A website has been established for a $27 million GEICO total loss class action settlement benefiting Florida drivers.
While the website is live, it is not accepting claims yet. Top Class Actions will provide claim filing instructions as soon as they become available.
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The GEICO total loss class action settlement resolves claims that the insurance company violated their contracts by failing to fully pay total loss settlements to consumers.
The company reportedly didn’t compensate policyholders for title transfer fees and license plate transfer fees, which the drivers claim is part of the actual cash value.
A federal judge determined in the case that these fees should be included in the actual cash value and that GEICO needed to face the claims against them. Based on this, the court found GEICO liable in a summary judgement ruling and ordered the company to pay consumers $79.35 each.
“Courts have found that replacement cost includes items such as a contractor’s overhead and profit, sales tax, and fees where it is ‘reasonably likely’ that the insured would incur these costs if he or she repaired or replaced the property,” Judge Paul G. Byron determined.
Following the summary judgment against them, GEICO has agreed to settle the drivers’ claims by paying into a $27 million GEICO total loss class action settlement.
The settlement benefits the following consumers:
- Florida residents who were insured by Government Employees Insurance Company or GEICO General Insurance Company for an owned (not leased) vehicle and were awarded a total loss claim payment between May 17, 2012 and April 4, 2019;
- Florida residents who were insured by GEICO Indemnity Company for an owned (not leased) vehicle and were awarded a total loss claim payment between Oct. 10, 2012 and April 4, 2019.
Under the GEICO total loss class action settlement, Class Members will be able to recover full payments owed to them. The payments are expected to be $79.85 – covering $75.25 in title transfer fees, $4.10 in tag transfer fees, and $0.50 in branch fees.
In the GEICO total loss class action settlement’s preliminary approval motion, the plaintiffs note that these payments will be $0.50 more than the payments which would have resulted from the summary judgement order due to the inclusion of branch fees.
In order to receive compensation from the GEICO total loss class action settlement, Class Members need to file a valid Claim Form by July 21, 2020. They will reportedly have until May 22, 2020 to opt out of the settlement or object to its terms.
Are you eligible for the recently established GEICO total loss class action settlement? Let us know in the comment section below.
The drivers and settlement Class Members are represented by Edmund A. Normand and Jacob L. Phillips of Normand Law PLLC, Bradley W. Pratt of Pratt Clay LLC, Tracy L. Markham of Southern Atlantic Law Group PLLC and Christopher J. Lynch.
The GEICO Total Loss Class Action Lawsuit is Sullivan, et al. v. Government Employees Insurance Co., Case No. 6:17-cv-00891, in the U.S. District Court for the Middle District of Florida.
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Please note: Top Class Actions is not a settlement administrator or law firm. Top Class Actions is a legal news source that reports on class action lawsuits, class action settlements, drug injury lawsuits and product liability lawsuits. Top Class Actions does not process claims and we cannot advise you on the status of any class action settlement claim. You must contact the settlement administrator or your attorney for any updates regarding your claim status, claim form or questions about when payments are expected to be mailed out.