REPAIR PROCEDURE ISSUE:
Our client’s 2019 Lexus ES 350 was damaged. Our client filed a claim with their carrier Foremost Insurance for the loss. Foremost issued a loss statement/repair estimate for $8,652.68 before the deductible. Our client’s collision facility issued a preliminary loss statement/repair plan for $17,787.53 return Foremost to its pre-loss condition. Our client came to us for assistance with the $9,134.85 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 Foremost independent 3rd party appraiser for $15,675.77 as the loss statement/ repair cost to return our clients 2019 Lexus ES 350 back to its pre-loss condition.
The final binding agreement between the unbiased independent appraisers identified an under-indemnification of the loss of $7,023.09 or 81.17% from the Foremost loss statement/repair estimate of $8,652.68. Through the invoking of the Foremost policy right of appraisal our client has been made whole for their loss with no out-of-pocket expense other than their deductible.