Posted March 4, 2022
Our client’s 2016 Dodge RAM 1500 was involved in a rear-front collision. Our client filed a collision claim with their carrier Progressive Insurance for the loss. Progressive issued a loss statement/repair estimate for $5,175.71 before the deductible. Our clients certified collision facility issued a preliminary loss statement/repair plan for $8,063.94 to return 2016 Dodge RAM 1500 to its pre-loss condition. Our client came to us for assistance with the $2,888.23 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 Progressive independent 3rd party appraiser for $7,250.00 as the loss statement/ repair cost to return our clients 2016 Dodge RAM 1500 back to its pre-loss condition.
The final binding agreement between the unbiased independent appraisers identified an under-indemnification of the loss of $2.074.29 or 40% from the Progressive loss statement/repair estimate of $5,175.71. Through the invoking of the Progressive policy right of appraisal our client has been made whole for their loss with no out-of-pocket expense other than their deductible