Geico is known for its charming green gecko mascot. But like other insurance companies, they play hardball when it comes to fulfilling their obligations to policyholders. Geico may offer quick settlements, but those offers often short-change the full value of damages a person suffers after an accident.
Car, motorcycle, and truck accidents can result in excruciatingly painful, traumatic, and life-changing injuries that require costly medical treatments. You deserve compensation for all your losses.
The personal injury lawyers at Redemption Law have helped numerous accident victims recover maximum compensation from Geico.
Here’s how our personal injury lawyers handle Geico injury claims for our clients:
Common Injury Claim Accidents
Our lawyers deal with Geico on many accident cases, including:
- Car accidents
- Pedestrian accidents
- Truck accidents
- Rideshare accidents
- Motorcycle accidents
- Bicycle accidents
About Geico
Geico was established in 1936 as the “Government Employees Insurance Company.” Since then, the company shortened its name to GEICO, launched an advertising campaign featuring its now-iconic gecko mascot, and grew to become one of the country’s largest auto insurers with more than 14 percent share of the market. Geico, which corporate conglomerate Berkshire Hathaway owns, employs about 40,000 and brings in $25.5 billion in annual revenue.
Filing a Geico Injury Claim in Florida
Florida is a no-fault insurance state, so if you’re in a motor vehicle accident in Florida, your insurance company will cover the cost of your damages up to your policy limits, regardless of fault.
Geico policyholders can report their accident through a mobile app, online, or by calling the company at (800) 841-3000. (If you haven’t yet done this, we can and probably should do that for you.) Geico says to “report your claim as soon as possible for a number of reasons” so adjusters can “investigate quickly after the accident.”
When you do report your accident, you will need to give some details, such as the date, time, and location of the accident, the kind of vehicles involved, and the other driver’s name and insurance information. Geico will probably ask you to give more details, such as your version of the events and other insights but you shouldn’t. Never sign documents or give statements and never admit fault even if you think you may bear some of the blame.
Several factors may contribute to an accident, so let our professionals determine the cause. Plus, Geico may use what you say against you and limit the value of your claim and compensation. Let our lawyers handle communications with Geico instead.
Required Insurance in Florida
As with many other no-fault insurance states, Florida law requires all motorists to purchase Personal Injury Protection (PIP) insurance with a minimum coverage of $10,000. PPP covers your medical bills and lost income related to your accident injuries. If your damages exceed your PIP coverage limits, you may file a third-party claim against the at-fault driver’s insurance company.
Filing a Third-Party Claims
If you file a third-party claim, you may also file that claim against Geico if both of you are Geico policyholders. Third-party claims involve more than first-party claims. For peace of mind, our lawyers can navigate both the first- and third-party claims processes for you.
Florida also gives accident victims the option to file a lawsuit against the at-fault driver if they sustained severe or catastrophic injuries or the accident caused property damages in excess of $10,000.
Florida defines severe and catastrophic injuries as:
- Injuries that are permanent with significant scarring or disfigurement
- Injuries that are permanent with significant loss of a vital bodily function
- Injuries that are permanent within a reasonable degree of medical probability
- Injuries that result in death
Geico’s Claims Process
When you report your accident to Geico, the company will review evidence like the accident’s police report and your medical records. Based on the evidence, Geico will calculate the value of your damages and offer you a settlement.
The offer may include financial compensation for economic damages such as your medical bills, lost income if you missed work days due to your accident injuries, and damages to your car. Geico’s offer may also include a dollar amount to compensate you for non-economic damages, such as pain and suffering.
Insurance companies like Geico investigate quickly after the accident to make you a fast offer in hopes that you will take it before consulting an attorney. Experienced personal injury lawyers know that accident injuries may require more medical treatment and long-term care that those quick offers don’t account for.
Geico’s offer may severely undervalue the full impact your accident injuries have on your life and the lives of your family members, such as your pain and suffering and other non-economic damages.
Our lawyers stress time and time again that accident victims should never accept an offer from an insurance company without first consulting an attorney. We offer free consultations and can tell if you are leaving money on the table by accepting an offer.
