Updated June 18, 2021
Reading time: 7 minutes
Every homeowner has unique needs when it comes to their insurance policy. Insurify can help you decide if this is the right insurance company for you.
When shopping for a new insurance policy, people often tend to gravitate toward company names that they recognize. Farmers is one such company, with agents serving policyholders in all 50 states.
Although it doesn’t boast much in the way of coverage options or discounts, Farmers tends to score high when it comes to customer satisfaction. Many like to take advantage of savings by bundling a Farmers homeowners policy with auto insurance.
A home insurance policy is an important purchase, so it’s wise to do some research before you buy. Visiting the website of each insurance company and requesting a quote can be time-consuming, but how else can you find the best pricing available?
Make sure to visit Insurify instead, where you’ll be able to compare home insurance quotes at once and find the home insurance products that best meet your needs.
It’s nearly impossible to find one insurance company that has it all, but customers note that Farmers absolutely shines when it comes to what matters the most. In business since 1928, Farmers offers policyholders three options for home insurance, each featuring varying levels of personal property protection. Above all else, many note that its customer service is exceptional and that rates are reasonable.
Not everyone sings the praises of this company, however, as there have been some concerns when it comes to insurance claims and billing processes. On a few occasions, potential customers have stated that Farmers initiated coverage during the quote process before the customer actually agreed to purchase a policy. Although some describe Farmers as only looking out for itself, most are quite happy to continue doing business with the company.
Obtaining a quote from Farmers for your insurance needs is simple, as you can answer a few questions online and receive pricing information in a matter of minutes. If you have detailed questions, you can contact customer service at 1 (888) 327-6335 or find a local insurance agent. As Farmers aims to make its coverage as easy to understand as possible, you’ll be able to generate a quote in no time at all.
Depending on the policy limits that you choose, you’ll likely find that prices from Farmers are quite competitive. Customers can expect to spend anywhere between $1,500 and $2,200 per year on a policy. Farmers is one of the few companies that strike a balance between affordability and great coverage, but keep in mind that your rates will depend on the age of your home, the value of your possessions, and a range of other factors.
You have three main options when shopping for a homeowner’s policy from Farmers, as the company aims to take the guesswork out of determining which features are most important. Each Smart Plan Home package is customizable with optional coverage, but the basics are as follows:
The Standard plan includes standard coverage that aims to keep your insurance premium low, but plenty of options to customize your plan to your needs.
The Enhanced option lets you enjoy greater peace of mind including replacement coverage that doesn’t deduct depreciation.
The Premier policy combines all of the best coverage options from Farmers into one, giving homeowners a robust mixture of features.
Standard coverage includes property insurance, aka dwelling coverage for your home and outbuildings. It also covers personal liability, such as making medical payments when someone injures yourself on your property. Next, you get coverage for your personal belongings. And finally, you get coverage for loss of use, known as Additional Living Expenses (ALE).
Each insurance package may vary slightly, and at this time, the Premier plan isn’t available in California. If you’re interested in learning more about each option and want to personalize your policy, contact your local Farmers agent.
Filing an insurance claim with Farmers is simple, as customers can contact their local agent, call the claims department at 1 (800) 435-7764, or start a claim online. After providing as much information as you can about the incident, you’ll be contacted by an agent who will review the process with you in detail.
In many cases, an inspector will visit your home for an evaluation. This individual may take photographs and ask you additional questions about the incident. Farmers will then provide you with an estimate and issue you a payment based upon the findings of the inspection and your level of coverage.
Most customers are quite satisfied with the claims process and note that Farmers is prompt from start to finish. While others in the insurance industry tend to receive poor feedback regarding claims, Farmers stands head and shoulders above them all.
Farmers may not offer the most discounts among all insurers in the nation, but there are plenty of ways to save money on your insurance premiums. :
Multi-policy discounts for bundling home with other insurance products.
ePolicy discount for enrolling in ePolicy and going paperless.
UL-Approved roofing material discounts for using asphalt or fiberglass shingles.
New home discount for homes younger than14 year-old.
Protective devices discount for installing a security system, fire alarm, and internal sprinklers.
Home safety discounts for automatic gas or water shutoffs and building materials fortified for natural disaster.
Green certification discounts for using Energy Star appliances or owning a LEED certified building.
Smart home discount for installing smart home systems (only available in some states).
