Farmers insurance review 2024
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At a glance
Score breakdown
Auto
3.8
Cost & ratings
3.5
Coverage
4.0
Support
4.0
Home
3.6
Cost & ratings
3.0
Coverage
4.3
Support
3.8
About Bankrate Score
Bankrate's take
Policyholders who value customized car insurance and robust coverage options, like life, home, pet or commercial insurance, might consider Farmers as their company of choice.
- Variety of car insurance offerings like rideshare coverage, no-deductible glass and windshield coverage and spare parts coverage
- Vast network of local agents spread across the country
- Poorly rated digital auto insurance tools
- Life insurance available in all states except New York
- Two types of term and two types of whole life insurance, plus a universal and an indexed universal policy
New
Starting in 2023, Farmers Insurance pulled out of Florida and is no longer offering auto, home or umbrella policies. Farmers is also limiting the amount of new home insurance policies it writes in California. This decision was made due to the increased risk of disasters and rising rebuilding costs.
Farmers car insurance review
Farmers Insurance earned a Bankrate Score of 3.8 out of 5. Although the company offers robust coverage options that may not be found with other carriers, it fell short due to its lower-than-average digital service score from J.D. Power. Still, based on Bankrate’s assessment, Farmers may be a good choice for drivers who want to personalize their car insurance policy.
Farmers may be among the best car insurance companies when it comes to coverage options. On top of standard coverage types, drivers may also be able to add options like new car replacement, accident forgiveness and full windshield and glass coverage. If your car insurance policy includes optional collision and comprehensive coverage, Farmers even provides an add-on option for customized equipment coverage to insure any vehicle additions, like aftermarket stereos and custom wheels.
Pros and cons of Farmers car insurance
When requesting car insurance quotes, you may find it helpful to compare perks and drawbacks for each provider. This practice helps to differentiate one carrier from another, and it can be an easy way to evaluate a company holistically. Here are some of the pros and cons we identified with Farmers auto insurance.
Pros
- Robust coverage options are offered that may not be available with other carriers
- Tens of thousands of agents located across the country
- Fewer-than-average customer complaints regarding private passenger auto, according to the National Association of Insurance Commissioners (NAIC)
Cons
- Low customer satisfaction per J.D. Power scores
- Lower-than-average J.D. Power digital service score
- Customer service is not available 24/7
Farmers car insurance cost
Based on Bankrate’s study of average annual premiums from Quadrant Information Services, the average cost of car insurance with Farmers is 2,838 per year for full coverage and $955 for minimum coverage. To compare, the national average cost of car insurance is $2,314 per year for full coverage and $644 for minimum coverage.
How much is Farmers car insurance?
Car insurance companies use several rating factors to calculate how much you pay for car insurance and your driving history may be one of the most significant. Insurers tend to view your driving history as a strong indicator of your overall driving behavior. Riskier drivers, like those with an at-fault accident, speeding ticket, poor credit or DUI on their records, are seen as more likely to file claims in the future. Some incidents are weighed more heavily than others between insurance companies, as you can see in the table below.
Please note that not all insurance companies will offer policies to drivers with DUI in their driving history.
| Driver profile | Farmers full coverage premium | National full coverage premium |
|---|---|---|
|
Good driver, good credit
|
Farmers full coverage premium
$2,838
|
National full coverage premium
$2,314
|
|
Farmers full coverage premium
$5,917
|
National full coverage premium
$4,063
|
|
|
Farmers full coverage premium
$3,548
|
National full coverage premium
$2,802
|
|
|
Farmers full coverage premium
$4,430
|
National full coverage premium
$3,283
|
|
|
Farmers full coverage premium
$6,201
|
National full coverage premium
$4,408
|
Farmers car insurance quotes by age
When comparing car insurance rates, age is another rating that may impact your premium in most states. Drivers aged 15 to 20 make up over 8 percent of all fatal car accidents. To offset the higher risk that young drivers carry, car insurance companies typically charge them a higher premium. However, younger drivers may get a lower rate if they choose to remain on their parents’ policy in lieu of purchasing their own policy.
