Total Loss Undervaluation Lawsuit Filed Against State Farm in North Carolina
A North Carolina State Farm policyholder, Craig Brewer, has filed a class action lawsuit against the insurance company, alleging undervaluation of total loss.
The lawsuit, similar to those filed in six other states, claims that State Farm reduced the retail cost of comparable vehicles, resulting in lower total loss payouts.
According to the suit, Brewer's total loss payout was reduced by 5.5%, while other class members allegedly had their payouts reduced by 4-9%.
[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 lawsuit states that the total loss vehicles do not need to be revalued, as the plaintiff is only contesting the blanket reduction.
Author's summary: Lawsuit alleges State Farm undervalued total loss payouts.
- Lawsuit filed in North Carolina
- Similar complaints filed in six other states
- Alleged undervaluation of total loss payouts
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