Posted March 1, 2022
GAP Provider Liability Realignment
Geico Insurance had deemed our client’s 2018 Honda Accord a Total Loss and offered him a settlement of $24,582.06. Geico settlement pass through GAP Provider deductions left our client with a $1,644.00 lagging balance with their lender Security Services FCU after the GAP Benefit payment.
We successfully settled the claim for $27,870.50. The revised settlement satisfied our clients $1,644.00 liability. NO GAP Benefit was applied originally.
Net settlement increase was $3,288.44 or 13.4%