The formula involves several calculations including a "base loss of value" of 10% of the vehicle's pre-loss retail value, along with modifiers for damage severity and mileage. (Photo: anekoho/Adobe Stock)
Judge Clay Land of the U.S. District Court for the Middle District of Georgia denied class action certification to more than 600,000 State Farm insurance policyholders over claims that the insurer had undervalued replacement and repair costs for accident-damaged vehicles for years.
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Greg Land
Greg Land covers topics including verdicts and settlements and insurance-related litigation for the Daily Report in Atlanta.
