Farmers Home Insurance Review 2020

Last modified: October 17, 2020
  • Claims 9.5
  • Buying 9
  • Transparency 8
  • Coverage Variety 8
  • Value For Money 9
  • OVERALL RATING 8.7
  • Financial Strength A
  • BBB Rating A+
  • Coverages 3/5
  • Flexibility Policy customization available
  • Discounts 4/5
  • Support 24/7 claims services, Email, Phone, Send a message
  • User Ratings Trustpilot 2
  • Availability All 50 states
  • Pricing Affordable

About the Company

Farmers Insurance Group is one of the most well-established U.S. homeowners insurance providers offering services for almost a century. It offers small business insurance, home insurance, auto insurance, and financial services products.

The company offers a wide range of homeowners’ insurances that can be customized according to the budgets and needs of the clients. There are various rewards and discounts to make coverage even more affordable. 

The company covers manufactured homes, mobile homes, condos, houses, and seasonal homes. It also offers assistance with eco-friendly upgrades.

Our Farmers home insurance reviews will help you determine whether this home insurance is right for you. Let’s get started. 

How We Reviewed 

The reviews are based on numerous factors, starting with a thorough examination of the company’s website. We checked whether the site is easy to navigate and has all the information the clients would need to get started. 

We also examined if the company provides proper customer support options. 

We analyzed the available coverage options, including the discounts and rewards that impact the overall cost of the insurance. We also reviewed the financial strength of Farmers Insurance from leading rating platforms. 

Farmers Insurance rating was also determined by customer satisfaction based on the reviews of existing and previous customers. We assessed the positives and the complaints highlighted by the customers. 

Where Is It Available?

Farmers Insurance covers all the U.S. states. You can easily find an agent in areas near you. 

Home Insurance Coverage Options

Farmers home insurance has several insurance coverage options. They include:

Dwelling Coverage – pays the cost for repair or rebuilding of structures, in cases when damage is caused by a covered hazard. 

Guest Medical Protection – covers cases when anyone visiting your house gets injured. This policy takes care of the medical expenses no matter who was at fault. The costs typically include hospital stays, surgical procedures, X-rays, and ambulance rides. This coverage doesn’t cover individuals listed on your policy or the ones living in your house.

Liability Coverage – this option covers property damage and bodily injury caused to others that were legally caused by you or covered residents of the house.  

Other Structures Coverage – insures all the structures that are separated from the dwelling coverage by clear space or are linked by a related connection, utility line, or a fence. These include a wall, gazebo, swimming pool, driveway, tool shed, or a detached garage.

Personal Property Insurance – covers the personal items in your house, including furniture. In case the items are lost or damaged, the personal property protection would provide coverage to replace them. 

Reimbursed Living Expenses – this policy covers the cost of living expenses if your house gets damaged due to a covered loss that exceeds the ordinary expenses. For instance, the hotel bill, until you find a permanent residence, if your home is being replaced or repaired. 

Here are some additional benefits offered by Farmers Insurance:

Earthquake Insurance – this policy covers damages and losses caused to the house, buildings on your property, or other belongings due to an earthquake. 

Identity Theft Insurance – covers the homeowner in case of identity fraud and provides coverage for the expenses involved in restoring their identity. 

Sewage and Drain Backup Coverage – this covers the expense of water damage repair from overflowing sewers and drains, broken pumps, and other damage caused by water moving up from the ground. 

Valuable Items Coverage – this policy covers damage, loss, or theft of expensive items in your house, including watches, engagement rings, other jewelry items, and valuable collections. 

Contents Replacement Cost – this covers the replacement of personal items in your house that have 

been damaged or lost because of theft or other disasters. 

Eco-Rebuild Coverage – when you repair or rebuild the house after fire damage, you get around $25,000 for the additional cost of using green appliances and materials. 

You can choose from 3 types of coverage options – Standard, Enhanced, and Premier:

Standard Coverage – this is the most affordable homeowner package offered by Farmers Insurance. It includes all the 6 basic coverages, as well as the option to customize the coverage provided as per your needs or add extra benefits to your insurance.

