REPAIR PROCEDURE ISSUE:
Posted March 22, 2022
Our client’s 2020 Ford Fusion was damaged by a comprehensive loss. Our client filed a comprehensive claim with their carrier Mississippi Farm Bureau Insurance for the loss. Mississippi Farm Bureau issued a loss statement/repair estimate for $6,196.21 before the deductible. Our client’s collision facility issued a preliminary loss statement/repair plan for $11,822.17 to return to its pre-loss condition. Our client came to us for assistance with the $5,686.50 under-indemnification and out-of-pocket expense to safely return their vehicle to its pre-loss 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 Mississippi Farm Bureau independent 3rd party appraiser for $11,000.00 as the loss statement/ repair cost to return our clients 2020 Ford Fusion back to its pre-loss condition.
The final binding agreement between the unbiased independent appraisers identified an under-indemnification of the loss of $4,803.79 or 77.5% from the Mississippi Farm Bureau loss statement/repair estimate of $6,196.21. Through the invoking of the Mississippi 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.