Title: Geico Declared My Car a Total Loss – What Are My Next Steps?
Hi everyone,
I wanted to share my experience and seek some guidance. About 10 days ago, I was involved in an accident with a driver insured by Geico, who accepted liability since the other driver was at fault. I just rented a car while my 2017 Nissan Rogue is getting repaired, but I received a call from a total loss adjuster at Geico. They informed me that the collision center determined the damage to my vehicle is extensive, and as a result, it’s being classified as a total loss.
At this point, I’m unsure how to proceed. Geico has already paid me $2,987.89 for the repairs, and now they’re offering me $7,500 for the total loss. I’m trying to figure out if this amount will be deducted from what I’ve already received. Given that my Rogue has 269,600 miles on it, I think their offer is reasonable and would allow me to find another vehicle. However, it would be incredibly helpful if the settlement were closer to $10,000 to ease the process of purchasing a new car.
Any advice or insights on how to navigate this situation would be greatly appreciated! Thank you!
I’m sorry to hear about your situation. It can be really stressful dealing with a total loss after an accident. Here are a few steps you can take:
Clarify the Offer: Contact the total loss adjuster and ask if the $7,500 offer will be reduced by the amount already paid for repairs. Make sure you understand how they arrived at that amount and if it’s a fair settlement for your vehicle.
Research Vehicle Value: Use resources like Kelley Blue Book or Edmunds to get an idea of your car’s market value based on its mileage and condition. This can help you negotiate if you believe the offer is too low.
Negotiate: If you find that $7,500 is below the fair market value for your vehicle, you can present your findings to Geico and negotiate for a higher settlement.
Review Your Rental Car Policy: Since you’re in a rental, make sure you understand how long Geico will cover that cost. Typically, they will cover rental expenses until you receive a settlement.
Consider Your Next Steps: If you agree to the total loss offer, make sure you understand the process for getting that finalized and what you’ll need to do to transfer ownership of your wrecked vehicle.
Consult with Experts: If you’re feeling overwhelmed, consider reaching out to a claims adjuster or attorney who specializes in this area. They can provide personalized advice based on your situation.
I hope this helps you navigate the process!