State Farm announced a profit for 2015, of $ 6.2 Billion dollars. This was on REVENUE of $ 82.7 Billion dollars. I’ll let that sink in for a minute here. They made this amount of money after they could not spend on CEO and managers salaries, and of coarse hide any more money, and still paid taxes, and still posted profits of $ 6.2 BILLION DOLLARS.
And we call politicians legalized crooks. All you have to do is look at STATE FARM and see a legal crook. Lawsuit’s across the country will show that STATE FARM blatantly breaks the Bad Faith Claims Law, and that it is cheaper for STATE FARM to fight thousands upon thousands of lawsuit’s with attorney’s, then to act properly for their own policy holders on those claims that were submitted to STATE FARM.
But in all fairness, this company is not the only one. ALLSTATE, FARM BUREAU, NATIONWIDE, ERIE, AUTO OWNERS. Are on every online billboard that shows that these companies have the most complaints about not paying properly on claims.
This is the normal operating procedure for these companies. If you are not prepared for a fight with an attorney to help settle your claims against the likes of State Farm and the other companies then you will lose. There is no other outcome for you. And by the way you must be prepared to go all of the way to and in front of a jury. If not don’t bring the complaint to begin with.
This is all well known to the insurance companies. This is also why it is cheaper for these insurance companies to screw you out of a legal claim than to pay properly from the very beginning.
Thru our North Carolina Department of Insurance these insurance companies have had a lot of people paid off and have had the laws and procedures changed against the citizens and in favor of these insurance companies. Not these same insurance companies want the law makers to pass more laws that will restrain more people from bringing suit against them.