Posted March 15, 2022
Our client’s 2017 Toyota RAV4 was involved in a rear-end collision. Our client filed a collision claim with their carrier Travelers Insurance for the loss. Travelers issued a loss statement/repair estimate for $3,147.66 before the deductible. Our clients collision facility issued a preliminary loss statement/repair plan for $16,202.44 to return the 2017 Toyota RAV4 to its pre-loss condition. Our client came to us for assistance with the $13,045.78 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 Travelers independent 3rd party appraiser for $13,900.00 as the loss statement/ repair cost to return our clients 2017 Toyota RAV4 back to its pre-loss condition.
The final binding agreement between the unbiased independent appraisers identified an under-indemnification of the loss of $10,752.34 or 342% from the Travelers loss statement/repair estimate of $3,147.66. Through the invoking of the Travelers policy right of appraisal our client has been made whole for their loss with no out-of-pocket expense other than their deductible