Progressive Paloverde Insurance Adjustment to Payout Louisiana Complaint

January 24, 2022

When a vehicle is totaled in an accident, how may insurers calculate the actual cash value (ACV) of the vehicle to determine a payout? The complaint for this class action brings suit against Progressive Paloverde Insurance Company for subtracting a “projected sold adjustment” from its market value findings, which assumes that the consumer can achieve a successful negotiation at a fixed rate to lower the price of similar vehicle.