About Farmers:
With nearly a century in the insurance industry, Farmers, originally catering to farmers in California since 1928, now provides a diverse range of insurance products to the general public, including auto, home, renters, pet, and small business insurance.
Pros:
- High Customer Service Ratings: Policyholders consistently rate Farmers’ customer service highly.
- Satisfactory Claims Resolution: According to poll results, most customers are content with the efficiency of Farmers’ claims resolution process.
Cons:
- No New Policies in Florida (as of July 2023): Farmers ceased offering new auto insurance policies in Florida due to increased risks associated with hurricanes and natural disasters.
- Above-Average Annual Premiums: Farmers’ average annual premiums are higher compared to the majority of insurers in our rating.
- Likely to be Renewed Ranking: Farmers ranks 10th in our “Likely to be Renewed” subcategory.
Is Farmers Car Insurance Good?
Ranked tied for 6th in our 2023 Best Car Insurance Companies, Farmers, along with Travelers, Allstate, and AAA, has an average annual rate of $2,078, which is higher than most competitors. While it receives middling scores for policyholder satisfaction, it ranks lowest in terms of policy renewal likelihood.
Farmers Customer Service:
Farmers ranks midpack in customer service with a score of 4.2 out of 5, tying for the 4th spot with Travelers, Geico, and Nationwide.
Farmers Claims Handling:
Farmers excels in claims handling, tying for the 3rd spot with a score of 4.1 out of 5, surpassed only by American Family and USAA.
Farmers Customer Loyalty:
In customer loyalty, Farmers earns a score of 4.0 out of 5, tying for 6th place with Allstate, Nationwide, and Travelers.
Pricing Analysis:
- Average Annual Premiums: Farmers’ average annual rate of $2,078 is higher than most competitors, with only Allstate having a slightly more expensive average rate.
- Rates for Different Demographics: Farmers tends to be more expensive for teen and young adult drivers but becomes more competitive for adult and senior drivers.
- Rates After Incidents: Farmers generally has higher rates after incidents such as speeding tickets, accidents, DUI, and for drivers with poor credit.
Farmers Car Insurance Discounts:
Farmers offers various discounts, including safety and performance discounts, anti-theft devices, safe driver discounts, and additional discounts for bundling with other insurance products.
Farmers vs. the Competition:
- Farmers vs. Nationwide: Farmers ranks 6th, tied with Travelers, Allstate, and AAA, while Nationwide is 4th with lower average annual rates.
- Farmers vs. Progressive: Farmers ties for 6th with AAA, Allstate, and Travelers, being rated higher than Progressive overall, except in the category of likely policy renewals.
FAQ:
- Is Farmers Good Car Insurance? Farmers is ranked 6th in our 2023 Best Car Insurance Companies, with notable strengths in claims handling.
- Who Should Get Farmers Car Insurance? Those who prioritize efficient claims handling may find Farmers suitable; however, it has higher-than-average rates and lower customer satisfaction in policy renewal.
- Where Can I Get Farmers Car Insurance? Farmers does not currently offer car insurance policies in specific states, including Alaska, Delaware, Florida, Hawaii, Maine, New Hampshire, Rhode Island, Vermont, Washington D.C., and West Virginia.
- How Does Farmers Compare to Other Car Insurance Companies? While Farmers has strengths in certain areas, its higher-than-average premiums and lower customer loyalty scores may make it less competitive in some aspects when compared to other insurers.
