Farmers Home Insurance Review 2024

Farmers home insurance coverage may suit a variety of homeowners.
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Written by Sarah Schlichter
Lead Writer
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Assigning Editor
Fact Checked
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Co-written by Kayda Norman
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Farmers

4.0

NerdWallet rating 
Those seeking policy add-ons like diminishing deductibles and claims forgiveness may want to consider Farmers.

Coverage options

About average

Discounts

Great set of discounts

NAIC complaints

Fewer than expected

Farmers

4.0

NerdWallet rating 
Those seeking policy add-ons like diminishing deductibles and claims forgiveness may want to consider Farmers.

Coverage options

About average

Discounts

Great set of discounts

NAIC complaints

Fewer than expected

About Farmers home insurance

4.0

NerdWallet rating 

Farmers homeowners insurance earned 4 out of 5 stars for overall performance. Farmers offers a range of ways to customize your policy, including an option that can prevent your rate from going up after a claim. Although Farmers’ premiums tend to be higher than those of its competitors, the company has a long list of discounts for policyholders to take advantage of.

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.

Our writers and editors follow strict editorial guidelines that ensure fairness and accuracy to help you choose the financial products that work best for you. Here is a list of our partners, and here’s how we make money.

Where Farmers stands out

Unique coverage options. Farmers offers a variety of ways to customize your policy, including perks like claim forgiveness and coverage for a roof upgrade after a disaster.

Many discounts available. Most homeowners are likely to find at least one way to save on their premium.

Where Farmers falls short

Rates. It’s a good thing Farmers has a lot of discounts because its rates tend to be higher than those of competitors.

Customer satisfaction. Farmers was ranked lower than average for customer satisfaction in J.D. Power’s 2023 U.S. Home Insurance Study.

State availability

Farmers home insurance is available in 41 states.

Availability may change at any time. Coverage may not be available to all homeowners in a given state.

Coverage

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

  • Dwelling. Pays to repair or rebuild the structure of your home.

  • Other structures. Covers damage to unattached structures such as sheds or fences.

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

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

  • Personal liability. 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 also offers many optional features and perks, including:

  • Personal property replacement cost coverage, which will fully reimburse the cost of replacing a damaged or destroyed item rather than paying out a depreciated amount.

  • Extended or guaranteed replacement cost coverage, which pays an additional percent of your dwelling coverage if your home is destroyed and the cost to rebuild is more than your current policy.

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

  • Scheduled personal property coverage for valuable personal items such as jewelry or art.

  • Personal injury coverage, which can protect you if someone sues you for slander, libel or invasion of privacy.

  • Equipment breakdown coverage pays to fix or replace HVAC or large appliances if they stop working for reasons beyond typical wear and tear.

  • Homeshare coverage, which offers extra protection if you rent your home to others.

  • Ordinance or law coverage pays to bring your home up to building codes when you’re repairing or rebuilding it. This may be included at no additional cost in some states for up to 10% of your dwelling coverage limit.

  • Service line coverage, which pays for damage to utility, electric or water lines.

  • Water backup or sump pump failure coverage, which applies if sewer lines or sump pumps back up and cause water damage to your home.

  • Claims forgiveness, which means your rates won’t increase because of a claim if you’ve been claim-free for at least three years.

  • Declining deductibles take $50 off your deductible each year you have a Farmers home insurance policy.

  • Fortified roof upgrade, which pays to replace a damaged roof with stronger materials.

  • Emergency mortgage assistance, which can make mortgage payments on your behalf for up to three months if your home is left uninhabitable after a covered disaster.

Did you know...

Most homeowners insurance companies, including Farmers, will not cover damage to your home from flooding. If you live in an at-risk area, you may want to consider buying separate flood insurance.

Rates

The average annual rate for Farmers home insurance is $2,415, according to a NerdWallet analysis. That means Farmers tends to be more expensive than the national average homeowners insurance cost of $1,915.

Among highly rated, large national insurers, Farmers is one of the more expensive options on average for homeowners insurance. Here’s how the insurers stack up:

Company

Average annual rate

$1,815

$1,935

$2,010

$2,205

$2,270

$2,415

$1,875

*USAA homeowners insurance is available only to active-duty military members, veterans and their families.

The sample rates above are for 40-year-old homeowners with good credit, a $1,000 deductible, $300,000 in dwelling coverage and $300,000 in liability insurance. Your rates will be different.

Did you know...

One of the biggest factors in how much you pay for homeowners insurance is the amount of coverage you buy. Get too little coverage, and you could find yourself underinsured after a major disaster. Get too much, and you’ll overpay. Here’s how to figure out how much homeowners insurance you need.

Discounts

Depending on where you live, you may be able to earn a discount from Farmers by:

  • Making home safety improvements like installing fire alarms and extinguishers, indoor sprinklers and security systems.

  • 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 or retiring from a designated profession such as a teacher, doctor or firefighter.

  • Agreeing to go paperless.

  • Owning a new home (less than 14 years old).

