Introduction
Farmers Insurance was started in 1928 with the aim of delivering insurance at a reasonable price. Rural farmers were the first insurance customers. Today, Farmers operates in all 50 states and is No. 6 in size for private passenger auto insurance.
Farmers Car Insurance Comparison for Good Drivers
Compared to the other largest auto insurers, Farmers car insurance rates for good drivers are on the high end, based on national averages. Our analysis found the lowest average rates from Geico car insurance, among the insurers we evaluated.
Farmers Car Insurance Comparison for Drivers With a Speeding Ticket
The national average Farmers car insurance rate goes up almost $500 for drivers with a speeding ticket. Here too Farmers’ rates are on the high end compared to top competitors. Geico and State Farm average rates are substantially lower.
Farmers Car Insurance Comparison for Drivers Who Caused an Accident with Injury
Causing injury to someone else in a car accident is a serious issue, and insurance rates after an accident often reflect that. Farmers auto insurance rates go up an average of over $1,500 for drivers who have caused an accident with an injury. Our analysis shows Farmers’ rates to be high in this category, with better deals likely available from State Farm car insurance and Geico.
Farmers Car Insurance Comparison for Drivers With a DUI
Farmers car insurance rates for drivers who have a DUI conviction are in the middle of the pack among its top competitors, based on average national rates for the companies. State Farm came in with lowest average national rates in this category.
Farmers Car Insurance Comparison for Drivers With a Poor Credit
The average Farmers rate for a driver with poor credit is about $1,340 more than a driver with good credit. That may seem like a bargain compared to State Farm’s $2,450 average difference between a good credit and poor credit driver. Still, Farmers is again in the middle of the pack compared to other large insurers.
Farmers Car Insurance Comparison for Drivers Caught Without Insurance
Driving uninsured generally makes you a much less appealing customer when you go to buy an auto insurance policy. You can still shop around for the best rates if you have a lapse on your insurance record. Our analysis of average national rates found Farmers to be more expensive than Geico, State Farm and Progressive.
Car insurance complaints against Farmers in 2020 were higher than its top competitors, and even higher than the industry average. Allstate clocked the lowest level of complaints. Considering Farmers’ consistently high average car insurance rates and its high level of complaints, insurance shoppers should look at other options.
Farmers’ Grade from Collision Repair Professionals: C
In a survey of collision repair professionals by CRASH Network, Farmers got a C grade.
The survey was based on the opinions of auto body professionals. They see insurers’ claims processes, the use of lower-quality repair parts and whether insurers encourage the use of repair procedures recommended by car makers.
About Farmers Car Insurance
Farmers Insurance sells coverage for cars, off-road vehicles, motorcycles, motorhomes, boats and more. For those who enjoy camping or relaxing by the beach, Farmers also offers travel trailer and 5th wheel trailer insurance. Optional coverage types include:
- Towing and roadside service
- Rideshare
- Loss of use
- Customized equipment
- Rental car reimbursement
- Spare parts
- Glass deductible buyback
- Full windshield and glass coverage
- Original equipment manufacturer (OEM) parts
For new car owners, Farmers offers new car replacement coverage. With this option, Farmers Insurance will pay to replace your car with a new car of the same make and model if it’s totaled, as long as it’s within two model years old and has less than 24,000 miles on it.
For drivers who are concerned about a rate increase due to an at-fault accident, Farmers Insurance sells accident forgiveness. If you go three years without an accident, your premium won’t increase because of one accident.
And, for those who own a classic or collectible car, Farmers Insurance sells guaranteed value coverage which will pay you the value of your car if it’s considered a total loss.
How the Farmers Signal Program Works
The Farmers Signal usage-based insurance program can earn you discounts on your car insurance in lots of different ways. You’ll get a 5% discount just for signing up. Each time your policy renews you’ll save as much as 15% for your safe driving. And finally you can save an additional 10% for enrolling drivers in your household who are under age 25 into the Signal program.
You’ll download the Signal app, have your driving habits monitored and you will receive a score for your driving. Good driving means good scores and savings.
