Posted September 10, 2020
GAP Provider Liability Realignment
Geico Insurance had deemed our client’s 2016 Toyota Corolla a Total Loss and offered him a settlement of $12,148.69. The Geico settlement pass through GAP Provider deductions left our client with a $1,067.00 lagging balance with their lender after the GAP Benefit payment.
We successfully settled the claim for $14,376.75. The revised settlement satisfied our client’s $1,067.00 liability and reduced the GAP Provider liability $298.27 or 55.3%.
Net settlement increase was $2,228.06 or 18.3%