GAP Provider Liability Realignment
Farmers Insurance had deemed our client’s 2016 Ford Explorer a Total Loss and offered him a settlement of $20,069.63. Farmers settlement pass through GAP Provider deductions left our client with a $1,403.00 lagging balance with their lender GM Financial after the GAP Benefit payment.
We successfully settled the claim for $22,664.25. The revised settlement satisfied our clients $1,403.00 liability and reduced the GAP Provider liability $55.07 or 10.5%.
Net settlement increase was $2,594.64 or 12.9%