ByBrian Robson Insurance and Finance Ronin

Brian Robson is one of the main refresh specialists. He specializes in finance and insurance pieces.

Farmers Insurance Business Insurance Review

With eight coverage types and over a dozen industry-specific packages, Farmers Insurance provides customizable and comprehensive insurance for nearly any size business. Claim filing is easy, thanks to simple online tools and 24/7 support teams that are just a phone call away.

Farmers does lack industry-specific packages for other commercial clients like those in health and medical fields (dentists, chiropractors, pharmacy, etc.) and other goods and services (photographers, florists, toy stores, etc.). It’s a limitation that’s hard to ignore, especially since these are common options in big-name competitors like Allstate. However, if your business falls outside of these categories, it’s still worth gathering a quote from Farmers — its policies cover everything from commercial real estate to hospitality to food trucks.

The Claim

You’re likely familiar with Farmers’ slogan from its commercials — “We know a thing or two because we’ve seen a thing or two.” Farmers promises a breadth of knowledge, good coverage, and personalized service, with “90 years of putting customers first.”

Is it true?


Whether you’re running a restaurant or a large-scale manufacturing entity, you will have plenty to work with when insuring with Farmers. It offers eight basic coverage types, plus over a dozen industry-specific packages. This makes it easy to customize your policy to your exact needs and speaks to Farmers’ promise of having “seen a thing or two.”

That said, Farmers falls short of its claim in a few notable areas. Although its coverage lineup is impressive, it fails to provide options for specific industries like health and medical fields and those working in certain goods and services. Its claim of “personalized service” is also spotty: In a J.D. Power 2018 U.S. Small Commercial Insurance Study, Farmers earned three out of five stars for overall customer satisfaction, falling below the industry average and well behind industry giants like Nationwide, Allstate, and State Farm. For a company that claims to have 90 years of experience putting customers first, these numbers are surprising; the study evaluates interaction, policy offerings, price, billing and payment, and claims, with a special focus on “personal touches and attention.”

Still, Farmers’ service has some redeeming qualities, with a 24/7 claims support network and a fleet of Mobile Claims Center buses. The buses are equipped to handle immediate claims service and provide hot meals and sundry toiletries for those impacted by large-scale disasters. If customer service is of top priority to you, or if you’re in one of the industries not covered by Farmers, you may want to steer clear; however, its bevy of customizable coverage options makes it a strong contender for anyone else searching for the best business insurance.

Product Overview

Best for

Business owners looking for customizable insurance policies

Not for

Those who prioritize top-notch customer service


Price Quotes differ from person to person
In business since 1928
Standout features Eight basic coverage types (Property, Liability, Crime, Auto, Workers’ Compensation, Umbrella, Life, Loss Control)
13 industry-specific packages
24/7 claims support
Online quote process
In-person agents across the country
A.M. Best financial strength rating A- ("Excellent")
A.M. Best issuer credit rating A- ("Excellent")
Moody's rating A2 ("Strong")

Customizable coverage options

Whatever operational risks your business faces, Farmers almost surely has coverage for you. First, choose from basic coverage options for general liability, business property, business vehicles, and workers' compensation. Then select the add-on coverage you need to protect your business from the special risks that exist in your industry. Farmers Insurance makes it easy to identify the standard coverage options common to different businesses by offering package policies for businesses in more than a dozen different industries: restaurants, retail stores, factories, offices, and many more.

Solid online tools and resources

Farmers’ online tools make it easy to handle your policy payments and initiate a policy claim. Creating an account allows you to set up an automatic payment schedule or to make individual premium payments, and the business claims tool enables you to conveniently report a loss covered under your policy at any time, day or night. And if you still have questions about the insurance process? Farmers’ resource center offers frequently asked questions and an insurance glossary.

Local agents

Farmers Insurance business policies are written and sold exclusively in locally owned Farmers agencies across the country. When you go to a Farmers Insurance agent, you’ll get expert advice from someone who knows the available policy options inside and out. What’s more, since Farmers delivers both business and personal insurance policies, your local Farmers agent is capable of fulfilling virtually all of your insurance needs.

