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Attorneys For Chicago Auto Accident Claims With Geico Insurance
Attaining extraordinary fame largely because of the entertaining popularity of a small gecko, Geico Insurance has gained the attention of the nation with revolutionary marketing tactics. However, if you are involved in a Chicago auto accident with Geico insured you may be in for a rude awakening.
Rosenfeld Injury Lawyers LLC knows the frustration many people face when attempting to deal with Geico following a Chicago car accident. As attorneys who have handled thousands of Illinois auto accident claims, we invite you to speak to an attorney without cost to you to discuss your Geico injury claim. Let our team handle the negotiations while you focus on your recovery.
Probably because of all the attention it has generated from its advertising antics over the last decade, Geico Insurance has jumped to the forefront of insurance carriers with marketing visibility and recognition. However, this increased presence has created problems as well including the costly issues involving litigation. Since 2005, Geico Insurance has been sued thousands of times in filed cases that have covered a myriad of issues and injuries in numerous legal areas including:
- Insurance
- Products Liability
- Employment and Labor
- Real Property
- Corporate Governance
Reviewing a snapshot at the national level over the last ten years reveals how successful plaintiffs have been against Geico Insurance in litigation in obtaining jury awards and out of court settlement. Nearly 2500 cases have been won or settled with the insurance carrier in a decade. Unlike the traditional bell curve commonly associated with jury awards and settlement amounts (with outlier numbers on the lower and higher end and most average cases of recovery dollar amounts), plaintiffs generally fared poorly against Geico Insurance.
Approximately sixty percent (60%) of all plaintiff recovered less than fifty thousand dollars ($50,000.00) in settling or winning their lawsuit. Another quarter of all plaintiffs recovered between fifty thousand dollars ($50,000.00) and five hundred thousand dollars ($500,000.00). Lastly, only a mere eight percent (8%) recovered more than five hundred thousand dollars ($500,000.00).
Separating insurance lawsuits against Geico Insurance from the rest of the field reveals a downward trend that repeats itself with jury awards and settlement amounts. These cases accounted for nearly a quarter of all Geico cases. Within this category, plaintiffs again had little luck. Twenty-two percent (22%) gained no financial recovery at all; forty-six percent (46%) gained under one hundred thousand dollars ($100,000.00); twenty-five percent (25%) gained up to one million dollars ($1,000,000.00); and approximately six percent (6%) gained more than one million dollars ($1,000,000.00).
National cases about automobile cases filed against Geico reveal a strikingly high number of plaintiffs who received nothing: twenty-five percent (25%). Even more, thirty-nine percent (39%), of plaintiffs received less than fifty thousand dollars ($50,000.00). Lastly, the smallest segment, three percent (3%), of plaintiffs received more than one million dollars. The following summary lists key points regarding jury awards and settlement amounts against Geico Insurance at the national level:
- Generally, all awards and settlement figures followed a downward-sloping trend.
- Many plaintiffs received nothing at all. However, this number is lower in the insurance and automobile categories compared to others.
- Insurance and automobile cases account for a significant bloc of all cases filed against Geico Insurance.
Perhaps surprisingly, many lawsuits against Geico Insurance are filed in Illinois in a predictable pattern of jury awards and settlement amounts that resembles that of the nation as a whole. Obviously, the downward trend of low payout is unfortunate for victims. Of all the litigation in cases involving Geico in Illinois, most plaintiffs received nothing at all (28%) or less than fifty thousand dollars (45%). The next largest bloc of recovery-at fifteen percent (15%)- received between one hundred thousand dollars ($100,000.00) and one million dollars ($1,000,000.00). Finally, those earning more than one million dollars ($1,000,000.00) represented only six percent (6%) of all cases.
Even after isolating insurance and automobile cases from the rest of the pack, the downward trend remains the same. The bloc of plaintiffs (28%) who received nothing is only half as many than the bloc of plaintiffs (55%) who received less than fifty thousand dollars.
Generally, insurance cases did present a slightly rosier picture than those in the automobile category, where twenty-six percent (26%) recovered more than fifty thousand dollars ($50,000.00) compared to a grim three percent (3%) for automobile plaintiffs. To summarize, here are some key points regarding Illinois jury awards and settlement amounts against Geico Insurance:
- Illinois jury awards and settlement amounts account for a significant bloc of Geico’s total litigation history over the last ten years.
- Illinois jury awards and settlement amounts follow a similar downward trend compared to national figures.
- Plaintiffs in automobile cases faced the harshest outcomes compared to insurance or other categories.
The foregoing should demonstrate that you need an experienced attorney to fight your case. The clock starts ticking immediately after the incident occurs. Every moment to file a claim or lawsuit counts because gathering evidence and talking to eyewitnesses can be crucial to maximizing your jury award or negotiated settlement. Call us today to hear about how we can help you work with Geico to obtain the financial compensation you deserve. For more information about Geico visit www.geico.com and for (auto) claims, visit their website, call, or mail your correspondence to the following address:
GEICO
ATTN: Region 3 Underwriting
PO BOX 9105
Macon, GA 31208-9105
