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This settlement is closed!
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Liberty Insurance has agreed to a class action settlement benefiting certain Ohio policyholders who had nonmaterial depreciation withheld from property-damage claims.
The Class is made up of all policyholders under any homeowners residential property insurance policy issued by Liberty Insurance Corp., Safeco Insurance Co. of Indiana, LM Insurance Corp., and Liberty Mutual Fire Insurance Co., except for those excluded, who made a structural damage claim for property in Ohio during the applicable Class Periods that was a covered loss and that resulted in an actual cash value payment during the class period from which nonmaterial depreciation was withheld, or that would have resulted in an actual cash value payment but for the withholding of nonmaterial depreciation causing the loss to drop below the applicable deductible.
The Class Periods are:
- For Ohio policyholders of Liberty Insurance Corp., structural loss claims with dates of loss on or after Jan. 28, 2018
- For Ohio policyholders of Safeco Insurance Co. of Indiana, LM Insurance Corp., and Liberty Mutual Fire Insurance, structural loss claims with dates of loss on or after Jan. 3, 2019
A class action lawsuit had alleged the insurance companies, including Liberty Insurance, improperly deducted depreciation attributable to the cost of labor and other nonmaterial items when some Ohio homeowners’ claims were being adjusted.
The companies deny all accusations of wrongdoing, and a court has not ruled in favor of either the plaintiff or defendants.
The payments to individual Class Members will vary.
For those to whom all nonmaterial depreciation has not been paid, 100 percent of the estimated nonmaterial depreciation withheld and not later paid will be awarded, plus 5 percent interest on that amount from the last actual cash value payment to Feb. 23, 2021, the date the Court granted preliminary approval to the settlement.
Class Members to whom all nonmaterial depreciation that was withheld was later paid will receive 5 percent interest on the estimated nonmaterial depreciation initially withheld, from the date of the last actual cash value payment from which that depreciation was withheld to the date all nonmaterial depreciation was paid.
A hearing on the Liberty Insurance settlement is scheduled for May 18, 2021.
The deadlines for objecting to or opting out of the settlement have passed.
The deadline to submit a claim form is July 2, 2021.
Who’s Eligible
The Class is made up of all policyholders under any homeowners residential property insurance policy issued by Liberty Insurance Corp., Safeco Insurance Co. of Indiana, LM Insurance Corp., and Liberty Mutual Fire Insurance Co., except for those excluded, who made a structural damage claim for property in Ohio during the applicable Class periods that was a covered loss and that resulted in an actual cash value payment during the class period from which nonmaterial depreciation was withheld, or that would have resulted in an actual cash value payment but for the withholding of nonmaterial depreciation causing the loss to drop below the applicable deductible.
The Class Periods are:
- For Ohio policyholders of Liberty Insurance Corp., structural loss claims with dates of loss on or after Jan. 28, 2018
- For Ohio policyholders of Safeco Insurance Co. of Indiana, LM Insurance Corp., and Liberty Mutual Fire Insurance, structural loss claims with dates of loss on or after Jan. 3, 2019
Potential Award
Varies.
- For those to whom all nonmaterial depreciation has not been paid, 100 percent of the estimated nonmaterial depreciation withheld and not later paid will be awarded, plus 5 percent interest on that amount from the last actual cash value payment to Feb. 23, 2021, the date the Court granted preliminary approval to the settlement.
- Class Members to whom all nonmaterial depreciation that was withheld was later paid will receive 5 percent interest on the estimated nonmaterial depreciation initially withheld, from the date of the last actual cash value payment from which that depreciation was withheld to the date all nonmaterial depreciation was paid.
Proof of Purchase
No proof of purchase is required.
Claim Form
NOTE:Â 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
07/02/2021
Case Name
Schulte, et al. v. Liberty Insurance Corp., et al., Case No. 3:19-cv-00026 in the U.S. District Court for the Southern District of Ohio
Final Hearing
05/18/2021
Settlement Website
Claims Administrator
Ohio Depreciation Settlement
c/o JND Legal Administration
P.O. Box 91096
Seattle, WA 98111
1-888-906-0586
info@ohiodepreciationsettlement.com
Class Counsel
Erik D. Peterson
MEHR, FAIRBANKS & PETERSON TRIAL LAWYERS PLLC
Stephen G. Whetstone
WHETSTONE LEGAL LLC
Defense Counsel
Rodger Eckelberry
Marissa A. Peirsol
BAKER & HOSTETLER LLP
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2 thoughts onLiberty Insurance Homeowners Nonmaterial Depreciation Class Action Settlement
I had submitted my form by the required date and qualified. When should I expect to receive either payment or other notification?
I was a liberty mutual customer that had a legitimate claim. Why wasn’t I notified of settlement?
I submitted all required documentation on timd