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LendingTree is compensated by companies on this site and this compensation may impact how and where offers appear on this site (such as the order). LendingTree does not include all lenders, savings products, or loan options available in the marketplace.

Farmers Car and Home Insurance Review (2024)

Published on:
Content was accurate at the time of publication.

Farmers is a good company if extra insurance protections are more important to you than price. Its rates are high. But Farmers offers several discounts that can make bundling your home and auto insurance affordable.

Find the Cheapest Car Insurance Quotes in Your Area

Pros

  High ranking for homeowners claims satisfaction

  Guaranteed replacement coverage available for homeowners

  Add-ons include new car replacement and accident forgiveness

  Generous discounts for bundling home, auto, and other policies

  Cheapest home insurance rates in Iowa and Montana

Cons

  Higher-than-average rates

  Gap insurance not available for car insurance

 

Farmers is a good company to contact for a quote if you plan to bundle your home and auto insurance. Its rates are higher than average in most states, and it gets mixed customer service reviews.

On the plus side, Farmers has an excellent rating for home insurance claims from J.D. Power. It also has a good home insurance complaint score from the National Association of Insurance Commissioners (NAIC).

Its wide network of exclusive agents makes it easy to get personalized service in most parts of the country.

However, Farmers’ overall satisfaction ratings are below industry averages for both home and auto insurance.

Farmers reviews and ratings at a glance

Review or ratingFarmers' scoreIndustry average
Overall Auto Satisfaction (Higher is Better)802 (Worse than Average)820
Overall Home Satisfaction (Higher is Better)800 (Worse than Average)819
Auto Complaint Rating (Lower is Better)1.25 (Worse than Average)1.0
Home Complaint Rating0.8 (Better than Average)1.0
Auto Claims Score (Higher is Better)878 (Average)878
Home Claims Score (Higher is Better)883 (Excellent)869
Financial Strength RatingA (Third-highest possible rating)N/A

Sources: J.D. Power, National Association of Insurance Commissioners, AM Best

Farmers charges an average of $1,188 a year, or $99 a month, for liability insurance. Its full-coverage rates average $3,091 a year, or $258 a month.

Farmers’ liability and full-coverage rates are both more than 50% higher than national averages.

Car insurance rates by company

CompanyLiability coverageFull coverage
State Farm$597$1,487
Geico$727$1,937
American Family$728$1,920
U.S. Average$773$1,972
Progressive$791$2,032
Travelers$835$1,919
Nationwide$963$2,226
Allstate$1,158$2,609
Farmers$1,188$3,091

Since rates vary by customer, it’s good to compare quotes from multiple companies when you shop.

Farmers’ rates are higher than national averages for drivers with a bad record.

For example, Farmers charges drivers with a speeding ticket $4,252 a year, or $354 a month. This is 75% higher than the national average.

Farmers’ rate for drivers with a prior accident is 57% higher than the national average. Its rate for drivers with a DUI is 31% higher.

Farmers’ car insurance rates for drivers with a prior incident

IncidentFarmers rateU.S. average
Speeding Ticket$4,252$2,427
At-fault Accident$4,598$2,930
DUI$4,758$3,626

How much does Farmers charge teen drivers?

Farmers car insurance rates are especially high for teenage drivers. It charges 18-year-olds an average of $4,227 a year, or $352 a month, for liability insurance. Its full-coverage rates for 18-year-olds average $9,354 a year.

Both rates are more than 60% higher than national averages.

Car insurance rates for 18-year-olds

CoverageFarmers rateU.S. average
Liability$4,227$2,433
Full coverage$9,354$5,824

Farmers offers several car insurance discounts that can bring its rates down to a more affordable level.

Like most companies, Farmers offers a generous discount for bundling your car insurance with your home or renters policy. Farmers also insures boats, motorcycles, ATVs, RVs and rental properties. The more policies you bundle, the more you save.

You can get another big discount if you sign up for Signal, Farmers’ app-based safe driver program. Once you download the app, it monitors your driving. If you drive safely enough, you get discounts on future renewals.

Some of Farmers’ other notable car insurance discounts include:

  • Affinity discount for people who work in certain fields, such as health care or education. The discount is also available to current and former members of the military.
  • Mature drivers over 55 can get a discount for completing a state-approved defensive driver class.
  • Homeowners discount just for owning your home, even if a different company insures it.
  • Anti-theft measures such as VIN etching can also get you a discount.
  • Young drivers who maintain a B average in high school or college can get a good student discount.

