Truck Insurance Exchange Car Insurance Review [2024]
Truck Insurance Exchange car insurance reviews cover a company that is part of Farmers Insurance Group. All quotes are offered through Farmers, and the address and phone number are shared with Farmers. Farmers Truck Insurance rates average $375/month.
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Kalyn Johnson
Insurance Claims Support & Sr. Adjuster
Kalyn grew up in an insurance family with a grandfather, aunt, and uncle leading successful careers as insurance agents. She soon found she has similar interests and followed in their footsteps. After spending about ten years working in the insurance industry as both an appraiser dispatcher and a senior property claims adjuster, she decided to combine her years of insurance experience with another...
Insurance Claims Support & Sr. Adjuster
UPDATED: Feb 13, 2024
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- Truck Insurance Exchange is owned by Farmers
- The insurer started as a car insurance company for farmer customers.
- They have added multiple insurance lines through the years.
What is the Farmers Truck Insurance Exchange?
The American company is an insurer owned by Farmers, so reviews will often fall under the Farmers Insurance name.
This car insurance review gives you information about the California-based car insurer and its parent company, Farmers Insurance Group, and the liability coverage— both bodily injury coverage or property damage— and other policies offered.
The inter-insurance exchanges operate under laws established by the state of California. Policyholders own the Exchange.
Keep reading this car insurance guide to learn more about the insurer’s prices, policies, and coverage, how to take action to get quotes, and more.
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What do I need to know about the insurer?
The company was originally founded in 1872 and offers a wide range of property & casualty insurance products and policies throughout the United States.
The website is also the same as the main Farmers site.
Generally, the company reviews are good across the board.
According to Dun & Bradstreet, the insurer has a low-risk prescreen score.
A.M. Best rates companies based on factors regarding their financial health. Farmers received an A rating, meaning the company can meet its financial obligations without a problem. The insurer’s financial strength A.M. Best rating is shared with Farmers.
J.D. Power rates insurance companies based on customer experience factors, like service and pricing. Farmers only received an average rating.
If customer service is the most important thing for you, you might want to look at other insurers with a better rating, however business profiles are subject to change.
The Truck Underwriters Association, owned by Farmers Group, Inc. provides administrative services for the insurance exchange.
The Farmers Insurance Group is ultimately owned by parent Zurich Financial Services, headquartered in Zurich, Switzerland.
Read more: Farmers Signal Review: Compare Rates, Discounts, & Requirements
Are Farmers and 21st Century the same company?
Other subsidiaries that work with the Farmers Insurance Exchange and the Truck Insurance Exchange include:
- Foremost Insurance Company – this insurer insures mobile homes and specialty residences
- Bristol West Insurance Group – this insurer offers private car insurance
- 21st Century Insurance and Financial Services – this insurer provides direct markets car insurance policies
- The Farmers Action for Communities of Tomorrow (FACT) – this insurer helps agricultural communities in California
With all the companies listed under Farmers Insurance Group, there can be some confusion.
Is Farmers Insurance the same as Farmers Mutual? No, it is a separate company. There are many insurers across the US going by Farmers Mutual. The Truck Insurance Exchange NAIC number, 21709, differentiates it.
Are auto insurance rates cheap?
Since Truck Ins Exchange is part of Farmers Underwriters Association, we will look at Farmers auto insurance rates to give you an idea of the costs you can expect.
Let’s look at the average annual auto insurance rates for different insurers based on the coverage you choose. Compare Farmers with the others to see how they stack up.
| Companies | Average Monthly Car Insurance Rate for Low Coverage | Average Monthly Car Insurance Rate for Medium Coverage | Average Monthly Car Insurance Rate for High Coverage |
|---|---|---|---|
| Allstate | $385.67 | $408.07 | $428.25 |
| American Family | $280.71 | $295.36 | $284.70 |
| Farmers | $326.87 | $347.19 | $374.51 |
| Geico | $250.16 | $267.83 | $285.76 |
| Liberty Mutual | $483.81 | $504.88 | $529.67 |
| Nationwide | $282.90 | $287.48 | $292.11 |
| Progressive | $311.43 | $334.87 | $362.58 |
| State Farm | $254.62 | $272.48 | $287.90 |
| Travelers | $351.97 | $371.84 | $384.92 |
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What Is the Truck Insurance Exchange availability by the state?
