The Massachusetts Attorney General reported that Massachusetts motorcyclists will receive more than $5.6 million in additional insurance refunds this holiday season. Travelers, Fireman’s Fund, and Electric issued refunds after settlements were reached with the Attorney General’s Office in November. Traveler’s is issuing the largest portion of the settlement with just over $5 million. There will be another 12 insurance companies settling soon and a number of additional insurance companies are currently still under investigation. By the end of the settlements, Massachusetts motorcyclists will see nearly $40 million in refunds!
A Single Motorcyclist Complaint
So how did this massive insurance investigation begin? Well, it began with a single motorcyclist complaint. The concerned motorcyclist owned a 1999 Harley-Davidson Road King Classic. Each year between 2003 and 2008 his insurance company calculated his premiums as if his motorcycle were brand new. By 2008, however, his 9-year-old motorcycle was worth less than $12,000—NOT the $20,000 the insurance company was basing his premiums on. This resulted in more than $1500 in overcharges that should have never occurred. Once the Attorney General’s Office heard of the complaint, a comprehensive investigation was launched into motorcycle rating practices and improper practices.
Could You Be Eligible?
If you live in Massachusetts and own a motorcycle, you may be entitled to receive part of this refund. In order to be eligible for the refund, you must have purchased comprehensive or collision insurance after January 2002 and your motorcycle must have been overvalued by your insurance company. If you think you may qualify for a refund, you should contact the Attorney General’s Office or go to their Motorcycle Insurance Refund Lookup Webpage.
Russ Brown Motorcycle Attorneys® are not part of this case. If you think you have a claim click on the link above.
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