Like many of you know by now I crashed my brand new Toyota Camry. And now I am on the painful insurance claim process. The accident happen on Thursday around 6:30pm and I called Geico Auto Insurance around 7:45pm. The service rep was really nice and efficient. He gather all the information and the transferred me to a provisional Liability agent that recorder my statement. I had the car towed to a collision center for a $160 fee. The next day I got a call from my assigned liability agent. She asked for the vehicle location and the phone number of the other vehicle owner and told me that an adjuster will be assigned to my case and that I should hear from him soon. That same day I got en email with my adjuster information. I also got another call from the Liability agent telling me that the adjuster should be seen the car by the beginning of next week. Here is were I get all frustrated. Monday is a holiday so the adjuster won't see the car until at least Tuesday that will be day 5 without a car. And because I was a dumb I refuses the rental reimbursement option of my policy to save $140. Well that will had come really handy now. If I rent a car for a week it will cost me at leas $215 for a compact car at Enterprise I heard I will get a discount fro being insured with Geico but I don't have and idea of how much. Probably a mere 15%. I believe my car will be declared total loss and if not I will be so mad. This are the 2 possible scenarios.
The car is declared fixable and I have to pay a $1000 deductible. The car will be in the shop for weeks and I will be on a rental at $215 per week. Over this I will still be responsible for my car payments.
The second scenario is the one I hope happens. The car is declared a total loss and Geico pay the bank the cash value of the car. If the amount Geico pays the bank is less of what I own the the Gap Insurance that I purchased on the dealer for $400 will kick in and pay any difference plus it will also pay my $1000 deductible and give me $750 toward a new car down payment. How sweet that sound.
But all this is subjective as I have to wait and see how Geico deals through all the process that had taken so many hours of sleep so far.
I will recommend any one to have rental reimbursement and Gap Insurance so that you can sleep better than I am doing. I will keep you posted of the coming days events and let see how all go.
JM