What You Should Know About Geico Insurance Claims in Ocala, FL

Bill Allen | March 5, 2024 | Car Accidents

The Government Employees Insurance Company (GEICO) is a private insurance company with its headquarters in Maryland. Its most popular insurance products include auto insurance and homeowners’ insurance, among others. If you are planning to file a claim against GEICO, pay attention to the following advice.

GEICO Is Your Adversary

GEICO is a private, for-profit business. It earns money by accepting premiums, and it bleeds money by paying claims. Because of this, your interests and GEICO’s interests are directly adverse to each other. It is in your interests to receive the highest settlement possible. It’s in GEICO’s best interests to pay you nothing or as little as possible.

Do Not Agree to Give a Recorded Statement

The GEICO insurance adjuster will likely pressure you to give a recorded statement. You don’t have to do this, and you shouldn’t. If you do, GEICO will ask you trick questions and use your answers against you.

GEICO Will Challenge Your Medical Expenses

GEICO is obligated to pay your “reasonable and necessary” medical expenses, at least up to policy limits.

They can and probably will dispute at least some of your medical expenses as:

Unreasonable;
Unnecessary; or
Not caused by the accident (a pre-existing condition, for example).

Stick to conventional treatments and avoid controversial treatments such as homeopathy. Also, stick to your guns—don’t let the insurance company whittle down the value of your claim for no good reason.

Unless You Have a Lawyer, You’re Probably Undervaluing Your Claim

Your personal injury claim is probably worth more than you think it is.

Here are some of the elements of a typical personal injury claim:

Economic damages: Medical expenses, estimated future medical expenses, lost earnings, diminished earning capacity, out-of-pocket expenses, etc.
Non-economic damages: Emotional distress, pain and suffering, disfigurement, etc.

Non-economic damages often amount to three to five times the amount of economic damages. If the defendant’s conduct was outrageous enough, you might even qualify for punitive damages.

GEICO Will Probably ‘Lowball’ You

‘Lowballing’ means making a ridiculously low offer for a claim. If your claim is worth $15,000, a lowball offer might be $1,000, for example. GEICO, like just about any other insurance company, will probably lowball you the first time just to see if you will fall for it. If you are desperate or unaware, you will probably fall for it. Once you reject the first lowball offer with a much higher counteroffer, GEICO will probably submit a more reasonable second offer.

It Might Make Sense to File a Lawsuit Even if You Plan to Settle Out of Court

There are at least three reasons to file a lawsuit even if you still hope to settle out of court:

To beat the statute of limitations deadline. The general statute of limitations deadline is two years after the date of injury, although exceptions sometimes apply. Once you beat the statute of limitations deadline, you’ll never have to worry about it again.
To prove to GEICO you mean business. Filing a lawsuit could shake GEICO up enough to stimulate a realistic settlement offer.
To take advantage of the pretrial discovery process. The pretrial discovery is a powerful, court-enforced way for each side to force the other side to divulge evidence that is in their possession. You can even demand evidence from a third party, such as a bank.

Remember, you can settle your claim any time before the final verdict.

Let Your Lawyer Handle Negotiations

Nothing will make a GEICO insurance adjuster happier than convincing you that you don’t need a lawyer to help you handle your insurance claim. That’s because an experienced Gainesville personal injury lawyer is not going to fall for any of their tactics.

Perhaps even more importantly, a lawyer knows how to file a bad faith claim against GEICO, and GEICO knows it. A bad faith claim is the kind of claim you file when the insurance company deals with you in a deceitful or bullying manner.

Contact Our Personal Injury Law Firm in Ocala, FL

If you need legal assistance, contact the Ocala car personal injury at Allen Law Firm, P.A. at your nearest location to schedule a free consultation today.

We have two convenient locations in Florida:

Allen Law Firm, P.A. – Gainesville office
2550 SW 76th St #150
Gainesville, FL 32608
(877) 255-3652

Allen Law Firm, P.A. – Downtown Gainesville
621 W University Ave
Gainesville, FL 32601
(866) 928-6292

Allen Law Firm, P.A. – Ocala Office
112 S Pine Ave
Ocala, FL 34471
(352) 351-3258