Farmers Homeowners Insurance Review of 2026
A homeowners quote can look reassuring until you reach the limits. Farmers is worth comparing for New York homeowners who want an agent’s help choosing coverage, but the useful questions are specific: How much would the policy pay to rebuild? What happens after a sewer backup? Which deductible applies?
Farmers lists homeowners insurance in its New York offerings. Acceptance still depends on the home and the insurer’s underwriting rules. A statewide product page is not a promise that every address qualifies.
PropertyNest’s review focuses on documented coverage, New York benefits and the price comparisons a buyer can actually use. We have not collected a current, matched sample of Farmers quotes, so we do not call an unsupported $2,000 estimate a company average.
New York homeowners insurance cost benchmarks
These historical industry averages show how premiums varied by dwelling coverage amount. They are not Farmers prices, and the building limit is not the property’s sale price. Homes within each band differ in location, construction, deductibles and other characteristics.
| Dwelling coverage amount | Average annual premium | Monthly equivalent |
|---|---|---|
| $250,000–$274,999 | $884 | $73.67 |
| $300,000–$324,999 | $1,051 | $87.58 |
| $400,000–$449,999 | $1,529 | $127.42 |
| $500,000–$599,999 | $2,011 | $167.58 |
| $700,000–$999,999 | $3,561 | $296.75 |
PropertyNest Data analysis of the NAIC Homeowners Insurance Report, Table 4: New York HO-3 policies, 2023 data published July 2026. Monthly equivalents equal annual premium divided by 12. Historical industry averages, not Farmers quotes or a PropertyNest quote sample. As of September 2026.
Farmers financial strength and service ratings
In September 2026, AM Best affirmed an A (Excellent) financial strength rating for the listed members of Farmers Insurance Group. The financial strength outlook remained stable. Separately, AM Best changed the long-term issuer credit rating outlook to positive from stable.
Those are different measures. A positive issuer outlook is not an upgrade of the A financial strength rating, and neither predicts the outcome or speed of your claim. Match the legal insurer named on your quote to the companies in the rating announcement.
We do not treat an undated J.D. Power score or complaint index as proof of superior service. A meaningful comparison needs the study year, insurance line and specific company being measured. Farmers’ online claim tools may be convenient, but convenience and claim satisfaction are not interchangeable.
What makes Farmers worth comparing?
Farmers markets several ways to tailor homeowners coverage, including protection for rebuilding costs and specific property risks. That makes it a useful quote candidate for an owner willing to work through the endorsements with an agent.
The limitation is that a package name does not tell you what your particular policy includes. Ask for the coverage summary, exclusions and endorsement forms before choosing. Do not assume that every New York buyer can select the same three packages or receive the same limits advertised elsewhere.
The price test is equally practical: obtain equivalent quotes and compare the final annual cost. Having more discounts on a website does not establish that an insurer will be cheaper for your home.
What does Farmers homeowners insurance cover?
Farmers’ homeowners overview describes the usual building, personal property, liability, medical payments and loss-of-use protections. The building section concerns the house and attached structures; check the separate coverage for a detached garage, shed or fence.
Personal property coverage helps repair or replace covered belongings. Ask whether settlement deducts depreciation and whether replacement-cost coverage requires an endorsement. Loss of use can help with qualifying additional expenses while covered damage keeps you out of the home. Medical payments offer limited protection for qualifying injuries to others; liability coverage serves a different purpose.
These protections have limits, deductibles and exclusions. They do not cover every resident’s possessions without qualification or every injury that occurs at the address.
Flood and sewer backup are different purchases
Farmers’ flood insurance guidance explicitly describes a separate policy. Standard homeowners insurance generally excludes flooding from outside water. Buying flood insurance through a Farmers agent does not turn it into part of the ordinary homeowners policy.
Building and contents flood coverage are purchased separately and have separate deductibles. Basement contents also face important restrictions. Ask what the flood policy would cover in the lowest level of your particular home, rather than assuming that a finished basement is fully protected.
Sewer and drain backup is another question. Farmers lists an optional backup coverage; ask for its dollar limit, deductible and exclusions. A sudden leaking appliance, backed-up drain and rising floodwater can require different coverage.
Earthquake damage is generally excluded from ordinary homeowners insurance. Coverage may require an endorsement or separate policy. Our guide to homeowners and earthquake insurance explains the distinction.
Additional protection to discuss with an agent
Farmers’ published coverage options include ordinance-or-law protection for certain code-related rebuilding costs, scheduled coverage for valuable possessions and Identity Shield services. Get the actual policy form and price for any option you want; do not assume an old identity-theft dollar limit applies to a new quote.
Give the agent a realistic picture of how the home is used. Mention a home business, rented space, major renovations and valuable collections. A policy selected without those details may leave a mismatch between what you own and what is insured.
What does 25% extended replacement cost mean?
Farmers describes an extended replacement-cost option that can pay up to 25% above the stated dwelling limit for a covered rebuilding loss. It also lists a guaranteed replacement-cost option, subject to eligibility and policy conditions. The two should not be confused.
The calculation below shows the arithmetic for the 25% option. It is an illustration of a coverage ceiling, not a quote or a guaranteed claim payment. Deductibles, exclusions and endorsement conditions still matter.
| Example dwelling limit | Additional 25% | Illustrated ceiling |
|---|---|---|
| $200,000 | $50,000 | $250,000 |
| $300,000 | $75,000 | $375,000 |
| $400,000 | $100,000 | $500,000 |
| $500,000 | $125,000 | $625,000 |
PropertyNest Data calculation using the 25% extension described in Farmers’ coverage options: stated limit × 1.25. Illustrative limits only; availability, eligibility and policy conditions apply. This is not guaranteed replacement cost or a claim payment estimate. As of September 2026.
