Auto Insurance Review: Farmers

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.

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  2. Farmers Car Insurance Reviews & Discounts for 2021
iconribbonScore78

2/5

discounts

4/5

complaints

3/5

satisfaction

4/5

stability

3/5

affordability


pros

This is an iconHighly rated for financial strengths, which means claims are paid reliably
This is an iconAvailable in all states
This is an iconSpecialty auto insurance and premium coverage options

cons

This is an iconHigher premiums compared to other carriers
This is an iconDifficult-to-navigate website
This is an iconPotential rate increases

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

First Notice of Loss:
3/5
Estimation of Process:
4/5
Repair Process:
4/5
Claims Servicing:
4/5
Rental Experience:
4/5
Settlement:
4/5

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

Farmers

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.

Financial Strength

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.

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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 Feature
    Description
  • Calculators
    Calculate rates through the online calculator tool.
  • Online Price Quotes
    Get personalized quotes through the Farmers website.
  • Online Bill Pay
    Pay bills online or through the mobile app.
  • Online Claims
    Farmers policyholders can file claims through their online account.
  • Mobile App
    Farmers 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 Coverage
    Description
  • Collision
    Covers damages to your vehicle after a collision, even if you were the one at fault.
  • Personal Injury Protection
    Provides 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.
  • Uninsured
    In 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.
  • Liability
    It helps protect policyholders from financial burden after an accident wherein they are at fault. That includes bodily injuries and property damage.
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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 Option
    Description
  • Rental Reimbursement
    If your vehicle cannot be used after an incident, this covers vehicle rental expenses.
  • Roadside Assistance
    Get help when the car breaks down. Can include towing, battery jumpstarts, flat-tire changes and locksmith services.
  • Accident Forgiveness
    Guarantees 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 Repair
    Reduces deductibles for glass-only claims.
  • New Car
    Guarantees 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.
  • Other
    Loss of use - Covers additional expenses incurred by accidents or sources of damage to your vehicle. It also provides a flat fee for any costs for alternate transportation. Customized equipment - Covers any damage to customizations, including a vehicle’s wheels, sound system and paint job. Original equipment manufacturer - Guarantees that parts are replaced with factory originals.

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 Discount
    Description
  • Safe Driver
    People with clean driving records can get significant discounts.
  • Good Student
    Discount 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 Vehicle
    Save money when you insure more than one car on your Farmers policy.
  • Family
    Households 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 Policy
    Bundling a Farmers auto policy with other insurance policies allows you to save on your premiums.
  • Safety Equipment
    Having anti-theft, anti-lock, passive restraint or other safety features can qualify you for this discount.
  • Away At School
    Students who are 23 years old or younger, are attending a school more than 100 miles away and have no regular access to their cars can get this discount.
  • Auto Pay
    Policyholders selecting Electronic Funds Transfer as their billing method can receive money off on their premiums.
  • Paperless
    Choosing electronic document delivery earns you a discount with Farmers.
  • Pay In Full
    Paying your premium upfront and in full can help you save money.
  • Electric Vehicle
    Individuals driving hybrid, electric or other alternative-fuel vehicles can get up to a 5% discount.

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 Product
    Description
  • Homeowners Insurance
    Covers property damage and theft. It can also include dwelling, personal property, liability and medical coverage.
  • Renters Insurance
    Helps renters protect their personal belongings and is required in many states.
  • Landlord Insurance
    Protects landlords from financial burden due to property damage, liability and medical expenses caused by covered incidences.
  • Rideshare Insurance
    Drivers 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 Insurance
    Coverage for business owners. It covers the establishment, damages to rented spaces and employees.
  • Motorcycle Insurance
    Coverage for motorcycles. It can include collision and comprehensive or additional customized coverage.
  • Recreational Vehicle Insurance
    Insurance coverage for boats, travel trailers, RVs and ATVs.

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.

sources