Will my insurance premium increase if I file an auto insurance claim with Farmers? (2024)
Insurance premiums will increase if you file an insurance claim with Farmers. However, Farmers offers accident forgiveness for drivers who have been accident-free for at least three years. You can also save money on Farmers car insurance by paying for cheaper repairs yourself.
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Brandon Frady
Licensed Insurance Agent
Brandon Frady has been a licensed insurance agent and insurance office manager since 2018. He has experience in ventures from retail to finance, working positions from cashier to management, but it wasn’t until Brandon started working in the insurance industry that he truly felt at home in his career. In his day-to-day interactions, he aims to live out his business philosophy in how he treats hi...
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UPDATED: Oct 25, 2024
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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: Oct 25, 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 insurance industry 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.
On This Page
- Your auto insurance rates could increase after a claim with Farmers
- Go accident-free for three years to get Farmers accident forgiveness
- Paying for repairs out of pocket may be cheaper than a claim if damages are minor
Even if you’re a careful driver, you could eventually be involved in an accident. If you caused the accident, your Farmers policy will cover the damage. Knowing how to negotiate with Farmers can help you get more compensation for your auto insurance claim. (Read More: Farmers Auto Insurance Review)
If needed, you can get affordable instant auto insurance quotes from other companies and let Farmers know that you’re thinking about a new policy.
In this article, we’ll discuss whether your premium will increase if you file an insurance claim with Farmers and look at your coverage options.
How a Farmers Claim Can Affect Your Insurance Rates
Filing an auto insurance claim with Farmers often raises your insurance rates because it means you had an accident that was at least partially your fault. However, if you use comprehensive coverage for repairs after a tree hits your vehicle during a storm, after hail damage, or after similar issues, your rates usually won’t go up.
Farmers does offer accident forgiveness for anyone who hasn't been involved in an accident for three years, meaning many drivers' rates won't increase until they have their second accident in a three-year period.Tracey L. Wells Licensed Insurance Agent & Agency Owner
The company also offers a good driver auto insurance discount for anyone who had no at-fault accidents or traffic citations in the last 36 months. If you get a traffic ticket, you could lose the good driver discount, and your insurance rates could increase.
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How to Decide if a Farmers Insurance Claim Is Worth It
In most parts of the United States, drivers must have liability auto insurance coverage to pay for damage or injuries to other people involved in an accident, but it doesn’t cover damage to your vehicle. If you only have liability insurance and no one else was involved in an accident, there’s no reason to report the damage to your insurance company. People driving older vehicles that aren’t worth much often choose this type of auto insurance coverage.
If you have full coverage, you can get payment for repairs or a replacement vehicle. However, you’ll still have to pay your policy’s deductible. Making a claim may not be worth it if it’s not much more than your deductible, especially considering the fact that your rates may go up later. After an accident, you can save on towing with affordable roadside assistance coverage.
Understanding When Your Premium Could Increase Because of an Auto Insurance Claim With Farmers
Understanding when your auto insurance rate might increase and how insurers calculate your auto insurance rate can help you decide whether you should file an auto insurance claim.
There’s no rate increase for natural disasters or other types of damage covered by comprehensive auto insurance. However, rates can increase after a hit-and-run accident, even when you have uninsured/underinsured motorist coverage.
Comparing quotes and searching for affordable full coverage auto insurance can help you keep your rates low after an accident.
Frequently Asked Questions
How long do I have to file a Farmers insurance claim?
In most states, you have two to three years to file an auto insurance claim. Filing your claim as soon as possible is best, but you may need some time to get medical treatment and bills for damages or injuries.
Could my Farmers auto insurance rate increase after a claim denial?
Even if Farmers denies your claim, it could increase your auto insurance rates. If Farmers determines that the accident was your fault, it will impact your driving record. This is one of the factors Farmers considers when deciding your rates.
How long will an accident impact my Farmers insurance rate?
Depending on the state and its regulations, an accident can increase your insurance rates for three to five years. After that, your rates will usually go back down. However, moving to a location with more traffic or getting a ticket could keep your rates high.
Do insurance premiums go up after a claim with Farmers?
Yes, your Farmers insurance rates could go up after filing a claim unless you have accident forgiveness.
Does your insurance go up after a claim that isn’t your fault with Farmers?
Even if the accident isn’t your fault, your rates could go up because it still cost your insurance company money.
How much does a claim increase your premium with Farmers?
Your Farmers auto insurance rates can increase anywhere from 20% to 40% after filing a claim, depending on your state, whether you have accident forgiveness, and other factors.
Should I get an estimate before filing a Farmers insurance claim?
Yes, it’s always best to get a damage estimate before filing a claim to see if paying for daamge out of pocket is cheaper than using your Farmers insurance.
What is Farmers accident forgiveness?
With Farmers accident forgiveness, the company forgives one at-fault accident every three years by not raising your rates.
Is there a fee to cancel Farmers insurance?
No, Farmers doesn’t charge a cancellation fee.
Will a third-party claim affect my Farmers insurance rates?
Yes, any third-party claims to your Farmers insurance could affect rates.
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Brandon Frady
Licensed Insurance Agent
Brandon Frady has been a licensed insurance agent and insurance office manager since 2018. He has experience in ventures from retail to finance, working positions from cashier to management, but it wasn’t until Brandon started working in the insurance industry that he truly felt at home in his career. In his day-to-day interactions, he aims to live out his business philosophy in how he treats hi...
Licensed Insurance Agent
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.