Class Eligibility

You are a Class Member of the Fire Insurance Exchange settlement if:

  • You are or 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.”

Under the terms of the class action settlement, “Claims Unit” means either contents or structure claims unit as reflected in Fire Insurance Exchange’s claims file for an insurance claim.

“Eligible Claims Unit” means any Claims Unit except and excluding: (a) a Claims Unit for which payments made by Fire Insurance Exchange were equal to or exceeded all applicable limits or sub-limits in the applicable policy; (b) a Claims Unit with no “Net Outstanding Depreciation,” (c) a structure Claims Unit with a total loss paid on a fair market value basis; or (d) a contents Claims Unit in which an insured making an Insurance Claim submitted information on the MyPropertyLoss.com Website, on or after Nov. 1, 2012, about lost or damaged contents items.

“Net Outstanding Depreciation” means the amount of total replacement cost estimated by Fire Insurance Exchange minus the total of (a) applied deductible, (b) paid actual cash value and (c) paid recoverable depreciation.

Estimated Amount

12.5 percent of the Net Outstanding Depreciation on their insurance claim.

Proof of Purchase

Yes

Case Name

Alexander v. Fire Insurance Exchange
Case No. BC460992
Superior Court of the State of California for the County of Los Angeles

Case Summary

This settlement challenges the method that Fire Insurance Exchange uses to determine the actual cash value of lost or damaged property. Fire Insurance Exchange was required to take depreciation on lost or damaged property based exclusively on the physical condition of the property before it was lost or damaged, instead of following this formula Fire Insurance Exchange took excess depreciation under depreciation schedules based on the age of the lost or damaged property.

Settlement Pool

N/A

Deadline

2/12/2016

Contact


FIRE Settlement Claims
P.O. Box 2280
Faribault, MN 55021-2415
1-866-686-9802

5 responses to “Farmers Fire Insurance Class Action Settlement”

  1. Rick Randolph says:

    I have had a claim with this company?

    ADMIN – Hi Rick,

    If you have had a claim aligned with the conditions set forth to be part of the class by all means go ahead and file.

  2. Marjorie Ehrman says:

    I have Farmers as my home insurance. I had a kitchen Fire in 2013. I filed a claim. I am not understanding this very well, Maybe someone can Explain to me better. There was something discussed about depreciation, but I am not sure what you all are talking about. Can someone explain to me?

    Marjorie EHrman

    ADMIN – Hi Marjorie,

    Depreciation is when an appraiser does not pay you the replacement value for an equal item; instead he or she takes out the amount that represents use, wear and tear and other factors that diminish the value of said object.

  3. Marjorie Ehrman says:

    To be more exact This info is to advanced for me so I am not sure If I qualify or not, since it was just a small fire in the kitchen. Let me know cause I dont know.

    ADMIN – Hi Marjorie,

    You have a claim if

    You are a Class Member of the Fire Insurance Exchange settlement if:

    • You are or 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.”
  4. Abraham says:

    Hi..
    I’ve been living abroad the last 2 years. I came back for vacation and found 3 letters about this claim. It is July 2017 now. Am I too late to file?

    ADMIN – Hi Abraham.

    Yes, too late.

  5. Robert Eloy Gonzales says:

    Hi,

    I have a lot of things going on how do you know if you received a reward, status?
    Claim# 8000922250-1
    Policy# 928049289
    Settlement Claim ID 0000631228

    ADMIN – Hi Robert,

    This settlement was paid a long time ago. If you did not receive a check you may not have been a qualified class member.

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