Is Farmers a good insurance company?

UPDATED: Sep 6, 2011

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UPDATED: Sep 6, 2011Fact Checked

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Asked September 6, 2011

1 Answer

Farmers Insurance Company was founded in 1928 as an insurer of privately owned automobiles. Today, the company employs more than 18,000 people, not including hundreds of independent agents. They are the third largest writer of auto insurance policies in the country, with more than 15 million policies currently in force.

Financial Rating
A.M. Best, one of the leading financial ratings companies, gives Farmers insurance an A (excellent) rating. This rating indicates that the company is financially stable, but reflects losses in assets over the past few years, largely due to economic circumstances surrounding world financial markets.

Customer Satisfaction
Customer satisfaction is difficult to assess, but farmers Insurance ranks at between 21 and 37 percent in online customer reviews and satisfaction polls. These ratings can be used to give you a general idea about the overall customer satisfaction with company policy and service, but it is important to note that online surveys of this type may be skewed toward the dissatisfaction side of the fence, due to the fact that unhappy customers are more likely to post scathing reviews than happy ones are to post positive experiences.

Farmers Insurance Reviews

Company Availability
Farmers Insurance is available in 41 states. This indicates a much higher market percentage in their states of operation, because the company is the third largest auto insurance writer overall in the whole country. For those shopping for new insurance, this fact means that farmers insurance may have an office in your area, or an independent agent who is available to help you get the best coverage.

The Bottom Line
Farmers Insurance is not as well rated as other leading companies, but is still among those that can be considered a trustworthy company to do business with. Potential customers and investors alike can rest assured that the company is going to be around for years to come, and that any policies or investments are contracted with a company that can be depended on.

Answered September 6, 2011 by Anonymous

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