How Our Lawyers Handle Geico Injury Claims
Our lawyers will start right away on your Geico injury claim.
We Will Investigate Your Accident
We investigate accident cases to identify possible causes. We consider all evidence available, including photos of the accident scene, the police report, your medical bills and treatments, and eyewitness testimony, if there is any. This information builds a strong case for you.
We Will Identify All Liable Parties
The evidence we collect can also help us identify all liable parties, such as other drivers, government entities, or trucking companies if you were in a truck accident. We can hold a trucking company liable for your accident if they hired unqualified truck drivers or did not properly maintain their trucks.
We Will Value Your Claim
Your lawyer values your injury claim by identifying all your damages. Damages are the losses you sustain from your accident injuries.
Economic damages are monetary losses for which you can show an actual value, such as medical bills for treatments, surgeries and procedures, hospitalizations, medication, and rehabilitation. If the accident caused severe or disabling injuries, this can include future medical needs, home modifications, or special equipment.
Your economic damages may also include lost income if your injuries prevented you from working or loss of future income if you cannot return to work in the same capacity as before the accident.
Non-economic damages are non-monetary losses, such as pain and suffering. Non-economic damages are more subjective and, thus, more difficult to value. Depending on your injuries, you may recover compensation for mental anguish, disfigurement, loss of enjoyment of life, or loss of consortium.
Our lawyers will determine the full extent of your damages and their value to create a demand for compensation for Geico. Since non-economic damages are more difficult to calculate, we usually rely on one of two methods to come up with a number—the multiplier method or the per diem method.
The multiplier method multiplies your economic damages by a number. The more severe your injuries, the higher the multiplier. The per diem method determines a value based on a daily rate. Once our lawyers calculate the value of your injury claim, we make Geico a demand for compensation.
Geico Calculates Damages Differently
Insurance companies use several claims software to calculate the value of injury claims. Geico doesn’t reveal which system it uses, but these programs work similarly. The adjuster enters data about the accident and your injuries into the program, and the software will calculate a settlement range.
The Geico adjuster will likely make an offer at the low end of that range and, after some back-and-forth negotiations, may reach the top end of the range. But our lawyers can provide evidence that shows you deserve more compensation, which may drive the adjuster back to their software for another calculation.
The bottom line is that the computer programs insurance companies use to calculate damages are notorious for undervaluing your actual losses. They often overlook details such as additional medical treatments, ongoing care, or your mental anguish. This is why our lawyers urge accident victims to never accept a settlement offer from the insurance company before consulting an attorney. We can calculate the full value of your damages and the compensation you and your family deserve.
We Will Negotiate With Geico for a Fair Settlement
Instead of accepting Geico’s lowball offer, our lawyers will demand compensation that more accurately reflects your losses. Geico will likely counter. Depending on what they counter with, our lawyers may continue to negotiate with Geico until we reach a fair settlement. In that case, we would advise you to accept the offer. If we cannot negotiate a fair settlement, we may recommend you file a lawsuit against Geico.
We Will Represent You in Court
If necessary, we will file your accident case in civil court before the statute of limitations runs out. Florida’s statute of limitations for injury claims is two years from your injury.
Insurance companies prefer to avoid court, if possible, because of the time-consuming and expensive nature of trials. We will continue negotiating with Geico and will likely reach a settlement before the court date. In fact, most injury cases settle before they reach the courtroom.
But if your case goes to trial, our lawyers can represent you in court and advocate for the full compensation you deserve.
Contact a Lawyer with Redemption Law Today
Geico is a powerhouse in the auto insurance industry. The company insures more than 28 million vehicles and pulls in more than $25 billion in annual revenues. Despite its deep pockets, Geico regularly short-changes accident victims by undervaluing their claims. Our lawyers know Geico adjusters’ sneaky tactics, and we won’t let them get away with making lowball offers to our clients. We work hard to get our clients the compensation they need and deserve.
The Miami personal injury attorney at Redemption Law fights hard for the maximum compensation for all our clients so they can focus on their own recovery. Contact our personal injury law firm today at (305) 465-3425 for your free consultation and case evaluation.