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Farmers Homeowners Insurance Review (2024) | U.S. News
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Farmers Insurance is no longer writing new policies in Florida.
Drivers can get a quote online or work with a local agent.
This insurer offers standard home insurance coverage options, along with six add-ons for added protection.
Farmers Insurance offers several insurance products, including home, vehicle, life, business, and more. The company writes policies in around 42 states; however, in July of 2023, it announced that it would no longer offer homeowners insurance policies to residents of Florida.
If you want a company that offers easy online quotes, nearly 15 discount options, and a resource center to learn more about insurance, Farmers Insurance may be a good choice.
Farmers also offers many other financial products you could benefit from, including mutual funds, college savings plans, IRAs, variable universal life insurance, and annuities. Also, if you work at a company or are part of an association that partners with Farmers Insurance, you can receive a discount on your auto, home, and umbrella insurance.
Pros:
Online quotes are available
Offers nearly 15 discount options for customers
Has an extensive online resource center for homeowners
Cons:
Not available in all states
Scored below average in J.D. Power’s customer satisfaction survey
Farmers Insurance could be a good choice if you are looking for a company that offers an easy online quote process. This insurer also has vast resources on its website to teach you about homeowners insurance coverage, what may or may not be covered in your policy, and more.
The company may also be an option for those who want to bundle their policies (i.e., home and auto). Farmers offers several insurance product options, including pet insurance, motorcycle insurance, and insurance for vacation homes and landlords.
Also, if you would rather work locally with a Farmers Insurance agent, you can easily find one on its website. The company also has a mobile app, allowing you to easily manage your policies on the go and at your convenience.
Typically, your homeowners insurance will cover damage to your home and additional structures, including damage caused by lightning, fire, explosions, windstorms, and more. Farmers Insurance offers four main types of coverage, including:
Dwelling
Dwelling coverage helps pay for repairs to your home if it is damaged or needs to be rebuilt due to a covered cause.
Personal property
If your belongings inside your home are damaged, personal property coverage will help cover the cost to fix or replace them.
Liability
If you, your family members, or pets are at fault for an injury to someone else or cause property damage away from your home, your liability coverage will help cover the costs.
Additional living expenses
If you need to live somewhere else while your home is being repaired or rebuilt, this coverage can help pay for rent, food, and other living expenses.
Farmers Insurance offers six add-on options to supplement your homeowners insurance, including:
Extended replacement cost
If your home needs to be rebuilt but will cost more than your policy covers, it is a good idea to have extended replacement cost coverage. Farmers Insurance will pay up to 25% above the original policy limit with this add-on.
Guaranteed replacement cost
This add-on will guarantee that the full cost of your home repair is covered, even if you go above the limits on your policy.
Building ordinance or law
With this add-on, you’ll be covered for damages that are required to be repaired according to laws and building ordinances, even if that specific item wasn’t damaged during the covered incident. For example, you may need to upgrade the electrical panel in your kitchen after a fire.
Sewer and drain water damage
If your home suffers water damage after a sewer or water backup from a drain or sump, this add-on will help cover the cost.
Scheduled personal articles
This will give you more coverage for valuable personal items, including firearms, silverware, and jewelry.
Identity shield
Farmers Insurance gives you access to professional services if you have your identity stolen.
Farmers Insurance offers nearly 15 discounts for homeowners insurance customers, including the following.
Affinity
If you are a member, employee, or retiree of a specific business, occupational group, or professional association, you may receive a homeowners insurance discount through Farmers.
Multi-policy
You might save on your premium if you bundle your homeowners insurance with other policies, such as auto, life, or umbrella.
ePolicy
If you enroll in Farmers’ ePolicy and accept the terms of “Go Paperless”, you may receive a discount on your policy.
UL-approved roofing materials
If your home’s roof is made with asphalt or fiberglass shingles approved by Underwritten Laboratories (UL), you may qualify for a discount.
New home
You may be eligible for a discount on your premium if your home is less than 14 years old.
Protective devices
You can receive a discount on your homeowners insurance policy by installing fire alarms, security systems, and internal sprinklers.
Home safety
Farmers may offer a discount if you have windows, walls, a roof, or foundation designed to stand up against natural disasters. You can also save if you have automatic gas or water shutoffs.
