Texas Farmers Auto Insurance Review (2024)
Texas Farmers Insurance Company is a subsidiary of Farmers Insurance Company. The provider underwrites auto and homeowners insurance under the Farmers name in the state of Texas. Texas Farmers auto insurance rates cost $349/mo or $4,168 annually. You can purchase the legal state minimum limits of 30/60/25 in liability coverage from the Texas Farmers auto insurance company. Scroll down for rates, discount info, and a brief history of Texas Farmers auto insurance.
Read moreJoel Ohman
Certified Financial Planner
Joel Ohman is the CEO of a private equity backed digital media company. He is a CERTIFIED FINANCIAL PLANNER™, author, angel investor, and serial entrepreneur who loves creating new things, whether books or businesses. He has also previously served as the founder and resident CFP® of a national insurance agency, Real Time Health Quotes. He has an MBA from the University of South Florida. Joe...
Certified Financial Planner
UPDATED: Jun 12, 2024
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Advertiser Disclosure: We strive to help you make confident auto insurance decisions. Comparison shopping should be easy. We are not affiliated with any one auto insurance provider and cannot guarantee quotes from any single provider. Our partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different companies please enter your ZIP code on this page to use the free quote tool. The more quotes you compare, the more chances to save.
Editorial Guidelines: We are a free online resource for anyone interested in learning more about auto insurance. Our goal is to be an objective, third-party resource for everything auto insurance related. We update our site regularly, and all content is reviewed by auto insurance experts.
UPDATED: Jun 12, 2024
It’s all about you. We want to help you make the right coverage choices.
Advertiser Disclosure: We strive to help you make confident auto insurance decisions. Comparison shopping should be easy. We are not affiliated with any one auto insurance provider and cannot guarantee quotes from any single provider. Our partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different companies please enter your ZIP code on this page to use the free quote tool. The more quotes you compare, the more chances to save.
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Texas Farmers
Average Monthly Rate For Good Drivers
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Low- Texas Farmers auto insurance is a subsidiary of the Farmers Insurance Company. The provider underwrites auto and homeowners insurance policies in the state of Texas.
- Texas auto insurance rates average $428 per month or $5,136 annually. The average cost of Farmers auto insurance is $349 per month or $4,168 per year.
- In 1998, Zurich Financial Services purchased Farmers Insurance Company. In 2009, the parent company also bought 21st Century Insurance from AIG for about $2 billion.
- Texas Farmers Insurance Company is not affiliated with Texas Farm Bureau Insurance Company.
Texas Farmers auto insurance is a subsidiary of Farmers Insurance Company and underwrites auto and homeowners insurance policies in Texas. The average cost of Farmers auto insurance is $349 per month or $4,188 annually.
Located in Austin, TX, your Texas Farmers auto insurance costs depend on the many factors that affect auto insurance rates. Your age, driving record, and ZIP code will impact your Texas Farmers auto insurance quotes.
Read through our guide to learn the average costs to buy Texas Farmers auto insurance, what policies and discounts the company provides, and if it’s a good match for you.
Other great providers exist besides the Texas Farmers auto insurance company; enter your ZIP code into our free tool above to receive quotes from reputable insurers near you.
What You Should Know About Texas Farmers
When choosing an insurance provider, cheap auto insurance rates are not the only thing to consider.
While affordable Texas Farmers auto insurance rates are great, it’s also essential to understand the provider’s customer service ratings and financial reviews before purchasing a policy.
As recorded by the National Association of Insurance Commissioners (NAIC), the Texas Farmers auto insurance complaint index is currently at 0.49.
Texas Farmers Insurance Company’s complaint index is lower than Farmers Insurance Company, at 0.79. Lower scores are better, and those less than one imply that the provider receives fewer complaints than average.
However, a decade ago, Texas Farmers auto insurance customer service ratings did not fare as well.
According to the Texas Department of Insurance, the company received a handful of justified auto insurance complaints spanning a handful of years. Justified customer complaints are violations that appear to break insurance laws.
- June 17, 2011: Three justified complaints were filed.
- December 31, 2010: Four justified complaints were filed.
- December 31, 2009: Two justified complaints were filed.
The complaint index for Texas Farmers auto insurance rose between 2009 and 2010, as reported on by the NAIC. Rising complaint index scores mean worse customer satisfaction. Fortunately, the company’s customer service improved over the years.
Texas Farmers auto insurance received strong financial ratings from some leading agencies. For example, the Better Business Bureau awarded Farmers with an A+ score.
Similarly, A.M. Best gave the company an A rating. Standard & Poor also awarded Texas Farmers auto insurance with an A rating.
You can trust that Texas Farmers auto insurance can reliably pay out your insurance claims, even in the event of an economic downturn.
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What is the history of Texas Farmers auto insurance?