  • Paying in full or signing up for automatic payments.

  • Consistently paying homeowners insurance bills on time.

  • Installing a smart home system.

  • Having a roof made from UL-approved asphalt or fiberglass shingles.

  • Fortifying your foundation, windows, walls or roof against natural disasters or installing automatic gas or water shutoffs.

  • Having a green certification from the U.S. Green Building Council's Leadership in Energy and Environmental Design, or LEED, rating system, Energy Star or the Environmental Protection Agency.

  • Renting to own. Available to current renters policyholders when they buy a home and get a Farmers home insurance policy.

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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.

Consumer experience

Website: The Farmers website allows users to get quotes and manage claims, and it features educational content based on common insurance scenarios. It can be challenging, however, to find detailed policy information without 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.

Claims: Farmers home insurance claims can be submitted through the website or mobile app. You can also report a claim by calling Farmers at 800-435-7764 or contacting your agent. For advice, see how to file a home insurance claim.

Customer service: You can contact customer service at 888-327-6335 from 7 a.m. to 11 p.m. Central time weekdays and from 8 a.m. to 8 p.m. CT on weekends. Farmers has a live chat for policyholders who are logged into the website.

The bottom line

Farmers offers generous coverage and many discount options in most states, making it well worth considering for many homeowners.

Farmers vs. competitors

Farmers vs. State Farm home insurance

The primary difference between Farmers and State Farm homeowners insurance is how much their policies cost. State Farm homeowners insurance was more than $400 cheaper per year than Farmers' average policy, according to NerdWallet’s rate analysis.

Otherwise, the companies have a lot in common. They’re two of the largest homeowners insurers in the country, and their policies are available in most U.S. states. Both offer a variety of other ways to customize your homeowners policy.

Current Product

Farmers Home Insurance
State Farm Homeowners Insurance
NerdWallet rating 

4.0

/5
NerdWallet rating 

4.5

/5

Complaints to NAIC 

Fewer than expected

Complaints to NAIC 

Fewer than expected

Coverage 

About average

Coverage 

More than average

Discounts 

Great set of discounts

Discounts 

Average set of discounts

Bottom line 

Those seeking policy add-ons like diminishing deductibles and claims forgiveness may want to consider Farmers.

Bottom line 

Well-established insurer with a lengthy list of coverage options.


Farmers vs. Allstate home insurance

The biggest difference between Farmers and Allstate home insurance is how often consumers complain about them. Farmers draws fewer complaints to state regulators than expected for a company of its size, while Allstate draws more. However, both companies ranked below average for customer satisfaction in J.D. Power’s most recent Home Insurance Study.

Both Farmers and Allstate have a long list of coverage options and numerous ways to save on your policy. Allstate’s policies tend to be cheaper on average, according to NerdWallet’s rate analysis.

Get more details in our Allstate home insurance review.

Current Product

Farmers Home Insurance
Allstate Homeowners Insurance
NerdWallet rating 

4.0

/5
NerdWallet rating 

4.0

/5

Complaints to NAIC 

Fewer than expected

Complaints to NAIC 

More than expected

Coverage 

About average

Coverage 

About average

Discounts 

Great set of discounts

Discounts 

Great set of discounts

Bottom line 

Those seeking policy add-ons like diminishing deductibles and claims forgiveness may want to consider Farmers.

Bottom line 

Widely available across the U.S. with lots of ways to customize your policy, but receives more complaints than expected.


Other home insurance companies to consider

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

Why you can trust NerdWallet

Our writers and editors follow strict editorial guidelines that ensure fairness and accuracy in order to help you choose the financial products that work best for you. Our star ratings are based on dozens of data points, including:
A green bank.
Financial strength ratings
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Consumer complaints
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Coverage and discounts

Frequently asked questions

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.

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

Yes, you can earn a discount for bundling home insurance with at least one other Farmers product including auto, life, umbrella or small-business insurance.

Methodology

Homeowners insurance star 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, coverage, discounts and online experience. 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.

Here’s how we weighted each category to come up with our list of the best home insurance companies:

  • Consumer complaints (30%).

  • Financial strength (30%).

  • Coverage (20%).

  • Consumer experience (10%).

  • Discounts (10%).

Read our full ratings methodology for home insurance.

Insurer complaints methodology

NerdWallet examined complaints received by state insurance regulators and reported to the National Association of Insurance Commissioners in 2020-2022. 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. NerdWallet conducts its data analysis and reaches conclusions independently and without the endorsement of the NAIC. Ratios are determined separately for auto, home (including renters and condo) and life insurance.

Homeowners insurance rates methodology

NerdWallet calculated median rates for 40-year-old homeowners from various insurance companies in every ZIP code across the U.S. All rates are rounded to the nearest $5.

Sample homeowners were nonsmokers with good credit living in a single-family, two-story home built in 1984. 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.

We made minor changes to the sample policy in cases where rates for the above coverage limits or deductibles weren’t available.

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

In This Review . . .