Posted August 26, 2020
GAP Provider Liability Realignment
Geico Insurance had deemed our client’s 2017 Ford Mustang a Total Loss and offered him a settlement of $16,861.19. The Geico pass through GAP Provider deductions left our client with a $2,363.00 lagging balance with their lender after the GAP Benefit payment.
We successfully settled the claim for $21,012.38. The revised settlement satisfied our client’s $2,363.00 liability and reduced the GAP Provider liability $906.79 or 30.3%.
Net settlement increase was $4,151.19 or 24.6%