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 1940, Farmers employees volunteered for service, both at 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 were 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 have also been sponsoring Rickie Fowler since 2013 and together they’ve helped in natural disaster recovery efforts.

Farmers Facts & Ratings

Year Founded1928
Market Share3%
Financial StrengthExcellent
JD Power RankingAbout Average
BBB RatingA+
A.M. BestA-
NAIC Complaint Index0.80
Moody’s RatingA2
S&P RatingA

Farmers Mobile App Rating

iOS     4.83K user reviews
Android     4.03K 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 get 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.

Do Farmers have an early termination fee?

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

Farmers Insurance Products

Auto InsuranceHome Insurance
Life InsuranceBusiness Insurance
Recreational Vehicle InsuranceWatercraft Insurance
Motorcycle InsuranceUmbrella 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 DiscountOccupational Discount
Distant StudentMulti-Car Discount
Teen Driver DiscountAlternative Fuel Discount
Electronic Funds Transfer (EFT) DiscountHomeowner Discount
Pay-in-Full DiscountTransfer Discount
Good Student

Farmers Auto Insurance Rates by State

Below is a list of the average rates that drivers typically pay with Farmers. On average, Farmers charges approximately $295.93 per month. The cheapest state average is South Dakota at $109.43 per month followed by North Dakota at $113.23 per month. The most expensive state average is Michigan at $748.70 per month.

State Avg monthly rate
AL $208.81
AR $176.15
AZ $247.50
CA $259.38
CO $269.57
IA $143.51
ID $133.15
IL $206.44
IN $136.18
KS $192.88
MI $748.70
MN $160.27
MO $179.73
MT $164.40
State Avg monthly rate
ND $113.23
NE $157.27
NM $200.35
NV $287.43
OH $146.89
OK $172.36
OR $171.27
SD $109.43
TN $170.98
UT $185.65
WA $143.84
WI $174.65
WY $153.18

Farmers Auto Insurance Rates by Vehicle

Drivers typically will get a discount if they insure multiple vehicles. Here is a list of average rates that Farmers charges for drivers who have more than 1 vehicle.

Number of Vehicles Avg Monthly Rate
1 Vehicle $274.45
2 Vehicles $379.72
3 Vehicles $512.72
4 Vehicles $667.71
7 Vehicles $732.47
6 Vehicles $744.83
5 Vehicles $745.37

Farmers Auto Insurance Rates by Homeownership

Customers who own their home rather than rent can sometimes get a small discount. We found that on average Farmers charges $287.45 per month for drivers who own their home and $299.50 per month for those who rent.

Own/Rent Avg Monthly Rate
Own $287.45
Rent $299.50

Farmers Contact Info

Address6301 Owensmouth Avenue, Woodland Hills, CA 91367
Phone1 (800) 974-6755
Websitehttps://www.Farmers.com
Facebookhttps://www.facebook.com/FarmersInsurance/
Twitterhttps://twitter.com/WeAreFarmers
Youtubehttps://www.youtube.com/farmersinsurance
Linkedinhttps://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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