The Loyalty Of Georgians: Farmers Insurance's Stronghold In The Peach State

Farmers Insurance is a popular option for people in Georgia looking to protect their homes and vehicles. The company offers a range of insurance products, including home insurance and car insurance, to customers in the state. While the exact number of Farmers Insurance customers in Georgia is not publicly available, the company has a significant presence in the state, as evidenced by the range of insurance products it offers and the fact that it had to rescind tens of thousands of non-renewal notices to Georgia consumers in 2023.

Home insurance in Georgia

The average annual cost of home insurance in Georgia is $2,345, or $195 per month, for homeowners with good credit, no recent claims, $300,000 in dwelling and liability coverage, and a $1,000 deductible. Your rates will vary depending on your personal circumstances.

Home insurance policies in Georgia typically include:

• Property damage to your home and other detached buildings
• Contents and personal belongings coverage
• Additional living expenses if your home is uninhabitable
• Personal liability coverage if someone is injured on your property or you damage their property

Home insurance policies in Georgia generally do not cover:

• Motorized vehicles
• Losses from natural disasters like floods or earthquakes

You can usually buy separate coverage for these things.

When choosing a home insurance policy in Georgia, you should consider:

• The amount of coverage you need: The better your coverage, the less you will have to pay out of pocket if disaster strikes.
• The deductible: The deductible is the amount you have to pay out of pocket for each claim. A higher deductible can lower your premium.
• Replacement cost vs. actual cash value: You can choose to insure your home and belongings for replacement cost (the cost to replace or rebuild your home or repair damages with similar materials) or actual cash value (the cost to repair or replace damages after depreciation).
• Shopping around: You are not required to purchase insurance from the company your lender recommends. You can find out what different insurers charge by checking with your state insurance department, consumer publications, or your public library.

There are also several ways to save on your home insurance premium in Georgia:

• Compare quotes from multiple companies.
• Take advantage of discounts: For example, many companies offer discounts for protective devices like fire prevention systems or burglar alarms.
• Maintain your property: Home insurance companies may offer lower rates to homeowners with new roofs, as they are less likely to be damaged in a storm.
• Raise your deductible: A higher deductible can lower your premium, but make sure you choose an amount you would feel comfortable paying out of pocket in an emergency.

Car insurance in Georgia

Car insurance is mandatory in Georgia, and drivers must have two forms of liability insurance: bodily injury and property damage. The minimum coverage limits are as follows:

• Bodily injury liability: $25,000 per person and $50,000 per accident
• Property damage liability: $25,000 per accident

Uninsured motorist coverage and underinsured motorist coverage are also required in Georgia. Uninsured motorist coverage helps pay for your medical expenses if you're in an accident caused by an uninsured driver. Underinsured motorist coverage helps pay for your medical expenses if the at-fault driver doesn't have enough liability insurance.

In addition to the minimum requirements, drivers in Georgia can also opt for comprehensive and collision coverage, which protects against financial losses due to car accidents, theft, vandalism, or weather incidents. This is often referred to as full coverage.

The average cost of car insurance in Georgia is around $1,535 per year, which is slightly higher than the national average. However, the cost of insurance depends on various factors such as age, location, driving record, and the type of car.

Several insurance providers offer car insurance in Georgia, including Farmers, Mercury Insurance, GEICO, and Allstate. These companies offer various discounts and benefits to their customers.

Home insurance discounts

While I was unable to find the number of Farmers Insurance customers in Georgia, I can tell you about home insurance discounts.

Home insurance can be expensive, but there are many ways to save money on your premium. From installing security systems to bundling policies, insurers offer a variety of ways to qualify for home insurance discounts.

Customer-Related Discounts

• Retiree or senior citizen discount: Some insurance companies offer discounts to retirees and seniors who are over a certain age.
• Discount for specific occupations: Some insurance companies offer discounts to people in certain professions, such as teachers or firefighters.
• Military discount: If you're an active-duty or retired member of the military, you might qualify for a home insurance discount.

Policy-Related Discounts

• Multi-policy discount: One of the most common discounts. If you buy multiple insurance policies, such as home and auto insurance, from the same company, you could receive a discount for bundling these policies.
• Claims-free discount: If you haven't filed a home insurance claim in a set number of years, you might be eligible for a discount. Usually, you have to be claims-free for at least three to five years.
• Loyalty discount: Some insurers provide policyholders with loyalty discounts if they’ve been with them for a certain number of years.
• Payment method discount: Some insurers offer discounts if you set up automatic payments or pay the premium annually rather than monthly.
• Paperless statements discount: You may qualify for a discount by choosing to receive paperless statements.
• Discount for getting a quote in advance: Depending on the insurer, you might earn a home insurance discount for getting a quote days before purchasing a policy.

Home-Related Discounts

• Security systems discount: If your home has security features like burglar alarms or a monitored security system, you might be eligible for a discount.
• Home safety features discount: Installing deadbolt locks, reinforced windows, and sturdy roofing can help lower your insurance costs.
• Smart-home discount: Installing smart-home devices like video doorbells, window sensors, and smart locks can save you money on your premiums.
• Fire safety discount: Homes with fire-resistant materials, sprinklers, and fire extinguishers could qualify for discounts because they reduce the risk of fire damage.
• New or renovated home discount: Newer homes are generally considered less risky to insure because they have up-to-date construction. If your home is newly built or you've recently done significant renovations, you might qualify for a discount.
• Green home discount: If you’ve made environmentally friendly upgrades to your home, you could qualify for a discount. This includes having a LEED-certified home and Energy Star-rated appliances.
• Nonsmoker discount: Nonsmoking households have a lower risk of fire-related incidents, so insurers may offer discounts for not smoking inside your home.
• Location-based discount: Your home's location can also affect your insurance rates. Living in a safe neighborhood or gated community can lead to discounts.

