Farmers vs. GEICO: Pros & Cons (2021)

When comparing insurers like Farmers vs. GEICO, it is best to look at price, discounts, and company ratings. GEICO offers more competitive pricing than Farmers, being on average $800 cheaper. Of the information we have, GEICO also offers more discounts. GEICO's A.M. Best rating is A++ and Farmers' A.M. Best rating is A.

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Rachel Bodine graduated from college with a BA in English. She has since worked as a Feature Writer in the insurance industry and gained a deep knowledge of state and countrywide insurance laws and rates. Her research and writing focus on helping readers understand their insurance coverage and how to find savings. Her expert advice on insurance has been featured on sites like PhotoEnforced, All...

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Leslie Kasperowicz holds a BA in Social Sciences from the University of Winnipeg. She spent several years as a Farmers Insurance CSR, gaining a solid understanding of insurance products including home, life, auto, and commercial and working directly with insurance customers to understand their needs. She has since used that knowledge in her more than ten years as a writer, largely in the insurance...

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Reviewed by Leslie Kasperowicz
Farmers CSR for 4 Years

UPDATED: Jul 18, 2021

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What You Should Know

  • GEICO offers more competitive pricing than Farmers
  • GEICO offers a wider array of discounts than Farmers
  • Both Farmers and GEICO are highly-rated, but GEICO has a slightly higher rating

Since you’re here with us today, you must be looking for your next, or possibly first insurer. The process of choosing the right insurer and understanding auto insurance is a complicated process.

This is why we’re going to simplify matters. Farmers vs. GEICO: which company is best for you? Before you buy auto insurance, type your ZIP code into our free and helpful tool above to find affordable auto insurance quotes in your area.

Farmers vs. GEICO Rates: Which is cheaper?

When comparing insurers, it’s best to start with what’s important to you: pricing. Let’s take a look at a table that compares not only Farmers and Liberty Mutual rates, but the rates for all of the biggest insurers in the U.S.A as well.

Average Annual Auto Insurance Rates by Company
CompanyAverage Annual Auto Insurance Rates
Allstate$4,533
American Family$3,699
Farmers$3,910
GEICO$3,074
Liberty Mutual$5,296
Nationwide$3,187
Progressive$3,935
State Farm$2,731
Travelers$3,729
USAA$2,489
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As you can see, Farmers is a little over $800 more expensive than GEICO. Of the 10 total insurers, Farmers insurance is cheaper than three: Allstate, Liberty Mutual, and Progressive.

GEICO insurance is cheaper than a whopping seven: Allstate, American Family, Farmers, Liberty Mutual, Nationwide, Progressive, and Travelers.

So, we can say that GEICO wins in terms of pricing. Let’s move on and see how these two companies did in terms of discounts.

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Farmers vs. GEICO Discounts: Which offers more?

One thing you must get out of this article is the importance of discounts. When you are assigned an agent, be diligent and inquire as to what discounts you can accrue that are applicable to your life. Let’s take a look at a table that shows some of the major discounts available from these big insurers.

Discounts Provided by Major Auto Insurance Companies
CompaniesEmergency DeploymentFederal EmployeeForward Collision WarningMembership/GroupMilitaryMilitary GaragingOccupationRecent Retirees
21st Century
AAAx
Allstatexx
American Family
Ameriprisex
Amicax
Country Financialxx
Esurancexxx
Farmersxxx
GEICOxxxxx
Liberty Mutualxxxxxx
MetLifexxxxx
Nationwidexxx
Progressivex
Safe Autox
Safecoxxx
State Farmx
The Generalx
The Hanoverxx
The Hartfordxxxx
Travelersxx
USAAxx
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As you can see, Farmers offers only three of the eight shown discounts. These discounts are for: being a federal employee, being a member of the military, and being a member of a specific occupation (ask your assigned agent if you qualify).

GEICO offers five of the eight — over half of the discounts shown above. They offer discounts for having emergency deployment in your vehicle, for being a federal employee, being a member of a particular group (ask your assigned GEICO agent), being in the military, and being in a specific occupation.

So, for discount availability, GEICO wins again. What’s even better is a lot of these discounts are as simple as typing in your GEICO login on the app. Let’s see if Farmer’s can get a leg up in terms of company ratings.

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Farmers vs. GEICO: Which is more highly-rated?

We’ve gone over pricing and discounts, let’s now go over company ratings. Financial strength ratings from companies like the Better Business Bureau and A.M. Best are there to make you feel a bit more comfortable about the strength of your auto insurance company.

Currently, Farmers is Better Business Bureau accredited with a rating of A+. GEICO is not currently BBB accredited but they also hold a rating of A+.

Farmers currently has a rating of A from A.M. Best (its third-highest rating), but it is of note that that rating is currently under review. GEICO currently has the highest rating possible from A.M. Best of A++ and their rating is not under review.

How do you get auto insurance quotes? A great start is by typing your ZIP code into our free and helpful tool below to find affordable auto insurance rates in your area.

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