Discounts and benefits for New York homeowners
Farmers’ New York page names multi-policy, protective-device and non-smoker discounts. It also describes the benefits below. Ask which are included in your quote, which require an optional package, and how their rules apply after a claim.
| Benefit | Published amount or threshold | What the number means |
|---|---|---|
| Declining Deductibles | $50 per year | Credit earned toward the deductible |
| Claims Free Discount | 3 claim-free years | Qualifying history for the discount |
| Claim Forgiveness | 5 claim-free years with Farmers | Eligible claim does not itself raise the premium |
Source: Farmers’ New York homeowners page. Confirm the benefits, costs and eligibility in your quote. Claim forgiveness does not freeze rates or prevent increases for other reasons. As of September 2026.
The national Farmers discount list includes additional possibilities such as payment arrangements, paperless delivery, qualifying affiliations and certain home features. It expressly says availability varies by state and policy. An old count of five discounts is not a reliable shopping guide.
Ask for the final annual home premium and, if relevant, the combined home-and-auto total. Check whether optional benefits increase the price before their savings are applied. Keep enough cash available for the deductible you select.
How to file a Farmers homeowners claim
The Farmers Claims Center is available at 800-435-7764, 24 hours a day, seven days a week. Farmers GroupSelect customers have a separate 24/7 claims number: 800-854-6011. Use the contact shown on your policy when the underwriting company or program differs.
General customer care is separate: Farmers lists 888-327-6335, with hours of 7 a.m.–11 p.m. weekdays and 8 a.m.–8 p.m. weekends, using the Central time designation on its contact page. You can also message the company after logging in or contact your agent.
Farmers’ home claims guide explains online reporting, claim review and repair options. Its portal supports receipt uploads, payment information, claim letters and status tracking. Photograph the damage, keep records of emergency expenses and take reasonable steps to prevent further damage when safe.
Filing is the beginning of the process. The adjuster still needs to establish the cause of loss, applicable coverage, scope of damage and settlement amount. A financial strength rating or a quick online reporting form does not guarantee that a disputed claim will be paid.
Changes homeowners should know about
California availability and rates
Farmers removed its California cap on new homeowners policies in November 2025. The previous cap was 9,500 new policies a month. Applicants still must meet underwriting requirements.
In a May 2026 announcement, Farmers said its approved California rating plan would take effect September 15, 2026, for Smart Plan Home and Next Generation Home customers. It described a 1.5% statewide average rate increase and a home-and-auto package discount rising from 15% to 22%, along with wildfire-mitigation savings. Individual changes vary. These California figures are not New York prices or discounts.
The 2025 data breach notice
The California attorney general’s public record lists a May 2025 breach involving Farmers Insurance Exchange, Farmers Group and affiliated entities. The state’s notice index records its reporting in August 2025. Affected customers should refer to their own notification for the information involved and any assistance offered. We have not independently verified a current count of affected homeowners or subsequent misuse.
Farmers compared with Amica and Allstate
Use these comparisons to identify differences worth pricing in your own quote.
Farmers vs. Amica Mutual
Amica’s Platinum Choice homeowners coverage advertises additional rebuilding protection up to 30% above the dwelling limit. Farmers’ published extended replacement-cost option uses 25%. Those percentages are useful starting points, but they do not settle the comparison: confirm the applicable New York forms, eligibility, base limit and exclusions.
On the same $400,000 dwelling limit, 30% would add $120,000, while 25% would add $100,000. That is a PropertyNest calculation of the stated percentages, not a claim estimate or proof that either package is better overall.
Amica also offers dividend and traditional policies. It says dividend policies may cost more up front and that dividends are not guaranteed. Compare the premium you must pay before considering a possible dividend; do not subtract an assumed refund as though it were a guaranteed discount.
We have not verified comparable quotes establishing that Amica costs $140 a month while Farmers costs $165. Request both using the same property information and coverage priorities.
Farmers vs. Allstate
Allstate provides a useful comparison for deductible benefits. Its optional Deductible Rewards feature describes a $100 signup credit and another $100 for each claim-free year, up to $500. Farmers’ New York materials describe earning $50 toward a deductible each year. Ask each insurer how the benefit applies, what it costs and what happens after a claim.
Compare the resulting policy price, not just the possible credit. A benefit you may use later does not necessarily justify a higher premium today. Also compare roof settlement, backup coverage and the amount available if construction costs exceed the dwelling limit.
Neither company’s homeowners policy should be presented as automatically including flood insurance. And Farmers does have a 24/7 claims telephone line, so lack of round-the-clock claims reporting is not a valid reason to favor Allstate.
For more detail, read our Allstate homeowners insurance review. We do not assert that Allstate is more expensive without matched quotes.
PropertyNest’s assessment
Farmers belongs on the shortlist for New York homeowners who want to discuss tailored coverage with an agent. Its documented rebuilding options and New York policy benefits give you concrete features to compare.
The decision should turn on the offer for your house. Request at least three quotes using the same rebuilding estimate, deductibles and coverage needs. Compare the combined home-and-auto cost if bundling, and keep flood insurance, backup coverage and valuable-item protection visible as separate decisions.
For broader cost context, see our guide to homeowners insurance rates. An older national estimate should never substitute for an individualized quote.
How PropertyNest reviewed Farmers
PropertyNest reviewed Farmers’ coverage, New York benefit, claims and contact materials; AM Best’s September 2026 action; official California notices; and the NAIC homeowners report. The tables distinguish historical industry averages from PropertyNest calculations. We did not collect a current Farmers quote sample or conduct a customer-satisfaction survey. Availability and coverage remain subject to the insurer’s underwriting and policy terms.
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