1 Minute Review
Farmers Insurance, one of the oldest insurance companies in the country, remains a leading nationwide natural disaster insurer after nearly 100 years in business. The company caters to a wide range of homeowners and provides 3 easy-to-understand coverage plans for customers of varying experience levels and additional options for individuals in disaster-prone areas. Farmers also provides unique discounts — but you may pay higher premiums compared to its competitors.
Our Farmers Home Insurance review covers everything you need to feel confident when you purchase a new Farmers home insurance policy.
- New families and inexperienced homeowners
- Customers who want to bundle multiple policies
- Homeowners who live in natural disaster-prone areas
- Offers a wide range of discounts based on safety, security, policy bundles, claim avoidance and loyalty
- Robust mobile app
- Large agent network, so help is more accessible
- Receives average customer service ratings
- Higher premiums compared to competitors
Who’s Farmers Home Insurance for?
Farmers Insurance offers plenty of options for any homeowner — even victims of a natural disaster. You’ll benefit the most from a Farmers homeowners insurance policy if you:
- Want to take advantage of discounts by bundling policies
- Need robust disaster recovery tools
- Prefer to speak to an agent in person
- Who’s Farmers Home Insurance for?
- Home Insurance Products
- Standard Farmers Home Insurance Coverages
- Available Discounts and Tips on Getting the Best Rates
- Common Farmers Home Insurance Coverage Selections
- Other Related Insurance Types Offered by Farmers
- Customer Service
- Claims Support
- Pricing and Value
- Customer Support
- Should You Go with Farmers Insurance?
Home Insurance Products
Farmers Insurance offers 3 tiers of homeowners insurance products, each tailored to suit the needs of a different type of homeowner. The tiers are based on your budget, experience level and property needs. They fall under 3 categories:
- Standard: You might want to opt for the standard package if you’re new to owning a home. Farmers balances affordability with basic features.
- Enhanced: The enhanced package includes extra perks, such as funds to repair a roof or replace a damaged item without deducting depreciation.
- Premier: This tier has the highest limits and coverage on personal property. It includes guaranteed replacement coverage, which means Farmers will pay 100% of rebuilding costs after a covered loss, regardless of the policy’s limits.
Standard Farmers Home Insurance Coverages
You’ll find standard coverage options within every home insurance policy across the industry. Homeowners can customize standard options by setting limits and deductibles based on your home and financial situations.
- Dwelling coverage is the central part of home insurance and it covers the damages, repairs and the cost to rebuild your home.
- Separate structures covers a garage, outbuilding or shed on your property.
- Personal property covers valuable items such as jewelry or an expensive TV, but you should consider buying extra protection for highly valuable items.
- Loss of use covers the costs of living elsewhere if your home becomes uninhabitable.
- Liability protects you from liability and lawsuits.
- Medical payments to others provides coverage if someone is injured and incurs related medical bills on your property.
Available Discounts and Tips on Getting the Best Rates
Every insurance company offers discounts but not every insurance company offers the same selection. Consider the discounts you can get as you shop for the best homeowners insurance for your situation.
- Safety and security: These discounts are available if you have an alarm system and fire alarm system in your home.
- Non-smoker discount: Farmers gives you this discount if no one in your family has smoked in the past 2 years.
- Multi-policy discount: This discount incentivizes customers to have multiple policies, such as auto and homeowners.
- Claims-free: You’ll get a discount if you’ve been claims-free for 3 or more consecutive years, even if you were with another carrier during some of that time.
- Claims forgiveness: Have you gone 5 continuous years as a Farmers customer without a claim? Your premium won’t increase if you do need to file a claim.
- Deductible rebate: Farmers will put $50 toward your deductible for every year you have a policy.
Common Farmers Home Insurance Coverage Selections
You can elect to expand your homeowners insurance policy with riders in addition to standard coverage. Farmers offers these other coverage selections:
- Identity Shield: Identity Shield helps you if your identity is stolen. Farmers will also help resolve the crime and replace certain documents such as your Social Security card or marriage license.
- Eco-Rebuild: You can receive up to $25,000 to rebuild and replace appliances using eco-friendly materials and green alternatives if your home is lost in a fire or covered event and you’ve selected this optional coverage.
- Contents replacement cost: Many insurance companies will only give you the current value of a damaged or destroyed covered item. Farmers reimburses the cost of replacing that item with a brand-new item.
- Earthquake: You’ll want to consider purchasing additional earthquake insurance If you live in a high-risk earthquake area. Some states require it, or your mortgage lender could insist you buy it.
- Flood: Covers homes in high- to low-to-moderate risk areas from flooding and flood damage.
- Trees and shrubs: Farmers will help replace trees and shrubs uprooted in hurricanes and other natural disasters. It’s one of the few insurance companies which offer this coverage.
Other Related Insurance Types Offered by Farmers
Homeowners insurance strictly covers single-family residences, but there are other forms of housing for which you might need coverage.
- Condo: Your homeowners association coverage will cover exterior damage, but if there’s interior damage, you’ll need condo insurance. It will also pay temporary relocation expenses if your condo becomes inhabitable as well as liability insurance if you’re sued by a guest and more.
- Mobile and manufactured: You’ll be covered for wind damage up to policy limits, medical bills if you’re at fault when someone is injured and food spoilage during a power outage.
- Specialty home: Specialty home covers properties that don’t qualify for regular homeowners insurance, such as vacation homes, rental properties and vacant houses.
Customer service is an important consideration if you want to be completely cared for — Farmers ranks high in customer service coverage.
- Agents: Farmers Insurance has an extensive network of agents throughout the U.S. who can offer one-on-one personalized service. Farmers ranks in the middle for customer satisfaction in a J.D. Powers and Associates survey but look up reviews of your local agent before you write off the company completely. Your local agent could be better than the average.
- Website: Farmers provides online quote tools, claims management and agent searches through its website. The website is easy to navigate and all major services are listed across the top of your screen. You’ll also find many articles and tips on Farmers’ website that can help you.
- Mobile app: You can receive and pay e-bills through the app, find your agent’s contact information and file a claim. You can also view your ID cards and coverage details. Farmers’ iOS app is rated 4.8 stars out of 5, and the Android app has garnered 4.7 out of 5 stars.
It’s easy to file a claim with Farmers Insurance. Farmers ranks in the top 10 U.S. home insurance providers for customer claims satisfaction. You can call Farmers, file a claim online or through the app.
Farmers’ mobile claims center follows natural disasters around the country to help policyholders file claims and get help. Mobile claims centers offer on-site personnel and extra resources dedicated to filing and processing claims. This attention to customer needs can give you peace of mind when you need it most.
Pricing and Value
Price is always a factor when you compare insurance companies. So, how much is homeowners insurance? It depends. Several factors will influence your premium, such as the replacement value of your home, the crime rate in your neighborhood and your deductible size.
The national average for homeowners insurance premiums is $1,192 per year. Complete an online application to find out what Farmers would charge to insure your home. Online customer reviews do indicate that Farmers isn’t the cheapest option available.
You’ll want Farmers to be easily accessible if something happens. You can reach Farmers Insurance 3 ways:
- Phone: (800) 435-7764
- Website: https://www.farmers.com
- Mobile app (available for iOS or Android)
Should You Go with Farmers Insurance?
Compare home insurance options when you’re in the market for a new home insurance provider. Talk to your neighbors about their opinions of local companies and agents. Keep in mind that what works for them might not work for you — but you’ll definitely want to hear about negative experiences.
Ultimately, you’ll be able to partner with a solid, experienced company if you purchase a homeowners insurance policy from Farmers.