Green certifications
The following green certifications can lead to a discount on your policy:
ENERGY STAR
LEED
EPA
Claim-free
If you are claim-free for three consecutive years, you could qualify for a discount on your premium.
Connected home
You may receive a discount if you have a smart home system that allows you to control and monitor it remotely. However, this discount is not available in all states, nor can it be bundled with the protective devices, home safety, or green certifications discount.
Rent to own
If you have a renters insurance policy through Farmers for over a year and then purchase a home, you may receive a discount when you convert to a homeowners policy.
Preferred payment or EFT
You can receive this discount if you do one of the following:
Pay in full.
Pay your premium in two installments.
Sign up for a monthly payment plan with autopay.
Good payer
You may be eligible for a discount if you regularly pay your bill on time.
Getting a quote is the first step to buying homeowners insurance from Farmers. You can receive a quote online or use the “Find a Farmers Agent” button to locate an agent near you. Speaking with an agent can help you determine the coverage you need and what would benefit you most. Once you have a quote that works for you, you can continue securing coverage.
Once you’re ready to get your quote, follow these steps:
Decide if you want to talk to a local agent or get a quote online. Then, visit the Farmers website to locate an agent or begin the quote process.
Be prepared to provide details about the property, including age, roof type and age, foundation type, and distance to the nearest fire station or hydrant.
Provide your insurance history, including any claims you’ve made and your current insurance details.
Once you’ve provided all the required information, Farmers will give you a quote and help you purchase a policy.
Farmers Insurance may be a good choice for your homeowners insurance policy, but it depends on your current needs and budget. This insurer offers multiple discount options, online quotes, local agents, and several coverage add-ons.
However, if you live in Florida, this isn’t the right homeowners insurance company for you. Farmers recently pulled out of the state due to the increased risk of natural disasters like hurricanes.
Along with homeowners insurance, Farmers Insurance also offers the following insurance products:
Auto insurance: Farmers Insurance offers comprehensive, collision, liability, and more. You can also bundle your car and homeowners insurance policies.
Renters insurance: Renters insurance will help cover the cost of your personal belongings in the case of a fire, flood, or other disaster.
Landlord and rental property insurance: This can help with loss of rent, personal property coverage, personal injury, and other structures if you own a rental property.
Business insurance: Farmers Insurance offers coverage for business property, liability, crime, auto, workers’ compensation, umbrella, and life insurance, along with loss control.
Motorcycle insurance: It offers three packages revolving around liability, collision, and comprehensive coverage.
Umbrella insurance: This can increase your limits beyond what’s typically covered with auto and homeowners insurance coverage.
It also offers pet insurance, rideshare insurance, and other financial products.
There are several ways to contact Farmers Insurance. You can log into your online account to send a message or call between 7 a.m. and 11 p.m. CST, Monday through Friday, and 8 a.m. to 8 p.m. CST, Saturday and Sunday.
If you need to contact the company regarding a claim, you can call the claims center 24/7. It also offers customer service options in Spanish.
To file a homeowners insurance claim with Farmers, you can call the company directly, contact your local agent, start the process online, or use the mobile app.
Follow these steps to file your claim:
File a police report. If there has been any criminal damage, such as theft or vandalism, contact the police.
Contact Farmers. Start the claims process as soon as possible. You can visit the Farmers website or mobile app, contact your agent, or call the Farmers Claims team.
Document the damage. Take photos and video of damage where possible. Remember to check the footage from any security cameras you may have.
Make urgent repairs. If you can do so safely, try to prevent any further damage. Keep receipts for any purchases or work you paid for.
Speak with a claims representative. A representative will contact you to review the details and process the claim. You can follow the progress online or using the mobile app.
At U.S. News & World Report, we rank the Best Hospitals, Best Colleges, and Best Cars to guide readers through some of life’s most complicated decisions. Our 360 Reviews team draws on this same unbiased approach to rate the products that you use every day. To build our ratings, we researched more than 15 homeowners insurance companies and insurance agencies and analyzed 11 reviews from both professionals and consumers. Our 360 Reviews team does not take samples, gifts, or loans of products or services we review. All sample products provided for review are donated after review. In addition, we maintain a separate business team that has no influence over our methodology or recommendations.
When you use our links to buy products, we may earn a fee but that in no way affects our editorial independence.
