Our client’s 2017 GMC Yukon was damaged. Our client filed a comprehensive claim with their carrier TX Farm Bureau Insurance for the loss. TX Farm Bureau issued a loss statement/repair estimate for $14,282.77 before the deductible. Our client’s collision facility issued a preliminary loss statement/repair plan for $23,955.52 to return 2017 GMC Yukon to its pre-loss condition. Our client came to us for assistance with the $9,672.75 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 TX Farm Bureau independent 3rd party appraiser for $18,277.45 as the loss statement/ repair cost to return our clients 2017 GMC Yukon back to its pre-loss condition.
The final binding agreement between the unbiased independent appraisers identified an under-indemnification of the loss of $4,244.35 or 28.00% from the TX Farm Bureau loss statement/repair estimate of $14,282.77. Through the invoking of the TX 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.