DRIVERS could pick a cool $550 after a major settlement was reached with an insurance firm topping $2.09 million.
However, car owners must meet certain steps before they can receive their cash – including claiming for accident repairs over a near 12-year period.
Drivers who receive vehicle repairs covered by State Farm could be due a pay out[/caption]
Claimants must meet certain steps before they can receive their cash[/caption]
Insurance giants State Farm have agreed to pay out to resolve claims that they underpaid car owners by excluding “diminished value” payments from claims.
That means any individuals that used State Farm Fire and Casualty Company insurance for their vehicle repairs could receive a sizable pay out.
However, certain conditions must be met before drivers receive their cash – with the cover only applying to those who claimed for an accident between March 23, 2012 and February 13, 2024.
What’s more, the repair estimate must have exceeded $1,000 on a vehicle that was no more than six years old with less than 90,000 miles on the clock.
Also, the vehicle must’ve suffered structural damage, deformed sheet metal, and/or required body or paint work.
The insurance lawsuit claims State Farm failed to fully pay certain vehicle claims after accidents – with many vehicles that were covered seemingly not repaired to their pre-accident conditions.
According to plaintiffs, vehicle owners should have been compensated for “diminished value” damages under Washington law.
Now, under the terms of the settlement, class members can receive a payment based on their vehicle repair costs.
Payment amounts will vary depending on the number of claims filed and repair cost details – but each claimant may receive around $550.
State Farm is an insurance company that’s existed for over 100 years and is known for covering vehicles and other property.
Indeed, State Farm is the largest property, casualty, and auto insurance provider in the US.
The insurance firm hasn’t admitted to any wrongdoing, but agreed to pay more than $2.09 million to resolve the class action lawsuit.
Using the helpful link on the Top Class Actions website, drivers have until November 12 to file a claim and only require their insurance claim information.
Naturally, car owners have been urged not to file a claim if they do not qualify for the settlement.
This comes after a DoorDash driver was left out of pocket after his car was destroyed in a hit-and-run.
Veteran Cory Petersen was delivering orders for DoorDash in May when a reckless driver smashed into his car and drove away.
The former Marine went to his insurance company, USAA, but they denied his claim because they weren’t aware he was delivering food.
Elsewhere, a company that went viral for trying to tow a vehicle in traffic has been accused of a second insurance fraud scam in a new case.
The owner was accused of staging an accident and falsifying documents.
Insurance giants State Farm have paid out over $2,000,000[/caption]
Drivers could be handed around $550 for their troubles[/caption]
