Our client’s 2011 Ford F-150 was damaged. Our client filed a comprehensive claim with their carrier Farmers Insurance for the loss. Farmers issued a loss statement/repair estimate for $8,538.91 before the deductible. Our client’s collision facility issued a preliminary loss statement/repair plan for $13,537.28 to return 2011 Ford F-150 to its pre-loss condition. Our client came to us for assistance with the $4,998.37 under-indemnification and out-of-pocket expense to safely return their vehicle to its pre-loss OEM condition.
As a result of going through the appraisal process in the policy, our subsidiary Vehicle Value Experts came to a binding agreement with the Farmers independent 3rd party appraiser for $13,537.28 as the loss statement/ repair cost to return our clients 2011 Ford F-150 back to its pre-loss condition.
The final binding agreement between the unbiased independent appraisers identified an under-indemnification of the loss of $4,998.37 or 58.5% from the Farmers loss statement/repair estimate of $8,538.91. Through the invoking of the Farmers policy right of appraisal our client has been made whole for their loss with no out-of-pocket expense other than their deductible.