Complaint Review: Geico Auto Insurance - Nationwide
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First of all, I want to let everybody know that I am a firm believer in being fair, reasonable, and willing to compromise. The reason for this report is because I believe others should be aware of the bad practices they will encounter when dealing with Geico, especially with a diminished value claim.
Back in September of 2014, my wife was T-boned by a reckless driver with a minivan coming from one shopping area. The other driver was immediately found at fault by the police and my wife's SUV could not be driven off and had to be towed. The SUV is a 2015 Grand Cherokee that we bought 2 weeks earlier, yes only two weeks out of the dealership and with less than 100 miles on it. Since my wife was pregnant at the time of the accident, we were advised to have her checked out to make sure the pregnancy was okay and we did. From the time I reported the accident to Geico and to my own insurance (Allstate), it took over three weeks for Geico to accept responsibility of the accident and I actually had to go through my own insurance to get a rental car and pay for the repairs.
Before making any repairs, I had a concern about accepting the vehicle with repairs due to the fact that I had a new car that now it was wrecked and I knew this would be an issue but Geico assured me that they would take care of the problem if I made a Diminished value claim after the repairs were completed. Like most people, I was fooled and I agreed to get the vehicle repaired and proceed with the diminished value claim. Kenneth Bailey from Geico told me that all I needed to do is to get them a letter explaining what I thought the diminished value was and some proof of what I was basing my estimate. Once the SUV was repaired, I went to a dealership a tried to get the vehicle trade-in and I was offered $33k for an SUV that I paid $40k a few weeks earlier, this due to the simple fact that the CarFax report showed that the car was involved in a significant accident. The dealership was impressed with the repairs but the only problem was that the car was involved in an accident. I understand cars loss value as soon as they leave the lot but they do not lose $7k in two weeks.
I included the offer from the dealership and the Carfax report to the letter I sent to them and I asked for $6.5k. From the time I submitted the paperwork (in November) I did not hear anything from them for months. I called them, emailed them, left messages, etc… I finally got a call back from Kenneth Bailey 4 months later and he offered me the ridiculous amount of $500 and after a long talk with him on the phone he offered me to settle for $1,000 and finally for $2,000 because they would not give me more without having more proof, I asked him what kind of proof and he told me I needed to figure that out. I did not think this was fair and I did not settle (I would settle for something close to $4,000) and I informed him that I would prepare a demand in small claims court.
I would be very willing to negotiate and to reach a reasonable solution for this issue if Geico was willing to do the right thing and if they would be open to treat me fair and respectfully. I understand Insurance companies do what they can to make money and they want to protect themselves from unreasonable claims, however in this case I think I’m being very reasonable and I’m only asking to be treated fairly and to get some help in recovering the value of my property that I lost due to the reckless driving of their insured driver.
This report was posted on Ripoff Report on 05/21/2015 12:34 PM and is a permanent record located here: https://www.ripoffreport.com/reports/geico-auto-insurance/nationwide/geico-auto-insurance-diminished-value-claim-houston-nationwide-1230695. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content
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