Payment Recovery: GEICO is on the Case
Bad drivers—you see them every day. The guy who's paying more attention to his cell phone than the road, the lady who cuts you off without looking, the teen who's fiddling with the radio dial.
You might not be able to avoid them, but you shouldn't have to pay for their bad driving. Through payment recovery, GEICO makes every effort to ensure you don't have to.
Let's say your vehicle is damaged due to another driver's negligence. Once GEICO settles your claim, we'll likely seek to recover your deductible, as well as the amount we paid, from the negligent party or that party's insurance company. In insurance lingo, this common process is known as payment recovery or subrogation.
How does payment recovery work?
When you have an accident, we will verify who is at fault. If the accident is the fault of the other driver, we will put a Payment Recovery Examiner on the case who will make sure that the other driver, or his or her insurance company, pays for the vehicle related damages. Plus, the examiner will keep you informed about the payment recovery process.
Your Payment Recovery Examiner will notify the negligent other party, or that party's insurance company that we're pursuing reimbursem*nt on your behalf, and then he or she will follow up again, and again, and again–until you receive payment, or until all our efforts are completely exhausted.
In some situations, no matter how tenacious we are, we cannot recover the full amount we request. (Sometimes this happens because the other party involved disputes the cause of the accident or does not have insurance.) We can't guarantee recovery of your full deductible, but rest assured that we make every effort to get you the maximum possible reimbursem*nt.
How long does it take?
Payment recovery usually takes about six months, but sometimes it happens faster, depending on the circ*mstances. (GEICO claims are like snowflakes–they're all unique.) Like most things in life, it works best when everyone plays nice and cooperates. If the other parties involved are uncooperative, recovery could take longer or we might not be able to recover anything at all.
No matter what happens, we can guarantee one thing: We will work as hard as possible, as long as possible on your behalf. When you work with GEICO, you've always got an ally.
How can I help speed the payment recovery process?
If you have an insurance claim in payment recovery, the most important thing to remember is this: Let us handle it!
You can help us out by following these guidelines:
- Refer any inquiries from the other parties involved to the GEICO representative handling your claim.
- Consult GEICO before making any statements or accepting any settlement offers. Not consulting us could jeopardize your claim.
- Be prepared to submit a cancelled check, credit card statement, body shop invoice, or other proof that you paid your deductible. GEICO will contact you if the other insurance company requests this information.
- Be prepared to submit a written or recorded statement about the facts of the accident. GEICO will contact you if the other insurance company requests this information.
Note: States have different rules regarding payment recovery, and some states do not allow payment recovery for some coverages. Check with the GEICO representative handling your claim if you would like more information.
This material is intended for general information only. It does not expand coverage beyond the policy contract. Please refer to your policy contract for any specific information or questions on applicability of coverage.
FAQs
What to Say to Someone After a Car Accident
- “I'm Glad You're Okay” ...
- “How are you feeling” ...
- "Is there anything I can do to help you right now?" ...
- "I can't imagine what you're going through, but know that I'm here for you." ...
- "Take all the time you need to recover. ...
- "I'll be praying for your quick recovery."
Yes, depending on the level of cover you have, there's usually some kind of recovery included. But it might just be local recovery, which is only helpful if you break down close to home. It's important to choose the right level of cover based on your needs.
What is the average car accident settlement in NJ? ›
The Average New Jersey Car Accident Injury Settlement
The Insurance Information Institute reports that the average auto liability payout for property damage was $5,314, the average for bodily injury was $22,734, and the average collision payout was $5,010.
How do you write a statement about a car accident? ›
How To Write A Car Accident Witness Statement
- Include the Witness's Full Name and Contact Details. ...
- Detail the Who, What, When, and Where of the Accident. ...
- Share Your Perspective on How the Crash Occurred. ...
- Report Observations of Injuries and Property Damage. ...
- Include Other Relevant Information. ...
- Sign the Witness Statement.
