Farmers vs. Travelers Car Insurance (2021)
Our Farmers vs. Travelers car insurance guide compares two great companies' car insurance rates, coverage, discounts, and third-party ratings. Although Farmers has a bigger market share, Travelers car insurance company has better ratings and cheaper rates. Your rates could vary. Shop around and compare to find the best rates.
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UPDATED: Feb 8, 2021
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- Farmers insurance and Travelers insurance make billions per year.
- Overall, Travelers has cheaper car insurance.
- You can bundle your homeowners or renters insurance to save money on car insurance premiums.
- Farmers car insurance company is more expensive but carries more car insurance coverage options.
- Create a Farmers or Travelers insurance login to access your policy on your smartphone or desktop computer.
If you want to know how you can save money at Farmers or Travelers car insurance company, read our Farmers vs. Travelers car insurance guide.
We’ll explain everything you need to know about how to compare car insurance, coverage options, discounts, and third-party ratings of two excellent car insurance companies.
Try entering your ZIP code in the free comparison tool above to compare multiple companies in your local area if you’re not interested in Farmers vs. Travelers car insurance quotes. Read on to learn more about Farmers vs. Travelers car insurance rates, coverages, and much more.
Farmers vs. Travelers Car Insurance: Which company is the cheapest?
You may have gotten an idea about which company is cheaper through the internet or word-of-mouth reviews.
Before you talk about how much you can spend on Farmers and Travelers auto insurance each month, let’s look at our contenders and see how they match up.
|Summary||Farmers Car Insurance Stats||Travelers Car Insurance Stats|
|Headquarters||6301 Owensmouth Avenue Woodland Hills, CA 91367||One Tower Square Hartford, CT 06183|
|Available in how many states?||All States||All States|
|Direct Premiums||$10.7 Billion||$5.5 Billion|
Both companies provide widespread coverage, but Farmers has an earning and market share advantage. Don’t count out Travelers just yet. Keep reading to see how these two companies compare across the United States.
Which is cheapest by state?
A significant factor when determining auto insurance is location. Different statistics, such as high crime rates and crash data, can affect your rates.
So what does Farmers and Travelers car insurance look like when you compare them by state. Let’s review the effects below. Type in your state to see if there are available rates.
|States||Average Monthly Farmers Car Insurance Rates||Average Monthly Travelers Car Insurance Rates|
|Alaska||Data Not Available||Data Not Available|
|Colorado||$441||Data Not Available|
|Connecticut||Data Not Available||$500|
|District of Columbia||Data Not Available||Data Not Available|
|Delaware||Data Not Available||$349|
|Florida||Data Not Available||Data Not Available|
|Georgia||Data Not Available||Data Not Available|
|Hawaii||$397||Data Not Available|
|Kentucky||Data Not Available||$546|
|Louisiana||Data Not Available||Data Not Available|
|Maryland||Data Not Available||Data Not Available|
|Massachusetts||Data Not Available||$295|
|Minnesota||$261||Data Not Available|
|Missouri||$359||Data Not Available|
|Mississippi||Data Not Available||$311|
|Montana||$326||Data Not Available|
|North Carolina||Data Not Available||$261|
|North Dakota||$258||Data Not Available|
|Nebraska||$333||Data Not Available|
|New Hampshire||Data Not Available||Data Not Available|
|New Mexico||$360||Data Not Available|
|New York||Data Not Available||$382|
|Oklahoma||$345||Data Not Available|
|Pennsylvania||Data Not Available||$654|
|Rhode Island||Data Not Available||$576|
|South Carolina||$391||Data Not Available|
|South Dakota||$314||Data Not Available|
|Texas||Data Not Available||Data Not Available|
|Utah||$326||Data Not Available|
|Virginia||Data Not Available||Data Not Available|
|Vermont||Data Not Available||Data Not Available|
|Washington||$247||Data Not Available|
|West Virginia||Data Not Available||Data Not Available|
|Wisconsin||$315||Data Not Available|
|Wyoming||$256||Data Not Available|
The monthly premiums fluctuate by state. However, Farmers has a national average of $212 per month, while Travelers has an average of $181 per month. Therefore, Travelers wins as the cheapest company by state.
Which is cheapest by vehicle?
