Our client’s 2015 Dodge RAM 3500 was damaged. Our client filed a collision claim with their carrier Geico Insurance for the loss. Geico issued a loss statement/repair estimate for $7,932.02 before the deductible. Our client’s collision facility issued a preliminary loss statement/repair plan for $12,138.21 to return 2015 Dodge RAM 3500 to its pre-loss condition. Our client came to us for assistance with the $4,206.19 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 Geico independent 3rd party appraiser for $11,408.29 as the loss statement/ repair cost to return our clients 2015 Dodge RAM 3500 back to its pre-loss condition.
The final binding agreement between the unbiased independent appraisers identified an under-indemnification of the loss of $3,693.54 or 43.8% from the Geico loss statement/repair estimate of $7,932.02. Through the invoking of the Geico policy right of appraisal our client has been made whole for their loss with no out-of-pocket expense other than their deductible.