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Farmers Commercial Truck Insurance Review


ConsumersAdvocate.org Rating: 4.5 / 5 (Excellent)
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Farmers Insurance provides property and casualty insurance products, including commercial truck policies, to individuals and corporations. Founded in 1928, Farmers is one of the major insurers in the industry, with nearly 21,000 employees and over 19 million individual policies written a year. Farmers has three insurance exchange subsidiaries, including the Truck Insurance Exchange, which focuses on the particular insurance needs of commercial trucks.
 
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How is Farmers Insurance rated?

Breakdown

4.5/5
Coverage
4.5/5
Total Costs
4.5/5
Extras

Overall Rating: 4.5 / 5 (Excellent)

Farmers Insurance gets high marks for its low complaint ratio and its wide variety of customized products. Really setting them apart is their policyholder-owned subsidiary, Truck Insurance Exchange, that allows them to meet the specific needs of the trucking industry. They have several other unique features, such as specialized coverage for food trucks, diesel or fuel-carrying vehicles, and a long list of available discounts making them a solid choice in the commercial truck market.

Farmers Insurance Coverage Options

Coverage - 4.5 / 5

There are several factors that set Farmers apart from other major insurers. The company has comprehensive coverage specifically tailored to commercial trucks through its subsidiary, Truckers' Insurance Exchange. Additionally, it has specific policies for food trucks, combining its truck coverage with business liability for restaurant protection.

Basic Coverage

Liability
Bodily Injury
Property Damage
Uninsured/Underinsured Motorist
Medical Payments
Collision
Comprehensive
Types of Vehicles Covered
Cars
SUVs
Pickup Truck
Utility Vans
Bucket Trucks

Additional Coverage

  • Loading & Unloading
  • Towing & Labor Costs
Truck-Specific Coverage
Rental Reimbursement with Downtime

Farmers Insurance Pricing & Discounts

Total Costs - 4.5 / 5

Farmers offers a variety of discounts, including multi-policy, loyalty, multi-car, and safe driver discounts. Depending on the state, it can also provide discounts for safety features a vehicle might have.
Online Quote
Yes
Discounts
Package or Multi-Policy Discounts
Good Driver Discount

Farmers Insurance Financial Strength

Financial Strength - 4.4 / 5

Both Farmers Insurance Group and its subsidiary, Truck Insurance Exchange, get excellent ratings from every major credit agency. Additionally, its owner, Zurich Insurance Group, is one of the world's largest insurers and recognized for its financial stability.
Standard & Poor's Financial Rating
A
Moody's Financial Rating
A2
AM Best Financial Rating
A+
Year Founded
1928
Company Type
Subsidiary/ Partner
Underwriter
No

Farmers Insurance Customer Experience

Extras - 4.5 / 5

Farmers enjoys an A+ score from the Better Business Bureau and a clear record (zero complaints) from the National Association of Insurance Commissioners. Although there are 690 complaints listed in the Better Business Bureau website, this is not unusual for a company this size and they appear to have been resolved satisfactorily.
BBB Rating
A+
Number of BBB Positive Reviews
3
Number of BBB Negative Reviews
20
Trustpilot Rating
6.1 out of 10
NAIC Complaint Ratio 2017
0.0
NAIC Total Complaints 2017
0

Company Profile

Full Name
Farmers Commercial Truck Insurance
Company Website
https://www.farmers.com/business/auto-insurance/
Headquarters
6301 Owensmouth Avenue, Woodland Hills, CA, 91367
Mailing Address
6301 Owensmouth Avenue, Woodland Hills, CA, 91367

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Top Rated
Our Partner
  • Business insurance broker that works with well-regarded insurers
  • Offers Cyber, Business Owners Policy (BOP), General Liability, Professional Liability (Errors & Omissions), Workers Compensation, Commercial Auto, Directors & Officers
  • Operates in all 50 states plus DC
  • Connects to customers via web interface or phone
  • Produces competing insurance offers for customers to choose among
  • Focuses on small- to medium-sized businesses
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