An announcement from Attorney General Martha Coakley has stated that Massachusetts motorcycle owners who have been overcharged by their insurers will be receiving over $5.6 million more in refunds following the most recent settlements. All told, there are 15 motorcycle insurance companies involved in the settlement with the attorney general, agreeing to refund almost $40 million to their policyholders in Massachusetts. Coakley’s press release, which announced the settlement, said that she is satisfied with the investigation that was initiated by the complaint of one customer, but that “has resulted in…
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Massachusetts motorists to receive refunds for overly priced motorcycle insurance
Motorcyclists in Massachusetts are about to receive refunds from insurance companies that may have overcharged for coverage this week. State insurance regulators have been investigating the issue for the best part of two years. Last year’s settlements brought motorists nearly $35 million in payouts. This year, three insurance companies have agreed to settle outstanding claims, which will bring an additional $5.7 million to motorcyclists in the state. According to Attorney General Martha Coakley, Travelers, Fireman’s Fund and the Electric Insurance Company have all agreed to issue refunds for overly inflated…
Read MoreWomen motorcycle drivers are increasing in numbers and are taking courses to learn how
Data from the Motorcycle Industry Council has shown that between 2003 and 2008, the number of women who own and drive motorcycles has increased by 52 percent, and many of those women are putting in the time and effort to learn how to ride the bike by taking a course. According to the Westside Motorcycle Academy (WMA) – which offers a course approved by the Motorcycle Safety Foundation – more than half of their riders are female. In fact, the school is also owned by two women, Amanda Cunningham and…
Read MoreMotorcycle thefts in the United States dropped by 24 percent in 3 years
The National Insurance Crime Bureau has announced their latest statistics regarding motorcycle thefts, and said that in 2010, the number of stolen vehicles fell by 24 percent when compared to the total in 2007. In 2007, there had been 65,678 stolen motorcycles reported, but in 2010, that number fell to 49,791, according to the National Crime Information Center data. The statistics also identified the makes that were most frequently stolen in 2010. As with automobiles, the top manufacturer of stolen motorcycles was Honda (12,260). This was followed by Yamaha (9,853),…
Read MoreThe right choices mean consumers can save more money on motorcycle insurance
Motorcycle owners who aren’t ready to give up their vehicles over the price of insurance premiums are coming up with some effective ways to save money and yet still maintain the level of coverage that they need. The first step is to make certain that the opportunity for theft or vandalizing of the motorcycle is reduced. When you buy a bike, make sure that you have a place to store it. Since they don’t require that much space, a small portion of your garage, or even a shed will usually…
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