Riders sick of overpaying for motorcycle insurance – especially in Quebec – should take notice of the news from Massachusetts.
Bikers everywhere complain about high insurance costs, but in Massachusetts, they actually did something about it; the state’s attorney general got involved, and now thousands of riders are getting refunds.
The latest companies in hot water are Travelers, Fireman’s Fund and Electric Insurance; they are refunding over $5 million to more than 14,000 customers. All told, 15 companies have settled with the state’s attorney general so far, and are refunding over $40 million.
According to Insurancejournal.com, the action all stems from a single complaint filed with the attorney general. Investigators found out insurance companies were charging customers with full coverage as if if their motorcycles were brand new, even after the bikes had significantly devalued.
So, don’t think your battle for a better insurance rate is hopeless; even riders in Quebec should be at least a little bit encouraged by this success.
[…] A few years ago, we gave you the outline of the story: A Massachusetts rider, fed up with paying through the nose for insurance, complained. Because of that single complaint, the attorney general’s office ended up investigating and found, surprise surprise, the state’s riders were being hosed to the tune of millions of dollars. Since then, the AG has been forcing the insurance companies to pay back their ill-gotten gains. […]