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Farmers Insurance is the 6th largest auto insurance company in the country with almost $10 billion premiums written in 2014. With a company of that size, there are a ton of details that go along with it. Rest assured, we’ve researched and analyzed the ins-and-outs of Farmers insurance to provide you with all the information you need to know before you get a quote from an auto insurance company. We are not affiliated with Farmers in any way, so you can be confident this review is based solely on facts.
What Do You Want to Know More About?
- The Pros And of Farmers Auto Insurance
- If Farmers Offers Coverage Near You
- How Much Farmers Auto Insurance Costs
- Farmers Discounts
- How Farmers Ranks In The Industry
- What Customers Think About Farmers
- Our Favorite Farmers Features
- Our Recommendation For You
What kind of coverage does Farmers offer?
Farmers offers the standard types of insurance coverage such as liability coverage, collision coverage, and comprehensive coverage, along with many optional insurance products and features, such as:
- Gap Insurance
- Roadside Assistance
- Medical Payments Coverage
- Rideshare Insurance
- Motorcycle Insurance
- Insurance for Recreational Vehicles
What are the benefits?
- The Farmers® Rewards Visa® Card is a unique credit card only available to Farmers policyholders. It rewards customers with points that you can redeem for statement credits, travel, and more. As of June 2015, it was only available in Ohio, New Jersey, and Washington, but it’s a great incentive that’s a standout compared to what other companies offer.
- Lots of discounts such as distant student, homeowners, incident forgiveness, and more are available to give you better rates.
- No rate hikes for small claims/fender benders. If you get into a small accident, you won’t have to worry about the stability of your premium.
- Incident forgiveness will pardon you from a rate hikes if you get a speeding ticket, but no claim is filed.
What are the drawbacks?
- Accident forgiveness is an option you have to add and it isn’t available in all states.
- Limited Coverage. Not all policy options are available in every state.
- The 21st Century acquisition could disrupt service for auto policyholders in Washington D.C..
Where does Farmers Insurance have the most customers?
Market share is a fancy way of saying what percentage of customers a company has compared to competitors. Farmers ranked in the top ten insurance companies for highest market share in 34 states. The following states are the most popular for Farmers insurance and show the percentage of insured people who are covered by its policies. Here are its top states, percentage of drivers it insures, and the sheer number of policies it writes:
| State Rank | New Policies Written | Market Share | |
|---|---|---|---|
| California | 2 | 2,757,902 | 12.66% |
| New Mexico | 2 | 151,984 | 13.03% |
| Oklahoma | 2 | 298,736 | 12.90% |
| Oregon | 2 | 275,677 | 12.05% |
| Colorado | 3 | 306,408 | 9.20% |
| Idaho | 3 | 78,782 | 10.68% |
| Texas | 3 | 1,646,063 | 10.09% |
| Utah | 3 | 173,338 | 11.79% |
| Wyoming | 3 | 44,364 | 12.55% |
| Arizona | 4 | 355,820 | 9.42% |
| Minnesota | 4 | 231,435 | 7.48% |
| Montana | 4 | 67,476 | 11.06% |
| Hawaii | 5 | 54,864 | 8.24% |
| Illinois | 5 | 297,868 | 4.72% |
| Kansas | 5 | 127,405 | 7.99% |
| Nevada | 5 | 182,119 | 9.91% |
| South Dakota | 5 | 23,465 | 5.12% |
| Missouri | 6 | 187,849 | 5.92% |
| Washington | 6 | 344,572 | 8.22% |
| Arkansas | 7 | 82,503 | 5.13% |
| Florida | 7 | 458,306 | 3.15% |
| Alabama | 8 | 76,815 | 2.91% |
| North Dakota | 8 | 16,890 | 3.82% |
| Wisconsin | 8 | 74,968 | 2.82% |
| Alaska | 9 | 6,567 | 1.47% |
| Delaware | 9 | 19,077 | 2.60% |
| Indiana | 9 | 81,576 | 2.63% |
| Nebraska | 9 | 41,215 | 3.98% |
| New Jersey | 10 | 204,796 | 2.94% |
| Pennsylvania | 10 | 141,826 | 1.87% |
| Tennessee | 10 | 74,801 | 2.22% |
How much are Farmers auto insurance quotes?
