Farmers Insurance Bad Faith Insurance Practices
All insurance companies, including Farmers Insurance Group, are required to act in good faith when handling the insurance claims of their policyholders and certain third parties. This means that in investigating, processing, and settling insurance claims, Farmers Insurance must refrain from acting dishonestly or with the intent to harm its customers and others.
If you believe that Farmers Insurance or any of its subsidiaries has acted in bad faith with respect to an insurance claim that you filed, you may be able to bring a bad faith insurance lawsuit against the company. To learn more about which types of insurance company tactics are generally considered to be bad faith practices, click here. If you have questions about whether Farmers Insurance has acted in bad faith, contact one of our experienced Colorado bad faith insurance lawyers through this online form.
About Farmers Insurance
Farmers Insurance Group (commonly referred to as “Farmers”) is an insurance group based in Los Angeles, California. It provides insurance and financial services to approximately 10 million households in the United States. Its parent company, Zurich Insurance Group, is one of the largest corporations in the world, ranking 84th on the Forbes Global 2000 list. In 2013, Zurich Insurance Group reported more than $4 billion in profits.
Farmers Insurance Group is the parent company of the following wholly-owned subsidiaries:
- The Farmers Exchanges,
- The Foremost Insurance Group,
- The Bristol West Insurance Group,
- 21st Century Insurance,
- Farmers New World Life Insurance Company, and
- Farmers Financial Solutions, LLC.
Farmers Insurance Group provides the following types of insurance policies:
- Auto insurance,
- Home insurance,
- Renters insurance,
- Life insurance,
- Business insurance,
- Motorcycle insurance, and
- Sport and recreational vehicle insurance.
Bad Faith Insurance Practices by Farmers
Insurance watchdog group Fight Bad Faith Insurance Companies (“FBIC”) ranks Farmers fifth on its list of “Hall of Shame” insurance companies. In ranking the worst insurance companies from which to buy, FBIC takes into account the total number of claims denied and customer complaints of bad faith insurance practices.
Both the Better Business Bureau and Consumer Reports have chronicled Farmers below-average customer satisfaction ratings. Farmers has received a grade of “F” from the Better Business Bureau. A 2010 report by Consumer Reports ranked Farmers 17th out of 22 insurance companies in terms of overall customer satisfaction level. In addition, a 2012 study by JD Power and Associates rated farmers a 3 out of 5 for its handling of auto insurance claims in the United States.
In Colorado, Farmers has been held liable for its bad faith insurance practices in jurisdictions across the state. Farmers must abide by the Colorado bad faith insurance laws applicable to insurance companies operating in the state, and can be held legally responsible when they do not.
Filing a Colorado Bad Faith Insurance Lawsuit against Farmers
If you live in Colorado and are concerned that Farmers or any of its subsidiaries has acted in bad faith with respect to your insurance claim or claims, contact an experienced Colorado bad faith insurance lawyer to discuss your rights.
The skilled lawyers at McCormick & Murphy, P.C. have successfully handled dozens of insurance bad faith cases in Colorado courts. To speak with us about your situation, call 1 (888) 668-1182 or submit a question online.
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Disclaimer: Information provided on this site is NOT formal legal advice. It is generic legal information. Under no circumstances should the information on this site be relied upon when deciding the proper course of a legal action. Always get a formal case evaluation from a licensed attorney if you think you might have a personal injury lawsuit.