Farmers vs. State Farm Car Insurance: Expert Recommended (2024)

In this comprehensive comparison between Farmers and State Farm car insurance, we delve into the intricacies of rates, coverage options, and customer satisfaction to empower you with the insights needed for a well-informed decision.

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Tonya Sisler

Insurance Content Team Lead

Tonya Sisler has been a technical insurance writer for over five years. She uses her extensive insurance and finance knowledge to write informative articles that answer readers' top questions. Her mission is to provide readers with timely, accurate information that allows them to determine their insurance needs and choose the best coverage. Tonya currently leads a team of 10 insurance copywrite...

Insurance Content Team Lead

Brad Larson

Licensed Insurance Agent

Brad Larson has been in the insurance industry for over 16 years. He specializes in helping clients navigate the claims process, with a particular emphasis on coverage analysis. He received his bachelor’s degree from the University of Utah in Political Science. He also holds an Associate in Claims (AIC) and Associate in General Insurance (AINS) designations, as well as a Utah Property and Casual...

Licensed Insurance Agent

UPDATED: Feb 14, 2024

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Finding the most favorable rates involves a nuanced analysis of key factors. Delving into the comprehensive data table below, we uncover insights into how credit scores, mileage, coverage levels, and driving records shape insurance rates for Farmers and State Farm. Whether you prioritize financial prudence, maintain a stellar driving record, or seek extensive coverage, this exploration succinctly guides you. Discover which company emerges as the optimal choice for your unique profile, offering competitive rates that align with your specific needs.

FactorFarmersState Farm
Clean Record$139$86
1+ Ticket$173$96
1+ Accident$198$102
DUI$193$112
Poor Credit$239$148

*monthly rates are based on an average of minimum and full coverage for a 45-year-old male driver

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DiscountFarmersState Farm
Anti Theft15%8%
Good Student10%7%
Low Mileage10%9%
Paperless10%6%
Safe Driver5%8%
Senior Driver15%12%

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Farmers Insurance

Pros:

  • Coverage Options: Farmers provides a wide range of coverage options, giving customers flexibility in choosing the protection that suits their needs.
  • Discount Variety: Farmers offers a diverse selection of discounts, potentially helping customers reduce overall insurance costs.
  • Mobile App Experience: Farmers’ mobile app receives positive ratings, especially on the iOS platform, providing convenient access to policy information.

Cons:

  • Higher Rates: Farmers’ auto insurance rates tend to be higher than State Farm’s, which may be a drawback for cost-conscious consumers.
  • Fewer Discounts for Young Drivers: While Farmers offers various discounts, the value for teen drivers may not be as substantial compared to State Farm.

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State Farm

Pros:

  • Competitive Rates: State Farm generally offers more competitive rates, making it an attractive option for budget-conscious customers.
  • Financial Strength: State Farm boasts better financial strength ratings from AM Best, Moody’s, and S&P compared to Farmers.
  • Customer Satisfaction: State Farm excels in customer satisfaction, outperforming Farmers in various studies and reviews.

Cons:

  • Limited Coverage Options: State Farm may have fewer coverage options compared to Farmers, potentially limiting customization for certain policyholders.
  • Fewer Discounts: State Farm offers fewer discounts compared to Farmers, potentially resulting in less opportunity for cost savings.

The Verdict: State Farm – The Best Overall Choice

When evaluating the car insurance landscape between Farmers and State Farm, one company emerges as the clear winner: State Farm.

Competitive Rates: State Farm takes the lead with consistently competitive rates. Affordability is a critical factor for many insurance shoppers, and State Farm’s ability to provide cost-effective coverage sets it apart.

Financial Strength: The superior financial strength ratings from AM Best, Moody’s, and S&P further solidify State Farm’s position as a reliable and stable insurance provider. This financial robustness instills confidence in the company’s ability to fulfill its obligations to policyholders.

Customer Satisfaction: State Farm’s commitment to excellent customer service is evident in its outperformance in various customer satisfaction studies. Satisfied customers attest to the company’s dedication to resolving claims and meeting policyholders’ needs.

While Farmers may excel in certain aspects such as coverage options and a well-rated mobile app, the overall package offered by State Farm, considering rates, financial strength, and customer satisfaction, makes it the best choice for car insurance.

When it comes to striking the right balance between affordability, reliability, and customer service, State Farm stands out as the preferred option.

Farmers vs. State Farm Car Insurance: Which company is the cheapest?

Before we go into which company is the cheapest, let’s see the matchup between Farmers and State Farm. This will give you an idea of each company’s capability to provide reliable car insurance.

