Last week a federal judge sided against Geico in an ongoing Florida lawsuit. According to court documents, Florida drivers who totaled their cars are entitled to title and license plate fees from the insurance company. The judge mentioned the payments were a part of the vehicles’ replacement costs under the insurer’s policy in the decision.
The plaintiffs and class members are entitled to about $80 in damages 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,” said Judge Paul G. Byron.
