REPAIR PROCEDURE ISSUE:
Our client’s 2020 Lincoln Corsair was damaged. Our client filed a comprehensive claim with their carrier Texas Farm Bureau Insurance for the loss. Texas Farm Bureau issued a loss statement/repair estimate for $12,303.33 before the deductible. Our client’s collision facility issued a preliminary loss statement/repair plan for $17,113.81 to return 2020 Lincoln Corsair to its pre-loss condition. Our client came to us for assistance with the $4,810.48 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 Texas Farm Bureau independent 3rd party appraiser for $15,918.95 as the loss statement/ repair cost to return our clients 2020 Lincoln Corsair back to its pre-loss condition.
The final binding agreement between the unbiased independent appraisers identified an under-indemnification of the loss of $3,615.62 or 29.4% from the Texas Farm Bureau loss statement/repair estimate of $12,303.33. Through the invoking of the Texas Farm Bureau policy right of appraisal our client has been made whole for their loss with no out-of-pocket expense other than their deductible.