Farmers Insurance

• High Financial Strength Ratings
• Fast Quoting Process
• Good Insurance Product Options
• Renters Insurance Discounts

High Financial Strength Ratings

Farmers Insurance has earned high financial strength ratings that show its financial stability and likelihood to be able to meet its claims obligations.

These ratings are important because you'll want your insurer to be able to make claims payments if you ever have to file one.

Quoting Process

Farmers makes it extremely easy to get a renters insurance quote. To start the process, you'll will need to give some basic personal information, such as your name and address.

Next, Farmers will ask about the place of residence - is it an apartment complex, home, duplex, single-family home, or manufactured home? Farmers will also need to know if you have roommates or one of you runs a business from home.

Upon entering that information, Farmers will determine (and adjust) their property and liability coverage.

The entire process should only take around two to three minutes and should update your monthly premium if you make changes to your insurance policy.

The ability to quickly view insurance rates online is a nice benefit of working with Farmers.

Good Insurance Product Options

Farmers's renters insurance includes liability, personal property, and relocation costs. Liability coverage includes damage to others' property and medical payment coverage if someone is injured on your property.

The inclusion of relocation costs makes Farmers's policies stand out.

Like other insurers, you can add personal articles floaters to your policy to cover specific, expensive items. Adding these items may increase your insurance cost.

You can also add optional coverage for stolen electronics and identity theft. Including these coverage options can also affect your renters insurance rate.

Renters Insurance Discounts

Many residents are eligible for the following discounts on a renters insurance policy:

• Multi-Policy Discount — qualify to save when bundling renters with auto, life, or umbrella policy
• Non-Smoker Discount — Famers offers a special incentive for households that have been smoke-free for at least two consecutive years
• Security System or Fire Alarm Discount — customers may qualify for discounts if there is an approved electronic security system or fire alarm

• Billing Fees
• Minimal Customer Insight
• Limited Policy Specifications Online

Billing Fees

Those with automatic bank payments who are not enrolled in the paperless billing option will be charged a maximum service charge of $2 (as allowed by state law).

Those who are paying their monthly premiums with automatic credit or debit card payments will be charged a maximum service charge of $5 (as allowed by state law) per account per installment/month.

Additionally, Farmers Insurance charges a $10 late fee if a payment is not received by the due date.

Minimal Customer Insight

Farmers has a small number of reviews on BestCompany.com, which means we cannot make a full recommendation based on the customer experience.

However, Farmers Insurance is well-established in the industry and has good coverage options and discounts.

Limited Policy Specifications Online

Farmers only offers general information about its renters insurance policies on its website.

For further information, you'll need to work with a Farmers agent or reach out to the company directly another way.

Other insurers offer more information about exclusions and policy options, like including replacement cost coverage instead of actual value coverage.

While this lack of information can be frustrating if you're in the research stages or prefer to do everything online, Farmers Insurance is still a good insurance provider to work with.