Farmers Car and Home Insurance Review (2024)
- Expertise: Auto insurance, home insurance and renters insurance
- Education: University of California-Berkeley (BA in History)
Rob Bhatt is a licensed insurance agent and joined the staff of Lending Tree in 2021. Previously, he spent more than 20 years writing for and editing regional publications in California, Nevada and Washington. Rob enjoys helping readers understand how different coverages work so they can make informed purchasing decisions, and he specializes in producing research-backed content for LendingTree about auto, home and renters insurance. His work has been cited by ABC, Business Insider, MSN and Yahoo.
Farmers is a good company if extra insurance protections are more important to you than price. Its rates are high. But Farmers offers several discounts that can make bundling your home and auto insurance affordable.
Pros
High ranking for homeowners claims satisfaction
Guaranteed replacement coverage available for homeowners
Add-ons include new car replacement and accident forgiveness
Generous discounts for bundling home, auto, and other policies
Cheapest home insurance rates in Iowa and Montana
Cons
Higher-than-average rates
Gap insurance not available for car insurance
Farmers insurance review: Is Farmers a good company?
Farmers is a good company to contact for a quote if you plan to bundle your home and auto insurance. Its rates are higher than average in most states, and it gets mixed customer service reviews.
On the plus side, Farmers has an excellent rating for home insurance claims from J.D. Power. It also has a good home insurance complaint score from the National Association of Insurance Commissioners (NAIC).
Its wide network of exclusive agents makes it easy to get personalized service in most parts of the country.
However, Farmers’ overall satisfaction ratings are below industry averages for both home and auto insurance.
Farmers reviews and ratings at a glance
| Review or rating | Farmers' score | Industry average |
|---|---|---|
| Overall Auto Satisfaction (Higher is Better) | 802 (Worse than Average) | 820 |
| Overall Home Satisfaction (Higher is Better) | 800 (Worse than Average) | 819 |
| Auto Complaint Rating (Lower is Better) | 1.25 (Worse than Average) | 1.0 |
| Home Complaint Rating | 0.8 (Better than Average) | 1.0 |
| Auto Claims Score (Higher is Better) | 878 (Average) | 878 |
| Home Claims Score (Higher is Better) | 883 (Excellent) | 869 |
| Financial Strength Rating | A (Third-highest possible rating) | N/A |
Sources: J.D. Power, National Association of Insurance Commissioners, AM Best
How much is Farmers car insurance?
Farmers charges an average of $1,188 a year, or $99 a month, for liability insurance. Its full-coverage rates average $3,091 a year, or $258 a month.
Farmers’ liability and full-coverage rates are both more than 50% higher than national averages.
Car insurance rates by company
| Company | Liability coverage | Full coverage |
|---|---|---|
| State Farm | $597 | $1,487 |
| Geico | $727 | $1,937 |
| American Family | $728 | $1,920 |
| U.S. Average | $773 | $1,972 |
| Progressive | $791 | $2,032 |
| Travelers | $835 | $1,919 |
| Nationwide | $963 | $2,226 |
| Allstate | $1,158 | $2,609 |
| Farmers | $1,188 | $3,091 |
Since rates vary by customer, it’s good to compare quotes from multiple companies when you shop.
How much is Farmers for bad drivers?
Farmers’ rates are higher than national averages for drivers with a bad record.
For example, Farmers charges drivers with a speeding ticket $4,252 a year, or $354 a month. This is 75% higher than the national average.
Farmers’ rate for drivers with a prior accident is 57% higher than the national average. Its rate for drivers with a DUI is 31% higher.
Farmers’ car insurance rates for drivers with a prior incident
| Incident | Farmers rate | U.S. average |
|---|---|---|
| Speeding Ticket | $4,252 | $2,427 |
| At-fault Accident | $4,598 | $2,930 |
| DUI | $4,758 | $3,626 |
How much does Farmers charge teen drivers?
Farmers car insurance rates are especially high for teenage drivers. It charges 18-year-olds an average of $4,227 a year, or $352 a month, for liability insurance. Its full-coverage rates for 18-year-olds average $9,354 a year.
Both rates are more than 60% higher than national averages.
Car insurance rates for 18-year-olds
| Coverage | Farmers rate | U.S. average |
|---|---|---|
| Liability | $4,227 | $2,433 |
| Full coverage | $9,354 | $5,824 |
Which car insurance discounts does Farmers offer?
Farmers offers several car insurance discounts that can bring its rates down to a more affordable level.
Like most companies, Farmers offers a generous discount for bundling your car insurance with your home or renters policy. Farmers also insures boats, motorcycles, ATVs, RVs and rental properties. The more policies you bundle, the more you save.
You can get another big discount if you sign up for Signal, Farmers’ app-based safe driver program. Once you download the app, it monitors your driving. If you drive safely enough, you get discounts on future renewals.
Some of Farmers’ other notable car insurance discounts include:
- Affinity discount for people who work in certain fields, such as health care or education. The discount is also available to current and former members of the military.
- Mature drivers over 55 can get a discount for completing a state-approved defensive driver class.
- Homeowners discount just for owning your home, even if a different company insures it.
