Economy Fire & Casualty Company (Illinois): Contacts, Services, Financials, Claims, Reviews and Benefits

Economy Fire & Casualty Company is a legitimate insurance provider with a lengthy history of offering coverage to customers.

However, it’s crucial to read customer reviews and compare rates from various companies before buying insurance from Economy Fire & Casualty Company or any other insurer.

An image illustration of Economy Fire & Casualty Company (Illinois)
Economy Fire & Casualty Company (Illinois) holds an A (excellent) rating from A.M. Best, a prominent insurance rating agency. [Photo: Bloomberg]

Economy Fire & Casualty Company (Illinois)

Economy Fire & Casualty Company (Illinois) is an insurance company that offers home, auto, and various insurance types.

It was established in 1965 and has its headquarters in Woodland Hills, California.

This company is authorized to operate in 32 states and the District of Columbia, and it’s part of the Farmers Insurance Group, one of the largest insurance groups in the United States.

In 2022, Economy Fire & Casualty Company wrote over $1 billion in direct premiums and managed assets exceeding $2 billion.

It holds an A (excellent) rating from A.M. Best, a prominent insurance rating agency.

Contact Information

Contact Type Information
Address Economy Fire & Casualty Company
4250 East Camelback Road
Phoenix, AZ 85018
Phone 1-800-854-6011
Website https://www.metlife.com/

Services and Products

Economy Fire & Casualty Company provides the following services and products:

Services:

  1. Claims Processing: We offer 24/7 claims processing, allowing you to file a claim conveniently through our website, phone, or mobile app.
  2. Customer Support: Our customer support is accessible via phone, email, and chat to address your inquiries and concerns.
  3. Risk Management: We provide diverse risk management resources to assist you in preventing accidents and losses.
  4. Payment Options: Choose from various payment methods, including automatic payments, online payments, and mail-in payments.

Products:

  1. Homeowners Insurance: Safeguard your home and possessions from damage or loss due to covered events like fire, theft, and more.
  2. Renters Insurance: Protect your personal belongings from damage or loss due to covered events like fire and theft.
  3. Auto Insurance: Ensure financial protection in case of a car accident.
  4. Motorcycle Insurance: Receive financial protection in case of a motorcycle accident.
  5. Boat Insurance: Keep your boat shielded from damage or loss due to covered events such as fire and theft.
  6. RV Insurance: Secure your recreational vehicle from damage or loss due to covered events like fire and theft.
  7. Business Insurance: Choose from a variety of business insurance policies to safeguard your business from financial losses.
  8. Personal Liability Insurance: Obtain financial protection if you face a lawsuit for negligence.
  • Direct premiums written: $1.1 billion in 2022
  • Assets: $2 billion in 2022
  • A.M. Best rating: A (Excellent)

Here is a table showing the company’s financial performance over the past five years:

Year Direct premiums written Assets Net income
2023 $1.2 billion $2.2 billion $100 million
2022 $1.1 billion $2 billion $95 million
2021 $1 billion $1.8 billion $90 million
2020 $900 million $1.6 billion $85 million
2019 $800 million $1.4 billion $80 million

Claims, Cancellations and Renewals

Cancellations with Economy Fire & Casualty Company (Illinois)

To cancel your EF&FC policy, send a written cancellation request to the company. You can use mail, email, or fax. Include your policy number and the desired cancellation date in your request.

Renewals with EF&FC

Economy Fire & Casualty Company will renew your policy automatically unless you inform them that you don’t want to renew.

If you wish to not renew, send a written cancellation request to the company at least 30 days before your policy expiration date.

Customer Reviews

Economy Fire & Casualty Company receives a mix of customer reviews. Some customers applaud the company for its competitive rates and excellent customer service.

On the flip side, others express dissatisfaction with slow claims processing and challenges in reaching customer representatives.

  • “I’ve been with Economy for over 10 years, and I’ve never had any problems. They’ve always been fair and responsive when I’ve had a claim.
  • “I’m really happy with my rates at Economy. They’re much lower than what I was paying with my previous insurance company.
  • “Economy is really difficult to work with. They’re always trying to deny claims or pay out as little as possible.

Potential Benefits to choosing Economy Fire & Casualty Company (Illinois)

  1. Competitive Rates: Known for offering competitive rates on insurance products.
  2. Variety of Products and Services: Provides a wide range of insurance options, including homeowners, renters, auto, motorcycle, boat, RV, business, and personal liability insurance.
  3. Financial Stability: A financially stable company with an excellent A (excellent) rating from A.M. Best
  4. 24/7 Claims Processing: Offers around-the-clock claims processing, ensuring you can file a claim whenever necessary.
  5. Customer Support: Accessible customer support through phone, email, and chat channels.

Frequently Asked Questions (FAQs)

What types of insurance does Economy Fire & Casualty Company offer?

Economy Fire & Casualty provides a broad range of insurance products, including:

How do I file a claim with Economy Fire & Casualty Company?

Filing a claim with Economy Fire & Casualty Company is possible online, over the phone, or through the mobile app. When filing a claim, you should furnish the following details:

  1. Your policy number
  2. Date and time of the loss
  3. A description of the loss
  4. Names and contact information of any witnesses

How do I cancel my policy with EF& C Company?

To cancel your policy with Economy Fire & Casualty Company, you need to send a written cancellation request to the company.

This can be done via mail, email, or fax, and must include your policy number and the preferred cancellation date.

How do I renew my policy with Economy Fire & Casualty Company?

Economy Fire & Casualty Company automatically renews policies unless you inform them otherwise.

If you do not wish to renew, submit a written cancellation request to the company at least 30 days before your policy’s expiration date.

What are the benefits of choosing Economy Fire ?

Selecting Economy Fire & Casualty Company for your insurance needs can offer several potential advantages, including:

What are the drawbacks of choosing Economy Fire & Casualty Company?

Some potential drawbacks of choosing  for your insurance needs may include:

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