Farmers Residence Insurance Evaluation 2021 – Forbes Advisor – Forbes

Farmers Insurance was founded in 1928 and today offers more than 19 million individual insurance policies for 10 million households in all 50 states. Farmers is the number 4 largest home insurance company in the country.

Farmers home contents insurance comes with these standard types of coverage:

  • Housing coverage pays for damage to your home and its attached structures, such as a deck.
  • Covering other structures pays for damage to other structures on your property such as sheds and fences.
  • Personal property protection pays for damage to or theft of personal effects, including clothing, furniture, and electronics.
  • Liability insurance pays for personal injury and property damage to others. For example, if a guest slipped on your sidewalk. It also pays off in legal defense if you are sued for an accident.
  • Additional coverage for living expenses pays additional costs such as restaurant meals and hotel bills if you cannot live in your home due to an issue covered by your policy such as a tornado or fire.

In addition to home contents insurance, Farmers also sells roof insurance as well as condominiums, tenants, mobile and prefabricated houses, holiday homes, vacant apartments and landlord insurance.

Farmers Home Insurance add-on options include:

  • Extended replacement cost coverage which covers 125% or 150% of your home coverage if the cost of repairing your home is higher than your insured amount.
  • Guaranteed replacement cost coverage is a gold standard in home insurance that gives you unlimited coverage for the costs necessary to repair or rebuild your home. This coverage is valuable if there is a widespread disaster in your area that causes local construction costs to skyrocket.
  • Identity tag offers both credit monitoring and identity theft protection services.
  • Earthquake insurance Covers structural damage and your personal property if your home is damaged by an earthquake.
  • Flood insurance covers damage to your home and / or personal effects due to a flood.

Comments are closed.