Farmers Insurance vs. State Farm: Pros & Cons (2021)
When it comes to Farmers insurance vs a State Farm auto insurance policy, State Farm has the lowest rates, the best financial ratings, and the best customer satisfaction rankings. However, Farmers insurance does have the cheapest rates if you have poor credit. Both companies offer a collection of discounts that can be applied to further lower rates.
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UPDATED: Aug 17, 2021
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- Farmers auto insurance rates are higher than State Farm unless you have bad credit
- Both companies offer a slew of auto insurance discounts to save you money
- State Farm has higher financial and customer satisfaction ratings
When it comes to the best auto insurance companies, you have a lot of options, and comparing them side by side will help you narrow down your choices. We will look at Farmers vs. State Farm auto insurance companies to see which one fits your needs best.
Compare prices, discounts, financial ratings, and customer satisfaction ratings to see if either is right for you. Think about the pros and cons of each car insurance company before you make a decision.
You don’t have to choose between Farmers and State Farm to find the best car insurance company. Enter your ZIP code to get free auto insurance quotes from a range of companies in your state.
Is Farmers auto insurance or State Farm auto insurance cheaper?
It may surprise you to learn how your car insurance rates are calculated. An auto insurer looks at factors including your age, driving record, and credit history.
These factors are just a few that will be used to determine how affordable Farmers vs. State Farm auto insurance is for you. Your individual factors will determine which company is best for you.
Younger drivers are charged more than older drivers, but you might be shocked just how age affects auto insurance rates. This table will compare Farmers vs, State Farm auto insurance rates to determine the cheapest company for your demographics.
|Age, Gender, and Marital Status||Farmers Average Annual Rates||State Farm Average Annual Rates|
|Single 17-year-old female||$8,521.97||$5,953.88|
|Single 17-year-old male||$9,144.04||$7,324.34|
|Single 25-year-old female||$2,946.80||$2,335.96|
|Single 25-year-old male||$3,041.44||$2,554.56|
|Married 35-year-old female||$2,556.98||$2,081.72|
|Married 35-year-old male||$2,557.75||$2,081.72|
|Married 60-year-old female||$2,336.80||$1,873.89|
|Married 60-year-old male||$2,448.39||$1,873.89|
State Farm is much cheaper than Farmers, saving younger drivers thousands of dollars a year — a fact that would make Jake from State Farm happy.
One of the most important factors that are used to calculate your auto insurance rates is your driving record. If you have accidents, tickets, or DUIs on your record, you can pay much more for your insurance than if you have a clean driving record.
This table shows you how Farmers vs. State Farm auto insurance stacks up based on your driving record.
|Driving Record||Farmers Average Annual Rates||State Farm Average Annual Rates|
|With 1 accident||$4,518.73||$3,396.01|
|With 1 DUI||$4,718.75||$3,636.80|
|With 1 speeding violation||$4,079.01||$3,186.01|
Farmers is much more expensive than State Farm, no matter what your driving record looks like.
One factor that car insurance companies look at that isn’t as obvious is your credit score. Insurance companies believe that if you have a higher credit score, you are less likely to file a claim and are more able to pay for losses out of pocket.
|Credit History||Farmers Average Annual Rates||State Farm Average Annual Rates|
Farmers is once more the most expensive company unless you have bad credit. State Farm charges drivers with poor credit almost $100 a year more than Farmers.
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Does Farmers or State Farm have better auto insurance discounts?
You can save a lot of money on your car insurance by taking advantage of discounts. Most companies offer a slew of discounts, such as multi-car, good student, and safe driver discounts.
This table shows you the available discounts through Farmers and State Farm. Take a look and see which company offers you the most discounts to lower your insurance rate.
|Discounts||Farmers Discount Amount||State Farm Discount Amount|
|Daytime Running Lights||x||N/A|
|Electronic Stability Control||x||N/A|
Ask for all discounts you are eligible for when it comes time to compare Farmers vs. State Farm auto insurance quotes.
How do Farmers and State Farm compare in financial strength and customer satisfaction?
A.M. Best ranks the financial stability of companies based on how well they can meet monetary obligations. Farmers received an A rating, meaning they have an excellent ability to meet their obligations. State Farm earned an A+ rating showing they have a superior ability to meet their obligations.
However, Farmers received an A+ ranking from the Better Business Bureau, and State Farm insurance received an A. Also, Farmers is accredited and State Farm isn’t.
Farmers and State Farm were ranked by J.D. Power on customer satisfaction, including prices, billing, claims, and what is offered. Farmers ranked about average, and State Farm ranked above average.
Customers can use their Farmers or State Farm login to access their insurance coverage information, find their ID card, or pay bills on either the mobile app or website. So, wondering what to do if your car breaks down? Well, both companies also offer additional services like the best roadside assistance that can be accessed the same way.
Deciding to buy Farmers vs. State Farm auto insurance can be a difficult decision. To determine if either is right for you, look at rates, discounts, and ratings. Each company has pros and cons. You can also compare additional companies to see which one is the best fit.
Now that you’ve compared Farmers vs. State Farm rates, discounts and rankings, enter your ZIP code to compare quotes from several companies near you.