Farmers Insurance Company
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Farmers Insurance began its operations in 1928 when John C. Tyler and Thomas E. Leavey decided to create their own auto insurance company with a loan obtained from Bank of America. The company had its first Board of Governors meeting on March 28th and got its first customer two days later. Since that time, Farmers auto insurance has continued to be a popular choice with discerning customers who want to make sure that their vehicles are protected. Farmers is now the third largest insurer of personal lines in the United States. The company also handles some commercial insurance operations as well.
Since its beginning, Farmers Insurance has worked hard at giving all of its customers what they need and want. This includes auto insurance, life insurance, and property insurance, along with more specialized insurance options for commercial customers and those who need very specific coverage. Many companies have come and gone in the time that Farmers auto insurance has been around, but Farmers has remained strong because the company understands the value of its customers and knows how to do business in order to keep customers coming back for more.
One of the ways that Farmers Insurance has remained strong is through the acquisition of other companies. Farmers understood that growth was needed and that there were only so many ways to create that growth. The company couldn’t just sit back and wait for growth in such a fast-paced insurance market, and it had to expand if it wanted to ensure its place in the future of insurance. Auto insurance was a large part of Farmers’ business model, but other insurance needs had to be met as well. To this end, Farmers Insurance began to buy out other companies.
By working to acquire other, smaller insurance companies, Farmers was able to grow and become one of the industry leaders when it comes to many different types of insurance. Billions of dollars changed hands in some of these acquisitions, but Farmers auto insurance continued to thrive, as did the other insurance products the company had to offer. Good business sense put Farmers on the map and that same sense and careful attention to planning ahead has kept it there through all of the ups and downs that running a large business can bring. Because of its size, Farmers now enjoy the fruits of the labor that was started by two men who met by accident so long ago. The future appears to be very bright for Farmers Insurance and the people who put their trust in the company.