Farmers Auto Insurance Review


Rating: 7 / 10 (Very good)
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Farmers Insurance provides many different types of insurance, including auto. Founded in 1928 and headquartered in Los Angeles, this company has not only grown to encompass six subsidiaries, but has also become a subsidiary, in and of itself, of the Switzerland-based Zurich Insurance Group.

How is Farmers rated?

Breakdown

7/10
Coverage & Benefits
7/10
Pricing and Discounts
7/10
Financial Strength
7/10
Customer Experience

Overall Rating: 7 / 10 (Very good)

Farmers Insurance's coverage, benefit, and discount options are all well within the average set by its competitors. From rental reimbursement to safe driver discounts, there is little in the fine print to set it apart. Where Farmers does excel, however, is with its low complaint ratio and solid market share. Its customer experience is excellent, which is then reflected in the company's financials.

Farmers Coverage

Basic Coverage

  • Bodily Injury Liability
  • Property Damage Liability
  • Collision
  • Comprehensive
  • Personal Injury
  • Medical Payments
  • Uninsured/Underinsured Motorist

Additional Coverage

  • Rental Reimbursement
  • Towing & Labor Cost
  • Glass

Coverage & Benefits - 7 / 10

As with many of its competitors, Farmers Insurance is directly within the industry average when it comes to coverage options. While towing & labor and rental reimbursement coverage are just a few of the add-ons it offers, its basic options are fairly standard, with medical payment coverage.

Customer Experience

National Association of Insurance Commissioners

NAIC Complaint Ratio 2016
0.7
NAIC Total Complaints 2016
49
*The NAIC Car Insurance complaint ratio (in this case 0.7) is a ratio of the number of complaints a company received to the its total premiums written in a calendar year. The median complaint ratio across all Car Insurance companies is 1. A score below 1 means the company received fewer than average complaints. A score above 1 means the company received a higher number of complaints than average.

Customer Ratings

BBB Rating
A+
Number of BBB Positive Reviews
3
Number of BBB Neutral Reviews
0
Number of BBB Negative Reviews
17
Date Collected
2017-11-10

Customer Experience - 7 / 10

As far as their customer experience goes, Farmers has a good reputation. They have a low NAIC complaint ratio and an A+ rating from the Better Business Bureau.

Financial Strength

Key Details

Premiums Written 2016
$10,304,622,153
Marketshare 2016
4.81%
AM Best Financial Rating
A
Standard & Poor's Financial Rating
A+

Financial Strength - 7 / 10

Since they underwrite their own policies, Farmers is in a good position in terms of its financial strength. Their strong ratings from AM Best and Standard & Poor's, coupled with their 4.81% marketshare, paints the company as a decently-performing provider of car insurance.

Pricing & Discounts

Discounts

  • Safe Driver
  • Student
  • Bundled Policy

Additional Discounts

  • Hybrid / Electric Vehicle
  • Group Savings (unions, etc)

Pricing and Discounts - 7 / 10

In comparison with its competitors, Farmers discount options are somewhat reduced. They do offer some, however, focused around safety, educational status, and group memberships. Of course, discounts are also provided for people holding multiple policies with the company.

Contact & Additional Information

Homepage URL
Company Phone
(800) 493-4917
Headquarters Address
6301 Owensmouth Avenue, Woodland Hills, CA, 91367
Year Founded
1928

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