November 19, 2021
When a vehicle is deemed a total loss after an accident, Progressive Direct Insurance Company is supposed to pay the insured owner the vehicle’s actual cash value (ACV). But the complaint for this South Carolina class action alleges that Progressive unfairly applies something called a Projected Sold Adjustment to its valuations. This adjustment results in a payout of less than the vehicle’s true ACV because it assumes the insureds will be able to negotiate for a price that is significantly lower than the prices advertised for comparable vehicles.
Case Event File: Progressive Direct ACV Reduced by Adjustment South Carolina ComplaintRelated to: Progressive Direct ACV Reduced by Adjustment South Carolina Class Action
