Total Loss Undervaluation Lawsuit Filed Against State Farm in North Carolina
A class action lawsuit has been filed against State Farm in North Carolina, alleging undervaluation of total loss claims.
A policyholder, Craig Brewer, claims that State Farm reduced his total loss payout by 5.5% by lowering the retail cost of comparable vehicles.
The lawsuit alleges that this practice resulted in reduced payouts for class members, ranging from 4-9%.
[T]he plaintiff only contests State Farm’s blanket reduction of the retail cost of comparable vehicles on behalf of himself and the class.
The suit states that no revaluation of total loss vehicles is required.
Author's summary: State Farm faces lawsuit over undervalued total loss claims.
- Similar complaints have been filed in six other states.
- The lawsuit represents a class of policyholders who allegedly received reduced payouts.
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