Farmers Insurance Review

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Farmers Insurance

Overall Rating

9

Bottom Line

Farmers Insurance is a solid insurance company that can most likely fulfill your insurance needs. Their large network of local agents are ready to provide helpful support and build a relationship with you over time.

Pros

  • Trusted Company
  • Local Agents Available
  • High Home Insurance Customer Satisfaction

Cons

  • Dated Website
  • Poor Car Insurance Customer Satisfaction

Insurance Options

9.0

User Friendly

8.0

Local Agents

10.0

Customer Satisfaction

9.0


Farmers Insurance is one of the largest insurance agencies in the U.S.—and the world for that matter—that offers auto insurance, homeowners insurance, renters insurance, life insurance, boat insurance, motorcycle insurance, business insurance, and rental property insurance.

The company also offers investment products through its Farmers Financial Solutions division.

In this post, I’m going to provide an in-depth review of Farmers Insurance, with a specific focus on their most widely used products—auto insurance and homeowners insurance.

What is Farmers Insurance?

Farmers Insurance, which is officially called the Farmers Insurance Group, has been open for business since 1928. In the early years, the company provided auto insurance coverage to ranchers and farmers

These first customers wanted lower insurance premiums because they lived in rural areas and drove in less congested environments.

The company took off quickly and expanded to provide truck insurance, home insurance, and life insurance. In 1998, Farmers was acquired by Zurich Financial Services. Fast-forward to today, and Farmers currently serves over 19 million customers through its network of 48,000 agents and 21,000 employees.

Their company portfolio reveals that they offer numerous types of insurance, not just car insurance.

Toggle, for example, is Farmers’ latest innovation that provides digital renters insurance services.

Farmers Insurance Products

Farmers Auto Insurance

If you drive a car, you are required by law to have car insurance if you want to get behind the wheel.

Main Features of Farmers Car Insurance:

  • Basic liability coverage pays for the cost to repair any damage you cause to other people’s cars or property. It also covers you for medical expenses that result from an accident you cause.
  • Collision insurance covers damages to your car if you are involved in an accident, regardless of who was at fault.
  • Comprehensive coverage pays to fix your car if it is damaged by a non-accident-related incident, like a fire or a tree falling on it.
  • Uninsured/underinsured motorist coverage pays for your car repairs if another driver causes an accident and doesn’t have sufficient insurance.
  • Medical payments coverage assists with the costs of medical bills that arise from an accident, regardless of who was at fault.
  • Personal injury protection (PIP) covers the costs of rehabilitation and lost income that may result from an accident.

Farmers Auto Insurance Offers the Following Add-Ons:

  • Roadside Assistance provides help 24/7 in the event that your car breaks down, gets stuck, runs out of gas, needs a tire change, or needs a battery recharge. You can also get help from a locksmith if you lose your keys or lock them in your car.
  • Rental Car Reimbursement pays for the cost of your rental car if you need to get one while your primary vehicle is being repaired.
  • Rideshare Coverage offers extended insurance protection for Uber and Lyft drivers.
  • Guaranteed Value ensures that you will be paid an agreed-upon price for your car in the event that it’s declared a total loss.
  • Loss of Use provides payments for your alternate transportation needs if your car is being repaired.
  • Customized Equipment pays for the repair or replacement of custom parts for your car, like performance rims or high-end stereo systems.
  • Accident Forgiveness ensures that you won’t see a rate increase if you get into only one accident within a three-year time frame.
  • New Car Replacement Coverage gets you a new car of the same make and model if the one you are driving is totaled, is less than two years old, and has under 24,000 miles on its odometer.
  • Spare Parts Coverage will pay for the replacement of any spare parts that you might be holding onto that get damaged (up to $750 worth of parts).
  • Signal is Farmers’ new usage-based insurance program and offers a 5% discount just for signing up. To join in on the fun, you’ll have to download the Signal app, which monitors your driving behavior and tracks your location. If the app determines you’re a safe driver, you could be looking at a 15% discount each time your policy renews.

Farmers Home Insurance

Most mortgage lenders will only give mortgages to people who have homeowners insurance.

Prices can vary widely among homeowners insurance providers, so I always recommend shopping around—even if you’re happy with your current provider.

As with most homeowner’s insurance policies, Farmers will cover your home for damages that result from fire, burglary, vandalism, and most weather-related conditions. Farmers also offers medical payments coverage if someone gets injured while in your home or on your property.

Now that we’ve covered the basics, here are some of the unique features that you can get with a Farmers homeowners insurance policy.

Farmers Smart Plan Home

Farmers offers customizable homeowners insurance packages called the Farmers Smart Plan Home, which has three tiers with different coverage options, depending on your budget, home value, and liability preference.

