Farmers Home Insurance Review 2022

Farmers’ three tiers of home insurance coverage make its policies suitable for a variety of homeowners.
Apr 27, 2022

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Farmers home insurance is well suited for a variety of homeowners. Its coverage comes in three tiers, and its standard policy includes several money-saving features that help offset an annual rate that tends to be higher than that of its competitors.

Best for: Those seeking benefits like diminishing deductibles and claims forgiveness, included standard.

How we rate homeowners insurance companies

Our star ratings are based on consumer complaint data from the National Association of Insurance Commissioners; financial strength grades from AM Best; coverage and discounts available; and the overall consumer experience. See our criteria for evaluating home insurance companies.

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Farmers home insurance pros and cons

Pros

Cons

Several standard features can help save money.

Tends to be more expensive than competitors.

Less common coverage options are available.

Discounts for nonsmokers and certain professions.

How Farmers home insurance rates

4.0

NerdWallet rating 

Farmers homeowners insurance earned 4 out of 5 stars for overall performance. NerdWallet’s ratings are determined by our editorial team. The homeowners insurance scoring formula takes into account policy coverage options and discounts, ease of filing a claim, website transparency, the financial strength of the company, complaint data from the National Association of Insurance Commissioners and more.

State availability

Farmers home insurance is available in 41 states.

Farmers home insurance coverage

You can customize your homeowners policy with numerous add-ons, but below are the types of coverage that generally come standard:

Type of coverage

What it does

Pays to repair or rebuild the structure of your home.

Covers damage to unattached structures such as a shed or fence.

Pays to repair or replace personal belongings such as furniture or clothing.

Pays for hotel stays, restaurant meals or other expenses if you have to live elsewhere while your home undergoes covered repairs.

Covers legal expenses and damages if you're responsible for injuries to other people or their property.

Medical payments

Covers injuries to guests in your home, regardless of fault.

Farmers offers the standard types of home insurance coverage, as well as several optional features, including:

  • Eco-Rebuild, which provides up to $25,000 extra if you choose to rebuild a damaged part of your home with "green" materials.

  • Contents replacement cost coverage, to fully reimburse the cost of replacing a damaged or destroyed item rather than paying out a depreciated amount.

  • Identity theft coverage, which helps pay expenses associated with having your identity stolen.

  • Higher limit coverage for valuable personal items such as jewelry or art.

Farmers also offers two upgraded versions of its standard policy. The Enhanced package has higher policy limits than the standard, plus it covers the costs of replacing your roof or personal belongings with brand-new versions.

The Premier package goes a step further, offering higher limits on personal property coverage. In some cases, it also includes guaranteed replacement cost, which fully reimburses the cost of rebuilding your home regardless of your policy's limits.

Farmers home insurance rates

The average annual rate for Farmers home insurance is $2,066, according to a NerdWallet analysis. That means Farmers tends to be more expensive than the national average homeowners insurance cost of $1,784.

Here's how Farmers stacks up against other large national insurers when it comes to average rates:

Discounts

Farmers offers a few easy ways to save as part of its standard policy. Your insurance deductible declines each year you're with Farmers (up to a certain limit), and you automatically receive a discount if you’ve been claim-free for three or more consecutive years. Once you’ve hit the five-year mark without a claim, your rate won’t go up if you do have to file one.

Homeowners can also earn discounts from Farmers by:

  • Making home safety improvements like installing deadbolts on doors and strong locks on windows, or adding alarm systems that connect to local police and fire departments.

  • Not smoking for at least the past two years (in most states).

  • Bundling a home insurance policy with another Farmers product such as auto insurance.

  • Working in a designated profession such as teacher, doctor or firefighter.

Consumer complaints

Farmers had fewer than the expected number of home insurance complaints to state regulators relative to its size, according to three years’ worth of data from the National Association of Insurance Commissioners. (NAIC home insurance complaints also cover other home policy types, including mobile home, renters and condo insurance.)

Consumer experience

Website: The Farmers website allows users to get quotes and manage claims. It also offers a variety of educational content based on common insurance scenarios. It can be challenging, however, to find detailed policy information without directly contacting an agent.

