A recent article by Eric Lee on InsuranceNewsNet describes potential class action filings against auto insurers regarding premiums for collision coverage on the grounds that the premium for this coverage allegedly was not reduced as the vehicle depreciated.  The article describes the founder of Auto Insurance Relief, which is apparently a California-based company, as having “discovered his mother had been paying the same premium amount for collision coverage for the past 11 years, and her coverage never decreased as her vehicle depreciated.” The article does not identify what insurance company was involved in that.  The Auto Insurance Relief website appears to solicit insureds to seek individual refunds of overpayments of premiums for a 5-year period through a service they provide (which charges a $29.99 fee).  

I have not yet looked into this issue further, but thought readers of my blog would be interested to know that there is an organization seeking to sign up insureds to pursue this issue and it has received some early attention in the industry media.  I have not yet seen any putative class actions filed on this issue.