Mathew B. Sims is Editor-in-Chief and has authored, edited, and contributed to several books. He has been working in the insurance industry ensuring content is accurate for consumers who are searching for the best policies and rates. He has also been featured on sites like UpJourney.

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Dan Walker graduated with a BS in Administrative Management in 2005 and has been working in his family’s insurance agency, FCI Agency, for 15 years (BBB A+). He is licensed as an agent to write property and casualty insurance, including home, auto, umbrella, and dwelling fire insurance. He’s also been featured on sites like Reviews.com and Safeco. He reviews content, ensuring that exis...

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Reviewed by Daniel Walker
Licensed Auto Insurance Agent

UPDATED: Aug 24, 2020

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Company Details
Address: 15700 Long Vista Drive
City: Austin
State: TX
ZIP Code: 76728-3822
Phone Number: +1-800-327-6377
Website: http://www.zurich.com
Year Founded: 1967
AM Best Rating: A+ (“SUPERIOR”)
Company Rating 0 (0 reviews)

Things to Remember...

  • Texas Farmers Auto Insurance is a member of the Farmers Insurance Group
  • The company was originally approved to write personal auto insurance coverage and comprehensive liability lines in Texas in 1967
  • In 2009, Zurich Financial purchased 21st Century Insurance, the private passenger insurance unit owned by AIG for about $2 billion

This Texas Farmers Auto Insurance Review explores Texas Farmers Insurance Company of Austin, Texas. According to the Texas State Department of Insurance, the Texas Farmers Insurance Company was acquired by Allied Zurich PLC, an operating subsidiary of Zurich Financial Services, in 1998.

Prior to 1998, the company was part of the Farmers Insurance Exchange (headquartered in Los Angeles, California). The company was originally approved to write personal auto insurance coverage and comprehensive liability lines in Texas in 1967.

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Texas Farmers Auto Insurance History

Texas Farmers Auto Insurance is a member of the Farmers Insurance Group (an insurance subsidiary owned by Zurich Financial Services).

In 2009, Zurich Financial purchased 21st Century Insurance, the private passenger insurance unit owned by AIG for about $2 billion.

The combined Farmers Insurance-21st Century unit is now one of the top U.S. private auto insurance companies.

According to the Texas Department of Insurance, Texas Farmers Insurance Company reported total assets of about $244 million and liabilities of about $163 million at year-end 2010.

The stated asset to liability ratio is 1.5. The agency has approximately $1 million in capital and approximately $80 million in policyholder surplus. The company wrote approximately $368.4 million in premiums in 2010 vs. $404.9 million in 2009.

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Texas Farmers Auto Insurance Customer Complaints

The Texas Department of Insurance reports that Texas Farmers Insurance Company had 3 justified auto insurance complaints as of June 17, 2011, compared to 4 justified auto insurance complaints as of December 31, 2010. The company had 2 justified auto insurance complaints as of December 31, 2009.

The company’s complaint ratio/index rose from .2288/16.5004 as of December 31, 2009 to .8677/69.7705 at year-end 2010. They cleared one justified complaint between December 31, 2010 and June 17, 2011.

Justified customer complaints are complaints that appear to break insurance law violations.

Texas Farmers Insurance Company is currently authorized to write auto liability, auto physical damage, glass, fire, and allied coverage.

They are also authorized to write for:

  • Air physical damage
  • Aircraft liability
  • Boiler and machinery
  • Burglary and theft
  • Employers liability
  • Fidelity and surety
  • Forgery
  • Hail
  • Inland marine
  • Livestock
  • Ocean marine
  • Workers comp liability
  • All reinsurance lines.

Texas Farmers Auto Insurance and Zurich Financial Services

Sister companies of the Farmers Insurance Group include:

  • 21st Century Insurance Company
  • Foremost Insurance Company
  • Bristol West Holdings, Inc.
  • Farmers New World Life Insurance Company
  • Zurich American Insurance Company

Zurich Financial Services—Farmers Insurance Group’s ultimate parent—ranks 187th in the 2010 Financial Times 500. The company is one of the largest global insurance companies in the world.

The parent company is publicly traded on the Zurich Stock Exchange (Symbol: ZURN). In 2009, the company generated $70.27 billion in global sales.

Farmers Insurance Group, of which Texas Farmers Insurance is a part, represented 12 percent of the parent company’s global sales. General insurance policies represented approximately 45 percent and life insurance represented 38 percent during the period.

The company has total assets of about $368.91 billion. Zurich Financial Services reported net income of about $3.24 billion for the year. About 60,000 people work for the company in 170 countries around the globe.

Texas Farmers Auto Insurance Competitive Marketplace

Zurich Financial Services competes with three companies—AXA, Allianz, and Aviva—most frequently on a global basis. Mitsui Sumitomo and Generali compete with Zurich Financial Services outside of the company’s core European markets.

Other companies compete with Zurich Financial Services in the United States national market (with Farmers Insurance Group and 21st Century Insurance personal auto insurance lines).

Zurich Financial Services competes with:

Don’t wait another moment to start comparing your current auto insurance rates. Get fast, free auto insurance quotes from other competitive auto insurance companies. To request your no-cost, no obligation auto insurance quotes, enter your ZIP code below!

References:

  1. http://www.zurich.com
  2. http://www.21st.com/
  3. http://www.tdi.texas.gov/
  4. https://www.allstate.com/tools-and-resources/car-insurance/liability-car-insurance-cover.aspx
  5. https://www.irmi.com/online/insurance-glossary/terms/w/workers-compensation-and-employers-liability-policy.aspx
  6. https://www.bristolwest.com/bristolwest/home.aspx
  7. https://www.allianzlife.com/
  8. http://www.aig.com/individual