Farmers insurance group

An insurance and financial services products providing company formally renowned as Farmers worldwide. This company established in the year 1928, Los Angeles, California, U.S. The establishers of this company John C. Tyler and Thomas E. Leavey first met in California.

One of them (Tyler) was the son of a  South Dakotan insurance salesman, and the other (Leavey) had already worked with the National Farm Loan Association and  Federal Farm Loan Bureau.

So, it was a perfect combination because of its old relationship with insurance. According to Tyler and Leavy, the motivation for establishing this company came from farmers and ranchers who as compared to the urbanities had a better driving record, but still paid high insurance fees.

They received a loan from the founder of Bank of America and started working on the establishment of a company that secures farmers, ranchers, and other rural drivers’ money and future. It was not long enough that Farmers Insurance Group introduced its auto insurance services within the market.

PROS AND CONS OF FARMERS INSURANCE:

 

StrengthsWeaknesses
A.M. best rating of ANot for high risk drivers
Diverse DiscountsNo 24/7 customer services
Farmers Reward Visa
Varied coverage

Farmers Insurance Discounts

Multi-Car Discount:

Discount for driving multiple vehicles (any type of bikes, car, truck, etc.) under the same policy.

Teen Driver:

Any person, who for his children and grandchildren has bought Farmers auto insurance will enjoy a grand discount price for a life-time.

Homeowners Discount:

This discount covers the population that owns its own house ( such homeowners will receive discounts on their car insurance).

Bundling Discount:

Bundling discount or simply “Double Discount”. Anyone with this insurance package will avail discounts on auto and home insurance.

Distant Student:

Students having institutes (schools, colleges, universities) about 100 miles away from their current location can avail distant student discount.

Safety Equipment Discount:

If your car has Traction control, Tire-pressure monitors, Safety-belt, or any other safety equipment installed, you are eligible for receiving Safety Equipment Discount.

Inexperienced Driver Training Discount:

Anyone having driving experience less than 9 years will be eligible for this discount after finalizing California’s held Driver Safety Program.

Defensive Driving Course Discount:

Defensive Driving Course is a state-certified course. Any person of any age is eligible for this course. The one who completes the course will receive discounts on his auto insurance rates. Also, this course is organized in Kentucky specifically.

Youthful Driver Discount:

Unmarried drivers under 25, have the privilege to avail Youthful Driver Discount. In many states along with being under 25 and unmarried the person must be a licensed driver straight for one year.

This discount is restricted for people (under 25 and unmarried) who for the first time appear under conditions where they have encountered accidents or in case of other driving rules violations.

Good Student Driver Discount:

Allowing youngsters ( under 25) to drive is risky and important at a time. There are students who can’t avail of other transport services and tend to use personal vehicles to fulfill their transport requirements.

Therefore, Farmers Insurance held a policy for young students where they must satisfy the following criteria to avail Farmers auto insurance:

  • The student must maintain a grade of 3.0/4.0 minimum.
  • Must be among the top 20 students of the class
  • Maintain a minimum B grade in his overall performance in the institute.
  • Achieves Deans List award

 

Anti-Lock Brakes Discount:

Anyone having installed Four-wheel ABS is eligible for this discount.

Business and Professional Groups Discount:

Many states within the united states offer discounts on insurance rates for being a part of professional groups as teachers, police, nurses, etc.

New Car Credit Discount:

Anyone who drives a car’s recent model or a newly released car will be eligible for receiving New Car Credit Discount. Also, the offer is limited to Illinois.

Alternative Fuel Discount:

This discount is for people whose car can be fueled in alternative ways as

  • Methanol
  • Propane
  • Ethanol
  • Compressed natural gas

Or other sources.

Anti-Theft Device Discount:

Customers with their cars having Anti-Theft devices installed enjoy ultra-discount in their auto insurance rates.

Loyalty Discount:

This discount offer is for California specifically. People who’ve been members of farmers for 3 years or more are qualified to avail of this discount.

Shared Family Car Discount:

Any family member who is an active driver in 20 years of age or younger is eligible for this discount.

Good Driver Discount:

This discount is for people having experience of 3 years or more and had renewed their Farmers auto insurance membership without any gap are eligible for this discount.

Good Payer Discount:

Making payments on time will make you eligible to gain this Great Good Prayer Discounts on your auto insurance.

On Your Own Discount:

If you’ve been a member of Farmers auto insurance through your parents and later on officially become its member on your own then you will enjoy a discount in your insurance rates.

Senior Defensive Driving Course Discount:

People 55 or above who have passed the Motor Vehicles driver safety courses are rewarded discount.

Active Military Discount:

Employees of Active Military Discount who are permanent residents of Louisiana are eligible for this discount. They can avail of this service even if they are overseas or out of the state.

Claims-free Renewal Discount:

People who have been members of Farmers Insurance for many years and were safe drivers ( did not violate driving rules, did not encounter any accidents) can gain discounts on every renewal.

Transfer Discount:

People who transfer to farmers’ insurance from some other insurance company will get a discount on purchasing a membership.

Mature Driver Discount:

Drivers who are 55 or above who have completed a state-approved driver safety courses are eligible for this discount.

This discount is available in:

  • Arkansas
  • Alabama
  • Connecticut
  • California
  • Colorado
  • Illinois
  • Idaho
  • Louisiana
  • Kentucky
  • Michigan
  • Maine
  • Montana
  • Maryland
  • Mississippi
  • Minnesota
  • New Hampshire
  • North Dakota
  • Nevada
  • New Mexico
  • Oregon
  • Ohio
  • South Dakota
  • Pennsylvania
  • Utah
  • Tennessee
  • Vermont
  • Virginia
  • Wyoming
  • Washington