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Actual Cash Value

Geico Mascot Gecko

A number of persons have filed class actions against auto insurance companies in the past year or so on the subject of the actual cash value (ACV) of totaled vehicles. This is another such lawsuit, with the complaint alleging that Geico General Insurance Company does not include sales tax in its calculation of a vehicle’s ACV.

Totaled Vehicle Sitting Across Road

When an insurance company must pay the actual cash value (ACV) of a total-loss vehicle, what should that include? The complaint for this class action alleges that Imperial Fire and Casualty Insurance Company does not include amounts for sales tax or title and registration fees in calculating ACV. Its refusal to pay these amounts, the complaint says, is a breach of contract. 

Car Accident

How does an insurance company determine the actual cash value (ACV) when a vehicle is totaled in an accident? The complaint for this class action alleges that Trumbull Insurance Company uses improper methods to determine the ACV of vehicles, resulting in underpayments to its insureds.

Car Accident

This complaint alleges that the payment of actual cash value (ACV) for total losses in Florida must include amounts for title and tag transfer fees. It brings suit against Travelers Indemnity Company of Connecticut and Standard Fire Insurance Company, plus a long list of related companies. Defendant the Travelers Companies, Inc. is the parent company of all the other defendants, and the complaint claims that all of these others are required to have uniform policies and practices.

Pile of Binders, One Labeled Car Insurance

When an insurance company must pay the actual cash value (ACV) for a totaled vehicle, what should that figure include? And should it be different for leased and owned vehicles? The complaint for this class action alleges that Progressive American Insurance Company and Progressive Express Insurance Company should include title and registration transfer fees and should not omit sales taxes for leased vehicles.

Mutual of Enumclaw Logo

More than $2 million is the cost for Mutual of Enumclaw (MOE) to settle a class action alleging that it did not correctly value vehicles in its payouts for total losses. The complaint alleged that the company subtracted an amount for a “typical negotiation” that was not supported, reasonable, or allowed under state laws.

Total Loss Vehicle After Accident

This is yet another class action against an insurance company for improperly determining the actual cash value (ACV) of vehicles that have been declared a total loss. The complaint for this class action names as defendants not only State Farm Mutual Automobile Insurance Company, but also Audatex North American, Inc., Explore Information Services, and Solera Holdings, Inc., which are also involved in the value determinations.

Total Loss Vehicle After Accident

Recently, a number of class actions are disputing the actual cash value (ACV) paid by auto insurance companies for total losses. In this case, the complaint alleges that Integon Preferred Insurance Company pays too little because it does not pay “mandatory regulatory taxes, costs and fees (Full Total Loss Payments or “FTLP”) required to replace the vehicle.”

Figure with Flag from Columbia Insurance Group Logo

The complaint for this class action claims that Columbia Mutual Insurance Company, which does business as Columbia Insurance Group (CIG), uses a report that “systematically undervalues” the vehicles of its insureds when settling total loss claims. The result is “a payment of less than the actual cash value” (ACV), saving CIG money at its customers’ expense.

Liberty Mutual Insurance Company Building

The complaint for this class action concerns auto insurance policies with comprehensive and collision coverage, and the payment of the actual cash value (ACV) of a vehicle under Florida law. The complaint alleges that Liberty Mutual Insurance Company “systematically underpaid” insureds who were entitled to the ACV for their vehicles.

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