Unraveling The Truth Behind Farmers Insurance Rates

Farmers Insurance is one of the largest auto insurers in the country, offering standard coverage choices and a solid list of extras and discounts. However, Farmers Insurance is not cheap. Its annual average rates are the highest among large insurers, with a full-coverage policy costing $3,106 per year on average, over $1,000 above the national average.

Farmers Insurance's rates are especially high for young and senior drivers. For example, Farmers' sample rates for senior drivers are much higher than the national average: for a 60-year-old female driver, the rate is $2,683 annually (53% more than the national average) and for a 60-year-old male driver, the rate is $2,948 (63% higher than average).

While Farmers Insurance does offer a good selection of coverage options and add-ons, its high rates mean that those looking for the cheapest insurance rates are likely to find lower rates with another company.

Farmers Insurance offers a wide range of coverage options and add-ons

• Collision insurance
• Comprehensive coverage
• Emergency roadside assistance
• Rental car insurance
• Rideshare insurance
• Glass and windshield coverage
• Accident forgiveness
• New car replacement coverage
• Personal umbrella insurance
• Loss of use coverage
• Customized equipment coverage
• Uninsured and underinsured motorist coverage
• Medical payments coverage
• Personal injury protection
• Towing and roadside service
• Rental car reimbursement
• Original equipment manufacturer (OEM) parts coverage
• Full windshield and glass coverage
• Spare parts coverage
• Extended replacement cost coverage
• Guaranteed replacement cost coverage
• Building ordinance or law coverage
• Sewer and drain water damage coverage
• Scheduled personal articles coverage
• Identity theft coverage
• Extended replacement cost coverage
• Guaranteed replacement cost coverage
• Building ordinance or law coverage
• Sewer and drain water damage coverage
• Scheduled personal articles coverage
• Identity theft coverage

In addition to auto insurance, Farmers Insurance offers a full line of insurance products such as homeowners, renters, life, business, and general liability insurance. The company also provides insurance for motorcycles, recreational vehicles, and umbrellas, as well as financial products like mutual funds, annuities, and IRAs.

The company has a large network of local agents

Farmers Insurance has a large network of local agents, with more than 48,000 exclusive and independent agents and approximately 21,000 employees available across all 50 states. This means that customers can benefit from personalized service and support from a dedicated agent in their area.

Local agents are licensed professionals who can help customers understand their coverage options and ensure they have the protection they need. They can also assist with starting and managing the claims process, providing added support and peace of mind.

Farmers Insurance agents can be found in various cities and towns across the country, including Chicago, Palatine, and Columbia. Customers can use the company's website to search for agents by location or name.

The company's large network of local agents is a key advantage, providing customers with a more personal connection and a higher level of service.

Farmers Insurance is available in all 50 states

Farmers Insurance was founded in 1928 by John C. Tyler and Thomas E. Leavey. The company started as an auto insurance provider for farmers but has since expanded to become one of the largest insurers of vehicles, homes and small businesses in the country.

Farmers Insurance offers a wide range of insurance products, including auto, home, landlord, rental property, business, ATV, off-road, RV, mobile home, motorcycle, and pet insurance. The company also provides financial services such as mutual funds, IRAs, college savings plans, and annuities.

Farmers Insurance has a strong customer service focus and is known for its speedy claim process. The company has received positive reviews from customers, who appreciate the friendly agents and efficient claims handling.

In terms of pricing, Farmers Insurance is known for having higher-than-average rates for both home and auto insurance. The company offers a variety of discounts to help offset the higher costs, including bundling discounts, good driver discounts, and occupational discounts.

Overall, Farmers Insurance is a reputable and established company with a wide reach across the United States. The company's strong customer service, range of insurance products, and financial services make it a popular choice for many individuals and businesses.

The company offers a long list of discounts

Farmers Insurance offers a long list of discounts to its customers. The company provides a wide range of insurance products, including auto, homeowners, renters, life, business, and general liability insurance. In addition, Farmers Insurance has a variety of discount opportunities, especially for safe drivers, good students, and first responders. Here is a detailed list of the discounts offered by Farmers Insurance:

• Good driver discount: Customers with a clean driving record and no accidents or tickets for a specified period can avail of this discount.
• Homeowner discount: Homeowners are eligible for reduced rates on their car insurance.
• Multi-policy discount: This discount is applicable when bundling car insurance with other policies such as renters, homeowners, or life insurance.
• Good student discount: Students maintaining high grade averages are eligible for lower rates.
• Occupational discounts: First responders and other emergency workers like doctors, nurses, police officers, and firefighters can avail of this discount.
• Senior defensive driving discount: Drivers over 55 who complete an AARP online safety course are eligible.
• Alternatively fuelled vehicle discount: Electric vehicle owners can receive a discount on their auto insurance.
• Safety feature discount: Having safety equipment like daytime running lights and airbags can result in reduced rates.
• Multi-vehicle discount: Insuring more than one vehicle with Farmers Insurance leads to a discount on the combined policy.

It is important to note that the availability of these discounts may vary by state, and customers are advised to check with their local Farmers Insurance agent to determine their eligibility for specific discounts.

Farmers Insurance has a well-reviewed mobile app

Farmers Insurance has a mobile app that is well-reviewed by its customers. The app has a 4.8-star rating on the App Store and a 4.6-star rating on Google Play. It allows customers to manage their policies, review and pay bills, access ID cards, view policy documents, start and track claims, request roadside assistance, get quotes, and contact their agent.

The app also has a "Remember Me" feature, which can recognise a user's phone after they have signed in. This makes logging in hassle-free. The app also has Touch ID and Face ID capabilities.

One customer review on the App Store states:

> "I can’t begin to say how much I love having this app. At 7:45 last night my husband was suddenly in excruciating kidney pain. [...] Because I have this app I was able to turn [the accident] into insurance while I was in the waiting room—pictures and all."

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