Possible drawbacks

Lackluster customer satisfaction

In the aforementioned 2018 J.D. Power U.S. Small Commercial Insurance Study, Farmers scored below the industry average in customer satisfaction and well behind big-name competitors. While it did not score the lowest, we expected more from a provider that boasts decades of experience putting the customer first. Of course, your individual experience depends on the local Farmers agents you work with, but you may have to jump through a few more hoops when it comes to claims processing and billing.

Lacks a few common industries

While Farmers’ 13 industry-specific coverage options is an impressive number, it falls short of Nationwide’s 22 and Allstate’s whopping 36. Notably missing from Farmers' repertoire are coverage options for photographers, health and medical professions, barbershops, mail services, copy services, and legal services. If your commercial interests don’t fall in line with Farmers’s offerings, you might need to look elsewhere.

The Competition

Farmers Insurance
Our review
Our review
Our review
Our review
A.M. Best financial strength rating
A.M. Best issuer credit rating
Moody's rating
S&P Global rating

Farmers Insurance vs. Nationwide

Nationwide’s list of industry-specific packages outweighs that of Farmers, with options for veterinarians, photo studios, farms, and more. It also earned the top spot for customer satisfaction in J.D. Power’s 2018 U.S. Small Commercial Insurance Study, the only company to earn a perfect five out five score. Farmers’ only notable advantage over Nationwide is its Loss Control Insurance, which can help identify hazards and implement prevention measures. Nationwide’s Builder’s Risk Insurance is similar, but it focuses entirely on construction. If you’re looking for coverage for a riskier workplace, Farmers is likely a better choice.

Farmers Insurance vs. Allstate

Allstate tops the charts in terms of coverage options, offering over 30 industry-specific packages to choose from. However, despite this large number, it drops the ball in coverage options that might appeal to larger, wholesale industries. For these industries, Farmers is likely the better choice; it offers a wholesale business insurance package with many impressive features, including product recall expense coverage.

Farmers Insurance vs. Progressive

Progressive offers far fewer packages for specific industries, with its main focus being on general liability and commercial auto insurance. In the commercial auto insurance sector, however, it shines, with 24 commercial auto coverage options. If your business relies heavily on vehicle use — cargo transport, tow service, etc. — then Progressive is likely your best option. Otherwise, Farmers offers more coverage options for brick-and-mortar business endeavors than Progressive currently advertises.

Farmers Business Insurance FAQ

What is Loss Control?

Farmers business insurance offers a coverage option called Loss Control. This coverage is designed to help assess hazards in the workplace and provide recommendations on safety and loss prevention. Safety training materials are also provided for your employees, all in an effort to establish best practices and avoid future problems.

When should you consider workers’ compensation for your Farmers Business Insurance?

Deciding on workers’ compensation depends on the state in which you are doing business and the workers’ compensation laws therein. Depending on the state and the number of workers you have, this coverage may not be required. However, the more your business grows, the more the risk for liability will, as well.

Do I need a specific kind of business insurance policy?

Regardless of whether you’re selling gourmet chocolates or toys, Farmers business insurance for retail stores can help with property, liability, and crime insurance. You can also speak with a Farmers agent to find out how you can tailor your coverage to meet your specific needs.

What does Farmers Business Umbrella Insurance entail?

Umbrella coverage offers an additional layer of liability coverage that begins at the limit of an underlying liability policy. Purchased in $1 million increments, it can cover up to $10 million worth of protection.

The Bottom Line

Farmers offers personalized business insurance packages that appeal to a broad range of industries — everything from education to HOA. Farmers is always there to handle your claim, with 24/7 claims support and a team of local agents ready to assist.

However, if customer service is a priority for you, Farmers may not cut it; with a below-average J.D. Power satisfaction score, it may not provide the stellar service of other competitors. And if your business involves a lot of driving and vehicles, you might want to consider another provider like Progressive, which specializes in commercial auto coverage and makes available more coverage options. That’s not to say that Farmers isn’t a solid choice for most businesses — we recommend getting quotes from a few providers to see what they can offer you.

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