Our client’s 2018 RAM 3500 was damaged. Our client filed a collision claim with their carrier Progressive Insurance for the loss. Progressive issued a loss statement/repair estimate for $5,332.35 before the deductible. Our client’s collision facility issued a preliminary loss statement/repair plan for $12,852.65 to return 2018 RAM 3500 to its pre-loss condition. Our client came to us for assistance with the $7,520.30 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 Progressive independent 3rd party appraiser for $10,333.26 as the loss statement/ repair cost to return our clients 2018 RAM 3500 back to its pre-loss condition.
The final binding agreement between the unbiased independent appraisers identified an under-indemnification of the loss of $5,313.47 or 93.8% from the Progressive loss statement/repair estimate of $5,332.35. 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.