Farmers Renters Insurance Review: Pros & Cons, Pricing, and Features

Studenomics Score:  4.5 Out of 5 Stars

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Who is Farmers Insurance Group?

Farmers Insurance Group was founded in 1928. The company has more than 48,000 independent agents and 21,000 employees to serve you.

According to the official website, Farmers believe that they put people first. Here’s the slogan that they tout.

"We’ve spent 90 years putting customers first — personalized attention is a hallmark of the Farmers experience."

We're going to be focusing on the renter's insurance offered by Farmers Insurance Group.

How Does Farmers Renters Insurance Work?

Is Farmers Renters Insurance Good? 

Is Farmers good Renters Insurance? We don't want to waste your time because we know that you work hard for your money.

After testing out the user interface and applying for a few renter's insurance quotes, we discovered that Farmers Renters Insurance is good.

The company emailed us the quote within minutes and then followed up with a phone call. This added personal touch was pleasant because we know how intimidating it can feel to sign up for a new insurance policy.

The actual policy itself was also customized and easy-to-understand.

Is Farmers Renters Insurance legit?

We try to conduct a deep dive on every renter’s insurance company that we review on Studenomics. 

We’ve concluded that Farmers Renters Insurance is legit based on the policies that they offer and what customers had to say.

We wanted to include one review from the BBB website that stuck out to us during our research on Farmers.

We always look at the cost of a renters insurance policy to ensure that you’re not overpaying since we realize how sensitive price can be these days with everything that’s going on in the world.

We looked through dozens of renters' insurance quotes so that you don't have to.

How Much Is Farmers Renters Insurance?

We went through the process of finding out how much is Farmers Renters Insurance. We were surprised to see how easy to was to customize the quote based on your budget.

The image below highlights a section from when we obtained a quote. This handy calculator helps you determine how much personal property coverage you need based on what you own.

Farmers Renters Insurance Quotes.

We went through the process of obtaining a Farmers Renters Insurance quote so that you know exactly what to expect.

What will you be asked about when you try to obtain a Farmers Renters Insurance quote?

• Property type.
• Number of units in the building.
• Unrelated roommates.
• Number of property losses in the last 3 years.
• The kind of safety measures that are in place.
• Pets.
• If you run a business on the property.
• Unusual hazards that the unit may have.
• Personal property worth.
• If you want to bundle.

The good news here is that you can customize your policy depending on how much your personal property is worth. You don’t have to protect everything that you own.

For $10/month here’s what you get in New York:

Personal property coverage: $20,000

Loss of use: $4,000

Medical payment to otherS: $1,000

Personal liability: $100,000

That’s with a $500 deductible. $10/month is an extremely low rate for a renter's insurance policy.

Is Farmers Renters Insurance Worth The Cost?

Renters insurance in general is always a decent investment because you’re protecting yourself and your belongings.

One thing we look for in a renter's insurance policy is flexibility. We know that you have a unique situation.

Farmers Insurance Renters Insurance offers policies that are flexible and easy-to-customize based on your budget and lifestyle.

We also found that Farmers is a good option if you want an inexpensive policy. You can't go wrong with a quote for $10/month without any bundles.

Can I Bundle My Farmers Renters Insurance With My Auto Insurance?

The good news is that Farmers encourages you to bundle your insurance packages. 

Farmers wants you to bundle so that you can save money with an insurance bundle.

We looked through Glassdoor, BBB, and Reddit to see what real customers had to say about Farmers Renters Insurance.

In our experience from reviewing insurance companies, these are the best indicators of what to expect.

We gave Farmers a 5 in this section because you won't find many insurance companies that have a BBB rating of A+ (extremely rare).

We also found positive reactions regarding the claims process. We put a lot of emphasis on claims because we know how stressful that entire process could be.

Notable Quote  From The Simple Dollar Against Farmers Renters Insurance:

“Farmers offers great rates for renters insurance, but its standard renters policies provide rather average coverage. While Farmers allows you to increase your coverage levels, standard renters policies with some other companies have better features, such as earthquake, flood and replacement cost coverages.”

How Do You File a Farmers Renters Insurance Claim?

Let’s say something happens and you have to file a claim on your Farmers Renters Insurance policy, how do you go about this?

The official website goes into detail about how you can file a claim.

The good news is that you can file a claim online. You simply login and input the details about your claim. Then you wait for an agent to respond to your claim so that you know how to proceed moving forward. 

How else can you file a claim?

1. Text the words REPORTCLAIM to 29141, and you'll receive a link to begin the claims process. 
2. The Farmers Mobile App.
3. Call anytime at: 1-800-435-7764

As you can see, there are many options for filing a claim.

Before you file a claim, it’s always important that you follow the typical basic steps here:

1. Contact police and your landlord.
2. Take inventory of what was stolen/damaged.
3. Ensure that you're covered.

What Isn’t Covered By My Farmer's Renters Insurance Policy?

Just as important as what’s covered by your renter’s insurance policy is what isn’t covered by your policy.

What’s not covered with a standard Farmers Renters Insurance policy?

The standard plan has basic coverage so you’re going to want to look into your limits.

“Although most renters policies cover personal property like jewelry, watches, manuscripts, collections and fine art, coverage limits may be relatively low. If you own any items worth more than $500, you may wish to purchase personal articles floaters that provide extended coverage up to a limit of your choosing.”

You can also pay extra for “Identity Shield” which will protect you from identity theft fraud.

As you can see below, the website shares details of policy upgrades.

Can I Add My Roommate?

Can you add a roommate to your Renters Insurance  Farmers  policy? 

Yes. When you apply for a quote, you’re asked about how many unrelated people live to you. They do this to see if you have anyone else to add. You likely have to pay an extra fee to add unrelated folks to your policy (as is the standard).

Farmers Insurance Group scored an A rating with A.M Best. They're a strong company that has been around for almost a century.

Farmers has employees and agents across the nation serving customers. The company is in no danger of being unable to pay for claims or to cover expenses.

Any insurance company that has been around for almost a century, has proven that they can be financially reliable for its policyholders. 

Pros and Cons of Farmers Renters Insurance?

Every renter’s insurance policy comes with positives and negatives.

What are the pros and cons of Farmers Renters Insurance?

Those are the pros and cons that we want you to consider before going with Farmers Insurance Renters Insurance. We appreciate the inexpensive rates, but wish that the website would have more policy information regarding renter's insurance.

Does Farmers Offer Insurance In My State?

You're in luck because Farmers Insurance Group currently offers insurance in all 50 states.

You can also check the best renters insurance rates by state using the map below.

How can you cancel?

Let's say that you want to change your renters insurance policy, how do you cancel Farmers Renters Insurance?

You can contact your local agent directly or call 1-888-327-6335. 

You're going to be asked about your policy number and why you want to cancel.

Please ensure that you have renters insurance coverage ready so that you're not left with zero insurance.

Take Action

Hopefully you found our Farmers Renters Insurance Review helpful. 

We were pleasantly impressed with how many options are offered for filing a claim and for how easy it is to obtain a quote.

We do wish that the policies were more comprehensive and that the website had more details.

You should have enough information in here to decide if you want to trust Ranchers and Farmers Renters Insurance with your insurance needs.