Martha Coakley, Massachusetts Attorney General, has announced approximately three million dollars has already or will be returned to Massachusetts motorcyclists who were overcharged by Liberty Mutual. The insurance company is required by terms of a settlement reached in December to complete the process of issuing the refunds by May 1. Refunds range from amounts of $250 to $9,200 with an average refund of $334.
According to an article published in Legal Newsline, refunds of less than $250 will be distributed to 5,851 Massachusetts residents and 1,560 residents will receive refunds of between $250 and $499. Refunds of between $500-$999 will be sent to 1,136 residents while 740 will receive refunds of between $1,000-$9,200.
Liberty Mutual Customers who are eligible for a premium refund must have purchased insurance with either comprehensive or collission coverage for a motorcycle between January 1, 2009 and March 30, 2009. The Attorney General stated that Liberty Mutual has overcharged motorcycles during this time period.