Chase gouges homeowners on insurance: suit

“JP Morgan Chase gouges homeowners for temporary insurance, a class action claims in Federal Court. The named plaintiffs say Chase charged $403 for 20 days coverage, which it bought from its own subsidiary or affiliate, American Security Insurance Co. That works out to $7,300 a year for coverage for which they were paying $500 annually. They claim more than 100,000 people could be affected. ”

Complaint courtesy Courthousenews

Tags: American Security Insurance, class action, homeowners insurance, JP Morgan Chase