Overview of Farmers Car Insurance

Farmers Insurance started out, logically enough, offering automobile insurance to farmers and ranchers. Since its beginning in Los Angeles in 1928, Farmers has grown to be the sixth largest auto insurance carrier in the country, handling five percent of the market. The company is also known for its “University of Farmers” training for agents, comically portrayed in ads by Academy Award-winning actor J.K. Simmons as Professor Nathaniel Burke.

How Does Farmers Car Insurance Rate?

Consumer Satisfaction Rating

These ratings are from the J.D. Power 2015 U.S. Auto Insurance Claims Satisfaction Study. The highest score for each category is five stars. The Farmers Insurance Company subsidiary rated here may not be the subsidiary that underwrites your insurance policy. Check with your insurance agent for more information.

Overall Satisfaction
First Notice of Loss (FNOL)
Service Interaction
Appraisal
Repair Process
Rental Car Experience
Settlement
(how well company settles claims)
Customer Complaint Ratio

The National Association of Insurance Commissioners (NAIC) collects complaint information from state insurance regulators. The national median complaint ratio is 1. A score of less than 1 means a company has a lower than average number of complaints, while a score higher than 1 means it has more than average. The Farmers Insurance Company subsidiary rated here may not be the subsidiary that underwrites your insurance policy. Check with your insurance agent for more information.

Last Updated: September 2016

Financial Strength Rating

A Best’s Financial Strength Rating opinion addresses the relative ability of an insurer to meet its ongoing insurance obligations. It is not a warranty of a company’s financial strength and ability to meet its obligations to policyholders. View our Important Notice: Best’s Credit Ratings for a disclaimer notice and complete details at http://www.ambest.com/ratings/notice.

Financial Strength is rated on a scale of D (poor) to A+ (superior). A rating notch of either a second “+” or a “-“ indicates the gradation of financial strength within the category. We can’t guarantee that the subsidiary of Farmers Insurance rated here is the subsidiary that will underwrite your insurance policy. Check with your insurance agent and review A.M. Best’s Financial Strength Rating Guide for more information.

Best’s Credit Ratings™ are under continuous review and subject to change and/or affirmation. For the latest Best’s Credit Ratings™ and Best’s Credit Reports which include Best’s Credit Ratings™), visit the A.M. Best website at http://www.ambest.com. See Guide to Best’s Credit Ratings™ for explanation of use and charges.

Best’s Credit Ratings™ reproduced herein appear under license from A.M. Best and do not constitute, either expressly or impliedly, an endorsement of MoneyGeek.com or its recommendations, formulas, criteria or comparisons to any other ratings, rating scales or rating organizations which are published or referenced herein. A.M. Best is not responsible for transcription errors made in presenting Best’s Credit Ratings™. Best’s Credit Ratings™ are proprietary and may not be reproduced or distributed without the express written permission of A.M. Best Company.

Source A.M. Best
Rating A

Effective Date: January 2017

Website Features
  • Rate calculator
  • Mobile app
  • Pay bill online
  • Make claim online

Pros and Cons of Farmers Car Insurance

Pros

  • One of the largest auto insurance companies in the country, Farmers has a lot of resources to offer, like a Farmers Rewards Visa card. And if you’re looking to purchase a car and get insurance, the Farmer’s Car Buying Service will help connect you with a certified dealer and tack on extra benefits.
  • Farmers brick and mortar offices and its 48,000 agents are easy to locate when you need to talk to a real live person.
  • Farmers provides specialty auto insurance for antique and classic cars—a plus for car aficionados!

Cons

  • Even if you purchase your policy online, a Farmers agent will still contact you, which some insurance shoppers may find annoying.
  • Farmers auto insurance policies run for a six-month term, exposing policyholders to potential rate increases twice as often as carriers who write 12-month policies.
  • The online quoting tool can miss some options, such as rental reimbursement, or include others without explaining the coverage limits, such as the towing and road service coverage.

Farmers Car Insurance Coverage

Farmers offers standard coverage options, with little to set them apart from other insurance carriers in the marketplace. They offer plenty of options to purchase extra coverage, but some of this coverage is included free of charge by other companies.

Farmer’s standard coverage options are what you would expect from a solid and well-established carrier. They cover up to customary limits and offer an umbrella policy for those who want more than standard protection. And they don’t skimp on coverage features.

Bodily injury liability

Farmers offers the standard coverage for bodily injury liability, starting at the state minimums, but instead of topping out at $250,000 per person/$500,000 per incident, they go a step higher, to $500,000/$500,000.

Property damage liability

The coverage for liability for damage to property, or for defense in a lawsuit arising from damage to property, ranges from the state minimum up to $500,000.

Medical coverage

You can choose no-fault medical payments coverage up to $50,000, and Farmers includes coverage for funeral expenses as well.

Uninsured and underinsured motorist

While this coverage — which protects you if you get in an accident with a motorist with little or no insurance — isn’t required, most insurance agents recommend you carry it at the same level of protection that you have in bodily liability coverage, and Allstate follows this guideline.

Uninsured motorist

If you choose to include uninsured motorist coverage with your Farmers policy, it cannot exceed the bodily injury liability coverage, and if you try to produce a quote with a higher UM coverage, the online quoting tool will raise a red flag until you correct the entry.

Comprehensive

If you have comprehensive coverage, you can choose a deductible up to $2,500. The deductible must be $250 or more for the vehicle to be eligible for the optional glass deductible buyback coverage.

Collision

Collision coverage also offers deductibles up to $2,500. If the vehicle is financed and you neglect to include collision, the online quoting tool will alert you and won’t let you continue until you add this coverage. Be aware that the system won’t tell you what deductible level is required. just that the coverage has to be on the policy.

The non-standard coverage options that Farmers offers all seem to have their own special version of the coverage so a policyholder should go over each one to be sure it is clear, as it likely differs from what a driver is used to from a competing insurance carrier.

Towing and roadside assistance

Instead of having you choose from a range of coverage amounts, Farmers simplifies this option by providing a blanket $150 coverage for ‘reasonable and necessary services’. You can either use the company’s roadside service or call your own provider and submit your bill for reimbursement. You must have collision coverage to include this option.

Glass deductible buyback coverage

This option lets you reduce your comprehensive deductible to $100 if you have a glass-only claim, but you must have comprehensive coverage with a deductible of at least $250 already on your policy.

Loss of use

If you experience extra expenses because of an accident or damage to your car, this will help to cover them. If the loss takes place more than 50 miles from home, this coverage will help pay for the expense of getting the vehicle home. And if the car is stolen, it will pay an additional amount above and beyond that covered on the standard policy.

New car pledge

If your new car is totaled, Farmers will replace it with a new model (you are still responsible for your deductible). Farmers considers ‘new’ to include the first two years or 24,000 miles, which is double what some other carriers will cover in their new car replacement coverage.

Accident forgiveness

If you add this option to your policy, the company will forgive one accident for every three years of accident-free driving.

Small claim forgiveness

Even small at-fault accidents can have a big impact on your renewal rates, but if you choose this option, you won’t see a rate hike due to small accidents.

Incident forgiveness

This optional coverage will prevent your rates from increasing due to a traffic citation, as long as no one files a claim (not available in all states).