Who owns Farmers insurance? This question is about Farmers Insurance

Who owns Farmers insurance?

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This question is about Farmers Insurance

Lilah Butler, Car Insurance Writer

@lilah_c • 05/05/23 This answer was first published on 04/19/23 and it was last updated on 05/05/23.For the most current information about a financial product, you should always check and confirm accuracy with the offering financial institution. Editorial and user-generated content is not provided, reviewed or endorsed by any company.

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Farmers Insurance is owned by the company's policyholders. Farmers is a type of insurance company called a reciprocal insurance exchange, which means that policyholders assume each other's risk, though the day-to-day management of the company is done by Zurich Insurance Group, Ltd.

Zurich Insurance Group also acts as the attorney-in-fact for Farmers. It is in charge of issuing policies, collecting premiums, and paying agents, among other things, but it does not own Farmers Insurance.

For more information about insurance from Farmers, check out WalletHub's full Farmers review.

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How do I get car insurance for the first time?

To get car insurance for the first time, drivers need to decide what coverage they need, gather their personal and vehicle information, and shop around for the best policy at the lowest price. A first-time driver should expect to pay up to 300% more for coverage than someone with more experience. But with research and a little bit of searching, first-time drivers can still find a policy that fits their budget.

How To Get...

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Does Farmers offer full coverage insurance?

Yes, Farmers offers full coverage car insurance. Full coverage from Farmers typically includes at least a state's minimum required car insurance coverage along with collision and comprehensive insurance to protect the policyholder's vehicle.

Full coverage car insurance from Farmers costs $4,652 per year, on average, and is more expensive than a liability-only policy since it provides more coverage.

Cost of Farmers Full Coverage by Driver's Age

Driver	Annual Cost
16-year-old	$9,493 per year
22-year-old	$4,372 per year
45-year-old	$3,295 per year
65-year-old	...

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Are Farmers insurance rates competitive?

Yes, Farmers insurance rates are competitive, as the company is one of the 10 cheapest auto insurers nationally, according to WalletHub analysis. Farmers car insurance customers pay an average of $1,044 per year for coverage. Farmers' car insurance rates are based on your driving record and experience, along with factors like the type of car you drive, your ZIP code, your insurance history, and more. Your coverage and deductible choices also impact your final quote,...

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