Farmers Homeowners Insurance Review

Helping you find the best Farmers homeowners insurance quote for you

Does Farmers Offer Homeowners Insurance

Homeowners insurance is absolutely essential if you are currently in possession of a home or you are thinking purchasing one, and if you were not already considering purchasing homeowners insurance then you should start doing so right now! Homeowners insurance will help you protect the things that are most valuable to you, which are your property and your belongings, against covered perils such as fire damage and theft. If you are feeling overwhelmed by all the different insurance companies and homeowners plans that are available, then let Farmers homeowners insurance be your starting point! Farmers’ strongest selling point is its stellar customer service, along with its wide customisation options for your insurance policy. If you want something more barebones for a lower price then you may want to look into another company, but Farmers homeowners insurance offers you a lot of coverage at a competitive price, making it perfect for those who want to get more out of their money. If you are interested in reading more about homeowners insurance and what it covers, then read on!
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Farmers Homeowners Insurance Review and Costs

As touched on briefly in the last paragraph, Farmers homeowners insurance offers incredible customer service, which means that they offer a quick claims process as well as discounted rates for their customers. This is reflected in their ratings, with an outstanding BBB score of A+, as well as a better-than-average NAIC Complaint Index of 0.79. Some people, however, may be put off by the pricing, as the Farmers homeowners insurance cost can be a bit pricier than that of its competitors – insurance for a prototypical $250,000 two-bedroom townhouse in Naperville, Illinois costs around $158 monthly, which was $20 more expensive than Allstate (the 2nd most expensive company), and $120 higher than Erie (the least expensive company). However, with Farmers homeowners insurance offering you a wide range of quality coverage options, as well as many discount options such as a claims free discount and bundling discounts, this price may be well worth it for those who value customisability in their policy as well as excellent customer service. Farmers homeowners insurance is also available in almost all states in the US.
Farmers Homeowners Insurance High-Level ReviewBy the Numbers
BBB rating for Farmers Homeowners InsuranceA+
Farmers Renters Insurance JD Power Rating3/5
Avg. Cost for Farmers Homeowners Insurance Yearly$1,686.60
Avg. Cost for Farmers Homeowners Insurance Per Month$140.55

Farmers Howeowners Insurance Coverage

Like almost all homeowners insurance providers in the US, Farmers homeowners insurance covers several basic scenarios in their standard package. The primary coverage that they offer is property coverage, where any damages to your private residence caused by covered perils such as fire and smoke are covered by your insurance. Your property and possessions are also covered in the case of theft and vandalism. Liability coverage is also offered in the case that your property is damaged, or someone sustains injury whilst on your property, both caused by your negligence. Farmers homeowners insurance also covers medical payments to others if a guest is injured on your property, regardless of liability. Additional living expenses in the case of temporary relocation caused by a covered event is also paid for. Farmers homeowners insurance also covers losses that occur away from your home, such as jewelry being stolen while you are abroad (covered by personal possessions coverage), as well as the loss of important documents such as passports whilst abroad. There are also many optional coverages such as Eco-Rebuild coverage, where you can receive up to $25,000 to replace materials and appliances with “green” alternatives.
Flooding is a very real concern, especially for those who live in high-risk flooding areas, as it can cause mass damage to your property and possessions. However, as is the case with many insurance providers across the nation, the standard Farmers homeowners insurance policy does not cover flood damage by default. If you believe you live in a high-risk area for flooding, then you may want to purchase flood insurance separately through the National Flood Insurance Program; your Farmers insurance agent can help you with this purchase. It may be a good idea to first ensure that you need flood insurance by checking a flood map of your area, or by observing the landscape in which you live – if you live in a coastal region, a flood plain or in an area with dry land, then you may be at risk for flooding. Similarly, the standard Farmers homeowners insurance policy does not cover fungi, which includes mold growth – the only water damage that is covered by Farmers homeowners insurance is that which is caused by “sudden and accidental” events, which does not include the slow, gradual growth of mold over time.

How Much is Farmers Homeowners Insurance Near You

Farmers homeowners insurance can seem rather pricey compared to many other low-rate insurance providers out there, but it is for good reason, as Farmers offers you significantly more coverage and discount options that your average insurer. For a homeowners policy with a limit of $350,000, the average annual cost with Farmers is $3,049, and for a cheaper $75,000 policy the average annual rate is a decent $1,268. Rates may differ depending on which state and city you are in, so it’s important to compare local quotes for Farmers and other insurance providers before choosing one.

