Posted November 12, 2020
GAP Provider Liability Realignment
Geico Insurance had deemed our client’s 2018 Hyundai Sonata a Total Loss and offered her a settlement of $16,844.19. The Geico settlement pass through GAP Provider deductions left our client with a $1,451.00 lagging balance with their lender after the GAP Benefit payment.
We successfully settled the claim for $19,147.69. The revised settlement satisfied our client’s $1,451.00 liability and reduced the GAP Provider liability $318.90 or 5.4%.
Net settlement increase was $2,303.50 or 13.7%