Another significant factor that impacts your car insurance policy is the vehicle you drive. When you insure more than one vehicle, you could drive up your rates. Let’s see Farmers’ and Travelers’ responses through monthly costs.
|Number of Vehicles||Monthly Farmers Car Insurance Rates||Monthly Travelers Car Insurance Rates|
Travelers auto insurance rates are more cost-efficient. However, your rates could see a slight decrease if you qualify for a multi-vehicle and multi-driver discount.
Which is cheapest when bundling homeowners and renters insurance?
If you’re thinking about getting homeowners or renter insurance, try adding it to your overall insurance bill to save a few dollars on your monthly rates.
Adding another insurance service to your car insurance bill is called bundling. It can save you at least 12% on auto insurance.
What does that number look like for Farmers’ and Travelers’ monthly premiums? Let’s look at the rates.
|Own/Rent Summary||Monthly Farmers Car Insurance Rates||Monthly Travelers Car Insurance Rates|
In some scenarios, you could pay less per month at Farmers. However, Travelers auto insurance rates show a consistent decrease.
Which is cheapest by driving record?
Maintaining a clean driving record is a sure way to keep your auto insurance costs low. This is important because car insurance companies look back at your driving record for up to three years.
By then, minor traffic violations should be gone. However, DUIs and reckless driving convictions may stick around for a while and impact your rates.
Let’s see how Farmers and Travelers determine your car insurance based on your driving record.
|Driving Record Summary||Farmers Monthly Car Insurance Rates||Travelers Monthly Car Insurance Rates|
|Clean Driving Record||$288||$287|
|With One Speeding Violation||$340||$355|
|With One Accident||$377||$357|
|With One DUI||$393||$478|
Under a clean driving record and one accident, Travelers offers cheaper rates. However, Farmers has a more affordable rate for drivers with one speeding violation and others with one DUI.
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Farmers vs. Travelers Car Insurance Coverages
Cheap rates can work wonders for your finances, but what if those low prices don’t provide enough coverage? Let’s compare Farmers and Travelers and see which company has more coverage options.
|Farmers Car Insurance Coverages||Travelers Car Insurance Coverages|
|Uninsured / Underinsured Motorist||Personal Injury Protection|
|Medical Payments||Uninsured/Underinsured Motorist Coverage|
|Personal Injury Protection (PIP)||Medical Payments Coverage|
|Towing and roadside service||Loan/Lease Gap Insurance|
|Rental Car Reimbursement||Rental Coverage|
|Loss of Use||New Car Replacement|
|Guaranteed Value™||Accident Forgiveness|
|Customized Equipment||Ride Sharing|
|Personal Umbrella||Umbrella Insurance|
|Glass Deductible Buyback|
|Full Windshield and Glass Coverage|
|Spare Parts Coverage|
|Original Equipment Manufacturer (OEM)|
|New Car Replacement Coverage|
|Classic/Antique Car Coverage|
Although Travelers is less expensive, Farmers wins the coverage option battle. Farmers has matched Travelers coverage against coverage and even provides exclusive coverage for its customers.
Farmers vs. Travelers Car Insurance: Who has more discounts?
We talked a little about discounts in the previous sections, but we didn’t mention all discounts. Let’s compare Farmers and Travelers other discounts that you can qualify for.
