Founded in 1928, Farmers Insurance is now the nation’s third largest insurance company. It sells, among other insurance products, car and truck insurance. The company is owned by Zurich.
Always a big player in the car insurance market, Farmers purchased AIG's auto insurance division (renamed 21st Century to remove the taint of the AIG name) a few years ago. Farmers also recently bought Bristol West, a car insurance company that began in Florida but is now selling coverage throughout the country. Accordingly, our law firm is seeing even more of Farmers. We regularly handle claims against this sometimes difficult insurer.Settlement with Farmers Insurance in Car Accident Claims
In our experience, Farmers is a difficult company to deal with for settlement of car accident claims. One big reason: they rely on a computer based program – Colossus – to evaluate personal injury cases. Paradoxically, we think this can be of benefit to accident victims in minor cases because sometimes Colossus suggests more in money damages in some smaller case than would be expected.
But in a severe case you are rarely, if ever, going to get fair value for your accident claim before filing a lawsuit. Moreover, computer programs used to create a settlement formula are just silly because they take out of the equation both the subjective qualities of the claimant (judges and juries give more to good, honest victims), and the fact that not everyone responds the same after car accidents and their injuries differ as well. Computer programs are one size fits all. The real world in personal injury cases is very different.Dealing with Farmers: A Dose of Reality
Much ado was made a few years back about how Farmers had an incentive program called "Quest for Gold" that offered pizza parties to its adjusters that met low claims payments goals. People were upset by this. Our lawyers were not surprised by any of it. We just assume this happens everywhere. This company just got caught.
These companies make money by taking in premiums and not paying claims. To be melodramatic: it is war. We have gotten reasonable settlements from Farmers. But the only way we get this is by, furthering the war analogy, the threat and use of force. It is the reality of dealing with insurance companies.They may be a bit more extreme than some other insurers, but they are all largely the same. They put profits over people, including their own customers.Our Lawyers Can Help You with Your Accident Claim
Our firm has successfully handled many auto accident claims involving this insurer. If you have been injured in a vehicle crash, call us at 800-553-8082 or click here for a free consultation.