New Homeowners Insurance Product
Farmers Insurance Smart Plan Home ®
Different Packages and Features
Standard: Aligns closer to the Allstate® core home product: Allstate House and Home®
Enhanced: Aligns closer to Nationwide® and Liberty Mutual® core home product offerings
Premier: Similar to the current Texas Next Generation (Next Gen) offering and aligns closer to the State Farm core home product offering.
Additional Features Include:
- A new rating plan and credit model
- A new policy contract and endorsements, with the Enhanced package as the base contract
- New flat percentage multi-line and Pay Plan discounts to improve cross-sell and competitiveness
- Customer loyalty benefits including Declining Deductibles®, Claim Free Discount and Claim Forgiveness
- A Guaranteed Replacement Cost option available for eligible properties
- New coverage options such as limited matching, marring to metal roof materials, two slab access coverage limits and scheduled roof payment.
- No mandatory property inspection (by an agent) for most risks