Personal Injury and Property Damage Insurance: Avoid GEICO

As a personal injury attorney, with 20 years of experience, I am constantly asked by clients, what insurance company I recommend.    Attorneys may be biased in the sense that we are usually arguing with insurance adjusters and generally at opposing ends of claims.   However, aside from the usual negative aspects, there are insurance companies that fairly evaluate and expeditiously resolve claims.   However, insurance companies change.   Earlier in my carrier, I was able to resolve and negotiate many claims with Farmers.   As time progressed, Farmers became a horrible insurance company.  We sued and attained numerous judgments against individuals who had Farmers insurance.   As time passed, Farmers once again became little better.  The lawsuits diminished.   Thus I would recommend Farmers in the 1990’s, I would definitely tell you to avoid Farmers in the 2000’s, and would tell you to consider them “cautiously” today.   Thus, my response to clients who want me to recommend an insurance company is simply this: “I will not recommend one because they are constantly changing and there are many good ones out there, but I will tell you which ones, in my opinion, you should currently avoid.”     My basis for avoiding an insurance company is not based solely on one or two cases, its based upon a review of numerous articles and numerous discussions with other attorneys in the field.

Currently, in my opinion, the insurance company you want to avoid is GEICO.   They may be cheaper, but I find they are not handling their claims professionally and they are not being fair to the injured claimants or their own insureds.   If you save a few bucks, and then end up being sued because your insurance refused to make a fair settlement offer to an injured claimant, you too will be impacted.  GEICO does not care.   Going to court only delays them having to pay.  Moreover, in Nevada,  GEICO has in-house counsel.   Thus, their litigation costs are limited.  But you will have to take time off work to appear for depositions, arbitration, court, etc.   Moreover, if you do not win the lawsuit, you will have a judgment entered against you which can impact your credit score.   GEICO will eventually pay the judgment, but GEICO will not compensate you for the lost time or the possible negative impact on your score.

I recommend you see current reviews of people who have GEICO and were happy with them until a claim was filed.   Do your own research.    But as for my clients, I will do anything I can to avoid placing them in the position GEICO tends to places their own insureds.   That little gecko is laughing his way to the bank and the more people that move away from GEICO, the more GEICO will be willing to change.  Hopefully, in the right direction.   I hope one day GEICO becomes an okay insurance company to proceed “cautiously” with.   But for now, AVOID GEICO.