REPAIR PROCEDURE ISSUE:
Our client’s 2019 GMC Sierra 1500 was damaged. Our client filed a claim with their carrier Geico Insurance for the loss. Geico issued a loss statement/repair estimate for $17,731.23 before the deductible. Our client’s collision facility issued a preliminary loss statement/repair plan for $29,491.29 to return Geico to its pre-loss condition. Our client came to us for assistance with the $11,760.06 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, Vehicle Value Experts came to a binding agreement with the Geico independent 3rd party appraiser for $27,919.35 as the loss statement/ repair cost to return our clients 2019 GMC Sierra 1500 back to its pre-loss condition.
The final binding agreement between the unbiased independent appraisers identified an under-indemnification of the loss of $10,188.12 or 57.5% from the Geico loss statement/repair estimate of $17,731.23. Through the invoking of the Geico policy right of appraisal our client has been made whole for their loss with no out-of-pocket expense other than their deductible.