Our client’s 2018 Toyota Corolla was damaged. Our client filed a collision claim with their carrier Horace Mann Insurance for the loss. Horace Mann issued a loss statement/repair estimate for $1,317.52 before the deductible. Our client’s collision facility issued a preliminary loss statement/repair plan for $10,449.24 to return 2018 Toyota Corolla to its pre-loss condition. Our client came to us for assistance with the $9,131.72 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 Horace Mann independent 3rd party appraiser for $9,220.60 as the loss statement/ repair cost to return our clients 2018 Toyota Corolla back to its pre-loss condition.
The final binding agreement between the unbiased independent appraisers identified an under-indemnification of the loss of $8,397.02 or 599.8% from the Horace Mann loss statement/repair estimate of $1,317.52. Through the invoking of the Horace Mann policy right of appraisal our client has been made whole for their loss with no out-of-pocket expense other than their deductible.