Total Loss Undervaluation Lawsuit 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 reduction resulted in payouts that were 4-9% lower 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.
Thus, no revaluation of the total loss vehicles is required.
Author's summary: Lawsuit filed against State Farm.