| Age | Farmers full coverage premium | National full coverage premium |
|---|---|---|
|
Farmers full coverage premium
$6,549
|
National full coverage premium
$4,874
|
|
|
Farmers full coverage premium
$5,966
|
National full coverage premium
$4,258
|
|
|
Farmers full coverage premium
$6,653
|
National full coverage premium
$4,864
|
|
|
Farmers full coverage premium
$3,535
|
National full coverage premium
$2,854
|
|
|
Farmers full coverage premium
$3,002
|
National full coverage premium
$2,448
|
|
|
Farmers full coverage premium
$2,838
|
National full coverage premium
$2,314
|
|
|
Farmers full coverage premium
$2,401
|
National full coverage premium
$2,097
|
Compare Farmers car insurance rates
Each insurance company has its own, unique method for determining your rate. One insurer may reward a good credit score with an ultra-affordable rate, while it may not count for much with another insurer. The table below illustrates how Farmers car insurance rates stack up to other major companies.
| Company | Avg. full coverage premium | Avg. min coverage premium |
|---|---|---|
|
$2,838
|
$955
|
|
|
$2,364
|
$702
|
|
|
$1,988
|
$571
|
|
|
$2,971
|
$677
|
|
|
$1,695
|
$434
|
|
|
$1,853
|
$752
|
|
|
$1,839
|
$593
|
|
|
$1,806
|
$567
|
|
|
$1,694
|
$558
|
|
|
$1,639
|
$420
|
|
|
CSAA
|
$4,517
|
$950
|
Farmers customer satisfaction
Although cheap insurance is a priority for many, price might not be your only consideration when shopping for new coverage. Bankrate’s insurance editorial team understands that customer satisfaction may be top-of-mind for some, so we look to various third-party scores to help evaluate this.
Farmers auto claims satisfaction
One way we gauge an insurance company’s customer satisfaction is through studies conducted by J.D. Power. Each year, this rating company scores and ranks insurance companies in several subject areas, like overall customer satisfaction and claims satisfaction using a “best of” number on a 1,000-point rating scale.
In the 2023 Auto Insurance Study, Farmers scored below average in every region where it was scored. However, in the 2023 Auto Claims Satisfaction Study, Farmers came in at exactly average. This indicates that Farmers claims process and payout may be satisfactory, which ties into its A (Excellent) rating from AM Best, but that the insurer could improve its overall customer service.
Farmers auto insurance customer complaints
How many customer complaints a company receives is also a good indication of how customers feel about its service. The National Association of Insurance Commissioners (NAIC) produces an annual complaint index report assessing the frequency of complaints lodged against insurance companies. The index employs a baseline of 1.0. Scores below 1.0 indicate that a provider had fewer complaints than expected for a company its size and vice versa.
According to the NAIC, Farmers customer complaint score fluctuates between more and less than average depending on the year. In 2021, Farmers received fewer complaints than average but had slightly more complaints than average in 2020 and 2022. Since this NAIC index may conflict with customer satisfaction, as reported by J.D. Power, drivers who prioritize customer service may want to do further research on Farmers car insurance before making a decision.
Farmers car insurance discounts
Finding the cheapest car insurance company is a motivating factor for many consumers. While Farmers’ average premium may be lower than the national average, the company also offers many discounts that may help you save on car insurance. Please note that discount availability and savings amount may vary depending on your state.
- Good payer discount: You could be eligible for a discount if you have no late payments for 12 months.
- Shared family car discount: This discount could apply to your car insurance if there is a single driver aged 20 or younger in the household and there are more drivers than vehicles on the policy (excluding cars in storage).
- Signal discount: Farmers offers Signal, a usage-based telematics program that may reward drivers for safe driving habits. By downloading the mobile app and participating in the program, drivers could earn a discount and be entered to win monthly rewards for maintaining a safe driving score. The app even features CrashAssist, which utilizes sensors within your mobile phone to help detect accidents when they occur and request emergency services if needed.
