Farmers is one of the largest national insurers and offers many useful features to renters. These include the ability to customize coverage, an app that makes it easy to use, and the ability to manage your policy online. NerdWallet found that Farmers’ renters insurance rates were more expensive than the national average, but the company offers many discounts.
Overall performance, Farmers Renters Insurance earned 4 stars. Our editorial team determines NerdWallet’s ratings. The formula for calculating renters insurance scores takes into consideration policy coverage options and discounts as well as ease of filing claims, website transparency, financial strength, and complaint data from National Association of Insurance Commissioners.
Farmers renters insurance state availability
Farmers offers renters insurance in all 50 states, except Alaska, Delaware and Hawaii. Washington, D.C. is also not eligible for policies.
Farmers renters insurance coverage
The basic coverage offered by most insurance companies to renters is the following:
- Personal property coverage pays for stolen or damaged belongings.
- Renters liability coverage, which pays out if you’re sued for causing harm to other people or their things.
- You can get medical payments coverage to cover injuries sustained by others in your home.
- Additional living expenses coverage to cover the cost of living while your home is being fixed after a covered loss.
For a small fee, you can customize your renters policy to include the following types of coverage:
- You can get replacement cost coverage to cover the cost of new replacements in case your belongings are damaged or stolen. (A standard policy covers only the actual value of your belongings at the time of the claim.
- Identity Shield is a program that covers expenses related to identity theft.
- Personal articles floaters are used to protect valuables like jewelry and art that exceed your policy’s limits. A possible appraisal might be necessary.
Farmers renters insurance discounts
You may qualify for the following discounts depending on where you live:
- Multipolicy discount if you purchase auto, life or umbrella insurance along with your renters policy.
- Non-smokers get a discount if they don’t smoke for at least 2 years.
- Discount on a fire alarm or security system
- Doctors, nurses, engineers and teachers get discounts.
Insurance complaints from farmers renting to
According to data from the National Association of Insurance Commissioners, farmers received nearly the number of home insurance complaints that they expected to receive relative to their size. (NAIC home insurance complaints also include mobile homes, condo, and renters policies.
Farmers renters insurance customer experience
Website:Farmers’ website allows you to get a quote and find a local agent. You can use the Farmers website to schedule payments, report on claims and make changes to your policy.
AppendicesRenters can use Farmers’ app on iOS and Android to pay their bills, view policy documents, and manage their payment options.
FAQ for Farmers Renters Insurance
Can Farmers Renters Insurance cover fire?
Yes, your renters insurance will cover your belongings up to your policy limit if they’re damaged or destroyed in a fire, minus your deductible.
Is there any exclusion for dog breeds?
Farmers evaluates renters insurance applications individually and may not insure dogs with a history of bites. The guidelines vary from one state to the next, so it is a good idea for dog owners to discuss these details with an agent.
Can Farmers Renters Insurance cover hail?
Yes. Yes. Your policy limits will cover hail damage to or destruction of your belongings. Your deductible will be applied.
What are the other types of insurance Farmers offers?
Farmers sells policies for auto, homeowners, umbrella, life, and motorcycles, among other things. Read NerdWallet’s Farmers car insurance review to learn more.
Is Farmers Renters Insurance Covered for Theft?
Your belongings will be covered by Farmers’ renters policy if they are stolen. This excludes your deductible. These items are also covered if they are stolen from your home or from your vehicle while you’re away. You may need extra coverage for more expensive items, as the Farmers policy limits for theft are lower for jewelry and watches.
Is Farmers Renters Insurance Coverable for Water Damage or Leakage?
It depends. It depends. Renters insurance covers damage caused by sudden events, such as burst pipes or washer hoses. Mold from slow leaks that your landlord didn’t fix would not be covered. Flood damage isn’t covered either; for that, you’ll need separate flood insurance.
Guide for Renters Insurance
Compare renters insurance companies before you start looking. Gather key information like the address and safety and security features.
Also, you should determine how much coverage is necessary. Do a quick inventory of all your belongings. How much would it cost to replace them? All furniture, electronics, clothing, jewelry, and household items should be included. This is the minimum amount you need for personal property insurance.
Your liability limit should be high enough to cover your net worth, while your deductible should be an amount you’d feel comfortable paying in an emergency.
When evaluating renters insurance quotes, make sure each rate estimate includes the same coverage limits and deductibles so you know you’re getting a fair comparison. It’s tempting to purchase the lowest policy. However, it is worth checking reviews to ensure that you are getting good customer service.
