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Farmers Auto Insurance

Farmers Insurance Group is the third-largest provider in the United States. They insure over ten million households in 41 states. Famers is headquartered in Los Angeles, but its parent company, Zurich Financial Services, is located in Sweden. In addition to vehicles, the carrier also provides homeowners and life insurance as well as a number of financial services. The company began in 1928 when two men from a rural background sought to offer discounted auto insurance protection to farmers, who tended to have better driving records than others. Originally known as the Farmers Automobile Inter-Insurance Exchange, the organization has been serving its policyholders for over 80 years now. To help you decide if this company is right for you, consult our insurer report card included below.

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Customer Satisfaction

The brand has not fared well in customer satisfaction surveys lately. Consumer Reports has ranked them as one of the worst insurers for paying out claims. The company is notoriously tight-fisted when it comes to claims according Consumer Reports. The carrier did not do much better in the most recent J.D. Power & Associates rankings. Every year, J.D. Power & Associates surveys current customers to evaluate their satisfaction with the carrier. Here is how they did in the 2008 rankings:

  • Policy offerings: 3/5 (about average)
  • Pricing: 2/5 (below average)
  • Billing and payment: 2/5 (below average)
  • Contacting the insurer: 3/5 (about average)
  • Overall experience: 3/5 (about average)

Financial Strength

The provider usually receives the highest ratings from agencies like Moody's, A.M. Best, and Standard & Poor's that evaluate insurers' financial health. In 2008, the provider received a financial strength rating (FSR) of A, or "excellent," from A.M. Best. They also received issuer credit ratings of "A" for all of its members. A.M. Best based the ratings on the company's leadership position in the market as well as its wise risk management strategies. Farmers' importance to its parent company, Zurich Financial Services, also helped boost its financial ratings.

Coverage Options

Customers can choose from standard coverage or collectible auto insurance. A standard policy includes liability, uninsured motorist, collision, comprehensive, and medical payments coverage. Collectible coverage is a cheaper form of coverage designed for classic cars that are driven rarely. The carrier offers collectible vehicle policies for muscle cars, antiques, hot rods, customs, and more. Customers can also receive a quote, find an agent, make a payment, and manage their policies online.