Farmers Insurance Review 2022 

Holy Grail For Your Insurance Needs? | ⭐️⭐️⭐️

TLTR: This insurance review by Agency Height helps you understand the policies and premiums offered by Farmers Insurance and enables you to make an informed decision before you decide to commit.

In this blog

About

The Farmers Insurance Group, also known as Farmers Insurance, was established in 1928 in Los Angeles, California. Having had its roots in the U.S. insurance industry for nearly a century, Farmers Insurance has garnered an enormous clientele. They have an array of insurance products, from commercial to personal lines to financial investment products. However, their main insurance offerings are at individual accounts for home, auto, and life insurance.

Farmers Insurance is known for its customizable insurance policies, attractive discounts, and exceptional customer service. However, with such superior features, Farmers Insurance tends to be on the pricier side. The average rates for their home and auto insurance policies are about 14% higher than the national average.

So, is this trustworthy household name the right match for your insurance needs? Let’s find out in this  review. 

Video: Farmers Insurance

Farmers Insurance – Pros and Cons

Pros

Cons

  • Services available in all 50 states
  • Coverage customization as per your needs
  • Unique discount opportunities available
  • Wide selection of add-ons to the policy
  • Higher premium in some states
  • Mixed customer reviews and ratings
Farmers Insurance Statistics
Image: Farmers Insurance Statistics

Things To Know

Farmers Insurance Products And Services

Farmers insurance offers an array of products and services. While they offer products for personal and commercial lines and financial investments, they mainly provide home, auto, and life insurance for individuals. The company also offers a wide range of additional insurance coverage options.

Farmers Vehicle insurance 

As per ValuePenguin, Farmers Insurance ranks seventh on the list of most comprehensive auto insurance providers in the country. While the company offers a selection of coverage options, discounts, and superior customer service, their relatively expensive rates may be a deal-breaker for some shoppers.
Besides traditional auto insurance coverage, Farmers also provides Farmers Rideshare, New Car Pledge, Extended Customized Equipment Coverage, and Towing and Roadside Assistance at an additional cost. 

Helpful Hacks To Reduce Your Auto Premium

Keep Your Current Car For A Few More Years It’s a no-brainer that the more your car costs, the higher the premium you have to pay. So, driving an older car model can help keep your premium on the lower side.
Drive Safely Having a clean driving record with no accidents or traffic violations helps reduce your premium.
Research Before Buying A Car Before you get the car, make sure you do your homework. Some cars are more expensive to insure than others. And driving an expensive car without insurance is like setting your savings  on fire.
Look Out For Discounts You qualify for discounts when you purchase more than one policy from Farmers. For instance, by buying both your car and home insurance policies from Farmers.
Check Out The Deductibles  The higher the deductibles, the more you save on your monthly insurance payment. But you should also understand that in the event of a loss, you’ll have to pay extra out of pocket.

Home Insurance Policy

Farmers Insurance is generous with its coverage offers and discount options. But when it comes to their home insurance rates, they offer higher-than-average rates. According to Value Penguin, the annual rate provided was higher than the average by $107.  

Farmers Insurance offers three different grades of their Smart Plan homeowners’  policies: Standard, Enhanced, and Premier. Policyholders can tailor the coverage and limits in each tier to match their specific needs.  

Standard The Standard package, designed for first-time homebuyers, strikes a balance between price and important features. This package also allows you to set higher limitations for a select product that is especially valued.
Enhanced The Enhanced plan fits greater insurance limits and contains various additional features, like paying the expenses of replacing your roof and belongings without deducting depreciation.
Premier Before you get the car, make sure you do your homework. Some cars are more expensive to insure than others. And driving an expensive car without insurance is like setting your savings  on fire.

Helpful Hacks To Reduce Your Home Premium

Ensure Your Home Is Safe And Secure Making sure your home is secure will help lessen the risk of fire and burglary. 
Do Not Smoke Inside Your Home Nonsmokers may be eligible for cheaper homeowners’ insurance premiums through discounts because smoking increases the risk of fire damage.
Buy Multi- Policy Lines From Farmers When you buy multiple policy lines from Farmers, you’ll get more than just convenience—you can also get multiline discounts on each policy.
Check Your Eligibility For Additional Savings Are you a teacher, a cop, a firefighter, a military person, a doctor, a nurse, a dentist, an engineer, or another type of professional? Because of your profession, you may  qualify for a discount. And regardless of your career, you may be eligible for other discounts.

Life Insurance Policy

Farmers Insurance offers standard insurance coverage options such as term, whole, and universal life insurance.

Additional Offerings:

Recreational Insurance coverage for ATVs, RVs, travel trailers, and boats.

Business Insurance for small and medium-sized businesses includes liability and property insurance, workers compensation insurance, condominium homeowner associations, service providers, retail stores, artisan contractors, service providers, religious organizations, bed and breakfasts, and educational and non-profit organizations, etc.

Financial services and products, such as variable annuities and mutual funds;, coverage for ATVs, RVs, travel trailers, and boats.  

