REPAIR PROCEDURE ISSUE:
Our client’s 2019 Mazda CX-5 was damaged. Our client filed a claim with their carrier American Economy Insurance for the loss. American Economy issued a loss statement/repair estimate for $4,893.61 before the deductible. Our client’s collision facility issued a preliminary loss statement/repair plan for $11,202.45 return American Economy to its pre-loss condition. Our client came to us for assistance with the $6,308.84 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 American Economy independent 3rd party appraiser for $12,740.85 as the loss statement/ repair cost to return our clients 2019 Mazda CX-5 back to its pre-loss condition.
The final binding agreement between the unbiased independent appraisers identified an under-indemnification of the loss of $7,847.24 or 160.36% from the American Economy loss statement/repair estimate of $4,893.61. Through the invoking of the American Economy policy right of appraisal our client has been made whole for their loss with no out-of-pocket expense other than their deductible.