{"id":2765,"date":"2025-10-31T14:04:41","date_gmt":"2025-10-31T14:04:41","guid":{"rendered":"https:\/\/www.insuracarelife.com\/blog\/geico-faces-claims-it-underpaid-ohio-total-loss-settlements-with-hidden-deductions\/"},"modified":"2025-10-31T14:04:41","modified_gmt":"2025-10-31T14:04:41","slug":"geico-faces-claims-it-underpaid-ohio-total-loss-settlements-with-hidden-deductions","status":"publish","type":"post","link":"https:\/\/www.insuracarelife.com\/blog\/geico-faces-claims-it-underpaid-ohio-total-loss-settlements-with-hidden-deductions\/","title":{"rendered":"GEICO faces claims it underpaid Ohio total loss settlements with hidden deductions"},"content":{"rendered":"<div>\n<p paraeid=\"{8211c837-05d5-4cf5-8c91-b6340ef93c50}{173}\" paraid=\"405961710\">The policyholders argue this violates both their insurance contracts and Ohio regulations governing total loss settlements. Their policies promise to pay actual cash value, defined as &#8220;determined by the market value, age, and condition of the vehicle or property at the time the loss occurs less depreciation or betterment.&#8221; Betterment, the policies state, means &#8220;improvement of the auto or property to a value greater than its pre-loss condition.&#8221; Depreciation means &#8220;a decrease or loss in value to the auto or property because of use, disuse, physical wear and tear, age, outdatedness or other causes.&#8221;\u00a0<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>The policyholders argue this violates both their insurance contracts and Ohio regulations governing total loss settlements. Their policies promise to pay actual cash value, defined as &#8220;determined by the market value, age, and condition of the vehicle or property at the time the loss occurs less depreciation or betterment.&#8221; Betterment, the policies state, means &#8220;improvement [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":2766,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[263,1691,410,1268,1690,1312,1687,1689,1688,1686],"class_list":["post-2765","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog","tag-claims","tag-deductions","tag-faces","tag-geico","tag-hidden","tag-loss","tag-ohio","tag-settlements","tag-total","tag-underpaid"],"_links":{"self":[{"href":"https:\/\/www.insuracarelife.com\/blog\/wp-json\/wp\/v2\/posts\/2765","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.insuracarelife.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.insuracarelife.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.insuracarelife.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.insuracarelife.com\/blog\/wp-json\/wp\/v2\/comments?post=2765"}],"version-history":[{"count":0,"href":"https:\/\/www.insuracarelife.com\/blog\/wp-json\/wp\/v2\/posts\/2765\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.insuracarelife.com\/blog\/wp-json\/wp\/v2\/media\/2766"}],"wp:attachment":[{"href":"https:\/\/www.insuracarelife.com\/blog\/wp-json\/wp\/v2\/media?parent=2765"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.insuracarelife.com\/blog\/wp-json\/wp\/v2\/categories?post=2765"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.insuracarelife.com\/blog\/wp-json\/wp\/v2\/tags?post=2765"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}