
Settlements have been reached by Massachusetts Attorney General Martha Coakley with four auto insurance companies over allegations that they overcharged Massachusetts consumers for Harley Davidson Motorcycle Insurance.
The state's investigation into Harley Davidson Motorcycle rating practices began in the fall of 2008 following a complaint from the owners of a 1999 Harley Davidson Road King Classic that had been valued at $20,000 by Safety Insurance company. After the Harley Davidson Motorcycle was stolen, the company offered $11,000 to settle the claims and tried to refund $1,500 in premiums that had been based on the $20,000 value used from 2003 to 2008.
This complaint led Coakley's office to begin reviewing Harley Davidson Motorcycle Safety Insurance and other Harley Davidson Motorcycle insurance companies' practices of inflating and un-depreciating Harley Davidson Motorcycle values to rate coverage.
Many auto insurers operating in the Massachusetts marketplace were revealed to have failed to obtain current book values for Harley Davidson Motorcycle motorcycles they insured and instead used inflated and out of date values to calculate premiums, leading to multiple settlements, Coakley said.
Harley Davidson Motorcycle Insurance News
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