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, similar to complaints in six other states, alleging undervaluation of total loss.
The lawsuit, brought by plaintiff Craig Brewer, claims that State Farm reduced the retail cost of comparable vehicles, resulting in a 5.5% reduction in his total loss payout. The suit alleges that this reduction ranged from 4-9% for each class member.
[T]he plaintiff only contests State Farm’s blanket reduction of the retail cost of comparable vehicles on behalf of himself and the class. Therefore, none of the total loss vehicles have to be revalued.
Author's summary: State Farm faces lawsuit over alleged undervaluation of total loss claims.
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