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.
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 class members receiving 4-9% less in total loss payouts.
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 total loss vehicles is required.
Author's summary: Lawsuit filed against State Farm.