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Get a Farmers Homeowners and Auto Insurance Discount

For many people, making their insurance plan as affordable as possible is important to them, and they may do so through discount options that their insurer provides. One example discount that many insurers who provide auto insurance offer is a discount when you bundle your auto insurance with your homeowners insurance, which can save you around 15% on total insurance costs and allow you to get more for your money. State Farm, for instance, offers this kind of discount, and if an auto-homeowners insurance discount is something that you would want to look for in an insurance provider then you will be glad to know that Farmers will deliver this incredible money-saving discount too. Farmers offers you the option to bundle your auto insurance with your homeowners insurance for a multiline discount, which ensures that you get the most value from your coverage. This bundling option is also available for all of their coverages, so apart from auto insurance you can even choose to buy multiple policy lines and bundle your Farmers homeowners insurance with life insurance, business insurance, recreational insurance and umbrella insurance. Bundling your auto insurance with your homeowners insurance really is the best way to maximize the value of your policy.

Costs of Farmers Homeowners Insurance Compared with Competitors

Though the Farmers homeowners insurance cost may be more expensive than many other more barebones insurance providers, it offers you a lot for your money, and is also not the most expensive insurance provider out there. For a homeowners insurance policy with a $350,000 limit, Farmers was actually third out of State Farm, Allstate, Travelers and Farmers, with State Farm’s average annual cost being a whopping $7,122 compared to Farmers’ $3,049. For this policy Travelers’ average annual cost came out to be $3,694, which is a cut above Farmers, and Allstate ended up costing around $2,626, which is cheaper than Farmers for the same policy limit. However, what is important to keep in mind that Farmers may offer a more quality homeowners insurance service compared to its peers, so you need to compare the policies of each company to decide whether the price is worth it to you.

Reaching Out to Farmers Homeowners Insurance

If you end up being affected by any situations or disasters that your Farmers homeowners insurance policy covers, such as your property being damaged by a covered peril such as fire or smoke, your possessions are stolen, a guest is injured in your residence, your passport is lost while abroad, or a number of other scenarios, then you will need to file a Farmers homeowners insurance claim. Once you have taken care of the most important things first, such as putting the fire out, filing a police report for theft or vandalism, or conducting emergency repairs, there are several steps to take to file an insurance claim. The first thing you must do is call the Farmers homeowners insurance phone number, which can be found on their website, file the claim online on their website, or contact your insurance agent. If you call, your claim will be assigned to a claims representative, who will gather from you additional information about your claim, explain your coverages and help evaluate the damages. Be sure to document any damages or losses with photos and other evidence to back up your claim.
There may be a large number of reasons as to why you may want to cancel Farmers homeowners insurance – perhaps Farmers is no longer within your budget and you want to look for and switch to something more affordable, or maybe it doesn’t quite have the right coverage and discount options that you need. You may even be moving to a state where Farmers homeowners insurance is not available. Whatever the case, your first main point of contact will be your Farmers insurance agent or, if you cannot reach your agent, you may have to call the Farmers Customer Service. You may be asked to submit your cancellation request in writing, and perhaps provide other documents depending on the state you live in. Once you have cancelled your Farmers homeowners insurance policy, however, it is of the utmost importance that you repurchase a new homeowners insurance policy as soon as possible to make sure that your property, possessions and liability remain covered and are only unprotected for the shortest amount of time possible.

Deciding on Whether Farmers is Right for Your Home

In this article we have gone over the main information about homeowners insurance and, more specifically, Farmers homeowners insurance that you will need to know to select the right policy for you. To help you decide on whether or not Farmers is right for your home, it would be a good idea to first compare the costs, discount options, and coverage options of Farmers homeowners insurance with those of other insurance providers in your state and city to see which policy best fits your needs. Farmers is, however, a great option for homeowners insurance as, though it may be pricier than some insurance providers you will come across, it offers a wonderful range of discount and coverage options. Not only that, but it boasts excellent customer service, so with all of these factors combined you may find that Farmers homeowners insurance is well worth the money as opposed to more barebones insurers with cheaper rates – you really will be paying more for better quality. With all the information we have discussed in this article, you are now well-equipped to find the best Farmers homeowners insurance quote for you.