Geico Settlement Payouts: What Georgia Accident Victims Need to Know
If you were injured in a car accident and the at fault driver is insured by Geico, understanding how Geico settlement payouts work is important. The company uses strict internal guidelines, claim evaluation software, and policy limits to decide what to pay. These payouts often fall short of covering full medical expenses, lost wages, and other damages.
Knowing what to expect can help you make informed decisions and avoid accepting an unfair settlement. An experienced Atlanta car accident lawyer can help protect your rights and push for the compensation you deserve.
Understanding How Geico Handles Settlement Payouts
Understanding how Geico evaluates and pays settlement claims helps injury victims make informed decisions after a car accident in Georgia.
How the Geico Claims Process Starts
After an auto accident, the injured party or their car accident lawyer files a claim with Geico. The company assigns a claims adjuster to review the case. The adjuster investigates the accident details, evaluates property damage, reviews medical records, and interviews the parties involved. This is part of Geico’s internal process to determine whether the at fault driver under their automobile insurance policy is liable.
What Geico Adjusters Look For
Geico adjusters review several key factors during the claims process. These include the severity of the plaintiff’s injuries, the cost of medical treatment, and how long the plaintiff treated. Lost wages and property damage are also reviewed. Geico uses claim valuation software to calculate a proposed settlement payout. This system assigns values based on past claims and current injury types.
How Liability Affects Settlement Compensation
Georgia follows a modified comparative fault system under O.C.G.A. § 51-12-33. If the plaintiff is found partially at fault, Geico reduces the settlement amount based on their percentage of fault. If the plaintiff is 50% or more at fault, they cannot recover damages. This rule applies to all Geico insurance claims, including uninsured motorist claims and underinsured motorist coverage cases.
Policy Limits and Settlement Payouts
Geico settlement payouts are restricted by the policy limits of the automobile insurance policy issued to the at fault driver. These limits cap the amount Geico will pay for bodily injury and property damage. If medical expenses and other damages exceed these limits, the injured party may pursue additional compensation through other insurance companies or legal action.
What Happens After the Evaluation
Once the review is complete, the Geico adjuster makes an initial settlement offer. This offer may not reflect the fair market value of the injury claim. If the injured party accepts, Geico issues a settlement check and the case ends. If not, negotiations may continue. In some cases, legal proceedings follow if the parties cannot reach a fair settlement agreement.
What Factors Affect Geico Settlement Amounts in Georgia?
Several key factors determine the value of Geico settlement payouts for car accidents in Georgia.
Degree of Fault and Georgia Law
Geico reviews who caused the accident based on police reports, witness statements, and physical evidence. Georgia uses a modified comparative negligence rule. If the plaintiff is found to be 20% at fault, their settlement is reduced by 20%. If the plaintiff is 50% or more at fault, they cannot recover any compensation. This rule applies to all personal injury claims, including those involving uninsured motorists.
Type and Severity of Injuries
Geico pays more in cases involving significant injuries. The company reviews medical records to assess how serious the injuries are and how long the plaintiff treated. Injuries that require surgery, rehabilitation, or ongoing care usually result in higher settlement compensation. The plaintiff’s medical expenses and expected recovery time also affect the payout.
Medical Bills and Treatment History
The total amount of medical bills submitted plays a major role in how Geico values a personal injury claim. Geico adjusters look at the types of treatment received, the timeline of care, and whether the medical expenses are considered reasonable and necessary. Incomplete records or gaps in treatment can lead to a lower offer.
Lost Wages and Impact on Daily Life
If the accident caused the plaintiff to miss work, Geico includes lost wages in the claim evaluation. Proof of income and employer documentation are usually required. In some cases, long-term loss of earning capacity can increase the overall Geico settlement amount.
Property Damage and Vehicle Value
Geico considers the fair market value of the vehicle owned at the time of the accident. If the cost of repairs exceeds this value, Geico may declare the car a total loss and offer compensation based on its pre-accident condition. Damage to personal items inside the vehicle may also be included.
