Total Loss Undervaluation Lawsuit Filed Against State Farm in North Carolina
A class action lawsuit has been filed against State Farm in North Carolina by a policyholder, 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, including plaintiff Craig Brewer, who saw a 5.5% reduction.
[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.
Author summary: Lawsuit filed against State Farm.
- States with similar lawsuits: 6
- Plaintiff: Craig Brewer
- Reduction in total loss payout for plaintiff: 5.5%
- Reduction in total loss payouts for class members: 4-9%
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