Question
What is the statute of limitations for filing a GEICO claim?
We have GEICO insurance coverage for my truck, and we live in a wooded area of Vermont. We were driving home and came around a bend when we saw three adult deer and a fawn in the middle of the road. Either I would hit them, or veer off the road, which is what I did. I haven't called GEICO about the accident yet, and was wondering whether there's a time limit to file a claim.
Answer
It's important to reach out to GEICO to see what their specific requirements are. Each company has different rules around this, but Vermont requires that you file a claim within three years of the incident. Most companies require you to report any incident (whether you file a claim or not) as soon as possible. The accident would be covered under your collision coverage, and your deductible will apply.
If you had hit the family of deer, this would be covered under your comprehensive coverage. Since it will be covered by collision, this is considered an at-fault accident. At-fault accidents can stay on your record for up to three to five years, so after making the claim, your insurance rates will likely increase at renewal. There may be a surcharge on your policy for the next several years, but the amount differs by company and claim type. If you have a good driving record and this is your first claim, it may not result in a huge increase.
Below are our cost estimates for the premium you should expect after filing a claim in Vermont. Â
| Year After Accident | Average Annual Premium |
|---|---|
| 0 - No Accident | $1,027 |
| 1 Year Later | $1,378 |
| 2 Years Later | $1,729 |
| 3 Years Later | $2,080 |
Because of this, I recommend getting an estimate for the repairs prior to filing a claim. If the value of the repairs is less than the rate increase you would receive plus your deductible (so, $2,080 + $500 to $1,000), I recommend repairing the vehicle yourself. check our handy claims calculator to help you decide if filing a claim with GEICO is worth it in this instance.
Good luck, and if you have any further questions, don't hesitate to ask.
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