Best Homeowners Insurance Companies: Farmers Insurance

John C. Tyler and Thomas E. Leavey founded Farmers in 1928. Their company survived the Great Depression to become Farmers Insurance Group in Los Angeles.

Farmers Insurance has 46 companies that offer home, vehicle, commercial, life, and financial services. Farmers Insurance Group services 10 million homes and has 19 million policies. It has 48,000 agents and 21,000 employees.

AM Best rates the company's financial soundness A. Farmers offer homeowners insurance through local agents, by phone, or online.

Farmers offer ordinary, enhanced, and premier policies. The lowest tier is for new homeowners, the middle for established homeowners, and the highest for those who desire maximum coverage. The tiered layout makes choosing coverage straightforward and personalized.

Contents replacement cost coverage and an Eco-Rebuild option can be added to any policy. Farmers offer typical advantages across all policies, including declining deductibles and claim forgiveness, which avoids a rate increase after your first claim.

Farmers offer multipolicy savings, military, teacher, and fireman discounts, plus discounts for improvements and newer houses. State-specific incentives vary.

Farmers aren't available in all states. Excludes Alaska, Hawaii, Rhode Island, New Hampshire, Vermont, West Virginia, Delaware, Maine, North Carolina, and D.C.

Overall:

Farmers Insurance may suit you if you favor energy-efficient upgrades and expect to stay with your new provider for years. The company offers an Eco-Rebuild policy and discounts for loyalty. Farmers aren't available everywhere.

Farmers' Home Insurance Options

Farmers' typical policy covers:

• Weather-damage protection for homes and unattached garages, sheds, guesthouses, greenhouses, and other outbuildings.
• loss-of-use coverage pays for interim housing and food after a claim.
• Fire, theft, and vandalism coverage
• Furniture, appliances, clothing, and other home items are covered. Jewelry and valuables may need extra coverage.
• Liability coverage to assist in paying medical and legal charges if you cause someone's injury on your property.

Farmers exclude flood and earthquake coverage from ordinary homeowner policies. Both are possible. Specialized plans for renters or condo owners cover personal property and liability within your unit, but not the exterior, outbuildings, or other aspects.

Farmers Home Insurance Discounts

Farmers offer home insurance reductions. Because discounts vary by state and scenario, it pays to research online and consults an agent.

• Combining home and auto insurance can save you money.
• Remaining claim-free for three or more years can earn you a 10% discount from Farmers, even if you're a new customer.
• Five-year claim-free customers may avoid a premium hike following their next claim.
• EFT: Farmers Insurance discount for setting up automatic monthly payments.
• Farmers offer a good payer discount and an automatic payment plan.
• Fire alarms, sprinklers, home security systems, deadbolts, and window locks may get you a discount.

Farmers Offer Additional Homeowner's Insurance

Farmers offer optional coverages according to your region, living condition, and circumstances, such as additional personal property coverage for jewelry and valuables or added liability coverage if you have a pool, trampoline, or other risky items. The company's website has an additional coverage cost estimator. Farmers advise customers to consult an agent.

• Farmers' home policies cover minor water damage from a burst pipe. Overflowing rivers, flood tides, and snowmelt runoff are not covered and require optional coverage.
• Most insurers, including Farmers, won't cover earthquake damage under a typical policy. Farmers provide specialized coverage.
• Personal articles floater: This protects jewels, furs, and artwork whose worth exceeds a conventional policy's limits.
• Extended replacement pays the real cost to rebuild your home at current rates, which may be more than its market worth and local labor and material expenses.
• The Eco-Rebuild option pays up to $25,000 for rebuilding with eco-friendly materials and energy-efficient appliances.
• Your home's building codes may have altered. After a claim, this coverage might give additional funds to meet standards and laws.
• This option reimburses you for replacing a TV or equipment at current costs without depreciation.
• Identity theft: Identity Shield covers unauthorized credit card charges and losses. It helps solve crimes and replace missing documents.
• Umbrella coverage enhances your liability coverage when a covered loss exceeds your homeowners' policy limitations.