If you have an insurance policy with Farmers, you may notice a 5-digit NAIC number on your paperwork. This number represents the unique identifier assigned to Farmers Insurance Group by insurance regulators. But what exactly does this NAIC code tell us?
Below we’ll cover what the Farmers NAIC number is, why regulators assign these identification codes, and how NAIC numbers can be useful for consumers.
The Primary NAIC Number for Farmers Insurance Group is 21652
The National Association of Insurance Commissioners (NAIC) has designated 21652 as the main NAIC number for Farmers Insurance Group.
This five-digit code applies specifically to the Farmers Insurance Exchange, which is the primary subsidiary in the Farmers insurance family.
However, because Farmers Group consists of multiple affiliated insurance companies, each entity has its own unique NAIC number assigned by regulators:
- Farmers Insurance Exchange – 21652
- 21st Century Insurance Company – 12963
- Coast National Insurance Company – 25089
- Foremost Insurance Company – 11185
- Mid-Century Insurance Company – 21687
So the NAIC number corresponding to your particular Farmers policy – whether home, auto, renters, business, or specialty coverage – depends on which group member issued the policy.
But the root Farmers Insurance Group is identified by NAIC code 21652 for regulatory and complaint tracking purposes across all states.
Why Do Insurance Companies Have NAIC Numbers?
NAIC numbers serve several key functions:
Uniform Company ID – The NAIC number gives each insurer a standardized form of identification that remains constant across different states, instead of varying by state license number.
Complaints & Violations – Regulators log consumer complaints against companies by their NAIC number. This allows complaint patterns to be analyzed across jurisdictions.
Financial Oversight – Insurers submit detailed financial filings using the NAIC number, enabling regulators to monitor solvency and reserves.
Consumer Lookup – Shoppers can verify an insurer’s NAIC number and review its complaint history to avoid “ghost” insurers.
Market Conduct Reviews – State insurance departments use the NAIC number to track and coordinate market conduct examinations when needed.
So the NAIC number essentially works as an insurance company’s Social Security number for regulatory tracking and oversight purposes. This benefits both regulators and consumers.
Where to Find the NAIC Number on Farmers Insurance Paperwork
If you need to look up the specific NAIC number attached to your own Farmers policy, there are a few places you can check:
Insurance Card – Your Farmers insurance ID card will display the applicable NAIC number.
Declarations Page – Your policy declarations outline coverages and will note the NAIC number.
Website – The NAIC number is often listed on the insurer’s website as well for public lookup.
Call Farmers – You can call customer service to enquire about the NAIC number on your particular policy.
Having this five-digit code can help you verify legitimate Farmers coverage and review regulatory complaint data for your state. It’s useful information to file away with your important insurance paperwork.
How Regulators Use NAIC Numbers for Oversight
Insurance is regulated primarily at the state level. But NAIC numbers help facilitate coordination and information sharing between regulators across different states where an insurance company operates. Some examples include:
Licensing – When a company applies to sell insurance in a new state, regulators use the NAIC number to track authorizations.
Solvency Monitoring – Regulators pool financial statements filed under NAIC numbers to monitor companies for risks.
Complaints – The NAIC number allows regulators to aggregate and analyze complaint data across jurisdictions to identify issues.
Enforcement – Regulatory actions taken against a company are logged under the NAIC number for other states to access.
Market Conduct Reviews – Exams initiated based on NAIC numbers help assess compliance and consumer protection issues.
So while insurance is primarily overseen locally, NAIC numbers enable important big-picture oversight across borders by allowing regulators to “speak the same language.” This enhances stability and uniformity nationally.
How Consumers Can Use an Insurer’s NAIC Number
Drivers, homeowners and insurance buyers can also leverage a company’s NAIC number in useful ways:
Verify Legitimacy – Fake “ghost” insurers lack valid NAIC registration. So consumers can authenticate legitimate providers.
Research Complaints – The NAIC offers a free tool to lookup companies by NAIC number to review complaint data.
Check Financial Ratings – Agencies like A.M. Best derive insurer financial strength grades using NAIC financial filings.
File a Complaint – Providing the NAIC number helps insurance departments efficiently log and track consumer complaints.
So the next time you come across an NAIC number on paperwork from Farmers or another insurer, understand that this code opens the door to valuable background research on the company.
Farmers Insurance Complaint Index vs. Average
To demonstrate how NAIC numbers can be used to evaluate insurers, let’s check the complaint data for Farmers Insurance Exchange (NAIC 21652) as an example:
- Complaint Ratio – 0.46
- Complaint Index – 0.65
The complaint index compares the volume of complaints against a company to its overall market share based on premiums written. An average score is 1.00, so Farmers’ index of 0.65 indicates fewer-than-average complaints relative to competitors.
Shoppers can look up the complaint history of any insurer by NAIC number as part of researching options when purchasing a policy. It provides useful insight.
NAIC Numbers Empower Policyholders
At first glance, an insurance company’s NAIC number may seem insignificant. But this unique regulatory identifier opens the door for consumers to verify licensure, look up complaints, confirm financial strength, avoid scams, and make more informed choices when selecting coverage.
So the next time you see an NAIC number on documents from Farmers or any other insurance provider, understand its purpose and how it can be leveraged. For both regulators and everyday consumers, an insurer’s NAIC code tells an important story and can serve as a useful tool.
The primary NAIC number for Farmers Insurance Group is 21652, assigned to Farmers Insurance Exchange.
Individual affiliated insurers like 21st Century Insurance have unique NAIC codes for complaint and oversight tracking.
NAIC numbers allow regulators to coordinate oversight and consumers to lookup complaint records when researching insurers.
Insurance companies are assigned an NAIC number for life. Understanding what this five-digit code means can empower consumers and provide valuable insight into an insurer when needed.
Frequently Asked Questions About NAIC Numbers for Farmers Insurance
For insurance customers, NAIC numbers are one of those things that often appear on paperwork without much explanation of what they are or why they matter. Here are answers to some common questions specific to the NAIC number for Farmers Insurance:
What is the NAIC number for Farmers Insurance Group?
The primary NAIC number assigned to Farmers Insurance Group is 21652. This five-digit code corresponds specifically to the Farmers Insurance Exchange, which is the central company in the Farmers family of insurers.
Why does Farmers Insurance have more than one NAIC number?
Farmers consists of several affiliated insurance companies that operate under the Farmers brand. Subsidiaries like 21st Century Insurance Company, Foremost Insurance, and Mid-Century Insurance all have their own unique NAIC numbers assigned by insurance regulators for tracking purposes.
Where do I find the NAIC number for my Farmers policy?
Check your Farmers insurance card, declarations page, website, or call customer service. The specific five-digit NAIC number relating to your particular policy will depend on which group member issued your coverage.
How do insurance regulators use NAIC numbers?
Regulators use NAIC numbers to track complaints, monitor financial solvency, coordinate oversight, investigate company practices, and share data across different states where an insurer operates.
Why should consumers care about NAIC numbers?
An insurance company’s NAIC number allows consumers to verify legitimacy, look up complaint records, research financial strength ratings, avoid “ghost” insurers, and make more informed choices when selecting an insurance policy.
So while they seem innocuous, NAIC numbers provide policyholders with a useful tool when dealing with Farmers or any insurance company. The NAIC number tells an important story.
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