Farmers Insurance offers a wide selection of options when it comes to insurance policies, as well as discounts and savings opportunities. However, some of these benefits come at a cost. Because Farmers has higher premiums than other carriers, people looking for a low-cost auto insurance option may benefit from a different provider.
Auto Insurance Review: Farmers
The strongest feature of Farmers auto insurance is its financial strength. Claims satisfaction ratings are high, which means that claims tend to be processed quickly and reliably. While premiums can be costlier compared to other companies, Farmers offers various discounts for qualified customers. Additionally, the insurance provider is active in all states and has thousands of exclusive agents. If financial strength and accessibility are essential to you, Farmers may be the best fit for your auto insurance needs.
How Does Farmers Auto Insurance Rate?
Insurance companies like Farmers receive ratings from J.D. Power, AM Best and the National Association of Insurance Commissioners (NAIC). According to these trusted services, Farmers has good to excellent customer satisfaction and financial stability ratings. People who value these factors may find Farmers car insurance an appealing option. When choosing the best car insurance company for you, it is best to shop around and compare quotes.
Customer Satisfaction Rating
According to data provided by J.D. Power, Farmers earned a customer satisfaction rating of 816 out of 1,000 points. The industry average is 835, so Farmers' overall satisfaction level is lower than most competitors. These category-specific star ratings also rely on J.D. Power's data.
Customer Complaint Ratio
Another way to gauge customer satisfaction is by consulting the NAIC’s national complaint index report. This report assesses the average complaints a company has received in a given year, against a national median of 1. Farmers car insurance has a rating of 1.31, which means the company gets slightly more complaints than the national average.
The financial strength of a carrier reflects its ability to pay legitimate claims. AM Best ranks insurance carriers based on this aspect. Farmers earns an A based on this ranking system. An A rating means that the carrier is financially stable enough to cover its obligations to policyholders. However, this rating is only an estimate and doesn't serve as a guarantee for customers.
Farmers Insurance Features
Farmers has launched a variety of online tools to ensure good customer support. Policyholders can access features like online price quotes, rate calculators, bill pay, and claim filing through the Farmers website or mobile app.
- Type of FeatureDescription
- CalculatorsCalculate rates through the online calculator tool.
- Online Price QuotesGet personalized quotes through the Farmers website.
- Online Bill PayPay bills online or through the mobile app.
- Online ClaimsFarmers policyholders can file claims through their online account.
- Mobile AppFarmers mobile app is available for Android and Apple devices.
Farmers Auto Coverage
Farmers auto insurance offers standard coverage options, including the state minimum requirement, liability-only insurance and full coverage. You can purchase basic protection or more comprehensive coverage based on your needs.
- Type of CoverageDescription
- CollisionCovers damages to your vehicle after a collision, even if you were the one at fault.
- Personal Injury ProtectionProvides coverage for medical expenses for you and passengers in the event of an accident, regardless of fault. Lost wages and other related costs are also covered.
- UninsuredIn case you get in an accident caused by an uninsured driver or whose insurance policy does not fully cover the damages they caused, this type of coverage can help.
- LiabilityIt helps protect policyholders from financial burden after an accident wherein they are at fault. That includes bodily injuries and property damage.
Optional Insurance Features and Coverage
Sometimes, standard coverage may not be enough. In such cases, purchasing optional features and coverage may be necessary. Farmers offers a broad range of additional features, like roadside assistance, rental reimbursement, loss of use, accident forgiveness, auto glass repair and new car coverage.
- Type of OptionDescription
- Rental ReimbursementIf your vehicle cannot be used after an incident, this covers vehicle rental expenses.
- Roadside AssistanceGet help when the car breaks down. Can include towing, battery jumpstarts, flat-tire changes and locksmith services.
- Accident ForgivenessGuarantees that your policy’s rates won’t go up if you only have one at-fault accident for every three years of safe driving.
- Auto Glass RepairReduces deductibles for glass-only claims.
- New CarGuarantees that the carrier will replace a new vehicle totaled in an accident with another new vehicle of a similar make and model, at full market value and without depreciation, with some restrictions.
Available Discounts on Farmers Car Insurance Coverage
Farmers policyholders can access a wide variety of discounts, so long as they qualify. These discounts can help you save significant sums on your premiums.
- Type of DiscountDescription
- Safe DriverPeople with clean driving records can get significant discounts.
- Good StudentDiscount for students with a 3.0 GPA. Those who are on the Dean’s List, Honor Roll or the top 20% of their class qualify for additional saving opportunities.
- Multi VehicleSave money when you insure more than one car on your Farmers policy.
- FamilyHouseholds with a driver under 20 years old that have more drivers than the number of vehicles included in the policy can receive a family discount.
- Multi PolicyBundling a Farmers auto policy with other insurance policies allows you to save on your premiums.
Other Farmers Insurance Products
If you’re looking for insurance policies aside from auto insurance, Farmers offers various coverage options. Bundling these with your auto insurance policy can help you save significantly on your premiums.
- Type of ProductDescription
- Homeowners InsuranceCovers property damage and theft. It can also include dwelling, personal property, liability and medical coverage.
- Renters InsuranceHelps renters protect their personal belongings and is required in many states.
- Landlord InsuranceProtects landlords from financial burden due to property damage, liability and medical expenses caused by covered incidences.
- Rideshare InsuranceDrivers working in rideshare programs like Lyft or Uber can purchase optional coverage. It provides protection when no passengers are present, as long as the app is on.
- Business InsuranceCoverage for business owners. It covers the establishment, damages to rented spaces and employees.
How to Make a Car Insurance Claim With Farmers
Filing a claim with Farmers can be done in three ways: you can file a claim online, through your agent or through the company’s claim services phone line. A claims representative will contact you if any additional information is needed.
Contact Farmers Car Insurance
Methodology and Assumptions
To evaluate and review auto insurance companies, MoneyGeek carefully weighs factors such as price, financial strength, policy features, customer satisfaction, service and other leading indicators. MoneyGeek also references publicly available data from industry leaders such as J.D. Power, AM Best and the National Association of Insurance Commissioners (NAIC) and the Better Business Bureau. Learn more about MoneyGeek’s review methodology here.
- AM Best. "Farmers Group, Inc. Financial Strength Rating." Accessed January 19, 2021.
- J.D. Power. "2019 U.S. Auto Claims Satisfaction Study." Accessed January 19, 2021.
- The National Association of Insurance Commissioners. "Farmers Ins Co Inc National Complaint Index Report." Accessed January 19, 2021.