- Alternative fuel discount: Policyholders in California who drive a vehicle that is powered by anything other than gasoline-only (a hybrid or electric vehicle, for instance) could save on their car insurance.
- Distant student discount: If your child lives at a school that is at least 100 miles away from home and does not have regular access to a vehicle, you could earn a discount.
- ePolicy discount: You may get a discount if you agree to receive your policy documents electronically rather than in paper form.
Farmers life insurance review
Farmers insurance may be a good choice for shoppers looking for a variety of life insurance products and who prefer to keep their policies under one roof. Having all your insurance needs in one convenient place could make it easier to manage your policies and make changes when needed.
Farmers New World Life Insurance Company underwrites Farmers life insurance, and its offerings may be robust compared to some carriers. To accommodate different needs, Farmers and its underwriting company offer two types of term and whole life, along with universal and indexed universal life policies. In addition to these policy types, you can customize your life insurance with one (or more) of the riders the company has available. Depending on your needs and rating factors, you may not need to take a medical exam to qualify for coverage.
Pros and cons of Farmers life insurance
Finding the best life insurance may be an important part of a well-rounded financial plan, no matter what stage of life you may be in. This list of pros and cons may help you decide if Farmers life insurance fits your needs.
Pros
- No medical exam required in many cases
- Multiple policy types and riders available
- No maximum death benefit limit on Farmers Value Term life policies
Cons
- No guaranteed acceptance life insurance policy offered
- Not rated by J.D. Power
- Unable to finalize purchase online. Must work with an agent.
Farmers life insurance riders
If you're shopping for life insurance, you may benefit from comparing quotes or seeking professional counsel provided by a licensed insurance agent or your financial advisor, especially if you’re unfamiliar with the different types of plans and the cost of life insurance. Farmers life insurance policies can be personalized for specific needs by adding life insurance riders. Some Farmers’ life insurance endorsements include:
- Waiver of premium endorsement: This option may help pay for policy premiums if you become disabled and lose your job.
- Critical illness endorsement: This rider may pay a sum if you are diagnosed with a specific illness, such as cancer, heart attack or stroke.
- Accelerated death benefit endorsement: If you are diagnosed with a terminal illness during your policy term, you may be able to collect a portion of your death benefit if you carry this endorsement on your life insurance policy.
Compare life insurance providers quickly and easily
See which provider is right for you.
Whole life insurance combines life insurance with an investment component.
- Coverage for life
- Tax-deferred savings benefit if premiums are paid
- 3 variations of permanent insurance: whole life, universal life and variable life include investment component
Term life insurance is precisely what the name implies: an insurance policy that is good for a specific term of time.
- Fixed premium over term
- No savings benefits
- Outliving policy or policy cancellation results in no money back
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Compare Farmers with other insurers
After reading this Farmers insurance review, you might not feel that Farmers is the best fit for your insurance needs. If so, you might want to consider requesting quotes from the companies below:
|
Featured
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|---|---|---|
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OVERVIEW
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Policyholders who value customized car insurance and robust coverage options, like life, home, pet or commercial insurance, might consider Farmers as their company of choice.
Read More
|
Individuals who are 50 or older may find that The Hartford offers specialized policy options and discounts for their demographic. However, you must be a member of the American Association of Retired People (AARP) to be eligible.
Read More
|
As the fifth-largest property and casualty insurer by market share, Liberty Mutual could be another option if you prefer a major national insurance company, especially if you reside in a state where Farmers does not offer your desired product type. Liberty Mutual also offers more advertised life insurance riders than Farmers.
