Posts Tagged ‘ Safety Insurance ’

Coakley Loses, but Wins Big for MA Motorcycle Owners

January 21st, 2010. By AbiK

Git your motor runnin’…The Democratic loss in Massachusetts was (is still) all over the news—but one bit of news about MA Attorney General Martha Coakley was not so prevalent: her settlement to the tune of $11.1 million with motorcycle insurers who overcharged riders.

It seems that a few motorcycle insurers—Safety Insurance Company, Liberty Mutual Insurance Company, and Quincy Mutual Fire Insurance Company—were allegedly basing their premiums for motorcycle insurance on incorrect motorcycle values.

Now, if you’ve ever had your heart set on a Harley, and had to wait to save up the money for that Fat Boy or Low Rider (personally, I’d be going for a Sportster 883 or 1200), the last thing you want to do is cough up even more money on a high insurance premium. But you’re typically at the mercy of the insurance company—you need insurance to ride, and motorcycle accidents do happen.

Upon an investigation that, according to insurancenewsnet.com, began over a year ago, it came to light that the insurance companies were basing their collision and comprehensive premiums not on the current book values of the bikes being insured, but on values that were out-of-date and inflated.

An example given was for a 1999 Harley Davidson Road King Classic (which nowadays will set you back about Read the rest of this entry »

Tags: Insurance, Liberty Mutual, Massachusetts, Motorcycles, Quincy Mutual, Safety Insurance
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