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.
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. Therefore, none of the total loss vehicles have to be revalued.
Author's summary: State Farm faces lawsuit over total loss undervaluation.
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