REPAIR PROCEDURE ISSUE:
Our client’s 2016 Ford Mustang was damaged. Our client filed a collision claim with their carrier Texas Farm Bureau Insurance for the loss. Texas Farm Bureau issued a loss statement/repair estimate for $8,031.29 before the deductible. Our client’s collision facility issued a preliminary loss statement/repair plan for $14,213.05 to return 2016 Ford Mustang to its pre-loss condition. Our client came to us for assistance with the $6,181.76 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 Texas Farm Bureau independent 3rd party appraiser for $12,100.00 as the loss statement/ repair cost to return our clients 2016 Ford Mustang back to its pre-loss condition.
The final binding agreement between the unbiased independent appraisers identified an under-indemnification of the loss of $4,323.00 or 50.7% from the Texas Farm Bureau loss statement/repair estimate of $8,031.29. Through the invoking of the Texas Farm Bureau policy right of appraisal our client has been made whole for their loss with no out-of-pocket expense other than their deductible.