Car insurance discount comparison

DiscountFarmersState FarmAllstateGeico
BundlingYesYesYesYes
MilitaryYesNoNoYes
Safety AppYesYesYesYes
Defensive DriverYesYesNoYes
HomeownersYesNoNoNo
Good StudentYesYesYesYes

These discounts are not available in every state. Make sure to ask about these and other ways to save when you request a quote.

Farmers offers the same normal auto insurance coverages as most companies, plus a few valuable extras.

Its accident forgiveness coverage protects you from a rate increase after an at-fault accident. You have to avoid accidents for at least three years to qualify for the coverage.

Farmers also offers original equipment manufacturer (OEM) coverage. OEM pays to replace damaged parts with factory originals, instead of cheaper aftermarket parts.

Farmers’ other add-ons include:

  • Customized equipment: Pays to repair or replace custom wheels, sound systems, and other parts and accessories.
  • Loss of use: Covers rideshare and transit expenses, along with car rentals, while your car is in the shop. This gives you more flexibility than standard rental car reimbursement.
  • Full glass coverage: Pays to repair or replace your windshield and windows with no deductible.

Farmers charges an average of $3,801 a year, or $317 a month, for homeowners insurance.
Although this is 36% higher than the national average, its rates vary by state. In Iowa and Montana, Farmers has the cheapest home insurance rates.

CompanyAnnual rate
State Farm$2,427
Allstate$2,560
Progressive$2,648
U.S. average$2,792
Nationwide$3,055
American Family$3,072
Travelers$3,149
Farmers$3,801

The home insurance discounts Farmers offers make its rates more competitive with other insurance companies.

You usually get the biggest discount for bundling your homeowners policy with your car insurance. Getting an umbrella policy or any other insurance you may need adds to your savings.

Farmers’ other key discounts include:

  • New home discount for homes less than 14 years old.
  • Protective device discount for having a fire alarm, security system and/or internal sprinklers.
  • Home safety discount for having disaster-resistant building features.
  • Roofing material discount for approved asphalt or fiberglass shingles.
  • Claims-free discount for not having claims within the past three years.
  • Preferred payment discount for paying in full or setting up autopay.
  • Green home discount if your home is LEED-certified.

Home insurance discount comparison

DiscountFarmersState FarmAllstateLiberty Mutual
BundlingYesYesYesYes
MilitaryYesNoNoNo
Roof materialsYesYesNoNo
Eco certificationYesNoNoNo
New homeYesNoNoNo
Home securityYesYesYesNo

Farmers offer several optional coverages that let you customize your coverage, along with all the normal coverages.

The most important extra protections include:

    • Guaranteed replacement cost: Covers overruns if the cost of rebuilding your home exceeds your policy’s dwelling limit.
    • Valuable items coverage: Provides enhanced protection for valuables like jewelry and silverware.
    • Water backup and overflow: Pays for cleanup and repairs if your home’s sewer or drainage system backs up.
    • Home sharing: Covers damage from tenants who rent your home through a short-term rental service.
    • E-bikes and golf carts: Provides specialized protection for these vehicles.

LendingTree obtains rates from public insurance company filings reported to Quadrant Information Services.

Car insurance rates are based on an analysis of quotes from every ZIP code in 27 states. Home insurance rates are based on quotes from 32 states.

Unless otherwise noted, our car insurance customer is a 30-year-old man with good credit and no tickets, accidents or DUIs. The sample vehicle is a 2015 Honda Civic EX.

Liability policies include the minimum car insurance coverages required in each state.

Full-coverage policies include:

  • Bodily injury liability: $50,000 per person, $100,000 per accident
  • Property damage liability: $25,000
  • Uninsured motorist: $50,000 per person, $100,000 per accident, where required by law
  • Personal injury protection: Minimum limits, where required by law
  • Collision: $500 deductible
  • Comprehensive: $500 deductible

Homeowners policies include:

  • Dwelling coverage: $400,000
  • Other structures: $40,000
  • Personal property: $200,000
  • Personal liability: $100,000
  • Medical payments: $5,000
  • Deductible: $1,000

Customer service ratings and reviews are from these sources:

  • Auto customer satisfaction: J.D. Power 2023 U.S. Auto Insurance Study
  • Home customer satisfaction: J.D. Power 2023 U.S. Home Insurance Study
  • Home and auto complaint scores: National Association of Insurance Commissioners
  • Home claims scores: J.D. Power 2024 U.S. Property Claims Satisfaction Study
  • Auto claims scores: J.D. Power 2023 U.S. Auto Claims Satisfaction Study

All rates are shown for comparative purposes only. Yours may vary.