As a part of Farmers, policies are available in all 50 states.
Although coverage is available, the pricing and discounts will vary by state.
If you live in a city with a lot of thefts or drivers, your car insurance expenses will be higher. You will have a much higher chance of having your car stolen or being in an accident.
What coverages are offered?
As part of Farmers, there are many types of auto insurance coverage offered through the company.
In addition to a potential liability insurance policy, collision, and comprehensive coverages, Farmers also offers add-ons such as uninsured/underinsured, personal injury protection (PIP), roadside assistance, glass coverage, accident forgiveness, and more.
Car insurance is not a one size fits all coverage. Speak with your agent to determine exactly what coverage you need.
What are the bundling options?
Farmers offers many policies. These include auto, home, life, business, recreational vehicle, motorcycle, umbrella, financial, pet, and renters insurances.
If you have two or more of these policies, you can combine them for a discount. Also, it’s easier if all of your policies are with one auto insurer.
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What are the discounts offered?
Discounts offered are through Farmers and vary by state.
You will generally find the most common car insurance discounts in every state though. A few examples are:
-
- Multi-car
- Car safety features
- Good student
- Mature drivers
- Multi-policy
Discounts are a great way to save money on your auto insurance. This is especially true if you are able to bundle multiple discounts.
What programs are available?
The Signal app from Farmers can help you keep your car insurance costs down.
When you download Signal to your phone, you get a five percent discount initially. Signal will record your driving habits and send the information to Farmers over Wi-Fi.
If you are a safe driver, you can get up to a 15 percent discount each time your insurance policy with truck coverage renews.
It is important to note that the amount of your discount depends on your safe driving. That means that you can get less than 15 percent if your driving isn’t up to par.
You can also win prizes each month for your safe driving. If you meet the qualifications, your name will be entered into a raffle each month.
If you are a safe driver, this could be an easy way to save money on your auto insurance. However, if your driving skills leave a lot to be desired, you might want to skip this app.
How do I make a claim?
If you need to file an insurance claim, you can access customer service through the Farmers website. You can also send a text, report through the Farmers app, or call 800-435-7764.
If you know your local agent, you can contact them to file a claim.
You might want to contact the insurer directly instead of going through Farmers.
The address is:
PO Box 4402
Woodland Hills, CA 91365
The phone number is 800-451-0797.
You have multiple ways to contact the insurer, so you can pick how to file your claim.
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Truck Insurance Exchange Car Insurance Review: What’s the Bottom Line?
Truck Insurance Exchange is a part of Farmers Insurance Group and is available through its parent company in all 50 states.
Truck Insurance Experts reviews are generally positive but leave room for improvement.
Although there are many discounts available, the best way to save money on car insurance is to compare quotes from many insurers.
Now that you’ve read our review, let’s talk numbers and take action. Get your free car insurance quotes now by entering your ZIP.
Frequently Asked Questions
What is Truck Insurance Exchange?
Truck Insurance Exchange is an insurance company that is part of Farmers Insurance Group. It offers car insurance coverage and policies.
Is Truck Insurance Exchange affiliated with Farmers Insurance?
Yes, Truck Insurance Exchange is owned by Farmers Insurance Group. They share the same address and phone number.
What types of coverage does Truck Insurance Exchange offer?
Truck Insurance Exchange offers liability coverage, including bodily injury and property damage, as well as other policies such as collision, comprehensive, uninsured/underinsured motorist, personal injury protection, roadside assistance, and more.
Are there discounts available with Truck Insurance Exchange?
Yes, Truck Insurance Exchange offers various discounts, although the specific discounts may vary by state. Some common discounts include bundling multiple policies, safe driver discounts, and others.
How can I make a claim with Truck Insurance Exchange?
To make a claim with Truck Insurance Exchange, you can contact their customer service through their website, mobile app, or by calling their claims hotline at 800-435-7764. You can also reach out to your local agent or contact them directly using their address and phone number provided.