Total Loss Undervaluation Lawsuit Filed Against State Farm in North Carolina
A North Carolina State Farm policyholder has filed a class action lawsuit against the insurance company, alleging undervaluation of total loss claims.
The lawsuit, similar to those filed in six other states, claims that State Farm reduced total loss payouts by 4-9% for class members, including a 5.5% reduction for plaintiff Craig Brewer.
[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 that none of the total loss vehicles need to be revalued, as the plaintiff only disputes the blanket reduction applied by State Farm.
Author's summary: State Farm faces lawsuit over undervalued total loss claims.
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