Farmers Auto Insurance Company

Posted by Harry Wagner

Farmers Auto Insurance Company was founded in 1928, just one year before the Great Depression. After surviving the depression, Farmers Insurance grew to be one of the most recognizable names in the insurance industry and one of the most trusted brands as well. From a tiny studio office in Los Angeles, an industry giant was born. As a premier company offering great catastrophe response and a wide range of different products, Farmers is an auto insurance companies that serves farmers, commuters, suburbanites, and various other demographics throughout the United States.

Farmers Financial Rankings and Market Share

It is nice to give your business to a company with a rich history, but you need to know that this company with historic value has the financial backing it needs to pay claims no matter how big or how small. In the insurance industry, auto insurance companies must create rates that will sufficiently cover risk. If companies do not charge adequate premiums, they will not have the financial reserves necessary to pay the claims that have been forecast.

Not only does Farmers Auto Insurance Company have a rich history, they also have a strong financial rating from trusted consumer ratings bureaus like A.M. Best. With an A rating in Financial Strength and an A Long-term Credit Issuer Rating, the company has a stable outlook as reported by an unbiased source. While several younger companies have entered the industry and created more competition, Farmers still holds about 6.4% market share when it comes to auto insurance. While drivers are a target, Farmers agents typically look to insure entire households which can limit the demographic that they target.

Best-in-class Customer Service

You may never want to file a claim, but if you are in a situation where you need to file an insurance claim you want to know that your agent and your claims agent will be there for you. Farmers is a company that is based off of excelling in the customer service platform. With an award-winning claims department, the company makes filing insurance claims easy for their policyholders. Not only can you speak with a claims agent 24 hours a day, 7 days a week, you can also file or look up the status of your claim online. This is an example of a historic brand keeping up with other innovative companies in the industry.

Farmers Auto Insurance Company offers a wide range of auto, property, life, and financial products. If you want the service provided by an exclusive agent at an affordable price, Farmers could be the right company to buy your policy from. Price your personalized rates with Farmers, and see how this classic company competes.