Farmers Insurance Group

The United States insurance industry is one of the most profitable industries in the country, with trillions of dollars in assets and profits of over $30 billion a year. Yet they routinely fight aggressively to avoid paying even small legitimate claims to their policyholders. Farmer's insurance company is no exception. While they spend millions in advertising, they routinely encourage their claims adjusters and employees to engage in bad faith practices.

Insurance Bad Faith Practices

One of the main ways Farmer's and other insurance companies achieve such high profits is to engage in bad faith practices. Some of these practices include delaying payments in the hopes that you will give up, denying valid claims, offering policyholders far less than they need, and failing to return phone calls. Accident victims who are having trouble with their insurance company begin to feel as if there is no hope. As a result, they usually settle for far less than they need—and deserve. Farmer's insurance and their Quest for Gold In order to encourage employees to offer low payments to policyholders, Farmer's ran an employee incentive program called "Quest for Gold". This program awarded gift certificates and pizza parties to adjusters who met specific low payment goals. They even told claims representative to stop paying claims—even when valid. They routinely encouraged small payouts—and their policyholders were the victims.

Farmer's Insurance and Bad Faith

How bad is Farmer's? So bad that JD Powers and Associates ranked it the worst insurance company for auto insurance, giving it only 2 out of 5 stars. The Better Business Bureau also ranked it poorly because it received the most consumer complaints with 501!

If you have been the victim of an insurance company, you need an aggressive insurance attorney on your side. Insurance companies, like Farmer's, will often play hardball with accident victims—until they obtain legal representation. With an attorney in your corner, you can fight the insurance companies and obtain the maximum compensation.

You may unknowingly damage your car accident claim by speaking with an insurance adjuster. Remember, they are looking for ways to deny your claim or reduce your settlement. Any information you provide them can and will be used against you to lower your claim.

https://www.thegoldlawfirm.net/farmers-insurance-engages-bad-faith-practices/