Actual Cash Value
Progressive Direct “Projected Sold Adjustment” to ACVs Minnesota Class Action
How should insurance companies figure a totaled vehicle’s actual cash value (ACV)? 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 Read more
Progressive Universal ACVs Reduced by Projected Sold Adjustment Iowa Class Action
What is a Projected Sold Adjustment? Is it a legitimate reduction in the actual cash value (ACV) of a totaled vehicle, to help determine the insurance payout? The complaint for this class action alleges that it is not. According to the complaint, Progressive Universal Insurance Company “systematically thumbs the scale” when it asks its vehicle Read more
Westfield National ACVs Reduced by Projected Sold Adjustment Illinois Class Action
If a vehicle is totaled in an accident, how is the actual cash value (ACV) calculated to determine the insurance payout? The complaint for this class action alleges that Westfield National Insurance Company “systematically thumbs the scale” by requiring that a “Projected Sold Adjustment” be deducted from the prices of comparable vehicles used for valuation. Read more
Progressive Advanced “Projected Sold Adjustment” to ACVs Missouri Class Action
When a vehicle is declared a total loss, the insurance company must be calculated an actual cash value (ACV) for the vehicle in order to make a payout for the loss to the insured. The complaint for this class action alleges that Progressive Advanced Insurance Company unfairly reduces the amount of the payout by having Read more
State Farm Mutual Auto Insurance “Typical Negotiation” Reduction in ACV Class Action
This class action tackles the issue of the actual cash value (ACV) of vehicles that are declared total losses after an accident. The complaint alleges that State Farm Mutual Automobile Insurance Company arrives at an ACV, then arbitrarily and improperly reduces it by a “projected sold adjustment” that supposedly takes into consideration a “typical negotiation.” Read more
Progressive Universal “Projected Sold Adjustments” to ACV Illinois Class Action
When an auto is totaled, the insurer must calculate the actual cash value (ACV) in order to make a payout to the insured. The complaint for this class action alleges that Progressive Universal Insurance Company “systematically thumbs the scale when calculating” this amount, because it applies “Projected Sold Adjustments” that are deceptive and unfair, and Read more
Progressive Paloverde Insurance Adjustment to Payout Louisiana Class Action
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 Read more
Frankenmuth “Replacement Cost Less Depreciation” Calculations Class Action
Frankenmuth Mutual Insurance Company offers policies for property insurance. When Frankenmuth calculates the actual cash value (ACV) of losses in certain states, it uses a “replacement cost less depreciation” method. The complaint for this class action alleges that Frankenmuth, in calculating payouts, improperly depreciates labor. Read more
Infinity Insurance Insufficient Total Loss Payouts California Class Action
Infinity Insurance Company offers auto insurance policies. The complaint for this class action alleges that, when a vehicle is totaled, Infinity does not include all required costs in its calculation of the actual cash value (ACV). It claims that Infinity either does not pay or underpays California state sales tax and state-mandated regulatory fees. Read more
State Farm Mutual Auto Insurance “Typical Negotiation Adjustments” Arkansas Class Action
When a vehicle is deemed a total loss, the insurance company must determine the actual cash value (ACV) for the insurance payout. This is generally derived from the prices of comparable vehicles in the same area. But the complaint for this class action alleges that State Farm Automobile Insurance Company subtracts a substantial amount from Read more
