Farmers Renters Insurance Review
Farmers provides customers with home, auto, and life insurance products. You can add renters insurance as part of your Farmers bundle to save money on all your policies. Farmers renters insurance covers your rental, personal belongings, and even the guests who visit you, should they get injured.
Some of the more common incidents that you can face as a renter is a break-in where someone steals your valuables, a pipe bursting and damaging your belongings, or a fire. Farmers renters insurance would reimburse you for your losses in those events and more.
Personal liability is another important aspect of your Farmers renters insurance coverage. If a guest slips and falls in your home, Farmers would pay for their medical bills. You can’t predict what can go wrong, and Farmers renters insurance allows you to personalize your rental insurance coverage amounts to protect your property and guests.
Available in all 50 states
Customize your deductible to maximize savings
Average customer satisfaction ratings
The Renters Insurance Factors We Analyzed
Farmers comes in at No. 8 in the J.D. Power Property Claims study. It’s rated by customers as average overall, although it scores above average in the repairs process and settlement categories.
Although Farmers has a widespread network of 48,000 exclusive and independent agents available to help, managing your policy online is one of Farmers’ strengths. Customers can access their accounts through the user-friendly online portal to pay bills, manage documentation, and file a claim. The claim filing can also be done through the mobile app which comes in handy when something goes wrong outside of business hours. Getting a quote can be done through its website using its online quote page.
Farmers renters insurance has several coverages to protect you and your property:
- Personal property to cover losses or damages to your belongings
- Liability to protect you against lawsuits
- Medical payments to cover the cost of medical bills for guests who may be injured in your rental
- Additional living expenses coverage to help with the cost of housing and food if you’re forced to move out while your residence is repaired
- Replacement cost coverage to pay for the cost of replacing older items with brand new equivalents
- Identity Shield to pay for the efforts to recover your identity and notify the credit bureaus if your identity is stolen
The customizable deductible feature helps you adjust your deductible to save on your premium. Most rental insurance policies have a standard deductible between $500 and $2,500 to choose from.
Farmers also allows you to customize your policy by event, so you can reduce or increase the amount for certain events such as wind, hail, or theft. Perhaps you want an overall $1,000 deductible but would like a $500 deductible for wind because you live in a windy area where damage is more likely. This allows you to get better premiums by not having to overpay on all instances of loss while getting the extra coverage you need on more likely events.
Deals, discounts, and add-ons
Farmers offers home, auto, and life insurance products that can be bundled with renters insurance for multi-policy discounts. According to Farmers, you can save on your rental insurance when you:
- Inform your agent that you’re a professional such as a nurse, doctor, teacher, engineer, police officer, or firefighter
- Live in a household that has been smoke-free for at least two years
- Have an approved security system and/or fire alarm installed
Farmers Renters Insurance Overview: Financial Strength, Availability, and History
Farmers was established nearly 100 years ago to bring affordable auto insurance to farmers. The small operation grew into one of the largest and most respected insurers in the country. Farmers’ mission is to offer personalized service, and the company’s 48,000 independent offices nationwide are there to provide it. With good financial strength and customer satisfaction scores, it is a reliable pick for renters insurance.
- In business since: 1928
- S&P Global financial strength rating: A
- Moody’s financial strength rating: A2
- A.M. Best financial strength rating: A
- States served: 50
All information accurate as of January 10, 2020.
Farmers Renters Insurance FAQ
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