Enhanced Coverage – this is the middle package offered by Farmers Insurance. It includes replacement cost coverage, with extended coverage limits for personal property and roof. 

Premier Coverage – this is the most comprehensive package offered by Farmers Insurance and is about $400 more than the standard coverage. It provides extended coverage limits for specific items, like firearms and jewelry, various coverage endorsements, and replacement cost coverage for the structure of your home. 

Farmers Home Insurance Pricing 

The cost of homeowners insurance may vary from state to state, depending on multiple factors. Farmers Insurance specializes in medium-sized homes that makes it more affordable than the insurance providers catering to high-end properties with more extended perks and protections. 

The Farmers Insurance pricing is relatively lower than the average priced coverage by other providers. On average, the policyholders of Farmers have a $1,480 annual premium. The rates are also affected by the coverage option selected by the policyholder. 

Let’s have a look at the average homeowner insurance at different coverage levels with Farmers Insurance:

Coverage Amount Average Annual Premium
$50,000 to $250,000 $1,564
$250,000 to $500,000 $1,761
$500,000 to $750,000 $1,730

Farmers Home Insurance Discounts

This insurance provider offers the majority of the standard discounts, along with multi-policy.  Farmers Insurance offers the following discounts:

Multi-policy Discount – you can get a discount if you combine home insurance with other insurance types, like auto insurance. 

Good Payer Discount – if you pay your premiums on time, Farmers Insurance offers a discount with an automatic payment plan. 

Security Upgrades – you can get more discount on your insurance if you install window locks, deadbolts, security system, sprinkler, or a fire alarm. 

Bundling Discount – if you insure your other properties with Farmers Insurance, then you are entitled to the bundling discount. 

Claim Free Discount – if you have been claim-free for 3 years or more, you will receive a discount. The claim-free years can also be carried over from other providers. 

Non-Smoker Discount – you can receive a further discount if your house has been smoke-free for 2 years or more. 

UL Approved Roofing Materials Discount – if the roof of your house has been constructed from the materials that Underwriters Laboratories consider as impact-resistant, you can get this discount. 

New Home Discount – if your house is 12 years old or less, you can receive this discount.

Declining Deductibles – this is more of a policy perk than a discount, but you can easily earn $50 for your annual deductible when your policy stays active. 

Claim Forgiveness – similar to the declining deductibles, this is another policy perk. If you have been claims-free for more than 5 years, Farmers Insurance will not increase your premium.

Home Renovation Discount – you can qualify for this discount by upgrading your plumbing, electric and mechanical systems. 

Home Security Discount – you will receive this discount for safe homes and energy-efficient homes that are LEED, EPA, or Energy Star certified. 

Customer Satisfaction and Financial Strength Review

Farmers Insurance customer satisfaction is slightly lower than average, as the ratings on Trustpilot and ConsumerAffairs reveal, but it is still better than many of its competitors. The policyholders have complained about inconsistent billing, lack of options to buy a policy online, and other issues. 

On the other hand, this insurance provider has strong financial stability. Farmers Insurance rating on BBB is A+, which indicates that the company is stable enough to handle its customers’ claims. It has earned about average complaints to the state regulators for the company of its size. 

Farmers Insurance rating on AM Best and S&P is an A, mostly for its ability of paying claims and offering comprehensive coverage options. 

Platform Rating
BBB  A+
ConsumerAffairs 1.8
Trustpilot 2

 

Customer Support 

Farmers Insurance customer service can be reached in multiple ways. You can either get in touch with the local agent through their website or their helpline. You can also send them a message, and one of their representatives will respond to your query. 

There is a separate 24/7 Farmers Insurance customer service number for filing claims. The claims can also be filed and tracked online. The company additionally offers a helpline for their hearing-impaired clients. 

Ease of Buying and Claims Handling 

The company website offers a vast amount of resources and tools. It has all the information you would need about the coverages, and the buying process. 

