REPAIR PROCEDURE ISSUE:
Our client’s 2018 Chevrolet Traverse was damaged. Our client filed a collision claim with their carrier Gainsco Insurance for the loss. Gainsco issued a loss statement/repair estimate for $16,078.07 before the deductible. Our client’s collision facility issued a preliminary loss statement/repair plan for $27,265.87 to return 2018 Chevrolet Traverse to its pre-loss condition. Our client came to us for assistance with the $11,187.80 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 Gainsco independent 3rd party appraiser for $25.157.62 as the loss statement/ repair cost to return our clients 2018 Chevrolet Traverse back to its pre-loss condition.
The final binding agreement between the unbiased independent appraisers identified an under-indemnification of the loss of $9,647.02 or 56.5% from the Gainsco loss statement/repair estimate of $16,078.07. Through the invoking of the Gainsco policy right of appraisal our client has been made whole for their loss with no out-of-pocket expense other than their deductible.