Farmers Cuts N.D. Homeowners Rates Up to 15%

Captive agency carrier the Farmers Insurance Group of Cos. announced the introduction of the new home/life discount for its North Dakota homeowners customers. Customers who have both a life insurance policy and a homeowners insurance policy issued by Farmers can qualify for a five percent discount on their homeowners policy.

In addition to the home/life discount, Farmers will introduce a rate reduction on homeowners insurance in North Dakota. Beginning with renewals effective Feb. 16, 2004, many of Farmers’ customers in North Dakota will see a rate decrease. While the actual rate change will vary depending on the location and other characteristics of the home, some customers will see a rate decrease of up to 15 percent.

The home/life discount is similar to the auto/life discount already offered to Farmers auto customers. These discounts are part of an effort by Farmers to provide its multi-policy customers with greater savings on their insurance options.