Read More
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STANDOUT FEATURES
|
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Many car insurance endorsements
National network of agents
Lots of insurance discounts
|
Highly rated customer service
Exclusive to AARP members
Accident forgiveness and more
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Local agencies available
Highly rated digital tools
Sells multiple insurance products
|
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AVG FULL COV. AUTO RATE
|
||
| $2,838 | $2,645 | No rates available |
|
JD POWER AUTO SCORE
|
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882/1000 |
869/1000 | 870/1000 |
|
AVG HOME RATE
|
||
| $2,525 |
$2,075 |
No rates available |
|
JD POWER HOME SCORE
|
||
| 800/1000 |
807/1000 |
789/1000 |
|
AM BEST RATING
|
||
| A(Excellent) |
A+(Superior) |
A(Excellent) |
Why you can trust Bankrate
Read our full methodologyOur insurance editorial team includes licensed agents with decades of combined experience, and we used our intimate knowledge of the industry to conduct this in-depth Farmers insurance review.
46
years of industry expertise
122
carriers reviewed
34.5K
ZIP codes examined
1.2M
quotes analyzed
Is Farmers a good insurance company?
Bankrate’s insurance editorial team includes licensed agents who are committed to helping you evaluate a company on coverage offerings, price, availability and digital tools. We aim to use our real-world experience to bring you the information you may need to make an informed decision regarding your insurance policy.
Based on our assessment, Farmers insurance might be a good choice if you don’t mind spending a little extra for robust coverage options. With its wide array of insurance products, Farmers may also be best for shoppers who prefer to keep their policies with the same company. On the other hand, Farmers’ digital service may be lacking, according to the 2023 J.D. Power U.S. Insurance Digital Experience Study. The best way to determine if Farmers is a good company for you may be to request a quote.
What are real-life customers saying about Farmers?
To give a more accurate picture of Farmers insurance, Bankrate’s editorial team looked at what real-life Farmers customers were saying on Reddit. Although Reddit is not an official review site, as a discussion forum, it can provide valuable insight into how its policyholders view (and potential customers) the company.
Farmers' higher quoted rates can be a major deterrent for most people considering the company. However, for those seeking more personalized customer service, Farmers higher average rates may be worth the trade-off:
“Farmer's is an agent model - if it's important to you to 'have a guy' then it might be worth it.... Is it worth it to have 'a guy?' That's up to you. Sometimes having an agent makes making a claim easier, sometimes not.” - BigNavy, 3/13/15
Farmers company details
- Customer service: 1-888-327-6335
- Sales: Find a local agent
- Claims: 1-800-435-7764
- Billing: Call customer service or pay online
- Website: farmers.com
- Customer service mailing address: 6301 Owensmouth Avenue
Woodland Hills, CA 91367 - Billing mailing address: P.O.Box 0991, Carol Stream, IL 60132-0991
State availability
Farmers has various products available in all 50 states and Washington D.C. However, it does not offer all products in all states. For auto, coverage is available in all states except Alaska, Delaware, Hawaii, Maine, New Hampshire, Rhode Island, Vermont, Washington, D.C. and West Virginia. Recently it has stopped writing auto and home policies in Florida and limiting home coverage in California. Farmers life insurance is not available in New York. Its website does not give a complete list of exactly where it is available.
Farmers tools and benefits
Personal auto insurance isn’t the only kind of vehicle coverage that Farmers offers. The company also provides insurance policies and endorsements across several additional insurance products.
- Recreational vehicle coverage: Farmers offers policies for motorcycles, boats, watercraft and collectible cars, as well as larger vehicles like RVs, motorhomes and travel trailers.
- TrueCar: Farmers car shopping service, TrueCar, connects car buyers with certified auto dealers across the country. By shopping with TrueCar, buyers are able to view a vehicle’s price and see if it is currently higher or lower than its current market value in their area.
- Life Compass: Farmers’ Life Compass feature allows you to complete a short quiz to help you understand which life insurance products may suit you based on your goals and financial situation. From there, you can request a life insurance quote online or bring the results to a local Farmers agent if you have more questions.
- Home Leak Detection: Farmers homeowners policyholders concerned about water conservation may save 20 percent on Flume’s water-leak detection device. This monitoring system can be installed without a plumber and comes with a mobile app to help monitor your home’s water usage and alert you of any issues. Farmers home policyholders in Michigan or Minnesota who have a Flume device may receive an additional discount on their home policy.
