Posted March 14, 2022
Our client’s 2017 Toyota Highlander was involved in a rear-end collision. Our client filed a collision claim with their carrier Geico Insurance for the loss. Geico issued a loss statement/repair estimate for $1,292.30 before the deductible. Our clients certified collision facility issued a preliminary loss statement/repair plan for $12,900.00 to return 2017 Toyota Highlander to its pre-loss condition. Our client came to us for assistance with the $11,607.70 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 Geico independent 3rd party appraiser for $12,900.00 as the loss statement/ repair cost to return our clients 2017 Toyota Highlander back to its pre-loss condition.
The final binding agreement between the unbiased independent appraisers identified an under-indemnification of the loss of 11,607.70 or 898% from the Geico loss statement/repair estimate of $1,292.30. 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