REPAIR PROCEDURE ISSUE:
Our client’s 2022 Honda Accord was damaged and an obvious total loss. Our client filed a claim with their carrier Travelers Insurance for the loss. Travelers issued a loss statement/repair estimate for $4,208.80 before the deductible. Our client’s collision facility issued a preliminary loss statement/repair plan for $30,348.33 to return Travelers to its pre-loss condition. Our client came to us for assistance with the $26,139.53 under-indemnification and out-of-pocket expense.
As a result of going through the appraisal process in the policy, Vehicle Value Experts came to a binding agreement with the Travelers independent 3rd party appraiser that the 2022 Honda Accord was a total loss and the Actual Cash Value as of the date of loss was $31,500.00.
The final binding agreement between the unbiased independent appraisers to deem the 2022 Honda Accord a total loss resolved the dispute. The invoking of the Travelers policy right of appraisal by the insured client made them whole for their loss with no out-of-pocket expense other than their deductible.