Farmers Insurance

Serving America for nearly a century, Farmers prides itself in providing quality insurance products coupled with exceptional customer service.

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9.6
Grand Score
8
User Score
9.6
Grand Score
8
User Score
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Farmers was founded in 1928 with a goal to provide insurance to rural farmers, but as the world evolved, so did the company. Today, Farmers boasts serving more than ten million households across the United States.The company provides a wide selection of different types of insurance, including renters insurance. Renters insurance was created not only to cover your personal property, but also to help cover any liability claims that may be filed against you while you are renting. 

Also, if you find that your rented home needs several repairs that prevent you from living there, renters insurancewill cover reasonable and necessary out-of-pocket expenses you may incur, such as living expenses. Simply put, renters insurance ultimately protects you and your personal belongings if the worst case scenario happens. Although your landlord's insurance policy on the home usuallyprotects the building structure itself, it’s your responsibility to protect what’s inside. 

Grandfolk Scoring
Cost 10/10
Ease 10/10
Coverage 10/10
Waiting period 5/10
Customer support 9/10
Mobile app 10/10
Online quotes 7/10
Discounts 10/10
Payments 10/10
Local agents 10/10
Paperless 10/10
Online policy 10/10
Cost
Monthly fee
Coverage and fees vary; get a quote for more details
Ease
Ways you can enroll
Online or by phone
Coverage
What services are covered
Personal property coverage, liability coverage, and more
Waiting period
Is there a waiting period?
Unclear from website; check with an agent to be sure
Customer support
When can I contact customer service?
7 AM-11 PM CST Mon-Fri, 8 AM-8 PM Sat-Sun
Mobile app
Is a mobile app available?
Yes, you can manage much of your policy using the mobile app
Online quotes
Are quotes available online?
Farmers online quotes are available to new customers only
Discounts
Are discounts available to lower premiums?
Yes, Farmers offers a variety of insurance discounts
Payments
What types of payments are accepted?
Bank account, credit card and EFT
Local agents
Are local agents available?
Yes, local Farmers agents are available
Paperless
Is there a paperless billing option?
Yes, Farmers offers a paperless option
Online policy
Can a policy be purchased online?
Yes, you can purchase a policy online
Age Score:
10
50-65 Years
10
65-75 Years
10
75-85 Years
10
85-Above

A recent study has shown that more seniors are choosing to rent, resulting in a growth in the rental market over the last decade, according to The New York Times. Many seniors choose to rent due to the convenience of outsourcing repairs and home maintenance needs, which makes life that much easier. Renters insurance is one of the most valuable, yet overlooked, pieces of financial security available to renters. 

Throughout your life, you accumulate many valuables, including apparel, small appliances, electronics, furniture and personal items. Losing everything you own can be one of the toughest experiences to go through. Fortunately, in the event that your items are lost or damaged, Farmers Claim Services is available around the clock to help you process your claim and guide you through the claim filing process from beginning to end.

Health Score:
10
Great Health
10
Good Health
10
Fair Health
10
Poor Health

As a renter, it is quite possible that you could be liable for injuries to your guests. Injuries could result from a variety of causes, from accidentally scalding a guest with hot tea to leaving a pair of shoes in your hallway that causes a guest to trip and fall. The possibility of being sued can not only place you in an immediate financial and emotional hardship, butthe stresses of a lawsuit can also exacerbate any illnesses that you are already facing. 

Personal Liability Coverage can provide security if a visitor to your home is injured and files a liability claim against you. Though it is often overlooked, liability insurance is one of the most important pieces of your renters insurance policy. 

Fortunately, Farmers provides Personal Liability Coverage as part of its renters insurance coverage. Its liability provision provides coverage not only to you, but also to family members living with you. It provides the protection needed if you are found to be liable for injury or damage as the result of an accident, negligent acts or unruly pets.

Pros:

  • The Farmers Mobile App is a quick and convenient way to access and manage your policy.
  • Farmers provides a wide range of affordable coverage that can be tailored to meet your individual needs.
  • Farmers provides coverage in every state. The company also has thousands of local agents in many communities, making it a convenient option if you prefer to file your claim in person rather than online.
  • Farmers allows you to customize your premium by increasing or decreasing your deductible in some cases.
  • Farmers provides an option for new customers to get a quote online. The process is easy and immediate. 
  • The Farmers Agents are knowledgeable and willing to assist when needed. 
  • Through the online portal, you can connect with an agent, report a claim and check on claim status.
  • The entire claims process is efficient and seamless. 
  • When complaints are made against the company online, Farmers does its best to follow up immediately to resolve any issues.

Cons:

  • Farmers provide a $500 limit on theft of all jewelry, including watches, precious and semi-precious stones. This is quite low considering that some competitors in the market offer a coverage limit up to $1,500 per item.
  • A major downside and a source for many complaints is the cost. Customers have complained that the costs were notably higher than competitor costs by as much as 15%. 
  • Farmers is an agent-driven insurance company. This means that agents are paid commissions for each new policy and renewal. Customers have complained that this agent-driven model sometimes solicited dishonest practices by the agents when writing policies. 

Bottom Line:

Farmers was founded in 1928, but has grown to become the third-largest home insurer, offering a variety of insurance products. One of its most popular products, renters insurance, covers not only your personal property, but also protects you in liability claims while you’re renting. 

In June 2017,Fortune magazine namedFarmers as one of the 500 largest companies based in the United States. The company moved up five places in rank to secure No. 222. Additionally, Farmers Insurance was recognized by Fortune as one of the nation’s most successful organizations.
The company continues to strive for excellence. While its rates are not always guaranteed to be the lowest, Farmers has gained a reputation of servicing its policyholders promptly and accurately.

Frequently Asked Questions:

Will the premium increase if a claim is filed?

There is no yes or no answer to this question. It is possible that a premium may or may not increase when a claim is filed.The determination of whether a premium increases depends in part on the terms of the policy, previous claims filed and regulations and policies in your state. 

When a claim is filed, is proof of ownership needed for stolen or damaged property?

Yes. In order to prove ownership of property being claimed as lost or damaged, purchase receipts, owner's manuals, product packaging, appraisals, or photographs of the items are required to submit a claim successfully. 

Can the status of a claim be monitored?

Absolutely. A Farmers claims representative can provide a status update either by phone or at a local office. The claim status can also be monitored from the online portal or through the mobile app. 

More Information:

Product Details

Overview: Farmers is the country's third-largest insurer of a wide range of personal insurance and financial services products.

Package Details: N/A

Optional Accessories or Add-on Services, if any:  N/A

Additional Company Details

Contract Details: N/A

Warranty: N/A

Accreditations: Farmers Insurance has an accredited business profile with the Better Business Bureau and maintains an A+ rating.  

Company Details: Founded in 1928, Farmers now provides insurance to more than ten million households across the United States. The company boasts 48,000 select and independent agents, and over 20,000 employees.

Contact: 

Farmers Insurance
4680 Wilshire Blvd
Los Angeles, CA 90010-3807
Tel: 888-327-6335
Website: www.farmers.com

T. Mashae Pearson - Senior Advisor

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