My car was stolen on October 21st of this year and I’m having a lot of issues with Geico paying off my car. Not only has it been 42 days and I’m just now receiving a phone call about the value of my car, but at the beginning of this process I was told that after 20 days this would be taken care of. I never received a phone call so I personally took it upon myself at 30 days to contact my agent, and told her that my car was never found. She told me she’d send off my file to Total Loss Claims that day. Well, 10 days later I never heard anything so I called back..and she tells me she is JUST now sending in my claim. She said the file came back rejected because THEY forgot to scan a few of my files I had to send in as a package.In turn I have paid 2 car payments already on a car I don’t even have and they only covered 200 dollars worth of stuff stolen out of my car – which barely paid for my kids car seat!
So, today I finally get a phone call from a Total Loss Claims agent to talk about the value of my car. It was in perfect condition and was a 2006 Scion xB Special Release Series 3.0 with 48,000 miles, give or take a few hundred. I KBB on my own and it ranged inbetween 13,000-15,000 depending on the miles and the area. Well, Geico is trying to only give me 12, 661.84 which is BELOW what I still owe on it! I contacted Toyota for a pay off and it was 12,686.04 but even though it is barely any money in between they also will be taking out 500 dollars for a comprehensive deduction. I just don’t see how this is fair considering I’ve already paid 920 dollars over the past 40 days in car payments and now I’m looking at also paying another 520 on it as well! As this point I’ll be making yet another car payment, not receiving any money to help get me into another car and I’m SCREWED. I’ve been without a car already for over 40 days!
What should I do? I made the agent go back and re value our car because I told her that on KBB.com it came back with a way higher value than what they were trying to give me and she said she had no idea what a "Special release series 3.0" meant. I told her that every year they make 2 series that have special stuff in or on them (ours had a special motor, 1,500 dollar paint job, special tail lights, neon lights, sports package around the bottom of the car and carbon fiber on the cars..). I’m just really irritated at this point and don’t know what to do..
Sorry this was so long..
Opps, it is a Special Release Series 4.0 I obviously do not know what or how car value of a car is determined. Can anyone point me in that direction? And yes, I wish I had GAP insurance but they would’ve almost doubled our car payment a month and I don’t see how anyone could expect me to pay 800+ dollars a month for a car.
I wish I could reply to some of you but that isn’t an’ option…
How can they determine threat count on a car that was STOLEN and never returned? Or seats, or anything for that matter. That doesn’t make any sense to me. They did get a letter from Toyota service department where we took our car for all the oil changes, brakes, etc about the condition of the car which was excellent.
Last update:
To the last person who THINKS they know a lot about insurance, you need to do a lot of research before you post know-it-all answers.
A. Car insurance DOES cover what was stolen WITH the car, since obviously I was given 200 dollars for a car seat that was inside the car. Different types of insurance covers different amounts.
B. KBB.com DOES offer a fair value market pricing since I was contacted by Geico this afternoon and given a 14,011.84 offer for my car, which on KBB.com values for 14,590.57. Did you not read that it was a SPECIAL RELEASE SERIES 4.0? I would never sell my car for 11,000 dollars.
C. I was never upset about paying the deductible, just stated how much it took away from the first offer on my car.
D. She was a claims agent, not a personal agent. And I DO have an’ agent who I privately deal with, and have for many years with my insurance.
E. Never borrowed more than the car was worth, bought it brand new. You suck at facts.