You’ll also be eligible for up to $100 in rewards each month for keeping your focused driving score at 80% or higher.
Farmers Rideshare Insurance
For rideshare drivers such as Uber and Lyft drivers, there’s an important gap in auto insurance coverage to address. Your personal auto insurance coverage may not cover you when you’re logged into the company’s app and waiting for new riders. And the rideshare company’s full liability policy won’t kick in until you accept your ride.
The only coverage you will get when waiting for new riders is some limited liability coverage from the rideshare company. This may cover medical expenses and damages you cause others but it won’t cover your own injuries or damage to your car. Farmers Rideshare insurance fills this gap in coverage, giving you insurance protection for when you’re logged in but haven’t accepted new riders.
Farmers Car Insurance Discounts
Farmers Insurance offers several discounts, especially for good drivers. Other discounts include:
- Good student discount: If you have a full-time high school or college student under age 25 with good grades, you could be eligible for a discount.
- Home and auto discount: When you bundle your home and auto insurance with Farmers Insurance, you could qualify for a discount.
- Multi-car discount: If you have more than one car on an auto policy, you could receive a discount.
- Alternative fuel discount: You can save up to 5% on all major coverages for driving a hybrid or other alternative fuel vehicle.
Farmers Homeowners Insurance
Farmers Insurance sells homeowners, condo, mobile and manufactured homes, and renters insurance. If you own rental properties or a vacation home, Farmers Insurance sells vacation home and landlord coverage.
Optional coverage types include identity protection, personal article floaters and contents replacement cost coverage. If you want to “go green” when you rebuild due to damages from a fire, Farmers Insurance eco-rebuild coverage will pay up to $25,000 when you replace appliances and materials with green alternatives.
If you live in an area that’s prone to natural disasters, Farmers also sells both earthquake and flood insurance.
Farmers Insurance offers ways for homeowners to save. You can get discounts when you enhance the safety of your home by installing security systems or fire alarms and choosing not to smoke. Similar to the auto insurance discounts offered by Farmers, you can purchase multiple policies to receive a discount as well. You might be eligible for other discounts based on your state and occupation.
More Insurance from Farmers
Farmers Insurance also offers business insurance, life insurance and umbrella insurance.
In addition to insurance policies, Farmers Insurance sells a variety of financial products such as mutual funds, annuities, IRAs and college savings plans.
Farmers Insurance Mobile Apps
In addition to the Farmers Signal app, there’s the Farmers mobile app. This app helps customers quickly access and manage their insurance policies:
- Manage payment options
- View policy documents
- Report a claim
- Request roadside assistance
- Connect with an agent
- Get a quote
- Report a claim
- Enroll in electronic delivery
- Receive notifications on important account information
A Brief History of Farmers Insurance
One year before the Great Depression, John C. Tyler and Thomas E. Leavey started Farmers Insurance in a small one-room office in downtown Los Angeles. What began as an auto insurance company for farmers has now become a multi-company insurer and financial services group. Now Farmers serves over 10 million households with more than 19 million individual policies across all the nation.
In 2018, Farmers launched Toggle, a brand that focuses on renters and provides digital renters insurance.
Farmers’ Charitable Causes
One of the main ways Farmers Insurance gives back is by putting its philanthropic efforts into disaster relief.
Through helping communities enhance their preparedness, response and recovery, Farmers Insurance helps communities reduce the impact and risks of natural disasters. As part of these efforts, Farmers Insurance partners with nonprofits including SBP, Team Rubicon, Operation BBQ Relief and National First Responders Fund.
Methodology
To find average car insurance rates nationwide, we used rates from Quadrant Information Services, a provider of insurance data and analytics. Rates are based on a female driver with a clean record insuring a Toyota RAV4 with $100,000 in bodily injury liability coverage per person, $300,000 per accident and $100,000 in property damage liability, uninsured motorist coverage and any other coverage required in the state. The rate also includes collision and comprehensive with a $500 deductible.
Source: https://www.forbes.com/advisor/car-insurance/farmers-car-insurance-review/
