Could you claim up to $25,000 from this $1.2 million Farmers Insurance settlement? Here's who can receive settlement money

Thousands of drivers in New Mexico could qualify for money from a multimillion-dollar insurance settlement.

The lawsuit involves underinsured motorist coverage sold by Metropolitan Direct Property and Casualty Insurance Co., a Farmers Insurance subsidiary.

Drivers in New Mexico could soon receive money from a $1.2 million class action settlement involving Metropolitan Direct Property and Casualty Insurance Co., a subsidiary of Farmers Insurance Group.

The lawsuit accused the company of violating New Mexico law by allegedly misrepresenting or failing to properly disclose limits tied to underinsured motorist coverage policies. Farmers agreed to settle the case but did not admit wrongdoing, as per a report by The US Sun.

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Who can receive settlement money?

The settlement applies to people who either had an underinsured motorist claim reduced by payments made by an at-fault driver or purchased uninsured or underinsured motorist coverage in New Mexico between October 1, 2010, and January 31, 2022.

Eligible customers could receive payments of up to $25,000 as part of the agreement.

To submit a claim, customers need a Metropolitan policy number, claim number and the date of loss connected to the accident or policy, as per a report by The US Sun.

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How much could drivers get?

The settlement also includes partial refunds for uninsured and underinsured motorist insurance premiums paid during the covered period.

The final amount each customer receives will depend on how much they paid in premiums during the settlement timeframe and how many people submit valid claims.

Settlement checks are expected to be mailed automatically to qualifying customers once claims are processed, as per a report by The US Sun.

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What is the filing deadline?

Drivers hoping to receive part of the settlement must act quickly. The final day to submit a valid claim form is May 26.

The case has drawn attention because of the potentially large payouts available to qualifying drivers and the wide timeframe covered under the agreement.

FAQs:

Who qualifies for the settlement?

Drivers in New Mexico who bought certain uninsured or underinsured motorist coverage between 2010 and 2022 may qualify.

What do customers need to file a claim?

A Metropolitan policy number, claim number and date of loss are required.