Farmers vs. State Farm Summary
SummaryFarmers Car Insurance StatsState Farm Car Insurance Stats
Year Founded19281922
Headquarters6301 Owensmouth Avenue Woodland Hills, CA 91367One State Farm Plaza Bloomington, IL 61710
Available in how many states?All StatesAll States
Direct Premiums$10.7 Billion$41.1 Billion
Market Share4%16%

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State Farm’s direct premiums and market share are much bigger than Farmers’ stats. However, smaller numbers don’t mean a company is less reliable. There may be a few factors that make Farmers a better company, but that’s up to you to decide.

If you want a closer look at both companies, check out Farmers Insurance Group review or State Farm reviews for more information.

Which is cheapest by driving record?

One of the most significant factors when your determining auto insurance premium is your driving record. Car insurance companies want to know your driving performance.

According to the Texas Department of Insurance, an auto insurance company is supposed to issue cheaper rates after three years of no traffic incidents or traffic-related convictions. If you have any traffic violations or convictions on your driving record, here’s what your car insurance rates could look like at Farmers and State Farm.

Average Monthly Farmers vs. State Farm Car Insurance Rates by Driving Records
Driving Record SummaryFarmers Monthly Car Insurance RatesState Farm Monthly Car Insurance Rates
Clean Driving Record$288$235
With One Speeding Violation$340$266
With One Accident$377$283
With One DUI$393$303

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Clean driving records generate the cheapest rates at both companies. However, State Farm is the more affordable company regarding driving records.

Which is cheapest by credit score?

Your credit score is a significant factor too. Car insurance companies correlate your credit score to your level of risk. The better your credit, the less you’ll pay for auto insurance per month.

https://youtu.be/5vECnYMwnlA

If you have a bad credit score, auto insurance companies will issue a much higher price. Let’s examine how Farmers and State Farm calculate your car insurance based on credit score.

Average Monthly Farmers vs. State Farm Car Insurance Rates by Credit Scores
Credit Score SummaryFarmers Monthly Car Insurance RatesState Farm Monthly Car Insurance Rates
Good Credit (670-739)$306$181
Fair Credit Score (580-669)$325$238
Poor Credit Score (300-579)$405$413

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State Farm is cheaper than Farmers until you compare the poor credit score. Farmers car insurance is less expensive for customers who have a bad credit score.

Read more: Best Car Insurance for Drivers with Bad Credit

Which is cheapest by age?

If you’re already familiar with car insurance, you know that car insurance companies issue expensive rates when a teen driver is on your policy. Non-standard auto insurance rates usually cover young drivers. Meanwhile, drivers over the age of 24 have cheaper rates for their monthly or annual premiums. Let’s examine Farmers and State Farm auto insurance rates based on age.

Average Monthly Farmers vs. State Farm Car Insurance Rates by Age
Age of DriversFarmers Monthly Car Insurance RatesState Farm Monthly Car Insurance Rates
60-Year-Old Driver$199$156
35-Year-Old Driver$213$173
25-Year-Old Driver$250$204
17-Year-Old Driver$736$553

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Farmers auto insurance charges $40 or more than State Farm when they calculate car insurance rates by age. Take advantage of student discounts to lower expensive rates for teen drivers and consider an older car for teen drivers.

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Farmers vs. State Farm Car Insurance Coverages

When it comes to auto insurance rates, State Farm appears to have won that battle. What about policy options and car insurance coverages?

We compiled a list of auto insurance coverages that’s available at both companies. Let’s check out the comparison and see which company has more.

Comparing Farmers and State Farm Car Insurance Coverages
Farmers Car Insurance CoveragesState Farm Car Insurance Coverages
LiabilityCollision Coverage
CollisionComprehensive Coverage
ComprehensiveLiability Coverage
Uninsured / Underinsured MotoristCar Rental and Travel Expenses Coverage
Medical PaymentsUninsured Motorist Coverage
Personal Injury Protection (PIP)Underinsured Motorist Coverage
Towing and roadside serviceMedical Payments Coverage
Rental Car ReimbursementEmergency Roadside Assistance
RideshareRideshare Driver Coverage
Loss of Use
Guaranteed Value™
Customized Equipment
Personal Umbrella
Glass Deductible Buyback
Full Windshield and Glass Coverage
Spare Parts Coverage
Original Equipment Manufacturer (OEM)
New Car Replacement Coverage
Accident Forgiveness
Classic/Antique Car Coverage

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State Farm car insurance rates may be cheaper, but Farmers have more coverage options. The number of coverage may explain why their auto insurance rates are more expensive.

Farmers vs. State Farm Insurance Products

If you have your eye on another insurance service, try searching within the company where you’re getting auto insurance. Most car insurance providers offer bundling discounts when you add another insurance service to the bill.

Let’s review a list of insurance products Farmers and State Farm provides for customers.

