Our client’s 2016 Chevrolet Traverse was damaged. Our client filed a collision claim with their carrier Geico Insurance for the loss. Geico issued a loss statement/repair estimate for $4,936.10 before the deductible. Our client’s collision facility issued a preliminary loss statement/repair plan for $8,502.06 to return 2016 Chevrolet Traverse to its pre-loss condition. Our client came to us for assistance with the $3,565.96 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, Vehicle Value Experts came to a binding agreement with the Geico independent 3rd party appraiser for $7,784.09 as the loss statement/ repair cost to return our clients 2016 Chevrolet Traverse back to its pre-loss condition.
The final binding agreement between the unbiased independent appraisers identified an under-indemnification of the loss of $3,025.99 or 57.7% from the Geico loss statement/repair estimate of $4,936.10. 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.