Foremost specializes in covering homes that are older or have visible damage. The company is also willing to take on homeowners who have bad credit or a history of claims. If you’ve been turned down by standard insurers, or your current company won’t renew you, Foremost home insurance could be a good fit for you.
- Accepts people with poor credit or multiple claims
- Will cover homes that are older or lower in value
- Insures homes with visible cosmetic damage
- Insures vacant homes
- In business since 1952
- More expensive than lower-risk insurance
- Mixed customer reviews
The Home Insurance Factors We Analyzed
Pricing for a homeowner’s policy through Foremost is likely to be higher than standard carriers because this company specializes in hard-to-insure houses and homeowners. You can probably find a better price if you’re able to buy a standard policy elsewhere.
Two of the most significant factors that influence your premium are your home’s location and replacement cost. The age and condition of your home also have a considerable impact on price.
You can customize your coverage and tweak the price by choosing a higher deductible or lower liability limits. If you select a policy that covers the full replacement cost of your property, you’ll pay a little more.
Foremost offers discounts for multiple policyholders, so if you have another property or a vehicle to cover, you could save some money.
Customers seem to be having mixed experiences with Foremost. The firm, however, has fewer customer complaints about its homeowner’s insurance products than its peers, according to the National Association of Insurance Commissioners. Their reviews online are also very mixed. The Better Business Bureau redirects all inquiries to Farmer’s Insurance, which is the parent company of Foremost. The Farmers Group has over 600 customer complaints and poor reviews on the BBB site.
The process of buying Foremost home insurance varies by state. Some customers are able to get an online quote, but in many states the website can only direct you to a local agent. All customers can access their documents using online tools after buying a policy, though. You can also pay your bill online or set up automatic payments.
Foremost’s homeowner’s policy provides basic comprehensive coverage of your home and property. Liability coverage is also included, in case a visitor to your home is injured or their property is damaged. If you want more coverage, you can upgrade to a full replacement cost policy. If you have a home-based business, you can add business property and liability to your policy.
To determine how much coverage you need, make an inventory of your personal property and estimate its total value. If you own expensive objects like jewelry, electronics, furs, or business equipment, have each article appraised and talk to your agent to be sure you’re covered for their full value. Photograph the appraisals, any receipts, and the items themselves and store those records somewhere outside your home.
The Bottom Line
Foremost is a lifesaver for people who can’t get insurance elsewhere. The company specializes in covering older or lower-value homes and those with cosmetic damage. People who are denied by standard carriers because of credit issues or a history of claims can also turn to Foremost for a policy.
Although some customers have shared complaints about their experience with Foremost and its parent company, Farmers Group, the BBB still gives the company an overall rating of A+. If you need a homeowner’s policy and can’t find it elsewhere, Foremost insurance has you covered.
Foremost Homeowners Insurance Overview: Financial Strength, Availability, and History
Foremost has been in business for 65 years. The firm is part of the Farmer’s Insurance Group and works with more than 38,000 agents across the United States. Foremost pioneered mobile home insurance in the early 1960s, and was chosen by AARP to provide mobile home and motorcycle insurance to its members.
- In business since 1952
- S&P Financial Strength Rating: A
- Moody’s Financial Strength Rating: N/A
- AM Best Financial Strength Rating: A
- States served: All 50 states plus Washington DC
|AM Best Financial Strength Rating||J.D. Power 2019 U.S. Home Insurance Study Score||J.D. Power 2020 U.S. Property Claims Satisfaction Study Score||NAIC Customer Complaints|
|Foremost Homeowners Insurance||A||N/A||N/A||Fewer complaints than average|
|Amica Mutual||A+||5/5||902/1000||Fewer complaints than average|
|Country Financial||A+||3/5||N/A||Fewer complaints than average|
|Progressive||A+||3/5||867/1000||Fewer complaints than average|
|Allstate||A+||3/5||882/1000||More complaints than average|
|American Family||A+||3/5||881/1000||More complaints than average|
|Liberty Mutual||A||2/5||877/1000||Fewer complaints than average|
*All information accurate as of June 27, 2020.
How We Evaluated Foremost Homeowners Insurance
We based our methodology on a profile developed by the Reviews.com team based on a family of three with an annual income of $70k with a dwelling cost of $320,000 to determine the average premium for customers. We then evaluated the companies based on their customer rating and experience, cost, financial stability, and coverage to determine the best providers.
Foremost Homeowners Insurance FAQ
Foremost offers coverage for landlords, vacant properties, and mobile homes. You can also get insurance for your auto, boat, RV, scooter, and other recreational vehicles — Foremost will even cover your golf cart. Bundling more than one policy will help you get lower rates on all your insurance.
To determine how much coverage you need, estimate the total value of your home and belongings. Create a home inventory, cataloging big-ticket items like your appliances, electronics, and jewelry. In addition to the depreciated value of your property, consider how much it would cost you to replace your home and its contents at today’s prices.
Foremost Insurance is available in all 50 states and Washington, DC. The exact products, options, and coverages available vary by state.
Foremost does not rely on a partner network for underwriting its homeowners’ policies — although it does partner with Bristol West to offer auto insurance. Foremost is a member of the Farmers Insurance Group of Companies.
Foremost home insurance covers your home and property against most physical losses that aren’t explicitly excluded. For example, if you live in a known flood zone, you’ll need to purchase a separate flood policy. Coverage also includes liability for damages or injuries to people who visit your home and their property.