Posted October 26, 2020
GAP Provider Liability Realignment
Geico Insurance had deemed our client’s stolen 2015 Acura ILX a Total Loss and offered him a settlement of $11,757.69. The Geico settlement pass through GAP Provider deductions left our client with a $1,409.00 lagging balance with their lender after the GAP Benefit payment.
We successfully settled the claim for $14,429.88. The revised settlement satisfied our client’s $1,409.00 liability and reduced the GAP Provider liability $417.49 or 52.3%.
Net settlement increase was $2,672.19 or 22.7%