Posted November 4, 2020
GAP Provider Liability Realignment
Geico Insurance had deemed our client’s 2015 Toyota Camry a Total Loss and offered him a settlement of $15,001.50. Geico settlement pass through GAP Provider deductions left our client with a $1,209.00 lagging balance with their lender Fifth Third Bank after the GAP Benefit payment.
We successfully settled the claim for $16,289.25. The revised settlement satisfied our clients $1,209.00 liability and reduced the GAP Provider liability $175.00 or 5%.
Net settlement increase was $1,287.75 or 8.6%