- Anti-theft measures such as VIN etching can also get you a discount.
- Young drivers who maintain a B average in high school or college can get a good student discount.
Car insurance discount comparison
| Discount | Farmers | State Farm | Allstate | Geico |
|---|---|---|---|---|
| Bundling | Yes | Yes | Yes | Yes |
| Military | Yes | No | No | Yes |
| Safety App | Yes | Yes | Yes | Yes |
| Defensive Driver | Yes | Yes | No | Yes |
| Homeowners | Yes | No | No | No |
| Good Student | Yes | Yes | Yes | Yes |
These discounts are not available in every state. Make sure to ask about these and other ways to save when you request a quote.
What does Farmers car insurance cover?
Farmers offers the same normal auto insurance coverages as most companies, plus a few valuable extras.
Its accident forgiveness coverage protects you from a rate increase after an at-fault accident. You have to avoid accidents for at least three years to qualify for the coverage.
Farmers also offers original equipment manufacturer (OEM) coverage. OEM pays to replace damaged parts with factory originals, instead of cheaper aftermarket parts.
Farmers’ other add-ons include:
- Customized equipment: Pays to repair or replace custom wheels, sound systems, and other parts and accessories.
- Loss of use: Covers rideshare and transit expenses, along with car rentals, while your car is in the shop. This gives you more flexibility than standard rental car reimbursement.
- Full glass coverage: Pays to repair or replace your windshield and windows with no deductible.
How much is homeowners insurance from Farmers?
Farmers charges an average of $3,801 a year, or $317 a month, for homeowners insurance.
Although this is 26% higher than the national average, its rates vary by state. In Iowa and Montana, Farmers has the cheapest home insurance rates.
| Company | Annual rate |
|---|---|
| State Farm | $2,427 |
| Allstate | $2,560 |
| Progressive | $2,648 |
| U.S. average | $2,801 |
| Nationwide | $3,055 |
| American Family | $3,072 |
| Travelers | $3,149 |
| Farmers | $3,801 |
Home insurance discounts from Farmers
The home insurance discounts Farmers offers make its rates more competitive with other insurance companies.
You usually get the biggest discount for bundling your homeowners policy with your car insurance. Getting an umbrella policy or any other insurance you may need adds to your savings.
Farmers’ other key discounts include:
- New home discount for homes less than 14 years old.
- Protective device discount for having a fire alarm, security system and/or internal sprinklers.
- Home safety discount for having disaster-resistant building features.
- Roofing material discount for approved asphalt or fiberglass shingles.
- Claims-free discount for not having claims within the past three years.
- Preferred payment discount for paying in full or setting up autopay.
- Green home discount if your home is LEED-certified.
Home insurance discount comparison
| Discount | Farmers | State Farm | Allstate | Liberty Mutual |
|---|---|---|---|---|
| Bundling | Yes | Yes | Yes | Yes |
| Military | Yes | No | No | No |
| Roof materials | Yes | Yes | No | No |
| Eco certification | Yes | No | No | No |
| New home | Yes | No | No | No |
| Home security | Yes | Yes | Yes | No |
What does Farmers home insurance cover?
Farmers offer several optional coverages that let you customize your coverage, along with all the normal coverages.
The most important extra protections include:
-
- Guaranteed replacement cost: Covers overruns if the cost of rebuilding your home exceeds your policy’s dwelling limit.
- Valuable items coverage: Provides enhanced protection for valuables like jewelry and silverware.
- Water backup and overflow: Pays for cleanup and repairs if your home’s sewer or drainage system backs up.
- Home sharing: Covers damage from tenants who rent your home through a short-term rental service.
- E-bikes and golf carts: Provides specialized protection for these vehicles.
Methodology
LendingTree obtains rates from public insurance company filings reported to Quadrant Information Services.
Car insurance rates are based on an analysis of quotes from every ZIP code in 27 states. Home insurance rates are based on quotes from 32 states.
Unless otherwise noted, our car insurance customer is a 30-year-old man with good credit and no tickets, accidents or DUIs. The sample vehicle is a 2015 Honda Civic EX.
Liability policies include the minimum car insurance coverages required in each state.
Full-coverage policies include:
- Bodily injury liability: $50,000 per person, $100,000 per accident
- Property damage liability: $25,000
- Uninsured motorist: $50,000 per person, $100,000 per accident, where required by law
- Personal injury protection: Minimum limits, where required by law
- Collision: $500 deductible
- Comprehensive: $500 deductible
Homeowners policies include:
- Dwelling coverage: $400,000
- Other structures: $40,000
- Personal property: $200,000
- Personal liability: $100,000
- Medical payments: $5,000
- Deductible: $1,000
Customer service ratings and reviews are from these sources:
- Auto customer satisfaction: J.D. Power 2023 U.S. Auto Insurance Study
- Home customer satisfaction: J.D. Power 2023 U.S. Home Insurance Study
- Home and auto complaint scores: National Association of Insurance Commissioners
- Home claims scores: J.D. Power 2024 U.S. Property Claims Satisfaction Study
- Auto claims scores: J.D. Power 2023 U.S. Auto Claims Satisfaction Study
All rates are shown for comparative purposes only. Yours may vary.