The 1st week of April I was contacted by a Client whom had been in a multi vehicle accident. This Client was driving a 2011 Honda CRV that she bought New. She told me the accident was not her fault and the at fault party had AllState Insurance and AllState had taken responsibility for the Liability. At this time she said she was not sure of the actual damage,she asked me to perform an evaluation on the CRV at the Body Shop. I agreed to do so. The Client told me the CRV was located at Mike Smith Body Shop in Beaumont. I went the next day and performed the evaluation on the CRV and issued the Client a Fair Market Value Appraisal on the CRV as to the Retail Value prior to the accident.
On Friday April 10th my Client called me back and informed me that AllState had not helped her in a timely manner and she had elected to file a Claim under her Germania Policy and that Germania had Totaled Out Her CRV. My Client asked me what would happen next? I told her more than likely Germania would call and advise her of a Fair Market Value Amount that would more than likely be ridiculous. I advised her upon getting this Fair Market Value Settlement amount to advise Germania she would like the Market Valuation Report that was comprised of the Comparison Vehicles used to arrive at said amount.
On or about Monday April 13th my Client emailed me the Market Valuation Report provided them by Germania. Germania had contracted with CCC ONE to perform the Market Valuation Report. CCC ONE had arrived at a Base Vehicle Value on the CRV of $17,500.00.
Upon reviewing the CCC ONE Market Valuation Report they had in fact used several high mileage CRV's and several CRV's with Bad CarFax Reports to arrive at their Base Vehicle Value of $17,500.00. I wrote a full analysis of the CCC ONE Report and upon completion determined the Fair Market Retail Value to be $21,900.00 on the CRV. I issued my analysis to the Client upon completion on Monday April 27th. The next day my Client advised me they had placed Germania on Notice and wanted to in act the Appraisal Clause in the Policy and they each hire an Independent Appraiser to arrive at a Fair Market Value.
On or about Wednesday April 29th I was contacted by the Independent Appraiser Germania hired. As required we agreed to choose from one of the three Umpires listed below to issue a Ruling should he and I not be able to come to an amicable Fair Settlement Value.