You would need to get in touch with an agent or a representative of Farmers Insurance to buy a policy. It doesn’t have an option to buy policies online. 

Farmers Insurance has a mobile app that allows you to call for roadside assistance, file and track your claims, manage all your policies, and pay the bills. 

Farmers Insurance claim filing process is relatively simple. You just have to get in touch with your agent or call the Farmers Insurance claim number to start the claim. You can log into your account online to keep track or add new information. 

After you have filed the claim, a representative will get in touch with you and guide you through the next steps. The company will assess the damage to determine if your policy covers that loss and make a resolution. 

Comparison With Competitors 

To give you a better idea of the home insurance provider you should choose, we compared Farmers Insurance with some of its competitors on the market. Let’s have a look:

Farmers Insurance vs Allstate 

Farmers Insurance and Allstate are one of the rare providers that offer claim forgiveness. Both companies offer a wide range of discounts, but Allstate has higher rates than Farmers. Allstate is also a more prominent company than Farmers and ranks better in customer satisfaction. 

Farmers Insurance vs GEICO 

GEICO doesn’t offer its home insurance policy but pairs the clients with one of its partners to provide the coverage. Customers seem to be satisfied with the service they have received. GEICO is a well-established insurance company and scored the highest in the customer satisfaction survey. It is also cheaper than Farmers Insurance. 

Farmers Insurance vs State Farm 

State Farm is known for its high-quality customer service and it also offers a comprehensive home insurance policy. The rates are more affordable than Farmers, but it doesn’t match the range of coverage options and discounts offered by Farmers. Both insurance providers allow customers to customize their coverage depending on their needs and budgets. 

Pros & Cons

The Pros

  • Fewer customer complaints than can be expected for home insurance products
  • Easy signup process and plenty of discounts available
  • Many options to customize home and auto policies

The Cons

  • Some coverages only available in specific packages
  • Customer satisfaction ratings are average
  • More expensive than its competitors

Final Verdict

Your house is undoubtedly one of the more valuable assets you own, which is why you must ensure you have the right home insurance coverage to protect it. Farmers Insurance checks most of the boxes as it offers extensive coverage options, policy customization, and great discounts. However, it has its drawbacks, like low customer satisfaction on claim handling and poor communication. 

It scores rather well for financial stability but has still has lower than average customer satisfaction ratings. If you are looking for good discounts and customization options, this insurance provider can be the right option for you. However, if you value customer satisfaction and more affordable rates, it would be wise to shop around before making your final decision. 

FAQs

How much is Farmers homeowners' insurance?

On average, Farmers have a $1,480 annual premium. The cost depends on the state you live in and the amount of insurance coverage you want to purchase.

Does Farmers homeowners insurance cover mold?

Typically home insurance covers the damage caused by mold if it is caused by any ‘covered peril’. In this case, you will be covered for mold cleanup, repairs, and removal. Otherwise, insurance companies don’t cover mold damage.

Does Farmers homeowners insurance cover termites and insects?

Pest control is the homeowner’s responsibility. Insects and termites can easily be prevented with cleaning and maintenance. Therefore, termites and insect damage is not covered by Farmers Insurance. However, the policy may cover damage caused by any wild animals.

Does Farmers homeowners insurance cover tree damage?

If your house gets damaged by a tree, Farmers Insurance is likely to cover the cost of debris removal. It is best to check with your agent to see what is and isn’t covered. 

Is Farmers Insurance the same as State Farm?

No. Farmers Insurance and State Farm are different insurance providers.

Does Farmers Insurance use credit score?

In the majority of the states, insurance providers use credit history to set the premiums. Customers who have a high credit score have to pay less than those with a low or poor credit score. 

Can I cancel my Farmers Insurance online?

You can cancel the insurance only by calling your agent or the helpline number.

Is Farmers Insurance and Farm Bureau the same?

No. Farmers Insurance and Farm Bureau are different insurance providers. To determine which one works best for you must check out Farm Bureau and Farmers Home insurance reviews