Ambrosio and Trenholm argued that the PSA unfairly lowered the precise money worth (ACV) of their automobiles, leading to diminished insurance coverage funds. They claimed the PSA didn’t account for causes a automobile may promote beneath checklist worth, comparable to particular reductions, and excluded transactions the place automobiles offered above the checklist worth. In keeping with the plaintiffs, this technique breached Progressive’s normal auto coverage, which required fee of the “market worth, age, and situation” of the automobile on the time of loss.
