If Fire Insurance Exchange applied depreciation when calculating a payment made to you on a property loss insurance claim on or after May 6, 2010, you could be eligible for compensation. The terms of the Farmer’s Fire Insurance Exchange Class Action Lawsuit, alleges that Fire Insurance Exchange improperly applied depreciation to certain structural items that the plaintiffs contend are exempt from depreciation altogether. The Fire Insurance Exchange class action lawsuit challenges the method that Fire Insurance Exchange uses to determine the actual cash value of lost or damaged property.
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Farmers Insurance Class Action Lawsuit:
- Farmers Fire Insurance Class Action Claim Form
- Claim Form Deadline: 2/12/2016
- Who’s Eligible: All persons who were insured on a Fire Insurance Exchange policy;
- You suffered a loss of or damage to contents and/or structure that was covered under a policy;
- You submitted an insurance claim to Fire Insurance Exchange for the loss or damage;
- You received one actual cash value property loss payment on the insurance claim on or after May 6, 2010, and Fire Insurance Exchange applied depreciation in determining the actual cash value of the lost or damaged property in connection with that insurance claim;
- Your insurance claim had all “Claims Units” closed as of March 31, 2015; and
- Your insurance claim includes at least one “Eligible Claims Unit.”
- Estimated Amount: Varies. Class Members will receive 12.5 percent of the Net Outstanding Depreciation on their insurance claim.
- Proof of Purchase: N/A
- Case Name & Number: Jose Cortez, et al. v. United Water New Jersey Inc., et al., Docket No. BER-L-11374 in the Superior Court of New Jersey, Bergen County.
How to File a Claim:
- If you are a class member, head to the Farmers Fire Insurance Class Action Claim Form.
- Fill out and print a Claim Form to mail to the Claims Administrator. For more information call toll-free 1-866-686-9802
- Alexander v. Fire Insurance Exchange, Case No. BC460992, in the Superior Court of the State of California for the County of Los Angeles
- February 12, 2016 – You must mail your completed paper Claim Form postmarked no later than February 12, 2016 .
Fire Insurance Exchange denies all allegations of wrongdoing but agreed to settle the class action lawsuit to avoid the cost and risk of trial. If you received one actual cash value property loss payment on the insurance claim on or after May 6, 2010, and Fire Insurance Exchange applied depreciation in determining the actual cash value of the lost or damaged property in connection with that insurance claim, then you may be eligible for compensation from the Farmer’s Fire Insurance Exchange Class Action Lawsuit. File a claim today to receive your portion of the million settlement. Be sure to submit before the 2/12/2016 deadline to be considered for compensation. Take a look at our full list of Class Action Lawsuit Settlements!
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