Maryland Auto Insurance Customers are Refunded Fees
Wednesday, April 22nd, 2009
According to the Baltimore Sun’s Liz Kay, 67 Maryland auto insurance companies have been fined by the state’s Insurance Administration. The insurers were found to have under compensated drivers whose cars have been deemed a total loss, by failing to take into account increases in state sales tax and Motor Vehicle Administration fees when calculating a car’s value.
Liz reports that the over 4,000 drivers affected have already received refunds, averaging about $100 each (total restitution being $442,000). The companies (listed here) were also charged a $235,000 fine. Always make sure to make sure exactly what level of auto insurance claim your policy covers, so you aren’t greeted with an unpleasant surprise.