Treatment
- What did I do to strengthen my recovery today? ...
- What problem behaviors did I exhibit today? ...
- What could I improve from today? ...
- What did I learn about myself today? ...
- Did I set or accomplish any goals today? ...
- What is one problem I had today? ...
- What is one coping skill that I learned today?
how to start the conversation
- Ask if they'd like you to check in and how much is too much. It's simple. ...
- Tell them you're going to check in. ...
- Open with a safe question asked in a safe place. ...
- Reinforce your desire to understand. ...
- Be there for the highs and lows. ...
- Remember: Recovery is different for everyone.
What is the Recovery of Insurance Claims? Insurance Claims Recovery is a legal phrase that refers to an insurance company accepting its insured's right to pursue a claim against a wrongdoer. If an insurance company pays for property damage caused by an accident, the party that caused the accident will be held liable.
What insurance do you need for recovery? ›
All recovery operators need recovery truck insurance for their vehicle (or fleet of vehicles). Breakdown and recovery agent insurance can include cover for: Your vehicle(s) – Each vehicle can be covered on a third party, third party fire and theft, or comprehensive basis.
Do insurance give money back? ›
You should get a refund of any premiums you have already paid. However, your insurer may take off a small amount to cover days when the policy was in force. They may also charge you a small administration fee. Some insurers may give you a longer cooling-off period.
How long do most car accident settlements take? ›
Complexity of case
| Complexity of case | Length of Time to Settle |
|---|
| Simple | Approximately: 1 – 6 months |
| Moderate | Approximately: 6 – 12 months |
| High | Approximately: 12 – 24 months+ |
Dec 7, 2023
Longer Settlement: Three Months to One Year or Longer
This is why it is imperative to be patient and negotiate with an insurance company until you are sure that the settlement is fair, just and reasonable. This process could take three months up to around one year or longer.
How much are most personal injury settlements? ›
Here are the average settlement amounts for some of the more common types of personal injury claims in California:
- Workers' Compensation Settlement: $5,000 – $20,000.
- Car Accident Settlement: $20,000 – $30,000.
- Motorcycle Accident Settlement: $50,000 -$150,000.
- Pedestrian Accident Settlement: $40,000 – $100,000.
The letter should include documentation of the accident and your losses; this can include things like the police report, witness statements, medical bills and records, and evidence of lost wages.
What should you say in an insurance statement? ›
Stick to what you know for sure and be clear and concise in your answers. If you do not know the answer to a question, say so, rather than guessing or making assumptions. “I can't be sure, but I'll bet the other driver was on the phone” is classic speculation that is best left out of a statement.
How do you describe car body damage? ›
Car body damage can range from simple dings and scratches to major structural issues affecting the vehicle's functionality. Factors such as weather, collisions, accidents, or even a stray shopping cart can contribute to these damages.
How to ask if someone is ok after an accident? ›
Instead of saying, “Are you feeling better today?” ask, “How are you feeling/doing today?” This phrasing will allow them to be more honest and not feel pressure to be doing better if they aren't.
How do you wish someone well after an accident? ›
Get Well Wishes
- Feel better soon!
- Hope you feel better soon.
- Hoping you find strength with each new day. ...
- Have a speedy recovery!
- I hope each new day brings you closer to a full and speedy recovery!
- May good health envelop you, spurring a quick recovery.
- Thinking of you lots and hoping for your speedy recovery.
Things To Do After Leaving the Accident Scene
- Contact your auto insurance company and tell them what happened as soon as possible.
- Get a copy of the accident report filed by the police or other motorist.
- Keep detailed notes on your injuries and physical and mental conditions.
- Track your medical treatment and providers.
I Love You.
People in recovery are often dealing with feelings of guilt and shame related to how they treated others while they were actively abusing drugs or alcohol. As a result, they may believe that they're unworthy of continued love. Remember that addiction makes people do and say things that are out of character.
