Is Farm Bureau a good insurance company?

UPDATED: Nov 29, 2011

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UPDATED: Nov 29, 2011Fact Checked

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Asked November 29, 2011

1 Answer

Farm Bureau insurance has been in operation for more than 60 years, and has grown from a company with limited offerings to the farming community to a full service insurance company offering many lines of coverage including home, auto, health, life and long term disability insurance, as well as the original farm, ranch, crop and commercial agriculture lines.

Financial Rating
A.M. Best reports a financial rating of B+ for Farm Bureau, and notes that the company is currently under review pending a merger of three different Farm Bureau groups, with an expected positive outlook which could increase the ratings after those mergers are completed. The company is traded on the NYSE under the FFG ticker symbol, and reports more than $5.4 billion in available assets.

Customer Satisfaction
Customer satisfaction in Farm Bureau is split almost evenly, with 48% reported at least some level of customer satisfaction and 42% reporting dissatisfaction. Because online customer ratings tend to run towards the negative, the 48% satisfaction rating should be taken a positive sign. Leading customer complaints include slow claims responses and inattentive customer service.

Farm Bureau Reviews

Company Availability
Farm Bureau is represented by dedicated agents in 15 states, with more than 2200 employees and 1900 dedicated agents. Farm Bureau is currently licensed to sell insurance in AZ, CO, ID, IA, KS, MN, MT, NE, NM, ND, OK, SD, UT, WI and WY, but pending mergers make increase the availability to other states in the near future.

The Bottom Line
Farm Bureau Insurance has come a long way since its inception as a farm-oriented insurance company. Their steady growth over the last 60 years is indicative of a strong and dependable company. Policyholders are assured that the company will be around for many years to come, and investors can invest with the knowledge that the company is safe and financially stable.

Answered November 29, 2011 by Anonymous

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