Let’s take a look at the Texas Farmers Insurance Company history. As previously mentioned, Texas Farmers auto insurance is part of the Farmers Insurance Group.
Farmers is an insurance subsidiary owned by Zurich Financial Services as of 1998. Other sister companies of the Farmers Insurance Group include:
- 21st Century Insurance Company
- Foremost Insurance Company
- Bristol West Holdings, Inc.
- Farmers New World Life Insurance Company
- Zurich American Insurance Company
- Farmers Texas County Mutual Insurance Company
- Mid-Century Insurance Company of Texas
In 2010, Farmers had approximately $1 million in capital and $80 million in policyholder surplus. The company also wrote roughly $368.4 million in premiums that year; however, this was at a loss from $404.9 million in 2009.
Before 1998, the company was part of the Farmers Insurance Exchange, headquartered in Los Angeles, California. The company was initially approved to write personal auto insurance coverage and comprehensive liability lines in Texas in 1967.
How is Texas Farmers auto insurance associated with Zurich Financial Services?
The Texas Farmers Insurance Company was acquired by Allied Zurich PLC, an operating subsidiary of Zurich Financial Services, in 1998.
In 2009, Zurich Financial Services also purchased 21st Century Insurance, the private passenger insurance unit owned by AIG, for about $2 billion.
The combined Farmers Insurance and 21st Century Insurance unit is now one of the top U.S. private auto insurance companies.
Zurich Financial Services ranked 187th in the 2010 Financial Times 500. At the time, the company was one of the largest global insurance companies in the world.
In 2009, Zurich Financial Services generated $70.27 billion in global sales and had total assets of about $368.91 billion. The company also reported a net income of about $3.24 billion.
Farmers Insurance Group represented 12 percent of the parent company’s global sales. General insurance policies represented approximately 45 percent, and life insurance represented 38 percent during that period.
Today, about 60,000 people work for Zurich Financial Services in 170 countries around the globe.
Zurich Financial Services competes with three global companies: AXA, Allianz, and Aviva. Mitsui Sumitomo and Generali compete with Zurich Financial Services outside of the company’s core European markets.
Other companies compete with Zurich Financial Services in the United States national market. Competitors include AIG, State Farm, GEICO, The Hartford, Prudential. Travelers, and CNA Financial.
What is the market share of Texas Farmers auto insurance?
In Texas, Farmers Insurance Company holds about 6.62 percent of the passenger auto market share. The company wrote $1,539,231,940 in premiums in 2018.
However, according to the Texas Department of Insurance, Texas Farmers Insurance Company performs better in the homeowners insurance market.
The company wrote the second-highest amount of homeowners insurance premiums in 2018 at $855,382,655. State Farm landed in the number one spot.
How do I get a Texas Farmers auto insurance quote?
To get a Texas Farmers auto insurance quote, you must live in the state of Texas. Navigate to the Farmers website and follow the steps on the company’s auto insurance homepage.
If you live in Texas, your quote comes from the Texas Farmers auto insurance company.
If you live in a different state, your policy comes from another Farmers Insurance Company subsidiary.
How do I file a Texas Farmers auto insurance claim?
File all claims for Texas Farmers auto insurance through the Farmers website, mobile app, or customer service line.
You can access the Farmers website’s claims page and report an auto claim online or by calling 1-800-435-7764.
The Farmers Mobile App went through a recent redesign and updates.
If you file a claim through the Farmers Mobile App, you can share photos of the incident, see your damage repair estimate, choose a repair shop, and even receive the payments for the damages to your vehicle.
How do I cancel my Texas Farmers auto insurance policy?
You can cancel Texas Farmers auto insurance policies at any time and for any reason. However, secure a new policy before withdrawing to avoid any lapses in your coverage, which can lead to higher rates.
To cancel your auto insurance policy with the Texas Farmers insurance company, contact your local agent or use the mobile app or customer portal on the Farmers website.
Depending on when you cancel your policy, you may be subject to fees or extra charges. If you paid for your policy in advance, you might receive a refund.
Texas Farmers Insurance Coverage Options
The Texas Farmers Insurance Company is currently authorized to write auto and homeowners insurance policies under the Farmers name.
Take a look at the following table to see available coverage options from Texas Farmers auto insurance.
Texas Farmers Auto Insurance Coverage Options
| Auto Insurance Coverage Type | Definition of Coverage |
|---|---|
| Liability coverage | Covers damage to the other driver in an accident you caused. |
| Comprehensive coverage | Covers damage to your vehicle when not in motion, including weather damage, animal damage, vandalism, fires, or floods. |
| Collision coverage | Covers damage to your vehicle when in motion, including hitting another car or still objects like a telephone pole or tree. |
| Uninsured/Underinsured motorist coverage | Covers your damages if an uninsured motorist hits your vehicle. |
| Medical payments coverage (MedPay) | Covers medical expenses for you and your passengers when involved in an accident. |
| Personal injury protection (PIP) | Covers medical expenses and lost wages if you’re involved in an accident. |
If you live in Texas, you must carry the state minimum legal limits to drive on the roads. Fortunately, Farmers sells the proper coverage to meet your state’s minimum limits.
