PAY DAY: Drivers in line for payment up to $550 from $2.09m insurance settlement – but must meet five step checklist to get cash
According to The Sun, Drivers may soon receive a payment of approximately $550 as part of a significant $2.09 million settlement with State Farm. The settlement addresses claims that the insurance company underpaid car owners by omitting “diminished value” payments from claims related to accident repairs.
Eligibility Requirements
To qualify for the payout, car owners must meet specific criteria. The claims must pertain to accidents that occurred between March 23, 2012, and February 13, 2024. Additionally, the repair estimate for the vehicle must have exceeded $1,000, and the vehicle should be no more than six years old with fewer than 90,000 miles. The vehicle must have sustained structural damage, deformed sheet metal, and/or required body or paint work.
The lawsuit contends that State Farm did not fully compensate vehicle owners for their claims after accidents, leaving many cars unrepaired to their pre-accident condition. Plaintiffs argue that, under Washington law, vehicle owners are entitled to compensation for diminished value damages.
Payment Details
Under the settlement terms, class members can receive a payment reflecting their vehicle repair costs. While the exact payout amounts may vary based on the number of claims and specific repair costs, each claimant can expect to receive around $550.
State Farm, which has been in operation for over a century, is recognized as the largest property, casualty, and auto insurance provider in the U.S. Although the company has not admitted any wrongdoing, it has agreed to this settlement to resolve the class action lawsuit.
How to Claim
Drivers interested in claiming their share of the settlement can do so through the Top Class Actions website. They have until November 12 to file a claim, and they will need their insurance claim information. However, car owners are advised not to file a claim if they do not meet the eligibility requirements.
This news follows a separate incident involving a DoorDash driver whose vehicle was destroyed in a hit-and-run. The driver, Cory Petersen, was denied a claim by his insurance company, USAA, because they were unaware he was delivering food at the time of the accident.
Additionally, a company that gained notoriety for attempting to tow a vehicle in traffic has faced allegations of a second insurance fraud scheme, involving accusations of staging an accident and falsifying documents.
