Total Loss Undervaluation Lawsuit Filed Against State Farm in North Carolina
A class action lawsuit has been filed against State Farm in North Carolina, similar to complaints in six other states, 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 reduction resulted in a 4-9% decrease in total loss payouts for class members.
The plaintiff only contests State Farm’s blanket reduction of the retail cost of comparable vehicles on behalf of himself and the class.
Therefore, the suit does not require revaluation of the total loss vehicles.
Author's summary: Lawsuit filed against State Farm over undervalued total loss claims.
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