Meeting with any insurance company after a car accident is tough. However, approaching a big insurance company like Geico can seem like an impossible task.
But it doesn’t have to be when you work with our Atlanta car accident lawyers at John Foy & Associates. Read on to learn more about negotiating a car accident settlement with our car accident team.
Hire a Car Accident Lawyer to Help You Face Geico
The first step when preparing to negotiate a settlement with Geico is to retain an experienced car accident attorney. Even if your claim seems straightforward, an Atlanta car accident lawyer can significantly improve your bargaining position and outcome when dealing with Geico’s seasoned adjusters and legal team.
A lawyer will advise you on gathering evidence, documenting your losses, establishing your minimum demand, and understanding your legal rights and leverage under state law. We know the nuances of insurance regulations and can identify options to maximize the value of your claim that you may otherwise overlook.
Communicating With Geico’s Insurance Adjusters
An Atlanta car accident attorney can also facilitate communication with Geico’s insurance adjuster on your behalf. Rather than you attempting direct negotiations, we are equipped to skillfully convey your position, analyze counteroffers, and work toward the strongest agreement possible.
If mediation or litigation becomes necessary, having skilled legal representation is essential. Geico will have its defensive strategies prepared, so you need someone just as capable of fighting for your interests.
Overall, facing Geico alone at the negotiating table without legal guidance puts you at a disadvantage in terms of information and experience. Hiring a qualified Atlanta personal injury attorney reverses that power imbalance and creates the best chance for a full and fair settlement.
Establishing Your Minimum Settlement Amount
Before entering negotiations with Geico, it’s important to consider what your bottom-line settlement figure is. This minimum amount should account for all documented losses and damages to have your basic needs met.
Our team at John Foy & Associates can help you with this step. To determine your number, we will thoroughly research and document the following:
- Medical bills: Total all expenses for doctors, hospitals, therapies, and medication.
- Lost wages: Calculate full or partial pay missed due to injuries. Provide pay stubs as proof.
- Vehicle repair costs: Get auto body estimates to substantiate repair or replacement amounts.
- Insurance deductibles: Add medical and auto deductible amounts you had to cover initially.
- Property damage: Ascertain valuations for totaled vehicles, gear, or other damaged property.
- Pain and suffering: Research typical settlement ranges for your type and length of injuries.
- Future expenses: Anticipate costs like ongoing treatment and lost future earnings capacity.
Factor in expenses already paid out of pocket as well as projected future costs. This bottom line will determine if Geico’s offers are adequate or require further negotiation. Entering talks from a position of establishing a fair minimum prevents you from settling too low.
Understanding Geico’s Claims Process and How it Affects Your Settlement
Geico has made efforts in recent decades to streamline its claims-handling procedures. Like many insurers, they have implemented specialized software programs to evaluate different elements of injury and property damage claims systematically.
While designed to standardize valuations, these algorithms can undervalue certain types of losses. For medical expenses, the software compares bills to a “reasonable and customary” fee schedule, which is often significantly lower than actual costs. It also applies calculated figures to pain and suffering components that may not fully capture the individual experiences and impacts.
The results of relying heavily on automated systems can be severely low settlement offers that do not adequately reflect all damages incurred. In many cases, claimants are left unhappy with the proposed compensation and pursue litigation to seek higher awards that more closely match expenses and suffering.
Geico adjusters are also under pressure to resolve incoming claims quickly. They may aggressively push injured parties to accept initial settlement offers without considering special circumstances or long-term impacts not captured by standardized software models.
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Actions to Avoid to Negotiate a Good Car Accident Settlement
Along with things you should do when negotiating a car accident settlement, there are things you should avoid. Here are some actions you should avoid in order to negotiate a better car accident settlement with Geico:
- Don’t sign releases prematurely: Geico may try to get you to sign broader releases than necessary to close parts of your claim quickly. Wait to sign full releases until the entire claim is settled.
- Don’t give recorded statements without your attorney: Geico will want to get your statement, but you want your lawyer involved to make sure it is an accurate reflection.
- Don’t accept the initial settlement offer without review: Geico’s first offer will likely be low. Have your lawyer evaluate if it properly accounts for all damages.
- Don’t communicate directly with the adjuster once a lawyer is involved: Let your Atlanta car accident attorney handle negotiations from that point on.
- Don’t conceal treatment or exaggerate injuries: Being completely honest about your claim will give your case more credibility when negotiating.
- Don’t delay treatment or filing reports: Get medical attention promptly and fully cooperate with all aspects of documenting your claim.
- Don’t rely solely on Geico’s evaluations: Get your estimates and supporting documents like doctors’ opinions.
Learn How to Negotiate a Car Accident Settlement With Geico
Our car accident lawyers in Atlanta at John Foy & Associates have over 20 years of experience dealing with Geico after car accidents; let our team take the lead while you heal from your injuries. We can help you approach the insurance company with confidence and leave with the settlement you deserve.
Contact The Strong Arm to get a fair settlement from Geico.
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