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Legal Action Against Farmers Insurance

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Farmers Insurance: Company Profile

The Farmers Insurance Group of Companies is a personal lines property and casualty insurance group providing homeowners insurance, auto insurance, life insurance, and financial services in the United States. It is the third largest insurance group in the US servicing over 10 million households in 41 states.[6] Farmers Group Inc. is headquartered in Los Angeles, California.

The Company's products include:

• Auto insurance - Farmers provides auto insurance coverage for autos and collective automobiles.
• Motorcycle insurance - Farmers provides motorcycle insurance coverage through their Foremost Insurance Group.
• Home insurance - Farmers provides insurance for homes, condominiums, and mobile/manufactured homes. Farmers also provides special coverage for renters, earthquakes, floods, and identity theft.
• Life insurance - Farmers provides term, whole, and universal life insurance. Life annuities are also issued by their Farmers New World Life Insurance Company.
• Recreational insurance - Farmers provides insurance coverage for boats, ATVs, RVs, and travel trailers.
• Financial services - Farmers provides mutual funds, variable annuities, and variable universal life insurance through Farmers Financial Solutions, LLC.
• Business insurance - Farmers provides business insurance coverage for landlords and commercial property owners, contractors, condominium homeowner associations, and businesses in the manufacturing, service, restaurant, retail, wholesale, and auto service & repair industry.

Lawsuits Brought Against Farmers Insurance

If you have been involved in an accident where either you or the at-fault has been insured by Farmers Insurance, it is imperative that you research historical litigation involving the insurance company if you hope to be successful in negotiating your own settlement or court case. Research will assist you in avoid repeating similar mistakes others have made when legally dealing with insurance companies and can provide insight as to which courses of action might affect the value of your settlement. Additionally, substantial legal research helps highlight pivotal strategies and avenues that have historically helped win lawsuits against major insurance companies such as Farmers Insurance.

Insurance companies are renowned for stalling the release of settlement funds until the absolute last possible minute. While the ethics of this practice are highly questionable, the practice is unfortunately implemented by an extremely high percentage of insurance companies. This strategy has been devised as both a money-making and a money-saving technique. Major insurance companies usually have access to tens of billions of dollars due to high volume revenue and cash flow. Similar to banks, they invest these funds in order to amplify their profits. Even if they are required to pay a settlement, they will hold the money as long as legally possible in a leveraged effort to increase their own profits through the interest they earn on their investments.

In addition to delaying the disbursement of settlement funds, most insurance companies implement many of the following strategies to cut costs and generate profit:

• Nickel and dime smaller individual clients with various charges with the knowledge they cannot afford to investigate their legal options.
• Present clients with a very small initial settlement offer, as many policy holders do not realize they do not have to accept the insurance company’s first offer.
• Wait until the last possible week to disperse funds, as some negotiations can last well over a year.
• If you have sustained personal injuries that will be permanent, it is important to use an expert trial attorney.

Cases Involving Farmers Insurance:
Jury Awards Half-Million Dollars Against Farmers Insurance (View Full Article – Davis Law Group)

Further Research:

Davis Law Group Library – Farmers

Links:

Can I file a lawsuit against Farmers Insurance?
Who else has filed a lawsuit against Farmers Insurance?
List of lawsuits brought against Farmers Insurance.

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Phone: (206) 727-4000
Fax: (206) 727-4001

 

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