If you are a regular motorist, you would agree with me when we meet bad drivers every day. There is always that guy who would decide to pay more attention to his cell phone rather than keep his eyes on the road, or there would always be that teen who might be playing with the radio dial when driving.
Avoiding this set of people might be very difficult, but you shouldn’t end up paying for their bad driving habits. So how does GEICO pay claims tell you more about your stress payment recovery plan and compensation?
Let’s say because of the negligence of another driver, your car gets damaged, immediately GEICO settles the claim, you will recover your deductible and the amount paid by the insurance company of the negligent driver or the negligent party itself. In simple insurance terms, this process is referred to as subrogation or payment recovery process.
How Does GEICO Pay Claims
I am sure that the question you have on your mind right now is this payment recovery process works and it works firstly verifying the driver at fault after an accident has happened. Then, a payment recovery examiner is assigned immediately after the other driver has been proven to be at fault for the accident.
This payment recovery examiner is the one that would ensure the at-fault driver or the at-fault driver’s insurer would pay for all the damages that your vehicle has suffered because of the accident.
Another good thing about this examiner that has been assigned to the payment recovery plan is that he would also keep you updated on all that is going on during the payment recovery process.
It is the duty of the payment recovery examiner to inform the at-fault driver and his insurance company that you would need to be paid reimbursement, and he would continue following it up till all of the payments are made or till all options have been exhausted.
In some cases, you should also know that recovering the full amount is not likely, and this is possible when the at-fault driver doesn’t agree to be at fault for the accident or maybe he doesn’t have insurance.
Guaranteeing recovery of your full deductible isn’t likely as well, but you should rest assured that they will make maximum efforts to make sure that you get the best reimbursement.
How Long Would The Payment Recovery Process Take
The fact is the payment recovery process might last up to six months, and in some other cases, it tends to happen faster than anyone can ever imagine, which also depends on the circumstances.
GEICO claims are always unique, and just like in every other aspect of life, things get to work out when everybody cooperates and plays nice. However, if the at-fault driver and his insurance company are not cooperative, then the chances of recovering anything at all is also impossible, or you might end up not recovering all.
One thing that GEICO guarantees in all of these are that you have them as an ally, and you are guaranteed that GEICO would work as long and as hard to make sure you get the best that you deserve.
How To Speed Up The Payment Recovery Process
Let’s say you already have a payment recovery insurance claim in progress; the first thing you need to always keep in mind is allowing GEICO to handle everything. However, there are few roles that you can play to help, and these roles are revealed below;
1. Making sure that GEICO is consulted before going ahead to accept settlement offers or make statements.
2. All inquiries from the at faults drivers party should be referred to the GEICO representative that is handling your case
3. Also, get yourself prepared to table body shop invoices, credit card statements, canceled checks, and any other proof of document used to pay your deductible. GEICO will contact you if any of this information has been requested by the other party’s insurance company.
3. You should also get yourself ready to submit a recorded or written statement regarding facts concerning the accident you have been involved in. GEICO will also contact you if the other party’s insurance company needs to have this piece of information.
In Conclusion – How Does GEICO Pay Claims
We want you to know that various states have their own payment recovery process rules, while some states don’t allow payment recovery depending non the coverage.
If you would like to know more information regarding this, you should check with the GEICO insurance representative assigned to you.