Special Report
Farmers Insurance Is the Most Hated Insurance Company in America
Published:
Last Updated:
Farmers Insurance is well known for its TV commercials that feature widely acclaimed actor J.K. Simmons. He appears as a kindly insurance company executive who wants people to have better insurance for less money. If the reason for the marketing is to get people to think better of Farmers, it has not worked.
According to the American Customer Satisfaction Index’s Insurance and Health Care Study 2021-2022, Farmers got the lowest score in the industry in 2022, as it did in 2021, and its score has not improved. (Also see, 21 states where the most people don’t have health insurance.)
Farmers Insurance was indeed founded to help farmers. Founders John C. Tyler and Thomas E. Leavey, who came from rural areas, started the company in 1928, believing farmers experienced fewer risks with their vehicle and therefore deserved better rates. The company, which currently sells home, life, and car insurance, has settled at least five lawsuits that range from discrimination to acting in bad faith since 2005.
Farmers was acquired by Swiss-based Zurich Insurance in 1998. Zurich is a financial behemoth with 56,000 employees. It does business across 210 countries and territories. (These are America’s most hated industries.)
To come to the conclusion that Farmers is so poorly regarded, the ACSI surveyed 12,841 people between October 2021 and September 2022. Customers were asked about different aspects of their experience with their insurance companies.
The categories with the lowest rate of customer satisfaction were availability and range of policy discounts and rewards, ease of understanding billing statements, speed of most recent claim processing and completion, and courtesy and helpfulness of representatives and agents. For these categories, around 75% to 78% of customers were satisfied.
Here is 24/7 Wall St.’s list of the most hated insurance companies in America.
Want retirement to come a few years earlier than you’d planned? Or are you ready to retire now, but want an extra set of eyes on your finances?
Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
Have questions about retirement or personal finance? Email us at [email protected]!
By emailing your questions to 24/7 Wall St., you agree to have them published anonymously on a673b.bigscoots-temp.com.
By submitting your story, you understand and agree that we may use your story, or versions of it, in all media and platforms, including via third parties.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.