Frequently Asked Questions About
Commercial General Liability Insurance
How much does small business insurance cost?
Costs can vary widely based on industry and are also determined by zip code and often payroll and/or gross sales. Request a free quote to get an exact number. (read more)
What kind of business insurance do I need?
Most business owners need General Liability Insurance at the very least. If you have any non-owner employees, you will need workers compensation insurance too.
What is a Certificate of Insurance?
A Certificate of Insurance is proof of coverage. It lists the type and amount of liability coverage you have and other policy information when a third party requests it. (read more)
Is business insurance tax deductible?
Yes. you can deduct the cost of commercial insurance premiums. The IRS considers insurance a cost of doing business as long it benefits the business & serves a business purpose.
Farmers Small Business Insurance Reviews
Farmers Small Business Insurance Reviews 2019 (Ratings, Complaints & Coverage). Farmers Insurance Group is a subsidiary of Zurich Financial Services. It was founded in 1928 as an insurer of privately owned automobiles. Farmers is currently the third largest personal auto and home insurer in the country. Farmers is headquartered in Los Angeles, California.
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. Like most big insurance companies, they have had their challenges regarding claims handling.
If you are a small business owner looking to buy liability insurance, read Farmers small business insurance reviews to learn about Farmers Insurance's products.
Check out Farmers reviews, ratings, complaints & coverage for general liability, workers compensation and other small business insurance commercial policies.
Small Business Insurance Coverages Offered By Farmers
The Farmers small business insurance reviews on the Internet are positive and negative. Farmers insurance delivers more than a dozen industry packages in business sectors as diverse as auto repair, education, retail, and construction. These packages are designed to address the special needs of small and mid-size businesses generally, while including flexible additional coverage options to address all the special risks your business faces:
Commercial Auto: Farmers insurance offers various coverages including accident forgiveness, new car pledge, personal umbrella, towing and roadside assistance, glass repair services, car rental reimbursement, and extended customized equipment coverage. Farmers business insurance ratings are mixed for business auto.
General Liability: General liability policies from Farmers insurance cover your defense and any damages should you, an employee, or one of your products or services cause injury or property damage to someone. And while it's generally safe to assume that you and your employees would never wittingly harm someone or their property, accidents do happen. Farmers commercial reviews are ok for GL.
Professional Liability: Also know as errors and omissions insurance. Some small business' main service is to offer professional advice and consulting services to clients. While a business of this kind gives advice to clients with good intent, if something goes wrong based on that advice, the business runs the risk of being sued. Professional liability insurance protects a small business against damages that may arise from claims of malpractice, negligence or wrongdoing.
Business Property: If you own a physical space in which you conduct business - from a building to a home office - you need this coverage. It will protect you from fires, vandalism, theft, storm damage, smoke damage, etc. Even if you rent, you need property insurance to protect your equipment, inventory, etc.
Workers' Compensation: Workers' comp insurance covers lost wages and medical expenses if an employee is injured or becomes sick as a result of their employment with your business. Different states have different requirements for what level of coverage is required, so it's a smart idea to study these laws before making a decision regarding the policy you purchase.
Business Umbrella: Your commercial umbrella policy steps in when your primary liability policy has been used up in the payment of claims. It should provide broader coverage than your primary policy. That is, if you have purchased general liability, auto liability and/or employers liability coverages, your umbrella policy should apply on an excess basis over those coverages.
Famers Financial Stability
Top financial ratings agencies give Farmers Insurance relatively high marks, pointing to a stable long-term financial outlook for the company. Moody's gives Farmers Insurance an A2 rating, which indicates the company is fully capable of meeting its long-term financial obligations. A.M. Best gives Farmers Insurance a Financial Strength Rating of A, corresponding to an excellent financial outlook and a stable future.
Famers Commercial Customer Service
Farmers has a customer service staff that provides helpful support all over the country and can advise businesses on a variety of insurance options. They have a large customer service staff so customers experience low wait times and get to work directly with an individual throughout the course of their claims process.
Farmers Insurance is Better Business Bureau accredited and has been since 1951. On the BBB website, it has received 3.96 out of 5 stars based on 14 Customer Reviews and a BBB Rating of A+.
Farmers also ranked "about average" for overall purchase experience for auto insurance in J.D. Power's 2016 U.S. Insurance Shopping Study. It ranked "about average" for overall satisfaction in J.D. Power's 2016 Auto Claims Satisfaction Study. Farmers ranked "about average" for overall satisfaction in J.D. Power's 2016 Homeowners Insurance Study. It also ranked "about average" for overall customer satisfaction in J.D. Power's 2016 Property Insurance Claims Study. Farmers small business insurance reviews are average here.
Farmers Insurance Claims
To file an insurance claim, policyholders enjoy the convenience of reporting preliminarily through its online portal. After the claim is received, you will be assigned to the nearest local representative. For all third-party claims, reports must be made through the Farmers Claim Center phone number.
You can also visit the customer service section, where you can ask policy-related questions, has more limited hours, however. Plus there's a mobile app for handling your accounts. Farmers small business insurance reviews are below average for claims.
Farmers Ratings Online
Following are some ratings found online which appear mixed:
- BBB.org - The Better Business Bureau rates them 3.89 out of 5 stars.
- ConsumerAffairs.com - Consumer Affairs rates them 2.0 out of 5 stars.
- glassdoor.com - Glass Door rates them 3.4 out of 5 stars.
Farmers's Contact Information
Address: 6301 Owensmouth Avenue, Woodland Hills, CA 91367
Other companies owned: Coast National Holding Company, Bristol West Insurance Services Inc., Farmers Group, Inc., Act One Insurance, Foremost Insurance, Farmer's Insurance, Farmer Insurance, Bristol West, 21st Century, Farmers Small Business, Foremost Small Business, Coast National Insurance Company, Security National Insurance Company, and Timothy Wright Insurance Group.
The Bottom Line On Farmers Commercial
Farmers Insurance has competitive rates and good customer service. Insuring with them may get you good policy, especially if you can bundle many products together and get some good discounts. It is best-suited for individuals, families and businesses that have complicated insurance portfolios and need the help of an agent to get adequate protection.
More Commercial Insurance Company RatingsSmall Business Insurer Ratings:
- ACE Group
- Applied Underwriters
- Colony Specialty
- Fireman's Fund
- Hartford Steam Boiler
- Jewelers Mutual
- Liberty Mutual
- Markel Insurance
- Merchants Insurance Group
- Ohio Casualty
- Penn-America Group
- Philadelphia Insurance Companies
- State Farm
- The Hartford
- The Main Street America Group
- Utica First
- BB&T Insurance Services
- Brown & Brown
- Burns & Wilcox
- Contractors Edge
- Day Care Insurance Services, Inc.
- Jimcor Agencies
- Risk Placement Services
- USG Insurance Services
- Valley Forge Insurance Brokerage
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Quotes from leading small business insurance carriers including: ACE, AmTrust, Chubb, Cincinnati, CNA, Colony, Employers, Evanston, Fireman's, Foremost, Guard, Hanover, Hiscox, Liberty Mutual, LLoyd's of London, Markel, MSA, Nationwide, Penn America, Philadelphia, Prime, Progressive, Scottsdale, The Hartford, Travelers, USLI, Utica First, Western World, Zurich & others.