Auto Insurance Claims: stolen car claim

Question
Claim Guy

I filed a stolen car claim.  car was found and totaled, 2002
sebring $2500 value. Geico sent me a EUO letter and suspects my claim is false, if I drop the claim what are the consequences from geico.  

will they try to legally prosecute me?  will they drop me or
raise my rates?

if i drop the claim does that cancel the EUO meeting?


1.  what are these Geico euo examinations like?

2.   should i hire an attorney, i'm not that good at being
    questioned by people.  i think its an anxious setting.

    whats your experience?  Im 69, disabled veteran and i
    dont need the stress.  im in florida and the eou meeting
    is Jan 14, 2016.

    thanks for your time and advice.  Merry Christmas !  joe

Answer
If you drop the claim, they cannot make you attend an EUO.  The policy requires that you cooperate with their investigation and submit to the EUO as part of the claim process only.  Refusal to cooperate could result in denial of the claim.

The EUO process is almost the same as a deposition.  A court reporter records everything that is said on a transcript.  You are sworn in to tell the truth, like testifying in court.  They will ask a lot of questions about your finances and what happened the day of the theft.  If you attend, try to relax as much as possible and just tell the truth.  if you do not know something for certain, say that.  Only say things you are sure of, because you don't want to make a mistake by guessing as that could be used against you later.

Geico cannot prosecute you.  However, if they have good faith reason to conclude you committed fraud, they would be obligated to report this to law enforcement.  Attending the EUO might or might not affect this, depending on the curcumstances.

I'm not sure whether this would affect your rates or possible cancellation.  Depends on what evidence they have or don't have.  If you are innocent there should be nothing to worry about.

Do you need a lawyer?  That is a personal decision.  Depends on the circumstances, why they are suspicious, and what evidence is involved.