Info About Insurance

Farmers Insurance

• Farmers Insurance Group of companies was founded in 1928 as the Farmers Insurance Exchange.
• The A.M. Best Company, who is responsible for evaluating the financial strength of companies, ranks Farmers with an A (Excellent) rating.
• Started out offering only automobile insurance but home and commercial insurance was added as the company grew.
• Farmers Group is the company’s third largest write of both private passenger automobile and homeowners insurance.
• It is managed but not owned by Zurich Financial Services.
• Foremost Insurance Company, located in Michigan, was acquired by Farmers in March 2000.

Financial Products

Farmers Financial Solutions offers:

• Mutual Funds*
• 529 College Savings Plans*
• Variable annuities*+
• Variable Universal Life*+

Agents are registered with Farmers Financial Solutions, LLC, Member NASD. Farmers Financial Services is not a separate entity neither Farmers are engaged in the business of providing investment advice nor registered as investment advisors under federal securities law.

Specialized Coverages Offered

• Employee Benefits Liability Insurance
• Commercial Automobile Insurance
• Earthquake Insurance
• Surety Bonds
• Building Ordinance Insurance
• Personal Insurance
• Pollution Liability Insurance
• Equipment Breakdown Insurance
• Garage Keepers Insurance
• Umbrella Insurance
• Business Life Insurance
• Condominium Unit-owners Insurance
• Condominium Directors and officers Liability Insurance.

Farmers Auto Insurance

It pays for the damage and injuries caused by the accident and for repairing or replacing your vehicle if it is damaged or stolen. In most states you are required to carry auto liability insurance and provide proof of insurance before you can license your vehicle or renew your driver’s license. You may have to pay a large fine and have your driver’s license suspended incase you are caught driving without insurance.

Types of Auto Insurance Coverages

As there are many different types of auto insurance coverages, you can work with your Farmers agent to decide what coverage combinations provide the best protection at a price that fits your budget.

Bodily Injury – pays for injury to others when you are at fault.

Medical Payments – pays for your own or passenger’s medical expenses.

Comprehensive – pays for losses from fire, theft, storm, etc

Deductible – the amount of covered loss you agree to pay.

Collision – pays damages to your own vehicle

Property Damage – pays for property damage when you are at fault.

Fault or No-Fault – depends on state law

Personal Injury Protection – In no-fault states, this covers a broad assortment of medical expenses

Optional Services in addition to basic auto insurance

• Emergency roadside assistance and towing service
• Car rental reimbursement
• Windshield glass repair service

More about Auto Insurance

• One of the biggest expenses in owning a car or truck is the cost of insuring it.
• Your Farmers agent can help you letting you know which vehicles have better insurance values.
• The rates for comprehensive and collision coverage are determined by looking at the vehicle loss history – how costly it is to repair or replace after an accident.

The higher the deductible, the lower the premium – but the more you’ll pay out of pocket in case of claim. The lower the deductible, the higher the premium – but the less you’ll pay if you have an insured claim.

Discounts Offered

• In some states you may be eligible for a discount based on your driving history.
• You can save money by purchasing both auto and homeowners insurance policies from farmers.
• If you own two or more vehicles and insure both of them with Farmers, you may qualify for the Multi-Car discount.

Farmers Homeowners Insurance

Protect your home, your belongings and your assets you’ve worked so hard for! Homeowners insurance provides coverages for damage to your home and other structures on your property a shed or detached garage. There are specific policies designed for those who rent or own condominiums.

Coverages

Whether you own a house or condo, or rent, your Farmers agent has an insurance program to protect you, your home and your belongings.

Additional Living Expense - Your Farmers Homeowners policy will pay you for increases in living expenses you incur while your home is being repaired as a result of a covered loss.

Personal Property – Your policy covers on-premises personal property subject to the policy provisions. Typically, your personal property is covered for damages resulting from the following:

·        Theft

·        Vandalism or malicious mischief

·        Aircraft and Vehicles

·        Personal liability

·        Windstorm or hail

·        Fire of lightning

·        Explosions

·        Accidental discharge of water

Medical Payments

Your Farmers Homeowners policy pays for bodily injury to other people, for whom you are legally responsible, that result from unintentional acts by you or a qualified family member. This coverage also pays medical payments for other people injured on your property, regardless of liability, up to certain limits stated on you policy.

Optional Coverages

·        Mortgage Protection Insurance – It is designed to assure that, in the event of your death, your family can remain in the house they love. Farmers Insurance offers two basic types of Mortgage Life insures: Farmers Level Term 2000 and Farmers Decreasing Term Life Insurance.

 

·        Identity Fraud Expense Coverage -
Identity theft and identity fraud are terms used to refer to all types of crime in which someone wrongfully obtains and uses another person’s personal data in some way that involves fraud or deception, typically for economic gain.
Do not give out your personal information, such as account or credit card numbers, on the phone or over the Internet unless you have initiated the contact. Report loss or stolen check immediately. Make sure your mail box is secure, and promptly remove mail when it has been delivered. Contact your bank or credit union to protect you accounts. Contact your Farmers agent to file a claim against your identity Fraud Expense Coverage Endorsement.

 

·        Scheduled Personal Property - In most cases, you will need to purchase Personal Articles Floaters, which extends coverage for your personal articles, such as jewelry or fine arts, when their value is higher than the limits stated in your policy.

 

·        Flood Insurance – The average flood insurance policy costs about $300 to $100,000 of coverage. Up to $100,000 contents coverage is available for homeowners and renters. Contents are not automatically included with the building coverage. Federal disaster assistance is only available if the President declares a disaster.  Flood insurance pays even if a disaster is not declared.

 

·        Earthquake Insurance – Most Homeowners policies do not cover earthquake insurance. However, earth coverage is an available option in most states.

Farmers Life Insurance

Insurance in which the risk insured against is the death of a particular person, the insured, upon whose death while the policy is in force, the insurance company agrees to pay a stated sum or income to the beneficiary.

Farmers Term Life Insurance is the right choice when you’re looking for temporary coverage to fit your current family or business needs. Several plans are renewable or even convertible to permanent forms of coverage that lock in your premium cost over the life of the policy.

Farmers Whole Life Insurance plans lock in a level premium for a lifetime and provide living benefits for you in the form of cash value. You can build extra cash reserve for the future by taking advantage of the “deposit fund” benefit.

Farmers Universal Life Insurance programs are designed to provide protection that fits your changing financial situation with:

• Flexible Coverage
• Changeable death benefits
• Options for timing and method premium payment.

Farmers Universal Life plans offer preparation for retirement, estate conservation and tax benefits which you should know.

As long as you keep your premiums current, your policy will never be canceled. However, you have the right to cancel your policy at any time. Many policies include a rider that provides a “waiver of premium” for total disability. Farmers will pay your premium for you until you are no longer disabled.

Farmers Business Insurance

You need to have adequate insurance to cover your business from loss due to crime, fire, flood, equipment failure, injury or the death of an employee.

Coverages offered

• Buildings - including improvements you have made.
• Contents – personal property, stock and equipment
• Personal Injury – wrongful eviction and invasion of privacy.
• Medical Payments
• Umbrella liability

Types of businesses covered

• Artisan Contractor
• Automotive Trades
• Commercial Real Estate
• Manufacturing
• Restaurant
• Retail/Service
• Wholesale/Distribution