Preferred payment and autopay discounts.
Good payer discount for paying your bill on time.
Claims free discount for being claim free for three consecutive years or longer.
Declining deductible of $50 toward your home deductible each year you hold your insurance policy.
In addition to this list, there are several state-specifc discounts available. Be sure to speak with your Famers insurance agent to learn more about the discounts available to you.
In addition to discounts, you can lower your insurance rates in other ways. First, you can lower your coverage limits to get a lower premium. Just don’t lower it so far you have a gap in coverage between what it costs to repair or replace your home and the coverage limits you set.
Second, you can increase your deductible. That’s the amount you pay out-of-pocket before your insurance kicks in. Just don’t set it so high that you can’t cover the deductible in the event of property damage.
Saving with a multi-line discount is a great way to save. Farms auto policies come with accident claim forgiveness, plus you can additional coverage for new car replacement. You also get access to several discounts, including:
Safe driver discount
Telematics discount for using Signal
Pay in full discount
Homeowner discount (regardless of insurer)
You can also bundle your home policy with policies for life insurance, umbrella insurance, small business insurance, and specialty insurance.
Making a payment on your home insurance policy is simple, as Farmers allows customers to call its payment center at 1 (888) 327-6335 24 hours a day, seven days a week. You can also create an account online or make a payment through the mobile app. Customers who want to mail a payment can use the following address:
Farmers Insurance PO Box 0991 Carol Stream, IL 60132-0991
Unlike other insurance providers, Farmers has a wide range of policies available for unique situations. You don’t have to own a home to enjoy replacement cost coverage, liability coverage, and more, as options are available for:
Condos and townhomes
Mobile and manufactured homes
Seasonal properties, investment homes, or older buildings
Customers can also enroll in Identity Shield, protecting their credit and identity at a very low rate. If you’re interested in additional options like renter’s insurance or other policies, contact your local agent.
In addition to auto and home insurance, you can purchase additional insurance policies from Farmers, including:
Landlord and rental property insurance
Identity theft insurance (Identity Shield)
Customers are able to customize their policy options, allowing for a range of coverage types and policy limits. If you’re looking for an insurance policy that meets your specific needs, Farmers is a great choice. Keep in mind that each homeowner will have different needs, so it’s best to explore all of your policy options before making a purchase.
Not only is it straightforward to file an insurance claim with Farmers, but you can enjoy savings options along the way. Claim forgiveness is available for some customers, ensuring that your rate won’t go up just for filing a claim. Its Declining Deductibles option also helps you to save money over time.
Home insurance options can vary considerably, and Farmers may or may not be the most affordable policy in your area. For pricing information and to compare quotes from Farmers, Allstate, State Farm, and more, visit Insurify. There, you’ll be able to view policy options at a glance and determine if Farmers is the best option for your budget.
Shopping for home insurance doesn’t have to be difficult, but it’s important to know what you’re looking for. Make sure to consider how much of an insurance premium you can afford as well as the coverage options that are most important to you.
Initially created to offer auto insurance, Farmers has grown since its beginnings in 1928 to offer a range of insurance products. It partners with over 48,000 independent agents across all 50 states and has one of the better reputations among its peers in the insurance industry.
Those interested in home insurance, life insurance, or business products will find a range of coverage types to choose from. Online management of your account and access to both local agents and the Farmers customer service department makes working with the company easy.
Farmers Insurance has been serving it’s customers since 1928. In all, Farmers has continued to be one of the most trusted companies when it comes to home insurance and has proven to stay up to date with the needs of modern homeowners. From mobile app options to a huge network of agents, it’s no wonder the company is highly recommended by long-time policyholders.
Better Business Bureau: A- Rating
J.D. Power Customer Satisfaction Rating: 893/1000
A.M. Best: A Rating (Excellent)
Moody’s Financial Strength Rating: A2
Standard & Poor’s Financial Rating: A+
NAIC Complaint Index: 0.33
The National Association of Insurance Commissioners (NAIC) methodology for calculating the complaint index is to divide the market share of complaints by the market share of premiums written. The lower the number, the better.
A licensed insurance professional, Courtney Levin has been a personal finance writer since 2016. She graduated from Sonoma State University with a degree in communications and has been creating content for Insurify for more than two years. She specializes in auto insurance and personal finance and strives to help customers understand the ins and outs of their insurance policies.Learn More