Farmers Renters Insurance
Farmers Insurance provides renters insurance at affordable prices, depending on where you live. They offer competitive rates, have flexible premium payment terms, and adjustable coverage. The property minimum for basic coverage is right around $4,000 while the maximum is $100,000. In terms of payout limits, Farmers includes computers, jewelry, silverware, business personal property, and firearms. In addition to that, they feature additional coverage if you bundle more than one policy and offer a number of discounts (multi-policy, burglar alarm, fire alarm, and sprinklers discount). Talk about savings!
The biggest disadvantage with this insurance company is that it takes 3 days for policy delivery time. Compared to other institutions this is between 1-2 days longer which makes a big difference when you're in a situation requiring immediate action. Furthermore, Farmers doesn't have nationwide coverage, a discount for online purchases, or online chat support. They make up for the lack of online support with their other convenient support features like 24-hour telephone claims, email, and coverage calculators. In terms of educational resources, their website does not provide the breadth and depth of information that is common on competitors' portals.
Compared to the other insurance companies on our list, Farmers earns 4-stars. A.M Best awarded them an A for financial strength and they won the Gold Award for North America as part of the annual Global Awards for Excellence in Business Process Management (BPM) and Workflow. They make it on the top 5 for their competitive insurance quotes and comprehensive claim management features but lose points due to their unavailability in some areas. Review the aforementioned pros and cons once more before proceeding.
Verdict - Good
Farmers renters Insurance has a solid reputation and provides excellent coverage at affordable prices, but currently it lacks the operational heft to cover all 50 states. In order to purchase a Farmers renters insurance policy contact an agent in your area.