Farmers and State Farm Insurance Products
Other Insurance ProductsFarmers AvailabilityState Farm Availability
Boat Insurance
Condo Insurance
Life Insurance
Homeowners Insurance
Travel Trailer Insurance
Renters Insurance
RV Insurance
Motorcycle Insurance
Mobile Home Insurance

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Once again, Farmers provides a little more than State Farm. Despite Farmers’ market share, it has a bigger solution than most companies.

Farmers vs. State Farm Car Insurance: Who has more discounts?

You should never give up on a car insurance company because sample rates show expensive rates. Why? Discounts can slash prices, making a costly car insurance rate turn into a cost-efficient price. Let’s compare the number of deals that are available at Farmers and State Farm.

Comparing Farmers and State Farm Discounts
Car Insurance Discount NameFarmers Discount ValuesState Farm Discount Values
Accident Free DiscountN/A15%
Affinity group discountVariesN/A
Anti-lock Brake DiscountVaries20%
Anti-Theft Device DiscountVaries15%
Claims Free Renewal DiscountVariesVaries
Daytime Running Lights DiscountVariesVaries
Defensive Driver DiscountVaries5%
Driving Habits DiscountVaries30%
Driving training discountVariesVaries
Early Quote DiscountVariesN/A
E-billing DiscountVariesN/A
Electronic Stability ControlVariesN/A
EV/Hybrid Discount5%N/A
Family DiscountVariesN/A
Good Credit DiscountN/A80%
Good Driver DiscountVaries25%
Good Payer DiscountVariesN/A
Good Student DiscountVaries25%
Home Owner DiscountVariesVaries
Low Mileage DiscountN/A10%
Loyalty DiscountVariesVaries
Mature driver discountVariesVaries
Military DiscountVariesVaries
Multiple Policy Discount10%17%
Multiple Vehicle DiscountVaries20%
New Car DiscountN/A40%
On Your Own DiscountVariesN/A
Organization DiscountVariesN/A
Paid in full discountVariesN/A
Paperless documents discountVariesN/A
Passive Restraint DiscountVaries40%
Preferred payment discountVariesN/A
Prepay DiscountVariesN/A
Professional organization discountVariesN/A
Provider Switch DiscountVariesN/A
Senior Adult DiscountVariesVaries
Student Away at School DiscountVariesVaries
teenSMART DiscountVaries15%
Travelink DiscountN/AVaries
VIN EtchingVariesN/A
Youth Driving DiscountVariesN/A

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State Farm has fewer discounts, while Farmers has a large assortment of discounts you could qualify for. However, the value of most Farmers’ discounts depends on specific conditions. You’ll have to ask a Farmers customer service representative for more details.

Farmers vs. State Farm Car Insurance Reviews

To ensure that you’re making the right choice when buying auto insurance, you should check out various ratings. Each rating reveals something about how a company you’re curious about performs.

We explain Farmers’ and State Farm’s pros, cons, and third-party ratings in the subsections below. The purpose of these ratings and reviews is to provide you with the reassurance that you’re making the right decision.

Financial Strength and Credit Ratings

Have you ever wondered how auto insurance companies manage money? Every year, car insurance companies are judged on how they handle money and what customer satisfaction is like for a company.

Farmers and State Farm participate in these studies, and financial strength and credit rating agencies publish their results online through various publications. Here are the latest reports of the most reliable agencies.

Farmers vs. State Farm Financial Strength and Credit Ratings
AgenciesFarmers RatingsState Farm Ratings
AM BestAA++
Better Business Bureau (BBB)A+A+
Moody'sA2Aa1
S&PAAA
NAIC Complaint Index1.080.98
J.D. Power - Power Circle RatingsAbout AverageBetter Than Most
Consumer Reports8989

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AM Best, Moody’s, and S&P show the financial strength of Farmers and State Farm. So far, State Farm’s ratings are much better than Farmers’ ratings.

The BBB, NAIC Complaint Index, J.D. Power, and Consumer Reports show customer satisfaction scores. Although Farmers and State Farm have the same Consumer Reports rating, State Farm outperforms Farmers in all other customer satisfaction studies.

Mobile App Ratings

Since smartphones are essential to most auto insurance shoppers, companies want to remain versatile. Therefore, companies like Farmers and State Farm provide mobile apps for customers. All mobile apps are provided in the Apple App Store and the Google Play Store. Each store allows consumers to rate apps. Let’s see how Farmers and State Farm are rated on each platform.

Farmers vs. State Farm Mobile App Ratings
Smart Device Stores/SystemsFarmers Mobile App Star RatingsState Farm Mobile App Star Ratings
Apple App Store (iOS)5 stars3 stars
Google Play Store (Android)4 stars4 stars

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Overall, Farmers has a much better mobile app experience. Farmers’ iOS rating is two stars higher than State Farm. However, both companies have the same rating in the Google Play Store. If you want to use Farmers’ or State Farm’s insurance mobile app, create a Farmers login or State Farm login to access your auto insurance policy on your smartphone.

