- Our thoughts on Farmers
- Where can you buy Farmers homeowners insurance?
- What does Farmers homeowners insurance cover?
- How much is Farmers home insurance?
- Farmers home insurance discounts
- What makes Farmers home insurance rates go up?
- Farmers vs. competitors: How does Farmers stack up?
- What do people ask about Farmers?
- Is Farmers a good homeowners insurance company?
Our thoughts on Farmers
Farmers homeowners insurance rates are higher than average, although costs vary from place to place.
“Insurance is a long-term commitment, and the overall quality, service, and trustworthiness of the company are just as important, if not more so, than the immediate cost,” says Siwei Gao, professor of insurance studies at Eastern Kentucky University.
Farmers homeowners insurance ratings have struggled somewhat. In 2023, Farmers dropped from third place on J.D. Power’s Property Claims Satisfaction survey to just below-average 7th place. It also landed well below average on the overall home insurance satisfaction survey.
Farmers ranked in 8th place on our best home insurance companies survey for 2024, below major competitors like Allstate and State Farm. However, our survey found that Farmers customers largely plan to renew with the company and rated it highly for claims handling. And Farmers has a solid financial rating with AM Best.
Overall: Farmers home insurance reviews could be better; it has some work to do on customer satisfaction. However, customers rate it highly for claims handling, which is the true test of an insurer.
Where can you buy Farmers homeowners insurance?
Although Farmers sells homeowners insurance in all 50 states and D.C., it recently pulled back some business in California and announced that Farmers-branded policies will not be available in Florida (although other Farmers Insurance Group companies still offer coverage).
| State |
|---|
| Alabama |
| Alaska |
| Arizona |
| Arkansas |
| California |
| Colorado |
| Connecticut |
| Delaware |
| Florida |
| Georgia |
| Hawaii |
| Idaho |
| Illinois |
| Indiana |
| Iowa |
| Kansas |
| Kentucky |
| Louisiana |
| Maine |
| Maryland |
| Massachusetts |
| Michigan |
| Minnesota |
| Mississippi |
| Missouri |
| Montana |
| Nebraska |
| Nevada |
| New Hampshire |
| New Jersey |
| New Mexico |
| New York |
| North Carolina |
| North Dakota |
| Ohio |
| Oklahoma |
| Oregon |
| Pennsylvania |
| Rhode Island |
| South Carolina |
| South Dakota |
| Tennessee |
| Texas |
| Utah |
| Vermont |
| Virginia |
| Washington |
| Washington D.C. |
| West Virginia |
| Wisconsin |
| Wyoming |
*Some state rates will vary based on the addition of a hurricane deductible and may be much higher when included.
What does Farmers homeowners insurance cover?
Farmers home insurance coverage provides everything included in a standard home policy. It covers all of the basics:
- Your house (dwelling coverage)
- Any detached structures on your property (other structures)
- All of the contents of your house (personal property)
- Extra bills incurred when you can’t live at home due to a covered loss (loss of use/additional living expenses)
- Damages or injuries to others caused by you or occurring on your property (personal liability and medical payments)
You can enhance your Farmers home insurance policy with endorsements like:
- Schedule personal property (high-value items)
- Increased loss of use
- Guaranteed replacement cost
- Building ordinance or law (cost to repair to new standards)
- Sewer and drain water damage (water backup)
- Identity Shield (identity theft coverage)
Farmers home insurance exclusions are standard to most home insurance companies:
- No coverage for floods and earthquakes (earthquake coverage can be endorsed).
- Coverage limits on certain types of personal property, like jewelry, fine art, musical instruments and sports equipment.
- No coverage for excluded perils like war and terrorism, nuclear hazards, animal and pest damage and water and sewer backup (unless endorsed).
How much is Farmers home insurance?
The average Farmers home insurance rate nationwide at the $300,000 dwelling coverage level is $3,194, with a $1,000 deductible. The amount of dwelling coverage has a much bigger impact on rates than the amount of liability coverage, as shown in the table below. Your Farmers home insurance quote will vary.
| Coverage level | Average annual rate |
|---|---|
| $200,000 dwelling, $100,000 liability | $2,323 |
| $200,000 dwelling, $300,000 liability | $2,351 |
| $300,000 dwelling, $100,000 liability | $3,162 |
| $300,000 dwelling, $300,000 liability | $3,194 |
| $400,000 dwelling, $100,000 liability | $3,937 |
| $400,000 dwelling, $300,000 liability | $3,969 |
| $600,000 dwelling, $100,000 liability | $4,927 |
| $600,000 dwelling, $300,000 liability | $4,965 |
| $1,000,000 dwelling, $100,000 liability | $6,177 |
| $1,000,000 dwelling, $300,000 liability | $6,222 |
Farmers home insurance discounts
Farmers offers a solid list of homeowners insurance discounts, the largest of which is the new home discount at 30%. But if you don’t own a new home, you can still combine several discounts for a better deal.
