Say goodnight, Gladys

[Sazabi19]

Just to make sure I'm reading this correctly: The OTHER DRIVER'S insurance is replacing your Gladiator with an equivalent one, right? No reason your insurance should be paying for this unless the other driver was uninsured... Which I don't think is likely considering the Jeep they were driving.

It wasn't the other guys Jeep, it was his sisters. He was uninsured but she has insurance. What will likely happen is doc's insurance will take on the burden initially and either have an agreement with her insurance or go after them for the damages (also common).

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[CerOf]

Other person could have state minimums. In every state, the minimum is not enough. All, I believe, are $25k or less.

 

[Klutch]

Seems whenever I talk to someone who got rear-ended or T-boned hard, the other driver was doing 100 MPH with no license, no insurance, no money and is in a borrowed vehicle. I suppose such people figure, "What have I to lose? I'll just drive like a maniac".

 

[Walter-new jeeper]

Seems whenever I talk to someone who got rear-ended or T-boned hard, the other driver was doing 100 MPH with no license, no insurance, no money and is in a borrowed vehicle. I suppose such people figure, "What have I to lose? I'll just drive like a maniac".

My wife as stuck in the middle of an intersection doing a right turn (entered on green, turned red before she could get all the way through), traffic had come to an unexpected stop before she could clear all the way into her lane. A driver got the green light and hit her while she was in that partial state. She was in the lane before he got the green light, just not 100%. He even gave an insurance card that showed current insurance. But when Geico went to start the claim against the other driver, turned out he was uninsured - he apparently never paid his premium.

 

[brianinca]

I specifically added replacement cost to my insurance, for three years it will let me get into the new equivalent of my truck in the event of something catastrophic / theft. It wasn't expensive to add, which is why buying gap insurance from the finance company isn't a good deal. Buy insurance from insurance companies, I figured.

I would only look at switching insurance companies based on how they treat you while handling this claim. GAP insurance usually comes from the lender, or the dealer offers it at the time of purchase. It pays what is left on the loan after the insurance payout for a totaled vehicle. Many insurance companies offer a full replacement option, but only for new vehicles, and it usually has to be added to the policy when the vehicle is purchased.

 

[doc-ketamine]

Just to make sure I'm reading this correctly: The OTHER DRIVER'S insurance is replacing your Gladiator with an equivalent one, right? No reason your insurance should be paying for this unless the other driver was uninsured... Which I don't think is likely considering the Jeep they were driving.

No, I started working with my insurer. They can go after the other party and their insurer to get reimbursed. I called my insurer (GEICO) to start the process before we were aware the other party even had insurance (as it wasn’t his car). If I should stop this process and contact State Farm it would be good to know!

 

[doc-ketamine]

This exactly. This is why you want gap insurance. People on here saying don't get it are playing the same odds game that the insurance company is and guess what, people lose on this every day. It's the same exact thing to me as regular insurance. Do I need it on a typical day (other than it's the law)? No. But I have it there JUST IN CASE. The extra fraction of a payment to have peace of mind on the road is way worth it to me, especially on something this expensive. If you walk in and pay for 1/2 the truck immediately, sure, it's not worth it, but if you're more normal like me and don't have equity in a vehicle to plunk down $20k-$30k+, then gap is probably a good bet for yo u.

Based on this, with today’s low finance rates, it seems silly to use a down payment at all. Finance the whole thing at 2%, save my cash and invest it at 5-10% return, get gap insurance, and let that pay off the loan if I get rear ended 3 months into the loan.

 

[doc-ketamine]

It wasn't the other guys Jeep, it was his sisters(?). He was uninsured but she has insurance. What will likely happen is his insurance will take on the burden initially and either have an agreement with her insurance or go after them for the damages (also common).

Yes, this, exactly this.

 

[Sazabi19]

@doc-ketamine Oh no, why did you change your profile pic? This is like putting a profile pic of your run-over dog on a pet forum lol. It's so sad, you should be showing the good times!

 

[Choatecav]

Sure sorry for you and can't imagine how bummed you are.
The "old" me would have said hope someone whups the hell outta the "impaired" driver.

But I'm kinder and gentler now...........................................not.

 

[SelfmodJT]

Could have been worse, you could have been just driving normally and your flywheel could of caught on fire for no reason.... I'm just sayin?

 

[DobaMark]

Huh. My interpretation was gap insurance would cover me in a situation like this (brand new car) to help me get an equivalent replacement. Guess what I really is those special "new car replacement policies" that Geico doesn't have.

Yes.
Gap (and equivalent replacement) only means you get what you had. If it's a year old with 20k miles on it, that's what they reimburse you for. Usually that means less than what it cost new so you'd have some out of pocket expense to buy a new truck.
New car replacement pays a bit more meaning you should be able to buy a brand new version of what was totaled.

A few years ago, I was driving a Dakota R/T when an idiot turned left in front of me. The other insurance tried to deny liability (boyfriend was driving her car when he wasn't allowed to, yeah right). My insurance paid the claim (minus my deductible) knowing the other insurance would ultimately pay. The offer from my insurance was very nice so I took it. Later they sued the other insurance company and i got my deductible back.

 

[Dqban]

you had insurance. let them handle the whole thing. Geico is essentially going to make sure you get paid...either they write you/repair shop/dealer a check and go after the other guy themselves or they will deal directly with insurance provider of the other car and the check will come from them.

If the other car's insurance does not provide enough coverage for repair/replace, you typically have 2 options. 1. cover the difference yourself. 2. YOUR insurance covers the remainder. Geico has the right to sue the driver for the rest, so do you if you cover it.
GAP coverage can help in this instance. (I usually calculate my minimum down payment as how much i need to avoid GAP).

Every state has different laws when it comes to fault, liability, percentage of coverage each party is responsible for ect...hence why wrote "typically"

My opinion, always let the insurance company handle everything...its what you paid them for. They have better lawyers and if the other driver is at fault they have financial incentive to go after them. The only time to get involved is when they low ball you on the amount....then you usually have the right to get your own adjuster.

Ive used statefarm for 20+ years. they have have never tried anything shady with me and always took care of everything ASAP with only 2-3 phone calls. They also provided me the cheapest coverage for my motorcycle...by far. Ive even done my auto loans through them and gotten good rates with additional discounts.

 

[doc-ketamine]

Geico is now telling me it will only cost $38500 parts and labor to fix this. I’m heartbroken. This vehicle needs to be replaced. And there is no way I will ever trust it again now can I sell it as it will have zero resale value.

Do I need to get a lawyer now?

GEICO has done me wrong.

 

[ALVagabond]

That's what geico is saying or is that what the shop is saying? Because when they actually start taking it apart, they're probably going to find more wrong with it and that cost is gonna creep up.

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