 
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Image: Farmers Insurance

Farmers Policy Perks

You may be wondering what kind of perks Farmers Insurance policies offer. For starters, you save money, unlock discounts and get a handful of benefits.

Here’s a breakdown of all the auto and home perks you can get as a Farmers customer.

Auto Perks

Home Perks

  • New Car Replacement
  • Accident Forgiveness
  • Auto/Home Discount
  • Safe Driver Discount
  • Signal + CrashAssist
  • Auto Multi-Policy Discount
  • Guaranteed Repair Program
  • Loss of Use
  • Rental Reimbursement Coverage
  • Towing Roadside Service Coverage
  • Guaranteed Replacement
  • Cost Claim Forgiveness
  • Declining Deductibles
  • Claim Free Discount
  • Home Multi-Policy Discount 
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Farmers Insurance Reviews and Ratings

A Sampling Of Customer Reviews 

Reviews

Rating

Farmers has been quite helpful when I’ve needed to file a claim, and they’ve also been the most cost-effective supplier I’ve used. Others were less expensive at first, but they invariably increased their rates after the first year.  ⭐️⭐️⭐️⭐️⭐️ 
I think the payments are reasonable, however, I’d like to see the $1,000 deductibles reduced to bring the payments more in line. I can’t comment on their service response or customer support team because I haven’t had to file a claim in ten years.  ⭐️⭐️⭐️⭐️ 
Farmers Insurance is one of my favorite companies. Our home, car, and motorcycle are all covered by insurance. However, their bills generally arrive at the same time, making it difficult to pay all three. I wish they would disperse them and perhaps mix the motorcycle and automobile. Apart from that, I am pleased with the service we receive. I wouldn’t switch unless we could obtain it for a lower price. I searched around and they’re all about the same price as what we’re paying today. So, I believe we will stick with them for the time being.  ⭐️⭐️⭐️⭐️ 
I tried to take renters insurance online with Farmers Insurance at the recommendation of my apartment community. After entering all the information, I got an error online. Since I received an error, I thought the policy was not created. As I was in a hurry to take renters policy, I took with Geico and submitted it. After a few days I received an email from Farmers that I need to take some action to complete the process. Since I was traveling, I didn’t see that on time. After I came back home, I found that my credit card was charged and I didn’t get any email confirmation for the policy. 

⭐️

 

 

 

 

Farmers home insurance is fantastic! This is the most impressive insurance firm I’ve ever encountered! They replaced my damaged roof for $45k and approved/funded the claim in less than 24 hours! This is fantastic company!  ⭐️⭐️⭐️⭐️ 
Because I get multi-policy discounts with Farmers Insurance, I’ve stayed with them. I considered switching to AAA, but they don’t cover residents in fire-prone areas. Farmers told me that if I file claims, my rates will increase. It’s absurd. What is the point of insuring when rates are always rising?  ⭐️⭐️

 

Source: ConsumerAffairs

Third-Party Reviews

Having amassed millions of customers with their top-notch service, Farmers insurance has garnered a good reputation. However, on average, the company has mixed reviews with the customer ratings fluctuating between 1-4 out of 5 stars. As per data from the National Association of Insurance Commissioners (NAIC), Farmers Insurance receives significantly more complaints from its policyholders compared to other companies. 

Organization

Farmers Rating

Description

A.M. Best A (Excellent) A financially stable business that can guarantee and safeguard your insurance.
Standards and Poor AA- (Very Strong) Outstanding ability to meet financial obligations.
Moody’s Investors Services A2 Strong company with good credit risk.
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Conclusion

Our Rating – ⭐️⭐️⭐️

Farmers Insurance has overall provided exceptional service to its customers, despite its fair share of highs and lows. The financial ratings they’ve obtained highlight their robust financial health.   

Considering the products they offer, their services, and all the after-sales services they engage in, we score Farmers 3 out of 5 stars. If you have a large budget and want to customize your plans, Farmers Insurance may be a good fit. In the same vein, Farmers insurance is well-known for its outstanding level of customer care.  

Before you decide to shop and settle for one insurance company, make sure you’ve analyzed other insurance companies in the market. It is always a wise move to compare and analyze the offerings and coverage other companies provide. That’s how you can get the best value for your money! 

We hope that this review of Farmers Insurance was valuable for you. If you want to check our insurance reviews of other top insurance carriers in the U.S., please visit Agency Height.  

 

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Frequently Asked Questions

If my spouse or partner has their own insurance, do I still need to include them in this quote?

Yes. You need to include your partner in this quote even if they have their own insurance with Farmers or another company.  

 

How many drivers and vehicles can be included in my auto insurance policy?

A total of five drivers and five vehicles may be included in Farmer’s operating states. However, there are two exceptions to this: 

  • You can quote a total of four vehicles in the state of Kansas. 
  • You can quote a total of three vehicles in the state of Texas.  

 

Can I still get a quote even if my car isn’t listed?

Currently, for specialty cars, Farmers do not provide online quotes. You can try entering your VIN number or contact Farmers agent for support service. 

 

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