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.
The lawsuit, similar to those filed in six other states, claims that State Farm reduced total loss payouts by 4-9% 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.
In the case of plaintiff Craig Brewer, the alleged reduction resulted in a 5.5% decrease in his total loss payout.
The suit does not require revaluation of total loss vehicles.
Author's summary: State Farm faces lawsuit over total loss undervaluation.
- States with similar complaints: 6
- Class members' payout reduction: 4-9%
- Plaintiff Craig Brewer's payout reduction: 5.5%