June 16, 2024

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Auto, Homeowners, and Life Insurance

Auto, Homeowners, and Life Insurance

Farmers insurance pros and cons

Farmers auto insurance review

John C. Tyler and Thomas E. Leavy founded Farmers in 1928. It was exclusively an auto insurance carrier for farmers and ranchers, but later expanded to offer life and homeowners insurance to the general public. 

Farmers auto insurance operates in every state except Alaska, Delaware, Hawai’i, Maine, New Hampshire, Rhode Island, Vermont, the District of Columbia, and West Virginia. Farmers ranked #5 in J.D. Power’s auto claims satisfaction survey

Farmers auto insurance may be an expensive option for some customers. When we collected sample rates, Farmers auto insurance cost about $1,501 for a 30-year-old female with a clean driving record. This is about $280 more than Liberty Mutual and $480 more than Progressive. However, Farmers offers a variety of discounts from vehicle safety discounts to good driver discounts. Like most insurance companies, Farmers provides discounts for bundling your home and auto insurance. 

There are four types of insurance coverage: liability insurance (required by most states), comprehensive, collision, and full car coverage. If you lease or finance your car, your lender may require comprehensive and collision coverage.

The difference between the various coverage types is outlined in the table below:

Farmers homeowners insurance review

Farmers ranked #14 for J.D. Power’s homeowners insurance customer satisfaction survey. Farmers also ranked #7 for J.D. Power’s renters insurance customer satisfaction survey, and it’s also a top pick in Insider’s guide to the best renters insurance companies.

Farmers homeowner insurance operates in all states except Alaska, Delaware, Hawai’i, Maine, New Hampshire, Rhode Island, Vermont, the District of Columbia, South Carolina, and West Virginia. Farmers renters insurance only offers coverage in North Carolina. 

Farmers insurance offers homeowners, renters, condo, mobile home, and specialty home coverage. It gives discounts for home safety and home security as well as a discount for being a non-smoker. Farmers also offers additional savings for bundling insurance products. 

Homeowners insurance protects your dwelling, personal belongings, and offers personal liability coverage for injuries that happen on your property. Standard homeowners insurance looks like the table below, but coverage varies depending on your provider:

*Available as add-on coverage if not part of policy

**Flood insurance is available through the NFIP and approved insurers

***If you live in hurricane or tornado areas, additional windstorm rider may be required

Farmers life insurance review

Farmers didn’t make the list for J.D. Power’s life insurance customer satisfaction survey

Farmers offers term and permanent life insurance products. The only


term life insurance

product offered by Farmers is level term. If you opt to apply for level term, your premiums and death benefits remain the same throughout the duration of your policy. The permanent life insurance products offered are whole life and universal life. 

The two types of life insurance are permanent life and term life. Term life insurance only cover a specific period of time. When your policy is up, you can reapply for coverage. However, the premiums will most likely increase as you age.

Permanent life insurance never expires, has a death benefit for your beneficiaries, and a cash value that you can use during your lifetime. Some financial advisors recommend a combination of term and permanent life insurance.

Farmers insurance vs. the competition

Is Farmers trustworthy?

We checked the NAIC Complaint Index for complaints against Farmers Insurance. Farmers has significantly more complaints filed against it compared to other top insurers.

Farmer’s financial stability is strong, with an A.M. Best’s rating of A (Excellent).

Frequently asked questions

How do I get a quote from Farmers insurance? 

Get a quote from Farmers by using its online “get a quote” tool. The process will take anywhere from 5-10 minutes and requires basic information about you, your vehicles, and drivers under your insurance. 

Where is Farmers insurance coverage available?

Farmers insurance is offered in all 50 states except the District of Columbia.

Does Farmers insurance cover rental cars?

Farmer’s auto insurance covers most rental vehicles including passenger cars, pickup trucks, and SUVs. However, recreational vehicles (RV) require special RV coverage. 

How do I file a claim with Farmers insurance? 

You can report a claim online using the Farmers Mobile app. Alternatively, you can get in touch with your Farmer’s agent, or call the Farmers Claim team. 

How do I pay my bill at Farmers Insurance? 

You can pay your bill by phone, by mail, and online with or without a Farmers account. 

What happens if I miss a payment at Farmers Insurance?

There is a late fee payment of up to $15 and a returned payment charge of $25. 

How do I cancel my policy with Farmers insurance? 

To cancel your policy with Farmers insurance, you must contact your agent or call customer service. The cancellation process will require your name, policy number, and the date you want your policy to end.