Farmers Smart Plan Home Plans:

  • Standard: The Standard Smart Home plan is ideal for first-time homeowners, offering affordable coverage on the things that matter most.
  • Enhanced: The Enhanced Smart Home plan is designed for established homeowners that might want higher policy limits.
  • Premier: The Premier Smart Home Plan offers maximum coverage and includes features like Guaranteed Replacement Coverage and Guaranteed Replacement Cost.

All Farmers Smart Home Plans come with the following benefits:

  • Declining Deductibles: Each year that your policy remains active with Farmers, you’ll earn a $50 credit toward your home insurance deductible.
  • Claims Free Discount: If you don’t need to file a claim for three years in a row, you’ll qualify for a discount on your policy.
  • Claim Forgiveness: Policyholders who go five consecutive years without making a claim won’t see their rates increase if they have to make a claim thereafter.

Farmers Insurance Quotes

Getting quotes with Farmers Insurance has never been easier; we have laid out the simplicity of it for you here:

Farmers Car Insurance Quotes

To get an auto insurance quote, enter your zip code. Then you’ll be ask to enter your first name, last name, date of birth, gender, and home address.

On the next step, enter the year, make, and model of your car. You’ll also have to indicate if you use your vehicle for work or for pleasure.

Next, Farmers will ask about your marital status, occupation, and how old you were when you first got your license. After that’s done, you’ll be asked about your current insurance policy and if you’ll need to file a SR-22.

After that, Farmers asks you to confirm your email address, phone number, and Social Security number. Next, you need to let Farmers know whether you’ve had any accidents or moving violations in the last three years.

Almost there! Farmers then asks if you want to add any other drivers to the policy. After saying that I did not, my quote appeared.

The entire process took me about five minutes. It was pretty easy to sign up, but there are definitely more user-friendly online insurance websites out there, like Esurance.

Farmers Home Insurance Quotes

To get homeowners insurance quotes, enter your zip code to get started. Next, Farmers will ask you to enter your first name, last name, date of birth, gender, occupation, marital status, home address, and property type.

After that’s done, you’ll enter details about your property, like how many stories it has, what the square footage is, what type of roof it has, and how many bathrooms it has.

It appears that in some situations, you’ll have to contact an agent directly in order to proceed with an online home insurance claim. Due to the home value that I was trying to get quoted for, I wasn’t able to proceed any further. Bummer!

Farmers Insurance Discounts

I’m not seeing any special promotions for Farmers Insurance at this time.

As with most insurers, it seems that the best way to get a discount is by bundling your policies together.

Farmers does offer a bunch of different discounts, which vary by state.

Customer Support

Customer support is available by calling 1-888-327-6335 from Monday through Friday, 7 a.m. to 11 p.m. Central Time.

You can also send them a message online. If you prefer to work with a local agent, it’s easy to find one near you.

Farmers Insurance Pros and Cons

Pros

  • Trusted insurance company that’s been in business for over 90 years
  • Easy to find a local agent who can guide you through the sign-up process
  • Decent customer satisfaction rating by JD Power for home insurance

Cons

  • Website technology feels a little outdated
  • Not as many homeowners and car insurance options as other large insurers
  • Poor customer satisfaction rating by JD Power for auto insurance

Alternatives to Farmers Insurance

Some of the larger insurance companies that offer similar services to Farmers include:

FAQs

What’s Better: State Farm or Farmers Insurance?

This is a matter of personal opinion and depends on your insurance situation. State Farm is ranked higher than Farmers by JD Power’s customer satisfaction survey—for both home and auto insurance—so that might be something you want to consider.

Does Farmers Have Accident Forgiveness?

Yes. Farmers offers accident forgiveness. If you don’t make a claim in three consecutive years, and then get into an accident, your policy won’t increase (assuming you stay accident-free after that).

Is Farmers Insurance the Same as Farm Bureau?

No. Farmers Insurance is a different company than Farm Bureau.

Which is Better GEICO or Farmers?

This is also a matter of personal preference and depends on your experience with both companies. GEICO is ranked higher by JD Power for auto insurance customer satisfaction; however, they don’t offer home insurance.

Is Farmers Insurance Good for You?

Farmers Insurance is a solid insurance company that can most likely fulfill your insurance needs.

They don’t have the best customer satisfaction ratings, nor are they on the forefront of technology. But that doesn’t mean you’ll get bad service. In fact, I bet that their large network of local agents are ready to provide helpful support and build a relationship with you over time.

I hear a lot of questions like “which insurance company is better, x or y?”

If you’re asking that question, I recommend getting quotes from both companies—or maybe even from three or four different vendors. You can then pick the policy that feels right and meets your budget.

Whether you sign up online or work with a local agent, it’s all about finding a policy that makes sense for your situation. Good luck in your insurance-buying journey!

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