Carrier review · Updated August 3, 2026
Farmers Tesla Model Y insurance review
Broad product line, weakest standalone auto pricing. Farmers makes sense when you are consolidating several policies with one agent. As a standalone Model Y policy it posts the highest average of any carrier listed here, $5,331 a year or 39% above the national average, without a corresponding advantage in claims service.
Who Farmers is right for
Farmers is our pick for bundling multiple specialty policies. Against the rating profile used throughout this site it averages $5,331 a year, which is $1,495 above average and places it 10th of the 10 carriers with published Model Y rate data.
Farmers makes sense when you are consolidating several policies with one agent. As a standalone Model Y policy it posts the highest average of any carrier listed here, $5,331 a year or 39% above the national average, without a corresponding advantage in claims service.
Pros and cons
What works
- Wide product line for bundling home, umbrella, life and specialty coverage
- Signal telematics offers a sign-up discount plus performance-based savings
- Customer-friendly declining deductible option
- Large agent network with local underwriting knowledge
- Rideshare coverage available in many states
What does not
- Highest annual average of any carrier listed here, 39% above the national average
- Claims satisfaction consistently below the industry average
- Discount stacking rarely offsets the base-rate gap
- EV-specific coverage is not a marketed strength
Coverage highlights
Beyond standard liability, collision and comprehensive, these are the coverages and endorsements that matter most for a Model Y owner at Farmers.
- Declining deductible
- New car replacement
- Accident forgiveness
- Glass deductible buyback in some states
Discounts available
Not every discount below applies in every state, and several are never surfaced in an online quote. Ask an agent to confirm each one against your filing.
Availability and claims
Where you can buy it: All 50 states and Washington, D.C.
How claims are handled: Agents, app and phone
Telematics: Optional (Signal)
How Farmers prices by driver age
Published averages for the same Model Y Long Range and the same coverage, varying only the driver's age.
| Age 25 | Age 40 | Age 65 |
|---|---|---|
| $7,747 | $5,367 | $4,704 |
How Farmers compares
| Carrier | Avg. annual | Avg. monthly | Best for |
|---|---|---|---|
| USAA | $2,256 | $188 | Military members and their families |
| Travelers | $2,748 | $229 | Owners bundling home and auto |
| Nationwide | $3,044 | $254 | Low-mileage drivers using SmartMiles |
| State Farm | $3,051 | $254 | Owners who want a local agent |
Farmers FAQ
Does Farmers offer an electric vehicle discount?
Farmers files an alternative fuel vehicle discount in a number of states, which a battery-electric Model Y generally qualifies for. Its size varies by filing and does not usually make Farmers price-competitive on its own.