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 the insurance company undervalued total losses.
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 reduction resulted in total loss payouts being lowered 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.
The suit states that no revaluation of total loss vehicles is necessary.
Author's summary: Lawsuit filed against State Farm.
- Similar complaints filed in six other states.
- Alleged undervaluation of total losses.