Name: Farmers
Item: Farmers
Rating: 3.5
Author: Jason Metz

Our Verdict

Farmers has generally high average renters insurance rates compared to its competitors in our analysis, especially for higher levels of coverage. It does have a very low level of complaints, which typically indicates good customer service.

Pros

Farmers’ Identity Shield pays for expenses to restore your identity if you are the victim of identity theft.
Special incentives for non-smoking households that have been smoke-free for at least two consecutive years.
Very low level of complaints.

Cons

Renters insurance rates are higher than top competitors for most of the coverage levels we analyzed.

Table of Contents

Farmers Renters Insurance Cost Comparison

Renters insurance is usually relatively inexpensive considering the amount of coverage you can get. Compared to competitors, Farmers’ renters insurance rates tend to be high.

Company	Average annual renters insurance cost for $15,000 of personal property coverage	Average annual renters insurance cost for $30,000 of personal property coverage	Average annual renters insurance cost for $50,000 of personal property coverage	Forbes Advisor rating
State Farm	$102	$121	$153
Westfield	$136	$156	$183
American Family	$154	$189	$231
Auto-Owners	$113	$147	$196
USAA*	$116	$155	$196
Allstate	$109	$153	$215
Country Financial	$174	$201	$253
Nationwide	$129	$163	$207
Farmers	$146	$194	$263
Travelers	$244	$310	$432
Average	$143	$186	$247	—

Source: Quadrant Information Services. Rates include $100,000 in liability coverage and $1,000 in medical payments coverage.
*USAA is available only to the military, veterans and their families.

Related: Cheap Renters Insurance

What Does Farmers Renters Insurance Cover?

The types of problems covered by renters insurance are fairly standard:

Personal property: This pays to replace or repair your personal belongings, including furniture, electronics, clothing, jewelry, dishes, pots and pans, and even the little knick-knacks that decorate your home. Problems covered include theft, vandalism, the weight of snow and ice, explosions and fire.

Liability: This covers property damage and injuries you accidentally cause to others. For example, if a guest slips in your apartment and sprains their wrist and blames you, they might make a liability claim against you. Liability insurance also pays for a legal defense if you are sued because of an accident.

Medical payments: This coverage pays for small medical bills no matter who was at fault for the accident. For example, if a guest slips in your home and has a minor injury, they can tap your medical payments to cover the bill for a visit to the doctor’s office. Medical payment coverage is often included in a renters insurance policy and offered in small coverage amounts, such as $1,000.

Additional living expenses: If you cannot live in your home because of a problem covered by your policy (like a tornado or explosion), additional living expenses coverage can reimburse you for hotel bills, restaurant meals and other types of extra expenses you wouldn’t normally have. Make sure you keep your receipts in order to make a claim.

What Additional Coverage Does Farmers Renters Insurance Offer?

Farmers renters insurance includes the standard coverage types listed above, and you can also add Identity Shield. This coverage helps pay expenses associated with identity theft, such as replacing important documents. Farmers will also assist with notifying credit bureaus about the incident.

Farmers Renters Insurance Discounts

Keep an eye out for these possible discounts if you’re buying a renters insurance policy from Farmers.

Multi-policy discount if you bundle your renters insurance with another policy from Farmers, like auto, life, or umbrella insurance.
Non-smoker discount if your household has been smoke-free for at least two consecutive years.
Safety device discount if you have an approved fire alarm or electronic security system.
Occupation discount if you are a business professional such as a doctor, nurse, dentist, engineer, firefighter, police officer or teacher.

How To File a Renters Insurance Claim with Farmers Insurance

You can file a renters insurance claim with Farmers:

Online
Using the Farmers mobile app
By texting REPORTCLAIM to 29141
By calling 1-800-435-7764

More about Farmers Insurance

Farmers sells many types of insurance, including coverage for:

ATVs
Boats and watercraft
Businesses
Cars
Collectible vehicles
Condos
Houses
Life
Mobile and manufactured homes
Rideshare drivers
RVs

Methodology

To identify the best renters insurance companies, we evaluated each company based on the following.

Renters insurance rates (80% of score): We scored each company’s renters insurance rates based on national averages for policies with $15,000, $30,000, $50,000, $75,000, $100,000 and $200,000 worth of personal property coverage. Source: Quadrant Information Services.

Complaints (20% of score): We used complaints about home insurance (which includes renters insurance) upheld by state insurance departments. Most home/renters insurance complaints center on claims, including unsatisfactory settlements, delays and handling of the claim. Source: National Association of Insurance Commissioners.