Farmers Insurance Review

Farmers offers bundle discounts of up to 20% on combined home and auto policies, along with three Smart Plan tiers of home coverage, called Standard, Enhanced, and Premier. These options give bundlers more flexibility than most major competitors. Each tier features different roof replacement, personal property limits, and depreciation values and specifics.

The company also offers bundling discounts for combining renters and auto policies. Base premiums typically run above the national average, and savings depend heavily on qualifying for multiple stacked discounts, including the Signal telematics program.

Who It’s Best For / Not For

Who Farmers is best for:

• Homeowners who want guaranteed roof replacement or extended replacement cost coverage
• Renters bundling with auto to consolidate billing and discounts
• Drivers in Signal-eligible states who are comfortable with usage-based tracking
• Households that can bundle multiple policies for larger savings
• Customers who prefer working with a local insurance agent

Who should consider other options:

• Shoppers focused only on the lowest possible starting premium
• Drivers living in states where Signal discounts are unavailable

Key Facts

Farmers Financial Strength

Farmers holds an AM Best financial strength rating of A (Excellent), which indicates a strong ability to pay claims over time. The company manages more than 50 million policies, making it one of the largest property and casualty insurers in the United States. Its size and long history help support its reputation for long-term stability.

Farmers Insurance Reviews: Editorial Rating

Trusted Company Reviews Rating Score for Farmers: 9.5

Farmers earns a 9.5 rating based on our scoring criteria. This represents the highest score in our overview of the best home and auto bundle companies. The score reflects the company’s strong savings opportunities when bundling, a wide selection of coverage options, and its nationwide availability. Higher-than-average starting prices and mixed customer satisfaction scores prevented an even higher rating.

Key scoring drivers:

• Farmers earns the Highest Bundle Savings & Overall Value score among the carriers in our review.
• Its Strong Coverage Options & Customization score is due to its multiple home coverage choices.
• The company scores slightly lower in Customer Experience & Claims Support score compared to other top competitors.

How Farmers scored on each weighted attribute:

What Makes Farmers Different? A Look at the Smart Plan Tiers

Most major insurers offer a single home insurance package and allow customers to add endorsements. Farmers divides its Smart Plan Home product into three packages with real coverage differences built in, instead of having to choose from a list of add-ons.

Standard

The entry tier covers your home, other structures, and personal belongings against named perils, plus personal liability and loss-of-use coverage if a covered event forces you out of your home. It’s designed for those who want core protection without paying for high-end features.

Enhanced

Enhanced builds on Standard with extended replacement limits and pays to replace your roof or damaged contents without deducting for depreciation. In practice, that means a hail-damaged roof or destroyed appliances are replaced at today’s prices, not the depreciated value of what you had.

Premier

Premier carries the highest personal property and liability limits and includes Guaranteed Replacement Cost on your home and full guaranteed roof replacement. If your house costs more to rebuild than your policy limit, Premier covers the difference.

Shared across all three tiers:

• Declining Deductible: $50 comes off your deductible every claim-free year you stay with the company.
• Claim-free discount: 10% off after three consecutive claim-free years. Applies to both home and auto policies.
• Claim forgiveness: After five consecutive claim-free years with Farmers, a single home claim won’t trigger a rate increase.

Features and Benefits

Beyond the tier structure, a Farmers Insurance home and auto bundle can include:

• Signal usage-based driver program provides a 5% automatic discount at signup, scaling to 15% at renewal based on your driving data.
• Auto claim forgiveness is available after three years with no at-fault accidents or violations.
• Specialty endorsements, including identity theft protection, rideshare driving coverage, personal umbrella, and valuable articles, are available.
• Stackable auto discounts, such as multi-vehicle, safe driver, good student, and protective device, can help lower premium costs.
• Local agent support is available in all 50 states for claims help and policy adjustments

Bundle Combinations Available With Farmers

Farmers’ bundle savings extend well beyond the classic home and auto pairing. The carrier supports a wide range of multi-policy combinations across its product lineup, and many qualify for stacked multi-line discounts of up to 20%.

Full Insurance and Financial Services Lineup

Farmers offers a broad product lineup spanning personal property and casualty, life insurance, financial services, and small business coverage. Households that consolidate multiple lines under one carrier often unlock added convenience and stacked discounts.

