Farmers Insurance makes it easy to buy home insurance. It has 3 packages that you can start with (Standard, Enhanced and Premier), and you can customize each package to meet your needs. It insures single-family homes, condos, mobile homes, manufactured homes, specialty homes like investment properties and even vacant homes. It sells its policies through agents, and your agent can help you determine what coverage is the best fit for you and your needs.
Farmers also offers other lines of insurance like auto and life so that you can bundle coverage for additional savings. According to J.D. Power, it has above-average ratings for its claims service but below-average ratings for its overall customer service. In other words, you may run into challenges with day-to-day issues, like updating your billing information, but when it comes to claims, Farmers does an excellent job. If you do have a customer service issue, you can always talk to your agent.
- Home owners who prefer personal service
- Home owners with unique needs, like a vacant home, manufactured home or investment properties
- Prepackaged options that make buying easy
- Other lines of insurance available
- Above-average claims service and accepts prior claims
- Accepts rural properties
- Below-average customer service ratings
- Must buy coverage through an agent
Farmers Ratings at a Glance
In our Farmers Home Insurance Review, we'll go over their coverage options, pricing, user experience and benefits as well as the claims process and more. You will also learn Benzinga's overall rating and get a quote on coverage from Farmers below.
Moody’s Rating: A2
AM Best Rating: A
Farmers Insurance offers a range of coverage options so that you can tailor your coverage to your needs. This is among the most important factors when it comes to the cost of homeowners insurance. Farmers takes a unique approach to coverage — you start with a package and then customize your coverage from there. Its packages are:
- Standard: This is for homeowners who are just starting out. It offers basic coverage and you can add additional coverage if there are items you want to insure with more coverage, like jewelry or expensive sports equipment.
- Enhanced: This is for owners with higher-value homes. You can choose higher policy limits and it also has extra coverage, like replacing your roof and the contents of your home without factoring in depreciation.
- Premier: For those who want the highest level of coverage, this is for you. You can choose high policy limits and opt for replacement cost coverage for your home. That means that if you meet certain requirements, you’re reimbursed for the cost of replacing items and not their current value. For example, if you have had a high-end TV for a couple of years, its value will go down. If it’s damaged and you’re reimbursed for its value, you won’t receive as much as you would be if you were reimbursed for the cost to replace that TV with a new one.
Let’s take a closer look at what’s covered by home insurance.
- Coverage for the structure of your home: This helps to cover the cost of your roof, walls and flooring if your home is damaged or destroyed. It also covers attached structures like garages or patios. Detached structures are typically covered as well, but it’s usually for a lower amount. It also pays for losses due to fire, hail, lightning, windstorms and other disasters. Home insurance typically doesn’t cover damages from earthquakes or flooding, so you should consider separate policies to cover those risks.
- Coverage for your personal belongings: Homeowners insurance also helps with the costs to replace your personal belongings. This coverage also extends off-premises, so if you have something stolen from a storage unit, it may be covered by your home insurance policy.
- Liability protection: This coverage helps protect you and your assets if you’re sued by someone who is injured on your property. It also protects you if you’re sued for damaging someone else’s property. It helps cover medical bills and the costs for a legal defense, including settlements and awards, up to your policy limits.
- Additional living expenses: If you’re unable to live in your home while it’s being repaired or rebuilt, this coverage helps with extra costs like hotel bills and restaurant meals.
Farmers also offers additional types of coverage. You could add Eco-Rebuild coverage, for example, which gives you up to $25,000 toward green materials to repair or rebuild your home. Farmers also offers identity theft protection.
Like most insurers, Farmers doesn’t cover wear and tear. If you’re concerned about expensive appliances breaking down, consider home appliance insurance.
Farmers offers flexible pricing through its customizable insurance packages. Another way to find cheap home insurance is by taking advantage of discounts.
Farmers has a wide variety of home insurance discounts, including:
- Multiline discount: Also known as a bundling discount, this is a discount for having multiple types of coverage with Farmers like home and auto insurance.
- Affinity discount: Farmers offers a discount if you are a member, employee or retiree of certain occupational or professional groups.
- ePolicy discount: You can also get a discount for opting for paperless statements and policy documents.
- UL-approved roofing materials: If you update your roof to asphalt or fiberglass shingles approved by UL (or buy a home that already has these shingles), you are eligible for a discount.
- Newer home discount: Farmers also offers a discount if your home is less than 14 years old.
- Protective devices discount: Protective devices like fire alarms, internal sprinklers and security systems keep your home secure. You also get a discount on your home insurance.
- Home safety discount: If you live in an area prone to disasters, you may want to fortify your windows, walls, roof or foundation and set up automatic shutoffs for your water and gas. If you do, Farmers offers a discount.
- Claims-free discount: If you’re claims-free for 3 consecutive years, you may get a discount from Farmers.
- Connected home discount: If you have a smart home system, you could be eligible for a discount. You can’t have both this and the home safety and/or protective devices discount, though, and it’s not available in all states.
- Rent-to-own discount: If you have renters insurance with Farmers, you get a discount if you buy a home and convert your policy to home insurance.
- Payment discounts: You also may be eligible for a discount if you pay in full or with a 2-payment plan or if you set up an automatic monthly transfer. You may also get a discount for paying your bills on time.
Your agent is among your best resources when it’s time to file a claim. They can typically assist you with filing and tracking your claim. You can also file a claim using your Farmers online account or with the Farmers mobile app. While Farmers has above-average ratings for claims, it doesn’t offer many details about the process on its website.
The Farmers mobile app is available from the Apple App and Google Play stores. You can manage your insurance bills, view documents, report a claim and contact your agent through the app. You can also receive push notifications for important account information.
Farmers is one of the best homeowners insurance companies due to its outstanding claims service. While its website could be more informative, you can talk to your agent if you have any questions or concerns. If you prefer working with an agent, you already have another Farmers policy or if you have an unusual home situation, Farmers could be an especially good fit.
Does Farmers Insurance have a good reputation?
Farmers Insurance does have a good reputation. The Better Business Bureau gives it an A- rating, and AM Best gives it an A for its financial health.
Is Farmers good at paying claims?
Farmers Insurance is considered one of the top three insurance companies when it comes to paying car insurance claims and claims resolution.
Will Farmers Insurance raise rates after a claim?
You won’t have to worry about Farmers Insurance raising your rates after a claim if you’ve been claim-free with the company for at least five years.