App: The Farmers app is available for iOS and Android. You can use it to pay bills, view policy documents, report claims or get a quote for new coverage, among other features.

Homeowners insurance buying guide

You can get home insurance quotes online, over the phone or through an agent. But before you start, take the following steps:

  1. Determine how much coverage you need. Is a standard policy sufficient, or do you want to add extra insurance for situations like identity theft or sewer backups? Check whether each company you’re considering has the options you need.

  2. Take inventory. To ensure you have sufficient personal property coverage, take stock of your belongings. Include all furniture, electronic devices, clothing, jewelry and household items. How much would it cost you to replace them? This total is the minimum amount of personal property insurance you should have.

  3. Make a fair comparison. When evaluating rates, make sure each insurer is offering the same limits and deductibles.

  4. Check consumer complaints. Although it may seem tempting simply to choose the cheapest option, look at how many consumer complaints each insurer has before choosing a policy. Poor customer service could have a significant impact on your experience if you ever need to file a claim.

How to file a homeowners insurance claim

File as soon as it’s safe. The sooner you report a theft or damage to your home, the sooner your insurer can assign an adjuster and start working on paying out your claim. Some companies let you file claims online or through their app, while in other cases you may have to call your agent or insurer instead. Have your policy number handy.

Document the damage. Bolster your claim by taking photos or video of all damage. If something was stolen, report it to the police before you contact your insurance company. Your insurer may ask for a copy of their report.

Prevent further damage. After you’ve taken pictures of everything broken or destroyed, take steps to prevent additional damage. For example, you can put a tarp over a leaky roof or blown-out window. Keep receipts for any supplies you buy, as your insurer may reimburse you later.

For more information, see how to file a homeowners insurance claim.

Other home insurance companies to consider

Not ready to make a decision? You may be interested in these other homeowners insurance companies:

Frequently asked questions
What other types of insurance does Farmers offer?

Farmers offers several other types of insurance in addition to homeowners, including:

  • Auto.

  • Life.

  • Motorcycle.

  • RV.

  • Personal umbrella.

Learn more by reading our Farmers auto insurance review.

How can I get a Farmers home insurance quote?

Farmers offers home insurance quotes through its website, mobile app or by telephone.

Where do I submit a claim?

Farmers home insurance claims can be submitted digitally through the website, mobile app or live chat. Alternatively, you can report the claim by calling Farmers or your agent.

Methodology

Homeowners insurance ratings methodology

NerdWallet’s homeowners insurance ratings reward companies for customer-first features and practices. Ratings are based on weighted averages of scores in several categories, including financial strength, consumer complaints, coverages, discounts, online experience and more. Our “ease of use” category looks at factors such as website transparency and how easy it is to file a claim. These ratings are a guide, but we encourage you to shop around and compare several insurance quotes to find the best rate for you. NerdWallet does not receive compensation for any reviews. Read our editorial guidelines.

Insurer complaints methodology

NerdWallet examined complaints received by state insurance regulators and reported to the National Association of Insurance Commissioners in 2018-2020. To assess how insurers compare to one another, the NAIC calculates a complaint index each year for each subsidiary, measuring its share of total complaints relative to its size, or share of total premiums in the industry. To evaluate a company’s complaint history, NerdWallet calculated a similar index for each insurer, weighted by market shares of each subsidiary, over the three-year period. Ratios are determined separately for auto, home (including renters and condo) and life insurance.

Homeowners insurance rates methodology

NerdWallet averaged rates for 40-year-old homeowners from a variety of insurance companies in every ZIP code across all 50 states and Washington, D.C. Sample homeowners were nonsmokers with good credit living in a single-family, two-story home built in 1997. They had a $1,000 deductible and the following coverage limits:

  • $300,000 in dwelling coverage.

  • $30,000 in other structures coverage.

  • $150,000 in personal property coverage.

  • $60,000 in loss of use coverage.

  • $300,000 in liability coverage.

  • $1,000 in medical payments coverage.

These are sample rates generated through Quadrant Information Services. Your own rates will be different.

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