Posted January 5, 2022
GAP Provider Liability Realignment
Farmers Insurance had deemed our client’s 2017 Ford Mustang a Total Loss and offered him a settlement of $27,634.63. Farmers settlement pass through GAP Provider deductions left our client with a $3,785.65 lagging balance with their lender Bank of America after the GAP Benefit payment.
We successfully settled the claim for $34,228.00. The revised settlement satisfied our clients $3,785.65 liability and reduced the GAP Provider liability to $0.00.
Net settlement increase was $6,593.37 or 23.9%