April 8, 2022
Can insurance companies figure a totaled vehicle’s actual cash value (ACV) in any way they want to? This class action takes issue with Progressive Direct Insurance Company’s “projected sold adjustment” which the company has subtracted from the prices of comparable vehicles to determine ACVs and its payouts to insureds. The complaint calls the adjustments “deceptive and unexplained” and “contrary to appraisal standards[.]”
Case Event File: Progressive Direct “Projected Sold Adjustment” to ACVs Minnesota ComplaintRelated to: Progressive Direct “Projected Sold Adjustment” to ACVs Minnesota Class Action