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Farmers Renters Insurance Review 2024
Lead Writer | Home insurance, renters insurance, pet insurance
Sarah Schlichter is a NerdWallet authority on homeowners, renters and pet insurance. Prior to joining NerdWallet, she spent more than 15 years in digital media as a writer, editor and spokesperson. Sarah enjoys delving into complicated topics and helping readers understand the ins and outs of their insurance coverage. She lives in the Washington, D.C., metro area.
Assistant Assigning Editor | Home insurance, renters insurance, pet insurance
Caitlin Constantine is an assigning editor at NerdWallet, focusing on homeowners, renters and pet insurance. She has more than 15 years of experience in digital media, including as the deputy managing editor at The Penny Hoarder and as a digital producer for a 24/7 news station based in the Tampa Bay area. Caitlin enjoys exploring the ways technology can help people become better informed about the world. She currently lives outside Asheville, North Carolina.
Many, or all, of the products featured on this page are from our advertising partners who compensate us when you take certain actions on our website or click to take an action on their website. However, this does not influence our evaluations. Our opinions are our own. Here is a list of our partners and here's how we make money.
Farmers
4.5
Coverage optionsRatings are based on the number of coverage options a company offers in comparison to other insurers.
DiscountsRatings are based on the number of discounts a company offers in comparison to other insurers.
NAIC complaintsRatings are based on complaints to state regulators relative to a company’s size, according to three years’ worth of data from the National Association of Insurance Commissioners. NerdWallet conducts its data analysis and reaches conclusions independently and without the endorsement of the NAIC.
Pros
- Many discounts available.
- Users can manage their policies online or through the app.
- Fewer consumer complaints than expected for a company of its size.
Cons
- Rates higher than the national average in NerdWallet's analysis.
Farmers
4.5
Coverage optionsRatings are based on the number of coverage options a company offers in comparison to other insurers.
DiscountsRatings are based on the number of discounts a company offers in comparison to other insurers.
NAIC complaintsRatings are based on complaints to state regulators relative to a company’s size, according to three years’ worth of data from the National Association of Insurance Commissioners. NerdWallet conducts its data analysis and reaches conclusions independently and without the endorsement of the NAIC.
Pros
- Many discounts available.
- Users can manage their policies online or through the app.
- Fewer consumer complaints than expected for a company of its size.
Cons
- Rates higher than the national average in NerdWallet's analysis.
About Farmers renters insurance
4.5
NerdWallet ratingFarmers renters insurance earned 4.5 out of 5 stars for overall performance. As one of the nation’s largest insurers, Farmers offers a variety of useful features for renters, including several ways to lower your premium, a user-friendly app and the ability to manage your policy online. Its coverage is available in most U.S. states and may include up to $1,500 to help you recover from identity theft.
Based on this star rating, Farmers is among NerdWallet’s Best Renters Insurance Companies for 2024.
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 renters 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
Highly rated app. The Farmers mobile app gets strong reviews from Apple and Android users.
Customer satisfaction. Farmers ranked above average for customer satisfaction in J.D. Power’s 2023 Home Insurance Study.
Where Farmers falls short
Cost. Farmers renters insurance is more expensive than the national average, according to NerdWallet’s rate analysis.
State availability
Farmers offers renters insurance in every U.S. state except Alaska, Delaware, Florida, Hawaii, Maine, New Hampshire, Rhode Island, South Carolina, Vermont and West Virginia. Policies are also unavailable in Washington, D.C.
Farmers renters insurance coverage
Landlords sometimes require tenants to purchase a policy with a minimum amount of renters liability insurance, but otherwise, the coverage you choose is generally up to you. Below are the four types of coverage included in most standard renters policies:
Type of coverage | What it does |
|---|---|
Covers your clothing, furniture, electronics and other belongings. | |
Pays for hotel stays, restaurant meals or other expenses if you have to live elsewhere while your home undergoes covered repairs. | |
Pays out if you're responsible for injuries to other people or damage to their property. | |
Covers injuries to other people in your home, regardless of fault. |
For more details, see What Does Renters Insurance Cover?
In addition to these standard types of coverage, a Farmers renters policy may include:
Identity theft coverage, which offers up to $1,500 toward expenses related to identity theft. You can upgrade your policy to raise this limit and cover a broader range of expenses.
Refrigerated food coverage, which pays up to $500 to replace food spoiled in a covered incident. There’s a $50 deductible.
You can also choose to buy replacement cost coverage, which pays for brand-new replacements if your belongings are stolen or damaged. (A standard renters policy pays only the value of your items at the time of the claim.)
If you own expensive items such as jewelry, furs or firearms, a standard renters policy may not provide enough coverage. You can cover these items individually with a “personal articles floater.”
Farmers renters insurance rates
The average cost of Farmers renters insurance is $203 a year, or about $17 a month, according to NerdWallet’s rate analysis. That’s higher than the national average of $148 a year. Our analysis also found that Farmers’ average rates were higher than those of several other major insurers.
Company | Average annual cost |
|---|---|
$115. | |
$168. | |
$188. | |
$203. | |
USAA* | $142. |
*USAA renters insurance is available only to active-duty military members, veterans and their families. | |
Our sample rates were calculated for 30-year-old renters with a $500 deductible, $30,000 in personal property coverage and $100,000 in liability insurance. Your rates will be different.
Discounts
Depending on where you live, you may be eligible for discounts if you:
Buy auto, life or umbrella insurance along with your renters policy.
Haven’t smoked for at least two years.
Haven’t filed a claim for a specified amount of time.
Have a security system or fire alarm.
Are a doctor, nurse, engineer, dentist, teacher, police officer or firefighter.