Insurance Policy Limits
The maximum Geico will pay depends on the limits of the automobile insurance policy issued to the at fault driver. If the policy limits are low, settlement compensation may not fully cover all losses. In such cases, the plaintiff may file an uninsured or underinsured motorist claim under their own insurance policy.
The Role of Policy Limits in Geico Settlement Offers
Policy limits set the maximum amount Geico will pay for an insurance claim after a car accident.
What Policy Limits Mean in a Settlement
A policy limit is the highest amount listed in an automobile insurance policy that Geico agrees to pay for certain types of damages. These include bodily injury, property damage, and in some cases, uninsured or underinsured motorist coverage. If a car accident claim exceeds the policy limits, Geico is not required to pay more than the maximum amount listed.
Bodily Injury and Property Damage Limits
Most insurance policies with Geico include two types of main coverage limits. Bodily injury coverage pays for medical expenses, pain and suffering, and lost wages of the injured person. Property damage coverage pays for the cost to repair or replace the damaged vehicle or other property. Georgia law requires drivers to carry minimum liability coverage, but those minimums are often not enough to cover serious injuries.
How Policy Limits Affect Settlement Compensation
Geico settlement payouts are directly affected by the policy limits in place. If the plaintiff’s injuries and financial losses exceed the limit, Geico will still only pay up to the maximum allowed. This can result in lower compensation than the plaintiff actually needs. In these cases, a personal injury attorney may look for additional sources of recovery, such as other insurance companies or personal assets of the at fault driver.
Using Uninsured or Underinsured Motorist Coverage
If the at fault driver carries little or no insurance, the injured party may file an uninsured motorist claim or underinsured motorist claim with their own auto insurance provider. This type of coverage is optional in Georgia, but it can help close the gap when Geico or another insurance company cannot pay the full value of the injury claim. Geico settlement offers under these policies are also subject to their own policy limits.
How a Georgia Car Accident Lawyer Can Maximize Your Geico Settlement
Hiring a Georgia car accident lawyer can improve your chances of receiving a fair Geico settlement payout.
Preparing a Strong Settlement Demand
A car accident attorney gathers all records needed to support the injury claim. This includes medical records, billing statements, accident reports, and proof of lost wages. The attorney calculates damages based on actual costs, future medical treatment, and pain and suffering. A well-organized settlement demand helps show Geico the real value of the claim.
Challenging the Initial Offer
Geico often starts with a low initial settlement offer. This offer rarely reflects the full cost of the plaintiff’s injuries or property damage. A car accident lawyer reviews the offer and pushes for a fair settlement. The attorney may provide expert opinions or additional documentation to counter Geico’s valuation.
Handling Communication with Geico
Insurance adjusters may use statements from the injured party to reduce or deny claims. A car accident attorney manages all communication with Geico to avoid these issues. This includes phone calls, emails, and written correspondence with the Geico adjuster or representative.
Filing a Lawsuit if Necessary
If settlement negotiations fail, a personal injury attorney can file a lawsuit. Filing a personal injury claim in court may increase pressure on Geico to offer a higher settlement. In Georgia, injury claims must be filed within two years under the statute of limitations. A lawyer ensures all deadlines are met and legal procedures are followed.
Pursuing Additional Insurance Coverage
If the at fault driver’s policy limits are too low, a car accident lawyer looks for other options. This may include filing an uninsured motorist claim or underinsured motorist claim under the plaintiff’s own automobile insurance policy. The attorney also reviews whether other insurance companies share liability.
Get the Settlement You Deserve with Help from The Weinstein Firm!
If you are dealing with Geico after a car accident, do not face the claims process alone. Our team at The Weinstein Firm has the experience to challenge low settlement offers and demand fair compensation for your injuries, lost wages, and property damage.
Contact us at 770-HELP-NOW for a free case consultation today!
