Posted November 19, 2020
GAP Provider Liability Realignment
Farmers Insurance had deemed our client’s 2016 Honda Civic a Total Loss and offered him a settlement of $15,045.00. The Farmers settlement pass through GAP Provider deductions left our client with a $1,236.00 lagging balance with their lender after the GAP Benefit payment.
We successfully settled the claim for $18,710.63. The revised settlement satisfied our client’s $1,236.00 liability and reduced the GAP Provider liability Zero.
Net settlement increase was $3,665.63 or 24.4%