Wisconsin residents have collected more than $2 million in reimbursements in a multistate settlement with State Farm Insurance Co. over vehicle titles, Attorney General Peg Lautenschlager announced late on Friday, April 28th.
State Farm reached a $40 million settlement with Wisconsin and 48 other states in January 2005 over allegations the insurance company was improperly titling damaged vehicles it took ownership of from policy holders.
Authorities said the company would repair the cars and resell them without noting on the titles they had been damaged, resulting in consumers paying more for their vehicles than what they may have truly been worth.
Lautenschlager said 1,089 people in Wisconsin have received a total of $2.5 million.
State Farm is still taking late claims for possible compensation.
Claims may be sent to: Title Compensation Claims Administrator,
P. O. Box 1751, Faribault, Minn. 55021-1751.
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