Read more:

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Evaluating Claims Processes: Farmers vs. State Farm Car Insurance

Ease of Filing a Claim (online, over the phone, mobile apps)

When it comes to the claims process for Farmers and State Farm car insurance, both companies offer multiple avenues for policyholders to file claims. You can conveniently file a claim with both companies through their online platforms, over the phone, or by using their mobile apps.

Both Farmers and State Farm understand the importance of providing flexibility in the claims reporting process, making it easy for customers to report incidents in a way that suits their preferences.

Read more: How does the car insurance claims process differ for uninsured/underinsured motorist coverage with Farmers?

Average Claim Processing Time

The average claim processing time is a crucial factor to consider when evaluating an insurance provider. While the specific processing time may vary depending on the complexity of the claim and the circumstances, both Farmers and State Farm aim to process claims efficiently to provide timely assistance to their policyholders.

It’s essential to keep in mind that claim processing times can be influenced by various factors, including the nature of the claim and the documentation provided by the policyholder.

Customer Feedback on Claim Resolutions and Payouts

Customer feedback on claim resolutions and payouts can provide valuable insights into the overall customer experience with an insurance company. Both Farmers and State Farm have a history of serving customers, and their track records include numerous customer testimonials and reviews.

When assessing customer feedback on claim resolutions and payouts, it’s essential to consider the individual circumstances of each claim. Factors such as policy coverage, claim documentation, and the specific details of the incident can all impact the outcome of a claim.

Exploring the Digital Advancements: Farmers vs. State Farm Car Insurance

Mobile App Features and Functionality

Both Farmers and State Farm offer mobile apps that provide policyholders with convenient access to their insurance information. These apps typically include features such as digital ID cards, claims filing capabilities, bill payment options, and access to policy documents.

The mobile app experience may vary between the two companies, so it’s recommended to explore and compare the features and functionality offered by each app to determine which one aligns better with your preferences and needs.

Online Account Management Capabilities

Managing your insurance policies online is becoming increasingly important in today’s digital age. Both Farmers and State Farm offer online account management capabilities that allow policyholders to review and update their policies, make payments, and access important documents through secure online portals.

Online account management can provide policyholders with the flexibility and convenience to handle their insurance needs from anywhere with internet access.

Digital Tools and Resources

In addition to mobile apps and online account management, Farmers and State Farm may offer various digital tools and resources to assist policyholders. These tools may include educational resources, insurance calculators, and resources for safe driving.

Exploring the digital tools and resources provided by each company can help you assess their commitment to helping customers make informed decisions and maintain safe driving habits.

Farmers vs. State Farm Car Insurance: The Bottom Line

State Farm has many advantages over Farmers, but there are a few things Farmers has that you could use. Try grabbing a quote from both companies to see which company works best for you. Check out other auto insurance rates in your local area by entering your ZIP code in the free online quote below if you want to find companies outside the Farmers vs. State Farm car insurance guide.

Frequently Asked Questions

Which company offers better customer service, Farmers or State Farm?

Both Farmers and State Farm have a reputation for providing excellent customer service. They have dedicated customer support teams available to assist with claims, policy changes, and other inquiries.

Does Farmers or State Farm offer roadside assistance?

Both Farmers and State Farm offer roadside assistance as an optional add-on to their car insurance policies. This coverage can provide help with services like towing, jump-starts, and lockout assistance.

Can I get a quote from both Farmers and State Farm before deciding?

Yes, you can get a quote from both Farmers and State Farm to compare their prices and policies. It’s recommended to get multiple quotes from different companies to ensure you’re getting the best deal.

Can I bundle my car insurance with other types of insurance with Farmers or State Farm?

Both Farmers and State Farm offer the ability to bundle your car insurance with other types of insurance, such as homeowners or renters insurance. Bundling can often result in discounts and simplified billing.

Can I get coverage for a leased or financed vehicle with Farmers or State Farm?

Yes, both companies offer coverage for leased or financed vehicles. It’s recommended to review their policies to see what specific coverages are available for leased or financed cars.

Does Farmers or State Farm offer coverage for ridesharing services like Uber or Lyft?

Both companies offer coverage options for ridesharing services as an optional add-on to their policies. This coverage can provide protection for drivers who use their personal vehicles for ridesharing.

Can I customize my coverage with Farmers or State Farm?

Yes, both companies offer the ability to customize your coverage to fit your specific needs. You can choose from a variety of coverage options and limits to create a policy that works best for you.

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