We analyzed rates for a variety of driver profiles by insurance providers in all 50 states. Our research shows that while Farmers is a more expensive option for teen drivers, it becomes more competitively priced for drivers once they turn 25. Out of the five auto insurance companies we compared it to, we also found it has the cheapest rates for married drivers in their 60s. Take a look at our research below:
| Single, 18 Year-Old Female | Single, 18 Year-Old Male | Single, 25 Year-Old Female | Single, 25 Year-Old Male | Married, 35 Year-Old Couple | MARRIED, 65 Year-Old Couple | |
|---|---|---|---|---|---|---|
| FARMERS | $2,423.91 | $2,759.71 | $1,029.02 | $1,102.65 | $1,285.20 | $954.60 |
| ALLSTATE | $2,300.53 | $2,500.58 | $1,525.23 | $1,177.18 | $1,364.00 | $1,361.62 |
| NATIONWIDE | $2,262.28 | $2,623.48 | $1,647.23 | $1,787.71 | $1,413.56 | $1,925.35 |
| PROGRESSIVE | $3,473.81 | $4,052.43 | $2,141.45 | $1,706.16 | $959.32 | $1,405.36 |
| STATE FARM | $2,726.88 | $2,619.03 | $1,165.25 | $1,494.26 | $1,318.71 | $1,345.46 |
| TRAVELERS | $3,410.62 | $3,983.35 | $1,021.40 | $927.24 | $1,054.00 | $1,376.82 |
For Farmers to quotes you accurately, it will look at a number of factors, including your age, sex, and marital status. We used rates from states across the country to give you an idea of how much you may pay based on your driver profile. These rates are only taking on variable into consideration. For example, we found that drivers in their 50’s may pay up to 27% less than drivers in their 20’s–but that is only looking at age and not how your gender or marital status.
| Driver Profile | Average Annual Rate |
|---|---|
| Teen Drivers | $2,535.95 |
| Drivers in Their 20's | $1,594.17 |
| Drivers Over 50 | $1,158.97 |
| Married Drivers | $1,417.27 |
| Single Drivers | $1,926.68 |
* These are real numbers from 2014 and 2015, but are subject to change in the coming months or years. They are only here to show you how carriers stack up against each other.
What Farmers auto insurance discounts are available?
These discounts can save you money on your insurance premium.
- Student Discounts for good grades and kids that are far away at school
- Multi-Policy Discounts for bundling an auto insurance policy with homeowners insurance or life insurance
- Safety Discounts for air bags, daytime running lights, car alarms, and other devices
- Mature Drivers Discounts for experiences drivers
- Safe Driver Discount, available in certain states for those with a clean driving record
How does Farmers Insurance ranks in the insurance industry?
You’re only as good as your financial standing and customer reviews. That’s why we’ve taken a hard look at two of the most reputable business rankings: J.D. Power and Weiss Ratings. See for yourself how Farmers is doing financially and on a customer satisfaction level.
Weiss Rating: By studying 11,000+ financial companies and using a letter system to grade their financial standings, Weiss Ratings can give you a good indication on the financial stability of a company. Grades B+ to A+ are for the best companies and scores of D+ and lower are for the weak companies.
Farmers got a B+ for financial strength in its Weiss Rating. This means it has a positive financial outlook and the strength to back your claims should you ever need to file one.
JD Power: By surveying customers and analyzing extensive data based on a set of categories, JD Power provides you with an inside look into customer satisfaction. Here is how Farmers did in its 2015 insurance studies:
Source: www.jdpower.com
Source: www.jdpower.com
What Real Customers are Saying
“My favorite thing about Farmers Insurance is definitely the customer service.” -Tupou
“I can call my Farmers agent anytime day or night if I have an emergency. If I have a question I can text and get a same day response. If I have a change to my policy, a quick email gets my change in place within a hour. WOW!” -Vanesssa
“Farmers is quick to respond to claims.” -Patrick
What are the best features?
- Farmers Inner Circle is a resource center full of helpful articles that educate drivers about insurance and how to handle milestones in your life.
- The Farmers mobile app gives you access to your policy wherever you and your smart device are. You can pay your premium, contact agents, and more.
- No fault, no foul forgiveness. If you aren’t at-fault in an accident, your rates won’t go up.
- Repair shop network. If you need to have work done on your car, you can use a pre-approved shop to get a better rate and quicker claims process.
- Delivery replacement cars. If you need another vehicle, Farmers will bring one to you. This is an extremely convenient policy we haven’t seen with many other companies.
- A youth driving safety education program is available to parents and their teens.
What do we recommend?
We’re not you, so we can’t say what’s the best choice when it comes to auto coverage. What we can do is to give you the facts so you can make the most informed decision and get the best policy.
Farmers is nest for new and experienced drivers.
Since Farmers has a number of forgiveness options, its insurance coverage is ideal for people who make a mistake now and again. Because teen drivers are statistically more likely to find themselves in an accident, Famers is a good choice although it is more expensive.
Farmers Insurance is also a great choice for experienced drivers. It’s the cheapest for experienced drivers when comparing it to other top providers and can help you save.
About Farmers
Farmers® Insurance was founded in 1928 with the mission to provide auto insurance to farmers. Today, Farmers Insurance has grown to serve 10 million homes and support 20 million policies throughout all of America.
Need something to compare Farmers to?
Check out other popular auto insurance companies so you know you’re making the right choice.