Total loss situation in Florida: I was hit by an uninsured motorcyclist, and my car has sustained $17,800 in damages. I’m filing a claim with my insurance (Geico).
My vehicle is a 2020 Dodge Challenger with 60,000 miles. Geico claims the total loss threshold is 75%, but everything I’ve researched suggests it’s actually 80% in Florida. However, the statute seems to imply that it may apply specifically to uninsured vehicles.
I estimate the car’s value, according to KBB, to be between $22,500 and $25,000. This means that a 5% difference could determine whether my car is deemed a total loss. Since the car is paid off, I’m eager to avoid it being totaled altogether. Additionally, I was informed by Geico that I can’t seek a second opinion on the repair estimates.
They haven’t provided the actual cash value (ACV) of the vehicle yet and are still working on it.
It sounds like you’re in a challenging situation, but there are a few things you can consider to potentially prevent your car from being declared a total loss.
Understand the Threshold: In Florida, the threshold for a total loss is indeed generally based on the percentage of the vehicle’s value compared to the cost of repairs. While the typical figure is 80%, it’s crucial to clarify how Geico interprets any potential distinctions concerning uninsured vehicles. If the statute or your policy indicates a different threshold, make sure you understand the nuances.
Valuation of Your Vehicle: Since you’re aware of the KBB value, gather additional information supporting the value of your vehicle, such as recent sales data for similar models or any upgrades/conditions that could enhance its worth. Having solid evidence about the car’s market value can strengthen your position.
Negotiate Repair Costs: Even if Geico has stated that you cannot get a second opinion on repair costs, you can still request detailed breakdowns of the damage estimates. You might want to consult with an independent mechanic or collision shop to see if they can provide you with a lower repair estimate. If you can show valid costs that are below the threshold, it could help you argue against a total loss.
Communicate with Geico: Stay in regular contact with your claims adjuster. Clear communication can sometimes lead to flexibility, especially if you express your concerns about the total loss and provide supporting documentation for your vehicle’s value. Don’t hesitate to ask questions and ensure you understand every part of the claims process.
Review Your Policy: Go through your insurance policy to see if there are specifics about claims for uninsured motorists and how they apply to total loss situations. There may be clauses that could affect your situation.
Consider Legal Advice: If negotiations become difficult, seeking legal counsel may be beneficial. An attorney specializing in insurance claims might provide you with options or leverage you didn’t know you had.
Remember to stay proactive and keep detailed records of all communications regarding your claim. Good luck, and I hope you get a favorable resolution!