You’ve likely heard of Farmers insurance online or through their television or radio ads. But does this popular insurance really stand up to its claims? As the sixth largest personal insurance carrier in the U.S., Farmers is a brand with a great deal of history and experience.We dug deeper to determine what Farmers has to offer and whether or not their insurance is worth it. Here’s what we discovered:
What is Farmers Insurance?
Farmers Insurance was started by two men, John Tyler and Thomas Leavey, who learned from personal experience that farmers and ranchers naturally had fewer risks to their vehicles and received preferred rates from insurance companies. Using their own money, they opened Farmers Insurance in a one-room office in downtown Los Angeles in 1928 – a year before the Great Depression.
Even when the Great Depression began, Farmers was one of the few companies that paid its customers’ claims in cash rather than IOUs. Decades later, Farmers Insurance was able to flourish and grow its product line to include auto coverage, life insurance and much more. They also support various local communities and national sports.
What are the Products and Services Farmers Insurance Offers?
Farmers Insurance offers a wide variety of products for every stage in your life, as well as those of your family. Many of the plans are customizable with additional features that can help protect the things that traditional insurance plans do not. See more details about their insurance and related products below:
Farmers Home Insurance
Home insurance is one of the products that Farmers is best known for – attending to natural crises such as major hurricanes, earthquakes and floods across the country.
Homeowners coverage helps you protect your investments including property and possessions.It is most commonly needed in the event of a fire, theft or storm damage. Earthquakes and floods aren’t covered under standard homeowners insurance with Farmers, but there are optional coverages available if you wish to add these to your homeowners insurance.
What many people don’t know, however, is that homeowners insurance can also help protect your assets if you’re sued for alleged negligence that caused an accident which resulted in property damage or injury. Some of the things to consider when choosing home insurance include:
- The value of your home and property
- The value of your liability coverage
- The value of unique or expensive items
A Farmers insurance agent can work with you to estimate costs for these points, as well as including Personal Article Floaters which add increased limits or additional coverage to items that are unique or of special value.