Parked car totalled

[Flack]

What is the name of your state? Illinois

My car was parked on the street in front of my house during Thanksgiving weekend. When I returned home from holiday, I found it had been smashed into by another vehicle. My car then struck another car, which hit another car in front of it. A police report was left on my windshield, and it indicated the driver had fell asleep at the wheel and he was determined to be at fault for the damage. I had dropped collision from my coverage in May 2007, as my car was an old Volvo with high mileage. As a result, I am on my own to resolve this matter. I have been in contact with GEICO, the guilty party's insurance company, numerous times and they have determined that my car is a total loss. However, the guilty party only has $15k in property damage coverage, the minimum coverage required in Illinois. GEICO will not settle the claim until all parties involved in the accident are contacted and their vehicles are inspected. Two of the three vehicle owners (me and the owner of the car in front of mine) have reported the crash, however, we are waiting for the third owner to contact GEICO.

I am concerned that I am going to have pay the storage fees for my vehicle if this continues to drag on, as I was informed by GEICO that the storage fees for my vehicle and the other owner who was involved in the accident are working towards the $15k of property damage coverage. Here are my questions:

1. If the damage and misc. costs exceed the guilty party's coverage, will I be required to pay the storage fees to have the car released from the storage facility? Or, can I have the storage company bill the guilty party directly for any additional costs?

2. Can I take the owner to small claims court before there has been a settlement offer?

3. How long does the owner of the third vehicle have to come forward and report their damages?

4. I obtained a copy of the police report - which I provided to GEICO to expedite the claims process. Should I contact the guilty party directly and offer him a settlement? My thinking here is that if this drags on for months, he is going to be personally responsible for a ton of money in storage fees and other misc. costs.

5. Are there any other steps I should be taking to speed along the process?

I certainly appreciate any help or advice anyone of you can provide. My obvious concern is that I have not only lost my car, but will also lose money on this accident.

Matt

 

[ecmst12]

If your car had been designated a total loss, Geico should have it moved to a salvage yard that does not charge for storage. If they have not done this (which I would find hard to believe), have them do so ASAP. If they can't, then YOU should mitigate your damages by having it moved to a neutral location. Receipts for any out of pocket expenses should be submitted to Geico.

They absolutely cannot pay your loss until all bills are in. If the policy has to be pro rated because limits are exceeded, that can't be done without the total amount being known. If you want to speed things along, you can contact the owner of the third car and ask them to contact Geico. Don't expect a quick resolution. If any of the other cars are TL and the owners are going through collision coverage for them, it will take at least 30 days for the salvage to be completed so their carriers can submit their claims.

 

[Zigner]

Sue the at-fault driver for your loss.

 

[Flack]

Thank you both for all of your help.

As far as a lawsuit, can I begin that process immediately or do I have to wait for the insurance company to offer a settlement.

 

[Zigner]

Thank you both for all of your help.

As far as a lawsuit, can I begin that process immediately or do I have to wait for the insurance company to offer a settlement.

You've been waiting over a month for an offer...I think that's more than enough time.

 

[ecmst12]

You can sue, if your damages are within the small claims limit, but that's going to cost you more money and it's not going to make them pay any sooner. They have already accepted fault. They CAN NOT pay anyone until they know the FULL VALUE of the claim. If the owner has minimum coverage, you're not going to get anything out of him personally either. Until they know whether there is enough money on the policy to cover everything, they can't pay anyone. The reason is, claims are not paid on a first come, first serve basis. If the claim needs to be prorated, then ALL claimants need to be pro-rated. They can't pay 100% of the first guy's claim and only half of everyone else's. When claims go over the limits due to multiple claimants, then the policy limits are divided according to what percentage of the total damage each person is claiming. So even if you receive a judgement for the full amount of your damages, you will not get a check from the insurance company until all claims are received and any needed prorating is done. Then you can try collecting any excess from the driver directly - but don't hold your breath, either.

 

[You Are Guilty]

There are still at least two major benefits of reducing the claim to a judgment. One, even if the carrier doesn't pay the judgment right away, it still sits there accruing statutory interest, which you do not get while waiting for a claim to be paid (and court costs are included in that). Two, if anyone else files suit, OP's, being filed first, has priority. That frequently can be beneficial.

Another intangible is that by filing suit, it may change the adjuster's perception of the OP from "pushover with crappy car" to "annoying pain in my side who I want to get rid of with a crappy car".