Posted December 23, 2019
GAP Provider Liability Realignment
Geico Insurance had deemed our client’s 2014 Honda Pilot a Total Loss and offered him a settlement of $16,698.30. The Geico settlement pass through GAP Provider deductions left our client with a $1,741.00 lagging balance with their lender after the GAP Benefit payment.
We successfully settled the claim for $18,839.23. The revised settlement satisfied our client’s $1,741.00 liability and reduced the GAP Provider liability $24.93 or 1%.
Net settlement increase was $2,140.93 or 12.8%