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Farmers Auto Insurance Review

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Founded in 1928, Farmers Insurance offers a comprehensive range of insurance products, including automobile coverage. The company serves over ten million households in all 50 states. Headquartered in Woodland Hills, California, Farmers is a subsidiary of the Switzerland-based Zurich Insurance Group.
 
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How is Farmers rated?

Breakdown

4.0/5
Coverage
3.5/5
Financial Strength
0.0/5
Supplemental Coverage
4.0/5
Pricing & Discounts
3.5/5
Claims Satisfaction & Customer Experience
4.5/5
Automation

Overall Rating: 3.7 / 5 (Very good)

Farmers Insurance has been in business for nearly a century and serves more than 10 million households across the United States. While the company's coverage, benefit, and discount options fall pretty much in line with competitive offerings, many other insurers can't match Farmers' experience or financial strength.

Farmers stacks up well against the competition for reputation and customer service. The company is BBB-accredited with an A+ rating. And although the company has earned a significant share of the auto insurance market, complaints against it are relatively low.

Farmers operates through a vast network of licensed insurance providers who can provide personalized service as you shop for an auto policy. A licensed agent can both ask the right questions and provide you with the answers you need to find the best policy fit. But Farmers also offers policy shoppers the opportunity to get a quote and compare options online. Policyholders can file and track the progress of their claims and pay bills online or through the Farmers mobile app. We appreciate that Farmers allows customers to choose the customer service model that suits them best.

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 - 4 / 5

Farmers offers customers about as wide a range of auto coverage options as any large insurer, with the opportunity to further customize policies by adjusting policy limits and deductibles. In terms of specialized coverage, the company offers classic car enthusiasts appropriate coverage for their collectibles. If you insure more than one classic car with Farmers, you may qualify for a multi-classic car discount. Farmers also offers separate policies for golf carts and ATV vehicles, which is worth mentioning because having more than one policy with an insurer is another way to access discounts.

It's important to note that auto insurance policies are not one-size-fits-all. Inidviduals with high net worth may be wise to purchase a policy with higher liability coverage limits, for example. If you drive a very expensive car, you may want to consider carry a larger amount of uninsured and under-insured motorist coverage. That's where talking to an experienced and well-versed agent can come in handy. We consider Farmers' hundred-year history and large licensed agent network assets that some competitors don't bring to the table.

Customer Experience

National Association of Insurance Commissioners

NAIC Complaint Ratio
0.33
NAIC Total Complaints 2020
183

Customer Ratings

Trust Pilot Rating
2.7 out of 10
BBB Rating
A+
Number of BBB Neutral Reviews
0
Date Collected
2020-11-10
*The NAIC Car Insurance complaint ratio (in this case 0.33) compares a company’s performance to other companies in the market. The median complaint ratio across all car insurance companies is 1. A score below 1 means the company received fewer than the expected number of complaints. A score above 1 means the company received a more than the expected number of complaints.

Claims Satisfaction & Customer Experience - 3.5 / 5

Farmers is accredited by and earns an A+ rating from the Better Business Bureau. The company doesn't fare quite as well on Trustpilot, where it earns just 2.7 out of 5 stars. Insurance is one of those products that really raises really consumers' hackles and you will find a fair number of complaints about Farmers online. But very few of these complaints were escalated to the realm of the regulatory boards. While it has fairly high percentage of auto insurance market share, Farmers has a very low NAIC complaint ratio. That speaks well for the company.

In addition, Farmers serves over 10 million households with over 19 million policies. A little bit of math demonstrates that a large majority of customers liked the company well enough to purchase not just one, but two policies from them.

Financial Strength

Key Details

Premiums Written 2020
$10,304,622,153
Marketshare
2.98%
AM Best Financial Rating
A
Moody's Financial Rating
A2
Standard & Poor's Financial Rating
A+

Financial Strength - 3.5 / 5

Unlike many insurance carriers, Farmers underwrites its own policies. Basically, that means that Farmers is financially responsible for paying claims on the policies it sells. Smaller insurance companies are less likely to underwrite their own policies. That's why you should investigate the financial strength of the company that underwrites any policy you're considering and not just the reputation of the company whose brand name is on the policy. Farmers, as its own underwriter, is highly rated for financial stability by AM Best, Standard & Poor's, and Moody's.

Pricing & Discounts

Discounts

  • Safe Driver
  • Student
  • Bundled Policy

Additional Discounts

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

Pricing & Discounts - 4 / 5

Farmers offers many of the same auto insurance discounts as its competitors. Bundling multiple policies with one insurance company is a good strategy for lowering your insurance budget overall. Farmers, which has insurance products in many categories, gives customers lots of opportunities to save that way.

You can earn a 5% discount on your Farmers policy by downloading and using a safe-driving app called Signal.

Customers who are considering insuring their vehicles through Farmers may also want to investigate the company's Policy Perks program. While these are policy add-ons and may come with an additional fee, for some customers, they can wind up saving money down the road.

Contact & Additional Information

Homepage URL
https://www.farmers.com
Company Phone
(800) 493-4917
Headquarters Address
6301 Owensmouth Avenue, Woodland Hills, CA, 91367
Year Founded
1928

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Customer Comments & Reviews

Loading Reviews ...
dwerrell
10/12/2021
I had small not at fault accident. Farmers was no help to me .They simply said we wont subrogate ,accident was in a no fault state. I asked for arbitration and they said it was not worth it for them because it was too small amount money.

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