Car insurance discounts

While I was unable to find the number of Farmers Insurance customers in Georgia, I can tell you about car insurance discounts.

Driver Safety Discounts

These reward drivers for their good driving habits. They make up a sizable chunk of consumer savings on car insurance. These are the most common discounts across insurance companies.

Defensive Driving Course

Drivers who take defensive driving lessons from a certified or registered school may qualify for a 10% to 15% discount on their liability, collision, and personal injury or medical payments coverages.

Accident-Free/Safe Driver

Companies like Allstate, Geico, and State Farm offer good driver discounts if you have been accident-free for three to five years. Safe driver discounts are given to motorists for conservative habits such as having all passengers wear seat belts, driving at low speeds, and less aggressive braking.

Driver Status Discounts

These are discounts that are based on the driver but not their driving habits. Whether your child is a good student or you served in the military, your personal profile can be key to saving money on car insurance.

Good Student Discount

For young drivers, car insurance rates are very high until they turn 25. But if they are a student with a B average, they can qualify for savings of up to 25% in the form of a good student discount.

Away-from-Home Student Discount

As a parent, you can save on your policy if your child driver leaves their car at home when they're at college, and the school is located more than 100 miles away from home.

Military and Federal Employee Discount

If you have served the United States through military or federal government employment, you can find companies that honor that contribution. Geico, for example, gives 8% to 15% discounts to active-duty service members, veterans, and retirees.

Policy Discounts

Policy car insurance discounts are based on your policy. You can alter your policy in certain ways so that you get specific discounts. Sometimes the discounts are automatically applied, and sometimes you have to request them.

Multi-Policy Discount

People with multiple assets to protect, such as auto and home, can save on their overall insurance costs by placing them with the same company. The bundle can come in many combinations, such as auto plus home, auto plus boat, and auto plus home plus umbrella policy. Each combination results in a different rate reduction. While the discounts are not necessarily equally applied across different insurance lines, companies give a range of 5% to 25% off the total auto insurance rate for bundling policies.

Paid-in-Full Reduction

Insurance companies encourage you to pay your entire six-month or annual rate upfront by giving you a discount of around 5% to 10%.

Vehicle Feature Discounts

If your car comes with certain features, such as an anti-theft device, VIN stitching, or anti-lock brakes, you may qualify for discounts.

Anti-Theft Car Insurance Discount

Having these devices and features may help provide drivers with peace of mind, deter actual theft, or help recover stolen vehicles. Motorists can save 5% to 15% on their comprehensive coverage.

Anti-Lock Brakes

Most insurance companies require a factory-installed anti-lock braking system (ABS) for a vehicle to qualify for this discount. As a result, this discount is usually automatically applied when you get a quote.

Passive Restraint

Passive restraint equipment includes front airbags and seat belts. Since 1983, all new cars have had passive restraint systems installed as standard, and companies give generous discounts of up to 30%.

Usage-Based Discount Programs

One increasingly common way to bring insurance rates down is through a usage-based insurance (UBI) program. Generally, you participate by downloading a driving tracking app or using a device that plugs into your car, and your insurance company adjusts your rates based on how often you do things like speed, start or stop suddenly, or swerve.

Home insurance coverage

I was unable to find the number of Farmers Insurance customers in Georgia. However, I can provide information on Farmers Insurance's home insurance coverage.

Your home is a significant investment, a haven where you create memories and live your life in safety and comfort. Farmers Insurance's home insurance is designed to help protect what matters most, wherever you call home.

Farmers Insurance offers a range of home insurance products to meet your specific needs:

• Homeowners Insurance: This covers single-family homes, duplexes, and up to four-family homes in some states. It includes property and liability coverage for damage caused by various perils, such as fires, lightning strikes, tornadoes, and break-ins.
• Condo Insurance: This covers your personal property and any parts of your condominium unit that are your responsibility, rather than the association's.
• Mobile and Manufactured Home Insurance: This insurance covers the unique risks and features of mobile and manufactured homes.
• Earthquake Insurance: This insurance covers damage caused by earthquakes, including structural repairs and temporary housing.
• Flood Insurance: This insurance is provided through the National Flood Insurance Program and covers homes damaged by floods.
• Second Home Insurance: This insurance is designed for seasonal and secondary homes, which may face different risks when they are unoccupied.
• Specialty Home Insurance: This includes coverage for landlord/rental properties, vacant homes, older homes, and other special circumstances.

Farmers Insurance also offers a range of coverage options within their home insurance policies. These options allow you to customize your policy to fit your specific needs:

• Guaranteed Replacement Cost
• Water Backup and Sump Overflow
• Emergency Mortgage Assistance
• Declining Deductibles

When choosing coverage limits for your homeowners insurance, it is important to consider your home's unique features, personal belongings, liability coverage, and additional living expenses that may arise.

Farmers Insurance provides quality home insurance with discounts and benefits. By bundling your auto and home insurance, you can save money on your overall insurance costs.

For Georgia specifically, Farmers Insurance offers a Farmers FlexSM Personal Home policy, which provides coverage for your home with various discounts. The average premium for home insurance coverage in Georgia is $1,362 per year, although costs may vary depending on factors such as the value and age of your home, the amount of personal property covered, and risks specific to your area.

Frequently asked questions