State Farm Sued By Homeowners Over Lost Property Values

Law360, New York (January 24, 2014, 3:49 PM EST) -- State Farm Fire & Casualty Co. was hit with a proposed class action in Georgia federal court Wednesday accusing the insurer of failing to compensate homeowners for the lost value of their damaged homes.

Property owners John and Leigh Ann Thompson filed the lawsuit after their home sustained damage because of an event covered by their State Farm policy. When they reported the loss to State Farm, the insurer authorized repairs and paid certain repair costs, but failed to inform the couple they were entitled to...
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