Our client’s 2019 Ford F-150 was damaged. Our client filed a comprehensive claim with their carrier Texas Farm Bureau Insurance for the loss. Texas Farm Bureau issued a loss statement/repair estimate for $16,573.85 before the deductible. Our client’s collision facility issued a preliminary loss statement/repair plan for $27,079.19 to return 2019 Ford F-150 to its pre-loss condition. Our client came to us for assistance with the $10,505.34 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 Texas Farm Bureau independent 3rd party appraiser for $21,200.00 as the loss statement/ repair cost to return our clients 2019 Ford F-150 back to its pre-loss condition.
The final binding agreement between the unbiased independent appraisers identified an under-indemnification of the loss of $4,626.15 or 27.9% from the Texas Farm Bureau loss statement/repair estimate of $16,573.85. Through the invoking of the Texas 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.