Posted August 17, 2020
GAP Provider Liability Realignment
Geico Insurance had deemed our client’s 2018 Toyota Corolla a Total Loss and offered him a settlement of $12,174.19. The Geico settlement pass through GAP Provider deductions left our client with a $2,778.00 lagging balance with their lender after the GAP Benefit payment.
We successfully settled the claim for $16,721.95. The revised settlement satisfied our client’s $2,778.00 liability and reduced the GAP Provider liability $813.71 or 11.2%.
Net settlement increase was $4,547.76 or 37.4%