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Insurance Companies Overcharge Motorcyclists on Premiums

On January 14, 2010, the Attorney General of Massachusetts, Martha Coakley, released information that her office had recovered $11.1 million in motorcycle insurance overcharges.  Massachusetts has one of the highest premium rates for motorcycles in the country and it was learned that certain insurance providers were using improper methods to determine premium charges.

The year long investigation, prompted by consumer complaints found that instead of calculating collision and comprehensive premiums based on the actual cash value of the motorcycle (ACV), some companies were using the "new" value of the bike over a period of years. For instance, a 1999 Harley-Davidson was charged a premium based on a $20,000 value, from 2003 through 2008, even though the bike was worth less than $20,000 in 2003 and much less ($11,000) in 2008. Over the years, these inflated premium charges cost consumers millions.

Liberty Mutual, Quincy Mutual Fire Insurance and Safety Insurance have reached settlements with the Attorney General's Office regarding overcharges dating back to 2002.

Massachusetts law prohibits unfair or deceptive acts or practices, such as the unfair rating practices used by the above insurance companies.  The Massachusetts Motorcycle Association (MMA) has been concerned about these unfair insurance practices and brought these concerns, along with consumers, to the Attorney General's attention years ago.  The MMA is pleased that this situation has finally seen the light of day and consumers will recover some of their losses.

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Chad A. Kreblin

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Michael F. Hupy

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