Posted November 19, 2020
GAP Provider Liability Realignment
Geico Insurance had deemed our client’s 2015 Chevrolet Trax a Total Loss and offered him a settlement of $11,367.75. The Geico settlement pass through GAP Provider deductions left our client with a $420.00 lagging balance with their lender after the GAP Benefit payment.
We successfully settled the claim for $14,376.75. The revised settlement satisfied our client’s $420.00 liability and reduced the GAP Provider liability $76.90 or 74.3%.
Net settlement increase was $3,009.00 or 26.5%