REPAIR PROCEDURE ISSUE:
Our client’s 2022 BMW 530i was damaged. Our client filed a claim with their carrier Geico Insurance for the loss. Geico issued a loss statement/repair estimate for $15,370.31 before the deductible. Our client’s collision facility issued a preliminary loss statement/repair plan for $31,997.96 return Geico to its pre-loss condition. Our client came to us for assistance with the $16,627.65 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, Vehicle Value Experts came to a binding agreement with the independent 3rd party appraiser for $32,500.00 as the loss statement/ repair cost to return our clients 2022 BMW 530i back to its pre-loss condition.
The final binding agreement between the unbiased independent appraisers identified an under-indemnification of the loss of $17,129.69 or 111.4% from the Geico loss statement/repair estimate of $19,022.69. 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.