehicle for which she is at fault for then there would be coverage but some policies are an excess basis meaning her policy would only pay if there was no insurance on your vehicle. I know I have probably confused you a little bit but it’s worth checking into. the worst thing they can say is no.
entidtil
February 7th, 2010 at 6:50 am
People who pay good money for insurance and then not use it are absolutely adored by insurance companies. Those people are also “penny wise and pound foolish”. You have insurance. Use it ! don’t worry about IF your rates MAY go up. If you have an accident Always, notify the police and always notify your insurance company ALWAYS !