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MC insurance overcharging


ReconRat

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Massachusetts state courts have discovered that motorcycle insurance companies don't depreciate the value of the vehicle over the term of the policy, for motorcycles.

Which means they continue to charge the motorcycle owner as if the motorcycle was still worth what was originally paid for it. Note that they probable wouldn't give you that much in a payoff.

Be sure to ask your insurer, how much the policy is insuring for in total.

The Patriot Ledger

Five more insurers settle motorcycle overcharge cases

Motorcyclists to be reimbursed for more than $12 million in overcharges

By Jon Chesto

The Patriot Ledger

Posted Oct 13, 2010 @ 03:52 AM

BOSTON —

The refunds continue to roll in for motorcycle riders now that Attorney General Martha Coakley’s office has reached settlements with five additional insurance companies to collectively reimburse their customers for more than $12 million in overcharges...

More articles

http://www.boston.com/news/local/breaking_news/2010/10/mass_bikers_to.html

http://www.insurancejournal.com/news/east/2010/10/12/113977.htm

Edited by ReconRat
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$453/ yr. for mine and it's not changing...with S.F. Doesn't matter to me either way. If it goes up, I'll turn it into a track only bike and use the money I'd of normally spent for ins. and do a bunch of track days each year.

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He said Katana, not Busa lol!

I pay $250/year for my ZX10R with MASSIVE amounts of coverage through SF - but I'm an old fart, married, kids, mortgage and such.

You guys shouldn't complain - in CA you be paying per MONTH what you are currently paying per year...

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no thats correct on a busa, i said the same thing you did. I had them triple check it and their boss checked it and said the same thing, around 500 a month. i have a perfect record and low rates. (btw these rates are full coverage with good coverage).

I think one reason im cheaper is because im a "seasonal" rider, but they said i could ride anyday if i really wanted, basically im not paying for like three months or so.

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