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Farmers Auto Insurance - Farmers



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Company Overview

Farmers Insurance Group, Inc., provides insurance management services to its customers and also serves as a holding company. The provider keeps headquarters in Lost Angeles, California. The Farmers Insurance Group of Companies includes the Farmers New World Life Insurance Company, Farmers Insurance Exchange, Truck Insurance Exchange, and Fire Insurance Exchange. With all of these subsidiaries and exchanges, Farmers Insurance is able to offer a wide range of insurance products to their customers. Today, Farmers Insurance is America's third-largest provider of both private car insurance and homeowners policies.



Company History

The Farmers Insurance Group of Companies began in 1928 in Los Angeles, California, as Farmers Insurance Exchange. Farmers Insurance Exchange was a car insurance provider, and soon customers were demanding other insurance services, such as home and commercial insurance. This caused the new company to start the Fire Insurance Exchange and the Truck Insurance Exchange to meet these needs. The company is managed by Zurich Financial Services, but is not owned by the company. Today, Farmers Insurance Group of Companies operates in 41 states and employs around 18,000 people. The company, along with the independent agents and independent contractors they hire, reaches over 15 million consumers with its insurance products.

Farmers Insurance Ratings

2 Reviews | Submit Review|More Reviews
Coverage:
3 out of 5
Cost:
4 out of 5
Customer Service:
1 out of 5
Claims:
3 out of 5
Farmers Group, Inc., provides insurance management services and acts as a holding company under the DBA Farmers Underwriters Association. Farmers Group, Inc., wholly owns two subsidiaries, Truck Underwriters Association and Fire Underwriters Association. These three groups act as attorneys-in-fact for three inter-insurance exchanges, including Truck Insurance Exchange, Farmers Insurance Exchange, and Fire Insurance Exchange. The management company does not own these exchanges. Farmers Group, Inc., also serves as a life insurance holding company for the Farmers New World Life Insurance Company. The Farmers New World Life Insurance Company is based out of Mercer Island, Washington. This subsidiary of the Farmers Group provides a variety of life insurance products to customers, including universal life, term life, and whole life plans, which are marketed by insurance agents. In March of 2000, Farmers Insurance acquired the Michigan-based insurance company, Foremost Insurance Company, to add to the group. This insurance provider covers specialty vehicles and dwellings, such as travel trailers, motor homes, mobile homes, and specialty houses.

Facts and Figures

Farmers has ranked 4th in car insurance net written premiums behind State Farm, Progressive, and Allstate. It was also the first car insurance company in America to offer customers a discount on their rates when they purchased a hybrid vehicle. The Farmers Insurance group has received some accolades and awards in recent years. For instance, the Farmers Insurance Group HelpPoint certified call center has been recognized by J. D. Power and Associates as providing an outstanding customer service experience. The company also received an "A" rating from A.M. Best because it is, according to A. M. Best, "a dominant personal lines insurer with strong brand name recognition." A. M. Best also indicated that the Zurich, the management company, has proven to be skilled at providing opportunities for cross marketing and utilizing the best business practices in the industry.

While these organizations have given Farmers Insurance a good rating in some areas, many customers, claims adjusters, and insurance agents have disagreed strongly. For instance, Consumer Reports gave Farmers Insurance Homeowners a "Worse" rating in 2003 for "Delayed Payments" and "Problems with Claim." Then in March of 2006, Consumer Reports also ranked Farmers Insurance as one of the "Poorest Performers" in a list of 27 insurance companies when it came to paying claims within 30 days. Finally, in an overall listing of satisfaction with car insurance companies, Consumer Reports marked Farmers Insurance as one of the lowest on the list.

State Insurance Commissioner reports indicate that in Arizona, California, Colorado, Oregon, Texas, Washington, and several other states, Farmers Insurance had the most complaints listed. Also, the Better Business Bureau gave Farmers Insurance an "F," which is the lowest possible rating on their scales. The FBIC rated Farmers Insurance as one of the five worst American bad faith insurance companies. J. D. Power and Associates also gave Farmers Insurance some low marks. They gave Farmers Insurance their lowest rating for several categories, including claims handling and pricing in the car insurance group, claim settlement and overall experience in the collision repair group, and pricing in the homeowners insurance group.

Farmers Insurance is a registered trademark of Farmers Insurance. Farmers Insurance is not affiliated with, nor does it endorse or sponsor, the contents of this webpage or the QuoteCarInsurance.com website. Trademarks referring to specific providers are used by QuoteCarInsurance.com for nominative purposes only: to truthfully identify the source of the products about which information is provided. Such trademarks are solely the property of their respective owners.



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2 Customer Reviews
I feel sad in writing this but I have lost all faith that I once had in Farmer's Insurance. When I had to make a claim the representative assured me that everything would be fine and that the claim process was a simple one. That was an outright lie. Regardless of the fact that I insist on paying
Cov: 1 Cost: 3 Serv: 1 Claim: 1
Anonymous
Wow! I was shocked to see some people actually disappointed with farmer's insurance when I checked out some of the reviews here. I believe that Farmers Insurance is an excellent carrier, one that I am proud to be a customer of. I get terrific service and I haven't seen lower rates being offered a
Cov: 5 Cost: 5 Serv: - Claim: 5
Sherry T.
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