Our client’s 2020 Toyota Tundra was damaged. Our client filed a collision claim with their carrier Progressive Insurance for the loss. Progressive issued a loss statement/repair estimate for $7,570.30 before the deductible. Our client’s collision facility issued a preliminary loss statement/repair plan for $14,173.95 to return 2020 Toyota Tundra to its pre-loss condition. Our client came to us for assistance with the $6,603.65 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 Progressive independent 3rd party appraiser for $13,589.19 as the loss statement/ repair cost to return our clients 2020 Toyota Tundra back to its pre-loss condition.
The final binding agreement between the unbiased independent appraisers identified an under-indemnification of the loss of $6,263.89 or 82.7% from the Progressive loss statement/repair estimate of $7,570.30. Through the invoking of the Progressive policy right of appraisal our client has been made whole for their loss with no out-of-pocket expense other than their deductible.