For a while now (as in, years), we’ve been telling you massive insurance refunds are coming in the state of Massachusetts. Now, the state’s largest automobile insurer is paying up, and the refund for motorcyclists is huge.
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.
This week, the AG’s office announced the state’s largest automobile insurer will be paying back $14.6 million to riders they ripped off. Yes, you read that number right. Yahoo reports Commerce Insurance will be refunding more than 40,000 riders, with individual payouts ranging from $50 to $1,200. They’re also paying the state $325,000.
The total amount of refunded cash is almost staggering. Yahoo’s article says 19 insurance companies have agreed to pay out $57.4 million in refunds on 150,000 policies in the state. It seems the refunds revolve around accusations of over-charging for bike policies by saying the machines were worth more money than they actually were, and not depreciating them appropriately as they aged.
Why do we tell you all this? After all, we’re in Canada, not the state of Massachusetts. We’re telling you this to tell you to check out your motorcycle insurance policy. Have you been denied insurance on your RG350, despite a clean driving record? Have you got another valid complaint? Let us know. More importantly, do some thinking as to which buttons you can push to effect some change. Hey, it worked in Massachusetts.