Farmers Insurance: Company Overview

Founded in 1928, Farmers is one of the largest insurance carriers in the country.

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About Farmers

Farmers Insurance began selling insurance a year before the Great Depression and survived to become a household name. Founders John C. Tyler and Thomas E. Leavey started off by going farm to farm to gain their first policies. They specifically lowered rates for farmers and ranchers because they understood that these occupations posed fewer risks with their vehicles. By 1928, they were able to open an office in downtown Los Angeles. During the Great Depression, Farmers was one of the few companies that were able to pay claims. When a devastating earthquake hit Los Angeles, Farmers paid out claims for damaged cars and became the first insurance company to offer comprehensive insurance.

During the 1940, Farmers employees volunteered for service, both home and abroad. In the 1950s, the company acquired the New World Life Company of Seattle. They were the first company to use IBM computers for data storage and retrieval west of the Mississippi. They also became official participants of the Rose Parade and later became the official insurance sponsor of the Pasadena Tournament of Roses. Celebrities who sponsored radio programs and community activities for Farmers included Roy Rogers, Bob Hope, Jane Powell, Art Linkletter and Tyrone Power. In the 1960s, they were the first major insurance organization to offer monthly payment plans which didn’t charge customers interest. They started drive-in claims services. The British-American Tobacco Company acquired Farmers Group, Inc. in 1998. That same year, Farmers began raising money for the March of Dimes and has raised more than $40 million in donations for health research, vaccines and education since then. After the 1994 Northridge earthquake and the 1999 Midwest tornados, Farmers was on the ground helping affected customers. They started rebuilding projects, adopt-a-family programs, toy donations and more. In 1998, Farmers Group was acquired by Zurich Financial Services. Farmers was one of the first insurers to offer a discount for alternative-fuel vehicles. Because of Farmers superior training of employees, they were voted No 1 corporate training center in the country by Training magazine. In 2010, Farmers became the title sponsor of the Farmers Insurance Open PGA Tournament at Torrey Pines. They have also partnered with the PGA Tournament and the Century Club of San Diego to raise more than $24 million for charities in the San Diego area. Farmers has also been sponsoring Rickie Fowler since 2013 and together they’ve helped in natural disaster recovery efforts.

Farmers Facts & Ratings

Year Founded 1928
Market Share 3%
Financial Strength Excellent
JD Power Ranking About Average
BBB Rating A+
A.M. Best A-
NAIC Complaint Index 0.80
Moody’s Rating A2
S&P Rating A

Farmers Mobile App Rating

iOS 4.8 3K user reviews
Android 4.0 3K user reviews

The Farmers app is available for iOS and android. The Farmers Mobile App allows you access to self-service features.

Pros & Cons of Farmers

  • Financial strength
  • Great employee education and customer service.
  • Steep early-cancellation fees.

Common Questions about Farmers

What car insurance is cheaper than Farmers?

Each auto insurer has a unique way of rating people. One person may pay a low rate with one company and not another. The best way for you to find the lowest rate is to compare auto insurance quotes here on SmartFinancial.

How good is Farmers insurance?

Farmers Insurance is one of the largest insurance companies in the country. Farmers gets high ratings for financial strength and customer service.

How much does it cost for Farmers to insure a motorcycle?

Farmers Insurance motorcycle rates vary based on a series of risk factors.

How much is Farmers insurance a month?

Rates vary from one person to another. Our inhouse reporting found that the average auto insurance policy with Farmers was about $170 per month.

How much will it cost for two vehicles with Farmers?

Rates vary from one person to another but you qualify for a multi-policy discount with Farmers which typically will save you some money.

How do I lower car insurance rates from Farmers?

One way to lower your car insurance rate is to improve your credit history if you live in a state that allows insurance companies to check your credit.

On average, how much is Farmers insurance?

Rates are based on a variety of factors but on average you can expect to pay about $2,040 a year.

What does Farmers insurance provide?

Auto Insurance, Home Insurance, Life Insurance, Business Insurance Recreational Vehicle Insurance, Watercraft Insurance, Motorcycle Insurance, Umbrella Insurance.

Does Farmers auto insurance cover natural disasters?

Insurance companies cover damage from hail storms and other covered natural disasters if you have comprehensive insurance.

Does Farmers insurance cover DUI accidents?

If you were in an accident that was your fault, your liability coverage will cover damages and injuries to the other driver, his/her auto and passenger(s) up to express limits found in your car insurance declarations page.

How do I change my Farmers agents?

Contact Farmers directly and ask for a new agent to represent you. You can call 1 (800) 974-6755.

Does Farmers have early termination fee?

Yes, Farmers and most other insurance companies charge an early termination fee.

Farmers Insurance Products

Auto Insurance Home Insurance
Life Insurance Business Insurance
Recreational Vehicle Insurance Watercraft Insurance
Motorcycle Insurance Umbrella Insurance

Farmers Auto Insurance Coverage

Bodily Injury Liability

This protection covers bodily injuries to the other driver in an accident that was your fault.

Property Damage Liability

This protection covers property damage and loss of use for the third party.

Comprehensive Coverage

This insurance covers damages and loss other than that caused by a collision. It is subject to a deductible.

Collision Coverage

This insurance covers damages and loss caused by impact with another automobile, object or person. It is subject to a deductible.

High Risk Coverage

Insurance for people struggling to purchase standard car insurance due to a less-than-perfect driving or coverage record.

Uninsured Motor Vehicle

This coverage pays for medical expenses if you’re injured in an accident caused by someone who doesn’t have liability insurance.

Medical Payments

This type of protection will cover you if you’ve been injured in an accident, regardless of who’s at fault. Coverages include income continuation, loss of services, funeral expenses and child-care expenses.

Personal Injury Protection (PIP)

This type of protection will cover you if you’ve been injured in an accident, regardless of who’s at fault. Coverages include income continuation, loss of services, funeral expenses and child-care expenses.

Discounts

Multi-policy Discount Occupational Discount
Distant Student Multi-Car Discount
Teen Driver Discount Alternative Fuel Discount
Electronic Funds Transfer (EFT) Discount Homeowner Discount
Pay-in-Full Discount Transfer Discount
Good Student

Farmers Auto Insurance Rates by State

State Avg monthly rate
AL $227
AR $174
AZ $230
CO $269
CT $44
GA $34
IA $155
ID $113
IL $191
IN $130
KS $167
MI $660
MN $159
MO $177
MT $146
State Avg monthly rate
ND $118
NE $152
NM $213
NV $264
OH $141
OK $168
OR $192
PA $36
SD $110
TN $156
TX $13
UT $193
VA $36
WA $153
WI $176
WY $187

Farmers Auto Insurance Rates by Vehicle

Number of Vehicles Avg Monthly Rate
1 Vehicle $297
2 Vehicles $384
3 Vehicles $532
4 Vehicles $560
5 Vehicles $589
6 Vehicles $828

Farmers Auto Insurance Rates by Homeownership

Own/Rent Avg Monthly Rate
Own $324
Rent $311

Farmers Contact Info

Address 6301 Owensmouth Avenue, Woodland Hills, CA 91367
Phone 1 (800) 974-6755
Website https://www.Farmers.com
Facebook https://www.facebook.com/FarmersInsurance/
Twitter https://twitter.com/WeAreFarmers
Youtube https://www.youtube.com/farmersinsurance
Linkedin https://www.linkedin.com/company/farmers-insurance/

Methodology
The statistics listed on this page are from our own in house reporting. We track and record quotes that carriers have provided based on various criteria. The rates and averages shown on this page should only be used as an estimate.

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