Any Geico customers out there?

Question

Our new truck was stolen on the 1st and Geico said it would take 21 days for them to classify the truck as a loss and pay what the truck was worth.. Well tomorrow is the 21st day and i was wondering how long does it take Geico take settle on the claim. This is our very first car insurance claim ever and we are "virgins" at that and we don't want to get screwed either. Has anyone ever had any dealings w/ Geico about a stolen car and how did it go? Thanks for any and all info :)

Answer 1

Geico is EVIL.

They rip people on both sides, so get a lawyer NOW.

I got hit by a person insured by them and my lawyer mentioned Geico is one of the worst companies to deal with.

There is not enough space to convey my feelings about this company.

Answer 2

When I wrecked my car, as soon as I met with them (it took a couple of days for me to free up my schedule) they wrote me a check right then.

Answer 3

Not just Geico, but everyone - they don't pay until darned near 30 days are elapsed.

Your problem is likely to be with the "what the truck is worth" bit.  See, if this is new, it depreciated a BUNCH the second you drove it off the lot.  Unless you put down a substantial down payment, you're likely upside down on it.  So "fair" does NOT mean payoff of the loan, and it also does not mean putting you in a new truck.  You can go to www.kbb.com and figure out the private party, used value of your truck.  Less your deductible, THAT is the 'fair' amount you should be offered.  

I hope you bought gap coverage.