Farmers vs. State Farm Car Insurance (2021)
Farmers and State Farm are excellent car insurance companies. However, our Farmers vs. State Farm car insurance guide reveals that both companies' earnings are like night and day. State Farm has better rates and a better A.M. Best rating. To get the full outlook of the Farmers vs. State Farm auto insurance matchup, compare rates, coverages, discounts, and third-party ratings.
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UPDATED: Feb 8, 2021
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- Farmers insurance has a lower market share than State Farm insurance, but State Farm’s rates are cheaper.
- Your car insurance rates are determined by several factors, such as driving record, credit score, and age.
- More Farmers or State Farm coverage on your policy could mean higher prices.
- State Farm is a good company, but its mobile app ratings lag Farmers’ mobile app ratings.
Farmers and State Farm are excellent companies, but you may not be aware of some of the companies’ differences.
Our Farmers vs. State Farm auto insurance review, helps you compare car insurance rates, coverages, discounts, other insurance products, and third-party ratings.
State Farm and Farmers aren’t your only options. If you don’t want to look at Farmers vs. State Farm car insurance quotes, enter your ZIP code in the free comparison tool above to compare auto quotes from multiple companies.
To learn more about Farmers vs. State Farm car insurance rates, keep reading.
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.
|Summary||Farmers Car Insurance Stats||State Farm Car Insurance Stats|
|Headquarters||6301 Owensmouth Avenue Woodland Hills, CA 91367||One State Farm Plaza Bloomington, IL 61710|
|Available in how many states?||All States||All States|
|Direct Premiums||$10.7 Billion||$41.1 Billion|
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.
Which is cheapest by driving record?
One of the most significant factors when determining auto insurance 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.
|Driving Record Summary||Farmers Monthly Car Insurance Rates||State 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|
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.
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.
|Credit Score Summary||Farmers Monthly Car Insurance Rates||State 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|
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.
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. Let’s examine Farmers and State Farm auto insurance rates based on age.
|Age of Drivers||Farmers Monthly Car Insurance Rates||State Farm Monthly Car Insurance Rates|
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 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.
|Farmers Car Insurance Coverages||State Farm Car Insurance Coverages|
|Uninsured / Underinsured Motorist||Car Rental and Travel Expenses Coverage|
|Medical Payments||Uninsured Motorist Coverage|
|Personal Injury Protection (PIP)||Underinsured Motorist Coverage|
|Towing and roadside service||Medical Payments Coverage|
|Rental Car Reimbursement||Emergency Roadside Assistance|
|Rideshare||Rideshare Driver Coverage|
|Loss of Use|
|Glass Deductible Buyback|
|Full Windshield and Glass Coverage|
|Spare Parts Coverage|
|Original Equipment Manufacturer (OEM)|
|New Car Replacement Coverage|
|Classic/Antique Car Coverage|
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.
|Other Insurance Products||Farmers Availability||State Farm Availability|
|Travel Trailer Insurance||✔|
|Mobile Home Insurance||✔||✔|
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.
|Car Insurance Discount Name||Farmers Discount Values||State Farm Discount Values|
|Accident Free Discount||N/A||15%|
|Affinity group discount||Varies||N/A|
|Anti-lock Brake Discount||Varies||20%|
|Anti-Theft Device Discount||Varies||15%|
|Claims Free Renewal Discount||Varies||Varies|
|Daytime Running Lights Discount||Varies||Varies|
|Defensive Driver Discount||Varies||5%|
|Driving Habits Discount||Varies||30%|
|Driving training discount||Varies||Varies|
|Early Quote Discount||Varies||N/A|
|Electronic Stability Control||Varies||N/A|
|Good Credit Discount||N/A||80%|
|Good Driver Discount||Varies||25%|
|Good Payer Discount||Varies||N/A|
|Good Student Discount||Varies||25%|
|Home Owner Discount||Varies||Varies|
|Low Mileage Discount||N/A||10%|
|Mature driver discount||Varies||Varies|
|Multiple Policy Discount||10%||17%|
|Multiple Vehicle Discount||Varies||20%|
|New Car Discount||N/A||40%|
|On Your Own Discount||Varies||N/A|
|Paid in full discount||Varies||N/A|
|Paperless documents discount||Varies||N/A|
|Passive Restraint Discount||Varies||40%|
|Preferred payment discount||Varies||N/A|
|Professional organization discount||Varies||N/A|
|Provider Switch Discount||Varies||N/A|
|Senior Adult Discount||Varies||Varies|
|Student Away at School Discount||Varies||Varies|
|Youth Driving Discount||Varies||N/A|
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.
Pros and Cons
Let’s begin our investigation with advantages and disadvantages at Farmers and State Farm.
|Farmers Pros||Farmers Cons||State Farm Pros||State Farm Cons|
|Get extra benefits through when you shop with an agent||Farmers' online quote tool has a chance to miss deals||Easy to file a claim||Cost is higher for customers with poor credit|
|Farmers have special coverage options for antique and classic cars||Above average complaint index||Cheap auto insurance rates||Has fewer discounts than most competitors|
|Rideshare Coverage for rideshare drivers||Good financial strength ratings|
|Excellent customer review ratings|
Both companies show promise. Farmers and State Farm have more pros than cons.
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.
|Agencies||Farmers Ratings||State Farm Ratings|
|Better Business Bureau (BBB)||A+||A+|
|NAIC Complaint Index||1.08||0.98|
|J.D. Power - Power Circle Ratings||About Average||Better Than Most|
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.
|Smart Device Stores/Systems||Farmers Mobile App Star Ratings||State Farm Mobile App Star Ratings|
|Apple App Store (iOS)||5 stars||3 stars|
|Google Play Store (Android)||4 stars||4 stars|
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 policy on your smartphone.
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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.