California State Farm Personal Property Class Action Settlement

State Farm has agreed to recalculate California consumers’ insurance claims as a part of a settlement agreement over class action allegations that the insurer failed to apply the correct depreciation value to claims.

According to the State Farm personal property class action settlement, Class Members can submit personal property insurance claims from December 2014 through the summer of 2014 for re-determination. State Farm is also barred from canceling or refusing to renew the insurance policies of Class Members who submit claims for re-determination under the terms of the settlement.

The State Farm personal property class action lawsuit alleged that the insurer improperly calculated the depreciation value for insurance claims made by California policyholders.

The State Farm class action settlement website uses the following example: “you paid $100.00 to purchase a bicycle 5 years before your loss and State Farm applied an 80% depreciation value to pay you $20.00. A similar bicycle cost $120.00 at the time the bicycle was lost. The new adjustment reveals you rarely used your bike and stored it so that it wasn’t damaged, so that the condition of your old bicycle justified applying a depreciation value of only 25%. State Farm should have paid you ‘ACV’ of $120 (the new retail cost) minus 25% (the depreciation of your old bicycle) for a total payment of $90.00. Taking into account the $20 already paid to you for the very same item, today you are owed $70 plus interest.”

Class Members must submit a “Request for Reconsideration” to make a claim under the State Farm personal property class action settlement by Oct. 1, 2018.

Class Members have until Oct. 1, 2018 to object to the State Farm personal property class action settlement.

Who’s Eligible

Class Members include “California residents insured under a State Farm homeowners or commercial insurance policy between December 31, 2004 and the summer of 2014 who made a claim for damage or loss to personal property and accepted payment from State Farm of less than the applicable policy limits, or whose claims are still pending and have not been offered the policy limits.”

Potential Award

Varies depending on claim.

Proof of Purchase

Class Members will need to submit a postcard State Farm will send. In response, the insurer will send a Contents Inventory Summary (CIS) where Class Members can document the claim they want to be reconsidered. Class Members will need to include a resubmission claim letter detailing the property submitted, along with photographs of the item(s) if possible.

Claim Form

CLICK HERE TO FILE A CLAIM »

NOTE: If you do not qualify for this settlement do NOT file a claim.

Remember: you are submitting your claim under penalty of perjury. You are also harming other eligible Class Members by submitting a fraudulent claim. If you’re unsure if you qualify, please read the FAQ section of the Settlement Administrator’s website to ensure you meet all standards (Top Class Actions is not a Settlement Administrator). If you don’t qualify for this settlement, check out our database of other open class action settlements you may be eligible for.

Claim Form Deadline

10/1/2018

Case Name

The Doan, et al. v. State Farm General Insurance Company,  Case No. 108-cv-129264, in the Superior Court for the State of California, County of Santa Clara

Final Hearing

12/7/2018

Settlement Website

www.StateFarmPersonalPropertySettlement.com

Claims Administrator

(888) 377-9637
[email protected]

Class Counsel

Robert Buccola
Steve Campora
DREYER BABICH BUCCOLA WOOD CAMPORA LLC

C. Brooks Cutter
John R. Parker
CUTTER LAW PC

Defense Counsel

Michael O’Neill
SHAVER KORF & CASTRONOVO LLP