HomepageInsuranceRentersFarmers Renters Insurance Review
Last updated on May 19, 2020

Farmers Renters Insurance Review

Farmers offers adequate renters insurance coverage, but with limited discounts and poor service. ​
We recommend products and services based on unbiased research from our editorial team. We may receive compensation if you click on a link. Read More.


  • Higher than average premiums
  • Only a few discounts
  • Poor customer service ratings
  • Average coverage options
  • Few online tools and resources
Similar Products

How We Reviewed Farmers Renters Insurance

related highlight icon

6 companies compared

related highlight icon

4 features evaluated

related highlight icon

3 ratings analyzed

Farmers Insurance offers renters insurance for customers in all 50 states. But across the board, Farmers has average ratings at best. The company offers standard coverages for personal property, liability, medical payments and loss-of-use. Customers can also customize their policy with electronics and identity theft coverage.

Farmers isn’t rated highly in terms of the price of their policies. Discount options are limited when compared to other companies as well. In addition, we found that Farmers doesn’t provide many tools or resources.

When it comes to customer service, Farmers is rated quite poorly, receiving just a 2-star rating from J.D. Power’s 2019 U.S. Renters Insurance Study. Additionally, Farmers has an above-average complaint rate from NAIC. Because of that, Farmers may not be a great company for someone who values good customer service.

  • Average coverage options
  • Widely available

  • High rates
  • Poor customer service
  • Few online tools

The Renters Insurance Factors We Analyzed

Customer experience

Farmers’ customer service leaves something to be desired. Their customer service interactions scored 2-stars in the J.D. Power study, which is below average. However, the company’s overall satisfaction score in the J.D. Power 2019 Property Claims Study earned 3-stars, which is about average. 

In terms of customer experience, we found Farmers’ website somewhat difficult to navigate. For instance, the site describes the situations that renters insurance would cover, but doesn’t actually list out the specific types of coverages. Online tools or resources are also limited, although Farmers does have a mobile app.

Financial strength 

On the plus side, Farmers has good financial strength and ratings. The company has an A rating from AM Best, which is considered ‘excellent.’ 

Strong financials is a good indicator as to whether a company will be able to reimburse you after a covered loss.

Coverage information

Farmers offers renters insurance with the standard coverages you’ll find from most providers, including personal property, liability, medical payments, and loss-of-use coverage. For even more protection, customers can choose to purchase additional coverage for electronics and identity theft restoration. 

We like that Farmers offers replacement cost coverage for certain policies, if you’re willing to pay more for your premium. 

While Farmers does offer good basic coverages, other companies offer additional endorsements or add-on policies. For example, Nationwide offers nearly twice as many coverage options as Farmers.

Deals, discounts, and add-ons

When it comes to discounts, Farmers only offers the bare minimum compared to companies, such as American Family

Discounts are available for customers who bundle their policies, have safety systems installed in their home, and those who live in a smoke-free home. In certain states, professionals such as doctors, nurses, engineers, teachers, and first responders may qualify for a discount.

Some customers will be able to claim these discounts, but it’s also important to note that Farmers doesn’t offer the cheapest rates to begin with. 

In J.D. Power’s 2019 Renters Insurance Study, the company got a 2-star rating for price. American Family, on the other hand, earned the top spot with a perfect 5-star rating.

Farmers Renters Insurance Overview: Financial Strength, Availability, and History

Farmers was founded in 1928. Today, they’ve sold over 19 million individual insurance policies to customers around the country. The company employs more than 48,000 exclusive and independent agents. 

Farmers also consistently earns strong financial ratings. Overall, the general public has a good perception of Farmers. The company has an A+ rating from the Better Business Bureau (BBB) and only 9% of people have a negative opinion of the company, according to YouGov.

  • In business since: 1928
  • S&P Global financial strength rating: N/A
  • Moody’s financial strength rating: N/A
  • A.M. Best financial strength rating: A
  • States served: 50

The Competition

AM Best Financial Strength Rating
J.D. Power 2019 U.S.  Renters Insurance Study Score
NAIC Customer Complaints
More claims than average
Fewer complaints than average
State Farm
Fewer complaints than average
American Family
Fewer complaints than average
Fewer complaints than average
Fewer complaints than average

All information accurate as of January 10, 2020.

The Bottom Line

Farmers wants to make the insurance experience as personalized as possible. The company provides customer service in several ways. You can ask questions or file claims through the large network of local offices and independent agents, phone support, online chat, the mobile app, and the clear and easy-to-navigate website.

Besides a personalized customer experience, their individualized service includes rental insurance products that can be customized according to your needs. There are no preset rental insurance plans, so you can choose what suits your needs best. You can also adjust your deductible to cover the events you’re most likely to be affected by without overpaying for a standard, lower-deductible plan. While we always recommend pulling quotes from multiple insurers to see which offers you the best price, Farmers’ track record makes it a worthy contender.

Farmers Renters Insurance FAQ

About the Authors

Elizabeth Rivelli

Elizabeth Rivelli Contributing Writer

Elizabeth Rivelli is a Rhode Island-based copywriter and content marketing consultant. She has expertise writing about home, auto and business insurance, and has been published in widely-read publications, including the Simple Dollar, Bankrate and Decision Data. Elizabeth holds a BA in Communications from Northeastern University in Boston.