The Texas state auto insurance requirements are 30/60/25 for liability coverage. Take a look at the following table for specific details.
Texas State Minimum Auto Insurance Requirements
| Insurance Coverage Required | Minimum Limits |
|---|---|
| Bodily injury liability | $30,000 per person $60,000 per accident |
| Property damage liability | $25,000 per accident |
Texas Farmers is also authorized to write homeowners insurance policies in Texas. The three plans are:
- Standard Plan: For a reduced price, you can buy a reduced coverage policy for your home.
- Enhanced Plan: For a mid-tier price, you receive higher coverage limits and extra features.
- Premier Plan: For a higher price, you receive the most significant number of features.
Damage covered by Texas Farmers homeowners insurance includes windstorms, hail, lightning strikes, fire, vandalism or theft, explosions, falling objects, and water damage from burst pipes.
Texas Farmers Insurance Rates Breakdown
The national average cost of Farmers auto insurance is $349 per month or $4,188 annually. However, Texas Farmers auto insurance only underwrites in the state of Texas.
The average cost of Texas auto insurance is $428 per month or $5,136 per year. Expect your Texas Farmers auto insurance costs to be close to the state average.
Texas Farmers auto insurance is not affiliated with Texas Farm Bureau auto insurance in any way.
Your premiums depend on your driving record, age, and the coverage level you require. Discounts offered by Texas Farmers Insurance Company can also lead to cheaper costs.
Before you buy an insurance policy, compare quotes from multiple providers to ensure you’re securing your best rates.
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Texas Farmers Discounts Available
There are a variety of Texas Farmers auto insurance discounts provided as a benefit to customers.
- Multi-vehicle discount: insure more than one vehicle through Texas Farmers auto insurance and earn a discount.
- Youthful driver discount: If you are a young driver, you can receive a small rate decrease.
- Multi-policy discount: If you are a homeowner, you can bundle home and auto insurance policies through Texas Farmers insurance for a discounted rate.
Farmers Insurance Company advertises more discounts on the company website, but, unfortunately, not all are available in Texas.
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Frequently Asked Questions
What is Texas Farmers Auto Insurance?
Texas Farmers Auto Insurance is a type of automobile insurance coverage provided by Farmers Insurance Group, a leading insurance company operating in Texas. It offers various policies designed to protect drivers and their vehicles in the state of Texas.
What types of auto insurance coverage does Texas Farmers offer?
Texas Farmers Auto Insurance offers a range of coverage options, including liability coverage, comprehensive coverage, collision coverage, personal injury protection (PIP), uninsured/underinsured motorist coverage, and optional add-ons such as roadside assistance and rental car reimbursement.
What does liability coverage entail?
Liability coverage in Texas Farmers Auto Insurance provides financial protection if you are responsible for causing injuries or property damage to someone else in an accident. It helps cover their medical bills, property repair costs, and legal expenses up to the policy limits.
What does comprehensive coverage include?
Comprehensive coverage protects your vehicle from damages caused by incidents other than collisions, such as theft, vandalism, fire, or natural disasters. It helps cover the cost of repairs or replacement up to the policy’s limits, minus the deductible.
What does collision coverage cover?
Collision coverage in Texas Farmers Auto Insurance helps cover the cost of repairs or replacement of your vehicle if it’s damaged in a collision with another vehicle or object, regardless of who is at fault. It typically requires the payment of a deductible.
What is personal injury protection (PIP)?
Personal injury protection, commonly known as PIP, is a coverage option that helps pay for medical expenses, lost wages, and other related costs for you and your passengers in the event of an accident, regardless of fault.
What is uninsured/underinsured motorist coverage?
Uninsured/underinsured motorist coverage provides protection if you are involved in an accident with a driver who either doesn’t have insurance or doesn’t have sufficient coverage to pay for your injuries or property damage. It helps cover your medical expenses and vehicle repairs in such situations.
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Enter your ZIP code below to view companies that have cheap auto insurance rates.
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Joel Ohman
Certified Financial Planner
Joel Ohman is the CEO of a private equity backed digital media company. He is a CERTIFIED FINANCIAL PLANNER™, author, angel investor, and serial entrepreneur who loves creating new things, whether books or businesses. He has also previously served as the founder and resident CFP® of a national insurance agency, Real Time Health Quotes. He has an MBA from the University of South Florida. Joe...
Certified Financial Planner
Editorial Guidelines: We are a free online resource for anyone interested in learning more about auto insurance. Our goal is to be an objective, third-party resource for everything auto insurance related. We update our site regularly, and all content is reviewed by auto insurance experts.