Overview
Toggle is Farmers Insurance's digital-first renters insurance offering, combining traditional insurer backing with a modern app experience. Our analysis reveals a middle-ground product: you get the financial stability of a major insurer but with limitations of a mobile-first platform. Terms inherit traditional insurance complexity while the app experience has limitations compared to pure insurtechs.
Key Concerns
- Higher Pricing: Generally higher premiums than pure insurtech competitors without proportionally better coverage.
- App Limitations: Mobile-first approach limits functionality; some tasks require contacting parent company.
- Traditional Terms Complexity: Policy terms inherit complexity of traditional Farmers Insurance documents.
- Farmers Data Sharing: Data shared across Farmers Insurance corporate ecosystem.
- Claims Processing Speed: Claims may not be as fast as AI-native competitors despite app interface.
Positive Aspects
- Farmers Backing: Financial stability of Farmers Insurance provides claim-paying security.
- Modern Interface: Easy-to-use app for quotes, policy management, and claims filing.
- Agent Access: Option to work with human agents through Farmers network if needed.
- Coverage Options: Access to broader coverage options through Farmers ecosystem.
Data Collection Summary
Toggle collects personal information, property details, and claims data as part of its insurance underwriting. Data is shared with Farmers Insurance and its corporate affiliates for underwriting, claims processing, and marketing. Standard insurance data sharing with reinsurers applies. Mobile app collects device data and usage analytics. Being part of a major insurer means comprehensive data integration across products.