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.
Plaintiff Craig Brewer claims that State Farm reduced his total loss payout by 5.5% by lowering the retail cost of comparable vehicles. The suit alleges that this reduction resulted in payouts that were 4-9% lower 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. “Therefore, none of the total loss vehicles have to be revalued.
Author's summary: State Farm faces lawsuit over undervalued total loss claims.
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