Farmers Homeowners Insurance Review 2023
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Farmers Insurance was initially founded with farmers in mind, as its name suggests. Local farmers pooled their money throughout the year to pay for unexpected equipment failures, accidents, and more, understanding that the same insurance would be available to all members in need. Nearly 100 years later, the company's homeowners insurance and other offerings have expanded to include various insurance products for all Americans. However, you don't have to be in agriculture to take advantage of the company's decades of experience and insurance products.
Farmers protects pets, ATVs, homes, businesses, and more. Policies provide robust coverage, and customers appreciate working directly with an agent. But coverage is only available in select states, and the price might be higher than average.
Here's a complete review of coverage options, pricing, customer reviews, and the claims process.
Types of Homeowners Insurance Plans from Farmers
At the time of this review,
Depending on your state, you can upgrade your policy to Farmers Flex or Smart Home Plan. However, policy upgrades vary by state. Standard coverages typically include the following:
- Dwelling coverage: If your home is damaged or destroyed, this part of the policy pays for repairs. A Farmers agent will run a replacement cost estimate to determine how much you need to rebuild your home after a total loss. Many insurers also offer riders to add a little extra coverage to account for unexpected increases in repair costs. If you're unsure, talk to your Farmers agent.
- Personal property coverage: This covers the belongings in your house in case they are damaged, stolen, or destroyed in a covered event. The average single-family homeowner should consider at least $300,000 in coverage. However, you may want more based on your square footage. Personal belongings add up quickly.
- Liability coverage: If you're at fault for an injury or other incident on your property, this part of the policy can help protect you. Dog bites, broken stairs, and trampolines are among familiar sources of liability, but it offers a broad umbrella.
- Additional living expenses coverage: This kicks in if your home becomes temporarily uninhabitable. What that means depends on your insurer. So even if you think it's obvious, talk to your Farmers agent about your situation. It will allocate extra money for rent, hotel costs, takeout, and more.
Additional coverage options
Additional coverage options vary by state, but these optional riders are available to many Farmers customers.
- Extended replacement cost: If the cost to rebuild your home exceeds your policy coverage, this optional policy will pay up to 25% more. A good example would be if an earthquake destroys your home. All your neighbors would file claims simultaneously, and the higher demand drives up prices. This rider accounts for that to eliminate roadblocks to getting your home repaired.
- Water backup and sump overflow: This coverage pays for damage due to water backup or overflow. A leaky washer or burst pipe is the most common, but it should not be skipped. Most homeowners pay a few dollars each month to save thousands if they ever have to file a claim.
- Emergency mortgage assistance: If you can't live in your home during repairs or a rebuild, this policy covers three months of mortgage payments, up to $10,000.
- E-bikes and golf carts: You can add this rider if you need coverage for e-bikes and golf carts. All state and local laws should be followed for registration and otherwise.
- Special items: Personal property covers everyday items like couches, tables, clothing, etc. However, some people have single high-value items like collectibles, art, fine jewelry, etc. You'll want a special items rider to cover specific items in these instances. An appraisal should be obtained when possible. Then, keep your appraisal and documentation in a fireproof box.
Farmers homeowners insurance coverage is comparable to other large, reputable insurance providers. The main difference is that Farmers is among those standardizing cost replacement coverage for personal belongings and extended cost coverage for your home.
In short, it pays you for the current market value (cost to purchase new items) rather than the depreciated value of your property. But availability for extra coverage varies by state. So you'll need to speak with an agent or request an online quote to confirm your eligibility.
How Much Does Farmers Home Insurance Cost?
The national average cost of homeowners insurance is $1,272. However, you can expect to pay more in some areas and if you want additional coverage. Every homeowner is different. So it's critical to get at least three quotes to compare pricing. An agent can make sure you're comparing similar policies. This way, you can avoid giving up key coverages for a lower price. Here are a few standard discounts from Farmers:
- Policy bundle discount
- Home Buyer Discount
- Multi-Policy Discount
- Claim Free Discount
- Fortified Home Discount
- Wildfire Mitigation Discount
How to File A Claim
Farmers offers three options to file a claim: online, over the phone, or with a representative. Regardless of your choice, the process should take about five minutes. After you file a claim, you can monitor everything in its online claims management portal.
- Call the claims center: If you prefer to file a claim over the phone with a representative, you can call 1-800-435-7764. You'll connect with a claims specialist to walk you through the process and file the claim during the call.
- File a claim online: You can file a claim online by answering a few questions. The process only takes a few minutes. Just log into your account and navigate to the claims section in the app or online.
- Chat with a representative: If you need help filing a claim and would prefer to talk with someone via chat, you can do so on the company's website. You can also contact your agent for assistance if you get your quote through a nearby licensed insurance agent.
Farmers Homeowners Insurance FAQs
How do I find a Farmers insurance agent?
You can select your insurance agent, which might be a nice perk if you enjoy working one-on-one and want to create a long-standing relationship. To find an agent, you can search by name or location on Farmers' database.
Is Farmers good at paying claims?
JD Power's most recent
What do customer reviews say about Farmers home insurance?
Customer experiences with Farmers homeowners insurance vary. There are glowing reviews for individual agents, but some customers are frustrated by the claims process.
On TrustPilot, Denise Feller speaks highly of her experience working with her agent. She says, "We have always had a great agent, but now we have the best. [Our agent] has met our every need. Plus, he gives us great advice!"
But in the Better Business Bureau, Teresa B. shares, "I have filed a claim for water damage, and my claims adjuster has not been of much help. Just spoke to her one time for her to get the information regarding the damage…after that conversation, I have been trying to get hold of her through [voicemail] and email, but no response."
What is the phone number for Farmers Insurance?
If you need help, contact your Farmers insurance agent or customer care at 888-327-6335. The phone line is open Monday through Friday from 7:00 a.m. to 11:00 p.m. CST. The hours are 8:00 a.m. to 8:00 p.m. CST on Saturday and Sunday. The Claims Center is open 24 hours a day, seven days a week. In addition, you can reach the claims department at 800-435-7764.
Methodology: What Went into Our Farmers Homeowners Insurance Review
While creating this review, we considered the following: coverage options, customer reviews, discounts, available riders, pricing, and availability. We compared Farmers home insurance to reputable insurance providers like Allstate, Progressive, and State Farm.
We also considered new InsurTech providers like Lemonade and Hippo to create an unbiased review of Farmers home insurance. You can also learn more about Insider's insurance rating methodology.
Compare Farmers vs. Hippo
Farmers offers a variety of ways to file claims and connect with a representative. Hippo provides a claims phone line, but its phone-based resources are limited. More importantly, it does not have live agents near you. The reviews so far are mixed, and Hippo does not have the financial stability and established reliability of a company like Farmers. The good news is it's cheaper for many consumers.
Compare Farmers vs. Allstate
The primary difference is that Farmers might standardize replacement cost coverage while Allstate charges extra. Replacement cost coverage helps account for inflation and ensures you'll receive the cost to replace an item instead of how much you paid. However, Allstate is known for having a lot of discounts. So the final price with all coverages and discounts could still favor Allstate.
Allstate is available in all 50 states, while Farmers is only available in 41 states. So no matter where you move within the United States, Allstate can stay with you.
Compare Farmers vs. Travelers
Home insurance options for Farmers and
The primary difference is that Travelers offer more riders. But even though Farmers has fewer choices, the Extended Replacement Cost policy is a valuable option. Similarly to Farmers, coverage isn't available in every state, and customer reviews are mixed. If you're looking for solid, no-frills coverage, a homeowners insurance policy from either company will likely deliver. The deciding factor might be whether or not coverage is available in your state.