Farmers Insurance

Founded in 1928, Farmers Insurance Group of Companies was known then as Farmers Insurance Exchange. Farmers Insurance was an automobile insurer in the very beginning, but customer demand for more insurance and additional service required that the company branch out and offer services such as the Fire Insurance Exchange and the Truck Insurance Exchange. These services were able to fit the needs well back then, and the insurance services offered still fit consumers well today as the Farmers Insurance Group of Companies is the country’s third largest policy writer of private passenger automobile policies and homeowners insurance. Though Farmers Insurance started as a small insurance company, today it is well-known and gaining new clients all the time.

Farmers Insurance Ratings »

3.3Overall
3.2Coverage
3.3Cost
2.8Service
4.0Claims

Based on 6 reviews - 0 is lowest, 5 is highest

Farmers Insurance Group of Companies has their corporate offices in Los Angeles California. The insurance company operates in most states across the country and provides insurance to consumers via the help of more than 18,000 employees. Farmers Insurance agents are independent contractors and independent agents and they help the 18,000 employees service more than 15 million customers, a number that is always growing.

Farmers Group, Inc is both a provider of insurance management services and a holding company. The group is a holding company that acts as legal representation for three reciprocals: Farmers Insurance Exchange, Truck Insurance Exchange, and Fire Insurance Exchange. It is important to note though that the management company is not an owner of these insurance companies. Farmers Group, Inc. is also a life insurance holding company of the Farmers New World Life Insurance Company. Farmers Insurance has branched out and offers a whole host of services that meet the needs of their customers.

Farmers Insurance continues to look for opportunities, and in March of 2000 they purchased Foremost Insurance Company located in Michigan. This insurance company is an industry leader in insuring specialty products such as mobile homes, motor homes, travel trailers, and other specialty dwellings. The acquisition of this insurance company was a great deal and it has added to the efficiency of the business as well as the ability to meet the insurance needs of any consumer.

Many consumers are also finding that they can depend on Farmers Insurance to provide them with Life Insurance through Farmers’ New World Life Insurance Company located in Mercer Island, Washington. This life insurance company offers consumers products such as universal life insurance, traditional term life insurance, whole life plans, and annuities. These products and services are marketed by Farmers Insurance agents.

Looking Back: Farmers Insurance Background

The Farmers Insurance Group of Companies was founded in 1928 under the name Farmers Insurance Exchange, located in Los Angeles California. The small company began by offering automobile insurance; but it wasn’t long until consumers wanted more from their insurance company and Farmers added both home and commercial insurance. Today Farmers Insurance Group of Companies is the third largest writer of both private passenger automobile and homeowners insurance in the nation. Farmers Group is managed by Zurich Financial services and operates in most states across the nation. The company employs more then 18,000 people and many agents that are independent contractors.

Farmers has been able to stay strong the in very competitive insurance industry coming in behind Allstate, State Farm, and Progressive in auto insurance net written premiums. Farmers Insurance was the first insurance company to offer discounts to those that purchased hybrid vehicles to protect the environment.

Like any company, Farmers Insurance Group has had both good and bad reviews. The insurance company has received high marks for their customer service at their call center and has been recognized for providing Outstanding Customer Service by industry leader J.D. Power and Associates. The insurance company also received an A from industry analyst A.M. Best because of name brand recognition. While the insurance company has gotten high marks in some areas, they have also struggled in others, including complaints where overall customer satisfaction is concerned and the Better Business Bureau giving the insurance company an F. The FBIC also rated Farmers Insurance as one of the five worst U.S. bad faith insurers.

Farmers Insurance has had a lot of positive feedback in addition to the negative feedback, and the insurance company keeps pushing forward, treating the setbacks as opportunities to become better and improve service. Farmers is one of the nation’s most popular as well as one of the most well established, and despite some complaints and setbacks, is still able to compete with the newer insurance companies that are out there today.