- Pet insurance: Farmers has partnered with Pets Best to provide pet insurance. They offer two levels of coverage: Accident-Only and BestBenefit Accident and Illness. The latter also has the option to add wellness routine care.
- Landlord insurance: Landlords renting out their own property to tenants may have unique liability exposure that a standard homeowners insurance policy won’t cover. In most policies, this includes increased liability and wrongful eviction coverage.
- Commercial insurance: Farmers provides businesses with a wide array of coverages including property, liability, commercial auto, workers’ compensation, commercial umbrella and group life plans.
- Financial products: In addition to its life insurance policies, Farmers offers customers an opportunity to invest through mutual funds, IRAs, college savings plans and annuities.
Frequently asked questions about Farmers
Methodology
Bankrate utilizes Quadrant Information Services to analyze the latest rates in April 2024 for ZIP codes and carriers in all 50 states and Washington, D.C. Rates include the most recent approved rate changes filed by insurance companies that affect our profile. These revised rates are then weighted based on the population density in each geographic region so that policyholders can see the impact rates have in their areas.
Auto
- $100,000 bodily injury liability per person
- $300,000 bodily injury liability per accident
- $50,000 property damage liability per accident
- $100,000 uninsured motorist bodily injury per person
- $300,000 uninsured motorist bodily injury per accident
- $500 collision deductible
- $500 comprehensive deductible
To determine minimum coverage limits, Bankrate used minimum coverage that meets each state’s requirements. Our sample drivers own a 2021 Toyota Camry, commute five days a week and drive 12,000 miles annually.
Age: Rates were calculated by evaluating our base profile with the ages 16-60 (base: 40 years) applied. Depending on age, drivers may be a renter or homeowner. Age is not a contributing rating factor in Hawaii and Massachusetts.
The rates for drivers ages 16–20 added to their parents’ policy reflect the good student and driver's training discounts applied. The rates for drivers aged 16-20 on their own policy do not include the good student and driver's training discounts. Additionally, 25-year-old rates are based on the driver as a renter and 30+ on the driver as a homeowner.
Incidents: Rates were calculated by evaluating our 2022 base profile with the following incidents applied: clean record (base), single speeding ticket and single at-fault accident.
Bankrate Scores
Our 2024 Bankrate Score considers variables our insurance editorial team determined impacts policyholders’ experiences with an insurance company. These rating factors include a robust assessment of each company’s product availability, financial strength ratings, online capabilities and customer and claims support accessibility. Each factor was added to a category, and these categories were weighted in a tiered approach to analyze how companies perform in key customer-impacting categories.
Each category was assigned a metric to determine performance, and the weighted sum adds up to a company’s total Bankrate Score — out of 5 points. Our scoring model provides a comprehensive view, indicating when companies excel across several key areas and highlighting where they fall short.
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Cost & ratings 50%
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Coverage & savings 30%
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Support 20%
- Tier 1 (Cost & ratings): To determine how well auto and home insurance companies satisfy these priorities, average quoted premiums from Quadrant Information Services (if available), as well as any of the latest third-party agency ratings from J.D. Power, AM Best, Demotech and the NAIC, were analyzed.
- Tier 2 (Coverage & savings): We assessed companies’ coverage options and availability to help policyholders find a provider that balances cost with coverage. Additionally, we evaluated each company’s discount options listed on its website.
- Tier 3 (Support): To encompass the many ways an auto insurance company can support policyholders, we analyzed avenues of customer accessibility along with community support. This analysis incorporated additional financial strength ratings from S&P and Moody’s and factored a company’s corporate sustainability efforts.
Tier scores are unweighted to show the company's true score in each category out of a possible five points.
Natalie Todoroff is an insurance writer for Bankrate, prior to which she wrote for a popular insurance comparison shopping app. She has a Bachelor of Arts in English and has written over 800 articles about insurance throughout her career.