| Discount type | Average rate before | Average rate after | % discount |
|---|---|---|---|
| New Home | $3,194 | $2,221 | 30% |
| Insurance Score Alignment | $3,194 | $2,466 | 23% |
| Bundle | $3,194 | $2,925 | 18% |
| All Perils Deductible | $3,194 | $2,754 | 14% |
| Separate Wind-Hail Deductible | $3,194 | $2,740 | 14% |
| Age of home | $3,194 | $2,878 | 10% |
| Construction type | $3,194 | $2,966 | 7% |
| Sprinklers | $3,194 | $2,984 | 7% |
| Upgrades | $3,194 | $3,014 | 6% |
| Fire Alarm | $3,194 | $3,071 | 4% |
| Hail Resistant Roof | $3,194 | $3,058 | 4% |
| Advance Purchase | $3,194 | $3,086 | 3% |
| Burglar Alarm | $3,194 | $3,088 | 3% |
| Loyalty | $3,194 | $3,109 | 3% |
| Paid in Full | $3,194 | $3,099 | 3% |
| Water Safety System | $3,194 | $3,086 | 3% |
| Automatic payments | $3,194 | $3,122 | 2% |
| Claims Free | $3,194 | $3,167 | 1% |
| Deadbolt | $3,194 | $3,151 | 1% |
| Smoke Detector | $3,194 | $3,149 | 1% |
| Storm Shutter | $3,194 | $3,164 | 1% |
What makes Farmers home insurance rates go up?
Like all insurance companies, Farmers will increase your rates when the home has certain types of risk. Below are some common surcharges and how much they’ll cost you at Farmers.
| Reason | Average rate before | Average rate after | % increase |
|---|---|---|---|
| Age of home | $2,804 | $2,949 | 4% |
| Claims | $3,371 | $4,529 | 33% |
| Construction type | $2,983 | $3,261 | 8% |
| Home-Based Business | $3,252 | $3,749 | 20% |
| Smoker | $3,230 | $3,286 | 1% |
| Wood burning stove | $3,030 | $3,074 | 2% |
Farmers vs. competitors: How does Farmers stack up?
Farmers didn’t perform as well as top competitors in our survey, ranking lower in many areas. The company also has higher rates than many other companies, at least based on the nationwide average; it may be cheaper in your area.
| Company | Average annual rate | Customer satisfaction | Ease of service | Policy offerings |
|---|---|---|---|---|
| Farmers | $3,194 | 70% | 71% | 71% |
| Allstate | $2,098 | 83% | 82% | 81% |
| Progressive | $3,193 | 79% | 78% | 82% |
What do people ask about Farmers?
Home insurance can be confusing, and many people have the same questions. Below we’ve answered some common ones about Farmers.
Why is Farmers Insurance leaving California?
Farmers is one of several companies that have pulled back in California due to the increased risk of wildfires and the cost associated with them. The company has not entirely left the state but is limiting new policies.
How do I cancel my Farmers Insurance policy?
The easiest way to cancel a Farmers policy is to contact your agent. Alternatively, you can call the customer service line at 888-327-6335.
Why has my Farmers home insurance gone up?
Home insurance rates are increasing across the board as insurers respond to losses due to increases in severe weather. Farmers’ rates have gone up 48.7% since 2022, according to an S&P Global report – the second-largest increase among major carriers. However, rates still vary by location.
Is Farmers a good homeowners insurance company?
Farmers homeowners insurance reviews are mixed, and it’s important to remember that reviews are anecdotal. For everyone who had a negative experience with a company, some people had a good experience. Take a look below at how Farmers customers rated the company in several key areas; you’ll see that 87% plan to renew their policy – a good sign.
Do people trust Farmers?
Trust was a tough category across the board in our survey. Of the Farmers customers surveyed, 71% said they trust the company. Only two companies received scores in the 80s here.
Do people recommend Farmers?
It wasn’t the most recommended company, but a solid 82% of Farmers customers said they’d recommend the company to others.
Do people plan to renew with Farmers?
Most Farmers customers (87%) surveyed said they plan to renew their home insurance and stay with the company.
Is Farmers good at paying claims?
In the 2023 J.D. Power claims survey for home insurance, Farmers scored 873 out of 1,000, which is only one point below the industry average. However, as we previously noted, that’s a drop from the year before.
That said, the survey covers many aspects of claims, not just whether or not they were paid, so there’s no reason to be concerned that Farmers won’t pay a claim.
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