Property & Casualty

• Auto, motorcycle, off-road, and motorhome.
• Homeowners (Standard, Enhanced, Premier), renters, condo, and manufactured home.
• Boat and personal watercraft.
• Landlord, rental dwelling, and specialty home (vacation, vacant, seasonal, older property).
• Personal liability umbrella.
• Identity theft and personal articles endorsements.

Life Insurance

• Term life insurance.
• Whole life insurance.
• Universal life insurance.
• Indexed universal life insurance (available in most states; excluding New York).+

Financial Services

• Mutual funds through Farmers Financial Solutions.
• Annuities (fixed and variable).
• Investment and retirement planning products.
• 529 college savings plans through affiliated providers.

State Farm also offers small business coverage for policyholders who own or operate a business.

Pricing & Value

Farmers usually charges more than average for standalone home and auto insurance. However, its bundling options and other potential discounts can significantly reduce the price gap.

• Standalone premiums are often above national averages.
• Bundling discounts of up to 20% can significantly reduce combined costs.
• Signal telematics and additional discounts can further lower auto premiums.
• Customers who combine several discounts will see the greatest savings.

Farmers Customer Reviews

Farmers Insurance received mixed customer feedback reports on major review platforms.

Positive reviews often mention specifics, such as helpful local agents and flexible coverage options. Negative reviews often cite rising premiums at renewal and slower claims processing than some competitors for more complex claims.

Farmers holds Better Business Bureau ratings ranging from A- to A+, depending on location. At the same time, J.D. Power studies place the company slightly below the industry average for overall customer satisfaction in recent years.

Common Complaints

• Premium increases at renewal
• Slower claims processing in some situations
• Discount eligibility varies by state
• Mobile app lacks some features offered by some competitors

How Farmers Compares

Farmers vs State Farm: Farmers offers more flexible home coverage tiers, while State Farm consistently scores higher for claims satisfaction and has the larger agent network.

Farmers vs Allstate: Farmers leads in overall bundle savings potential at up to 20%, while Allstate’s Drivewise telematics can stack higher additional auto savings of up to 40%.

Farmers vs Nationwide: Farmers offers higher bundle discounts, while Nationwide’s broader policy lineup, including life, pet, and RV, suits households combining more than two policy types.

Farmers Insurance Alternatives

While Farmers stands out for flexible coverage choices and strong bundle savings, it’s not the only insurer worth considering. Some of its closest competitors have better claims service ratings, while others offer more policy combinations or higher discount stacking potential.

Comparing alternatives in our overview of the best home and auto insurance bundles can help you find the right fit for your budget, coverage needs, and savings goals.

• State Farm: Best for customer service and claims satisfaction, with the largest agent network in the country.
• Allstate: Strong option for households that stack multiple discounts, including Drivewise telematics savings.
• Nationwide: Good fit for bundlers combining home, auto, pet, RV, motorcycle, or umbrella policies under one company.
• Travelers: Best for long-term financial strength and customizable coverage add-ons with strong telematics savings potential.

Should You Choose Farmers?

Farmers is worth considering for households that want flexible home coverage tiers, plan to bundle home and auto, and are willing to use telematics to maximize savings. It’s less competitive for shoppers focused on base premium cost or top-rated claims satisfaction.

Final Verdict

Farmers ranks highest in our review of the best home and auto insurance bundling companies based on bundle savings potential, coverage tier flexibility, and discount stacking opportunities.

Base premiums run above average, and the savings depend on qualifying for multiple discounts, including Signal telematics. For households that bundle and actively engage with available discounts, the math often works in Farmers’ favor. For those focused on base premium costs or claims satisfaction, other carriers in our review may be a better fit.

Frequently Asked Questions

Source

https://www.farmers.com/insurance-bundling/, https://www.farmers.com/insurance/, https://www.farmers.com/discounts/, https://www.farmers.com/umbrella/, https://www.farmers.com/home/specialty/, https://www.policygenius.com/homeowners-insurance/reviews/farmers/, https://wallethub.com/answers/ci/farmers-multi-policy-discount-1000060-2140755927/

About Author

Deane Biermeier