Have been a Farmers policyholder for a certain amount of time.
Consumer complaints
Farmers received 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.)
» MORE: The cheapest renters insurance
Consumer experience
Website: You can get a quote or find a local agent on the Farmers website. Once you’re a policyholder, you can also use the site to make or schedule payments and to report and track claims.
App: Renters can use the Farmers app (available on iOS and Android) to pay bills, see policy documents and manage payment options.
Claims: You can file and track claims online. If you need help, you can call Farmers’ claim number at 800-435-7764 or use the company’s chatbot.
Customer service: Representatives are available 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. You can also call your local agent or send a message through your online account.
Current Product
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NerdWallet rating NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates discounts, coverage options, website transparency, financial strength, complaint data and more. 4.5 /5 | NerdWallet rating NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates discounts, coverage options, website transparency, financial strength, complaint data and more. 4.5 /5 | NerdWallet rating NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates discounts, coverage options, website transparency, financial strength, complaint data and more. 4.0 /5 |
Complaints to NAIC Ratings are based on complaints to state regulators relative to a company's size, according to three years' worth of data from the National Association of Insurance Commissioners. NerdWallet conducts its data analysis and reaches conclusions independently and without the endorsement of the NAIC. Fewer than expected | Complaints to NAIC Ratings are based on complaints to state regulators relative to a company's size, according to three years' worth of data from the National Association of Insurance Commissioners. NerdWallet conducts its data analysis and reaches conclusions independently and without the endorsement of the NAIC. Close to expected | Complaints to NAIC Ratings are based on complaints to state regulators relative to a company's size, according to three years' worth of data from the National Association of Insurance Commissioners. NerdWallet conducts its data analysis and reaches conclusions independently and without the endorsement of the NAIC. More than expected |
Coverage Ratings are based on the types of coverage a company offers in comparison to other insurers. About average | Coverage Ratings are based on the types of coverage a company offers in comparison to other insurers. About average | Coverage Ratings are based on the types of coverage a company offers in comparison to other insurers. About average |
Discounts Ratings are based on the number of discounts a company offers in comparison to other insurers. Great set of discounts | Discounts Ratings are based on the number of discounts a company offers in comparison to other insurers. Great set of discounts | Discounts Ratings are based on the number of discounts a company offers in comparison to other insurers. Great set of discounts |
Bottom line Strong coverage plus a user-friendly app to manage your policy. | Bottom line Renters insurance coverage with a few useful add-ons. | Bottom line Solid coverage and discounts, available across the U.S. |
Other renters insurance companies to consider
Not ready to make a decision? You may be interested in these other renters insurance companies:
» MORE: Farmers home insurance review
Yes, your renters insurance will cover your belongings up to your policy limit if they’re damaged or destroyed in a fire, minus your deductible.
Farmers evaluates renters insurance applications individually and may not insure dogs with a history of bites. Guidelines vary by state, so dog owners may want to go over the details with a local agent. Learn more about dog liability insurance.
Farmers also sells homeowners, umbrella, life, motorcycle and auto policies, among others. Read NerdWallet’s Farmers car insurance review to learn more.
A Farmers renters policy will cover your belongings if they’re stolen, minus your deductible. This coverage applies away from home, too, so if someone takes your laptop from your car or steals your bike while you're on vacation, these items would be covered. Note that Farmers’ policy limits for theft tend to be lower for certain items such as jewelry and watches, so you may need to buy extra coverage for some expensive items.
It depends. Renters insurance is designed for sudden accidents, so damage from burst pipes and washer hoses would be covered, but mold from a slow leak that your landlord never fixed would not. Flood damage isn’t covered, either; for that, you’ll need separate flood insurance for renters.
Yes, your renters insurance will cover your belongings up to your policy limit if they’re damaged or destroyed in a fire, minus your
deductible
.
Farmers evaluates renters insurance applications individually and may not insure dogs with a history of bites. Guidelines vary by state, so dog owners may want to go over the details with a local agent. Learn more about
dog liability insurance
.
Farmers also sells homeowners, umbrella, life, motorcycle and auto policies, among others. Read NerdWallet’s
Farmers car insurance review
to learn more.
A Farmers renters policy will cover your belongings if they’re stolen, minus your deductible. This coverage applies away from home, too, so if someone takes your laptop from your car or steals your bike while you're on vacation, these items would be covered. Note that Farmers’ policy limits for theft tend to be lower for certain items such as jewelry and watches, so you may need to buy extra coverage for some expensive items.
It depends. Renters insurance is designed for sudden accidents, so damage from burst pipes and washer hoses would be covered, but mold from a slow leak that your landlord never fixed would not. Flood damage isn’t covered, either; for that, you’ll need separate
flood insurance for renters
.
Methodology
Renters insurance star ratings methodology
NerdWallet’s renters 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 options, 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. Read our full renters insurance rating methodology.
Insurer complaints methodology
NerdWallet examined complaints received by state insurance regulators and reported to the National Association of Insurance Commissioners in 2021-2023. 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.
Renters insurance rates methodology
To find the average cost of renters insurance in the U.S., NerdWallet calculated the median rate for 30-year-old tenants from multiple insurance companies in every ZIP code across all 50 states and Washington, D.C. Sample tenants were nonsmokers with good credit and no recent claims, living in a two-bedroom apartment. They had a $500 deductible and the following coverage limits:
$30,000 in personal property coverage.
$100,000 in liability coverage.
$10,000 in additional living expenses 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.
We then compared the insurer's median rates to the median rates for other companies.
These are sample rates generated through Quadrant Information Services. Your own rates will be different.
In This Review . . .