Total Loss Undervaluation Lawsuit Filed Against State Farm in North Carolina
A class action lawsuit has been filed against State Farm in North Carolina by a policyholder, alleging undervaluation of total loss.
The lawsuit, similar to those filed in six other states, claims that State Farm reduced total loss payouts by 4-9% for class members.
[T]he plaintiff only contests State Farm’s blanket reduction of the retail cost of comparable vehicles on behalf of himself and the class.
In the case of plaintiff Craig Brewer, the alleged reduction resulted in a 5.5% decrease in his total loss payout.
The suit states that none of the total loss vehicles need to be revalued.
Author's summary: Lawsuit filed against State Farm.
- States with similar complaints: 6
- Alleged reduction in total loss payouts: 4-9%
- Plaintiff's reduction: 5.5%
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