|Car Insurance Discount Name||Farmers Discount Values||Travelers Discount Values|
|Affinity group discount||Varies||N/A|
|Anti-lock Brake Discount||Varies||N/A|
|Anti-Theft Device Discount||Varies||N/A|
|Claims Free Renewal Discount||Varies||N/A|
|Continuous Coverage Discount||N/A||15%|
|Daytime Running Lights Discount||Varies||N/A|
|Defensive Driver Discount||Varies||8%|
|Driving Habits Discount||Varies||N/A|
|Driving training discount||Varies||8%|
|Early Quote Discount||Varies||10%|
|Electronic Stability Control||Varies||N/A|
|Good Driver Discount||Varies||N/A|
|Good Payer Discount||Varies||15%|
|Good Student Discount||Varies||8%|
|Home Owner Discount||Varies||5%|
|Hybrid/Electric Vehicle Discount||N/A||10%|
|Low Mileage Discount||N/A||Varies|
|Mature driver discount||Varies||N/A|
|Multiple Policy Discount||10%||13%|
|Multiple Vehicle Discount||Varies||8%|
|New Car Discount||N/A||10%|
|No lapse in coverage discount||N/A||Varies|
|On Your Own Discount||Varies||N/A|
|Paid in full discount||Varies||8%|
|Paperless documents discount||Varies||N/A|
|Passive Restraint Discount||Varies||N/A|
|Preferred payment discount||Varies||3%|
|Professional organization discount||Varies||N/A|
|Provider Switch Discount||Varies||N/A|
|Safe Driver Discount||N/A||23%|
|Senior Adult Discount||Varies||N/A|
|Student Away at School Discount||Varies||7%|
|Youth Driving Discount||Varies||N/A|
Farmers have more discounts than Travelers, but all of Farmers’ discount values depend on specific circumstances. To get an absolute value, you’ll have to contact a Farmers insurance agent.
You can get a massive discount if you have a good credit score. According to Experian, auto insurance companies issue cheaper rates to customers who have good or excellent credit.
Why? Credit score correlates to risk. Therefore, a good credit score translates to less likely to file a claim.
However, customers with poor credit will likely receive higher auto insurance rates because they correlate to higher chances of filing a claim.
Farmers vs. Travelers Car Insurance Reviews
Why are reviews critical to the customer experience? Reviews can show you how a company performs and how it treats customers. We recommend that all shoppers check out the reviews before making a final decision.
We happen to have a few reviews for you in the subsections below. Our reviews include pros, cons, financial strength ratings, customer satisfaction ratings, and mobile app ratings.
Pros and Cons
Our research found a few pros and cons of Farmers and Travelers. Check out the advantages and disadvantages of both companies.
|Farmers Pros||Farmers Cons||Travelers Pros||Travelers Cons|
|Get extra benefits through when you shop with an agent||Farmers' online quote tool has a chance to miss deals||Several auto insurance options to choose from||Rideshare coverage is only available in Colorado and Illinois|
|Farmers have special coverage options for antique and classic cars||Above average complaint index||Moderate auto insurance rates||Ranked last in the auto insurance market share|
|Rideshare Coverage for rideshare drivers||Marginal-rated repair service|
Despite Travelers’ cheap auto insurance rates, it has more cons than pros. Meanwhile, Farmers has more advantages than drawbacks.
Financial Strength and Credit Ratings
If you want to see the most reliable ratings, check out the ratings from financial strength and credit rating agencies. We located the best rating agencies and compiled their results. Let’s examine them.
|Agencies||Farmers Ratings||Travelers Ratings|
|Better Business Bureau (BBB)||A+||A+|
|NAIC Complaint Index||1.08||0.32|
|J.D. Power - Power Circle Ratings||About Average||About Average|
AM Best, Moody’s, and S&P judges the financial strength of both companies. Based on their ratings, Travelers has a better economic outlook than Farmers.
The BBB, NAIC, J.D. Power, and Consumer Reports show customer satisfaction scores. Under the BBB and J.D. Power, Farmers and Travelers have the same score.
However, Travelers has a better customer satisfaction score under NAIC and Consumer Reports.
Mobile App Ratings
The best insurance companies have invested in mobile apps. Why? Smartphones are more than just a trendy craze – they’re essential to our day-to-day lives.
Therefore, the customer experience on a smartphone is just as necessary as any other ratings. We researched the web and found the latest mobile app ratings of Farmers and Travelers.
|Smart Device Stores/Systems||Farmers Mobile App Star Ratings||Travelers Mobile App Star Ratings|
|Apple App Store (iOS)||5 stars||2 stars|
|Google Play Store (Android)||4 stars||4 stars|
Although Farmers and Travelers have the same score on Android’s Google Play Store, Farmers has a better customer experience on Apple’s iOS.
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Farmers vs. Travelers Car Insurance: The Bottom Line
Travelers is a cheaper company with better financial strength and credit ratings. However, Farmers has Travelers beat in direct premiums and market share. It all boils down to what you need.
To compare companies outside of the Farmers vs. Travelers car insurance guide, enter your ZIP code in the free online quote tool.