Our client’s 2023 Ford F-150 was damaged. Our client filed a claim with their carrier Cadence Insurance for the loss. Cadence issued a loss statement/repair estimate for $12,305.27 before the deductible. Our client’s collision facility issued a preliminary loss statement/repair plan for $16,885.01 to return Cadence to its pre-loss condition. Our client came to us for assistance with the $4,579.74 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 Cadence independent 3rd party appraiser for $16,226.34 as the loss statement/ repair cost to return our clients 2023 Ford F-150 back to its pre-loss condition.
The final binding agreement between the unbiased independent appraisers identified an under-indemnification of the loss of $3,921.07 or 31.9% from the Cadence loss statement/repair estimate of $12,305.27. Through the invoking of the Cadence policy right of appraisal our client has been made whole for their loss with no out-of-pocket expense other than their deductible.