Settlement Structure: Claims Made
Active: Closed
Closed Settlement Statement:
According to court documents, the claim submission deadline has passed. Please contact the claims administrator if you have any questions.
Case Summary:This settlement resolves a class action against a number of insurance companies—LM Insurance Corporation, Liberty Insurance Corporation, Liberty Mutual Fire Insurance Company, Safeco Insurance Company of America, and Ohio Security Insurance Company. The lawsuit alleged that these companies should not have deducted depreciation on labor and other nonmaterial costs from homeowners’ payouts in Tennessee and Mississippi or from some commercial property damage in Tennessee, Mississippi, and Ohio.
Docket Number:3:19-cv-00466
Company: Safeco Insurance Company of America
Filing Deadline: March 23, 2021
Class Period: October 17, 2016
Objection Deadline: January 4, 2021
Exclusion Deadline: January 3, 2021
Final Approval Hearing: February 5, 2021
Proof of Purchase:In general, no proof is needed, unless you assigned your insurance payout to someone else.
Eligibility:You may be eligible if you are either (1) a policyholder under a homeowners residential, manufactured home, condo, dwelling or rental property insurance policy from LM Insurance Corporation, Liberty Insurance Corporation, Liberty Mutual Fire Insurance Company, and Safeco Insurance Company of America who made a claim for a covered loss for structural loss on a property in Tennessee or Mississippi during the class periods below; or (2) a policyholder under a commercial property insurance property from Ohio Security Insurance Company, who made a claim for a covered loss for structural loss on a property in Tennessee, Mississippi, or Ohio during the class periods below; and (3) the claim resulted in an actual cash value payout from which nonmaterial depreciation was subtracted, or where the claim would have resulted in an actual cash value payout except that the withholding of nonmaterial depreciation caused the loss to fall below the deductible.
The class periods for dates of loss for claims of structural loss are as follows:
- For Tennessee policyholders of LM Insurance Corporation, on or after May 31, 2018.
- For Tennessee policyholders of Liberty Corporation, Liberty Mutual Fire Insurance Company, and Safeco Insurance Company, on or after October 17, 2018.
- For Tennessee policyholders of Ohio Security, on or after March 2, 2018.
- For Mississippi policyholders of LM Insurance Corporation, Liberty Corporation, Liberty Mutual Fire Insurance Company, and Safeco Insurance Company, on or after October 17, 2016.
- For Mississippi policyholders of Ohio Security, on or after March 2, 2017.
- For Ohio policyholders of Ohio Security, on or after March 24, 2018.
Benefits: (1) If the insurance company has not paid you all the nonmaterial depreciation you are owed, then your benefit is expected to be 100% of the nonmaterial depreciation amount plus 5% interest. (2) If the insurance company has paid you all the nonmaterial depreciation you are owed, then 5% interest on the amount that was originally withheld and later paid, from the date of the last payment of the actual cash value from which the amount was originally withheld to the date when the amount was finally paid to you.
Total Settlement Amount: Unknown
Class Representative Proposed Incentive Fee:$7,500
Law Firms:
Gilbert McWherter Scott Bobbitt PLC
Larson King
Mehr Fairbanks & Peterson Trial Lawyers PLLC
Claim Form: Homeowners Depreciation Settlement Claim Form
Case Name: Holmes, et al. v. LM Insurance Corporation, et al.
Settlement Website: Homeowners Depreciation Settlement Website
Claims Administrator:
JND Legal Administration
Homeowners Depreciation Settlement
c/o JND Legal Administration
P.O. Box 11050
Seattle, WA 98111
1-833-928-2552
info@homeownersdepreciationsettlement.com