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Wells Fargo Forced Me to Buy Their Car Insurance

Written by Michele Wilmonen. Posted in Ask An Insurance Question Last Updated: 08/30/2017

Q: Why did Wells Fargo charge me for car insurance when I already had a policy?

A: This Washington Post article is a really good explanation of what has been going on over at Wells Fargo for the last 6 years.

To put it short and sweet, Wells Fargo was basically charging people for forced place car insurance that they should never have been forced to have. Not only did this cost many people additional money, it also caused some to default on their loans and lose their vehicles; which also means that it ruined their credit.

Now that they have caught this “error” people are supposed to be getting refunds. But if you were one of the ones that lost your vehicle and had your credit ruined because of this, don’t settle for the refund. It would probably be a good idea to talk to an attorney about what options you have available to you to rectify this.

With this coming on the tail of the fake bank accounts and credit cards that were being created by Wells Fargo employees, it makes it a little bit harder to believe that this forced place car insurance was just an “error”.


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Michele Wilmonen

Michele's first introduction to insurance was working for a major insurance company as a file clerk and a mailroom supervisor in a regional office. She learned insurance directly from underwriters and claims adjusters from questions and also watching them do their job. Since then, she's earned a number of insurance certifications from the Insurance Institute of America and also a Bachelor’s degree from the University of Idaho. She blogs at Car Insurance Guidebook.

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