Is State Farm the same as Farmers?
State Farm and Farmers are separate companies. Both offer auto insurance, but they have different owners and operators.
State Farm and Farmers are both well-known insurance companies with long histories. State Farm stands out with generous discounts and extensive coverage options. Farmers has robust roadside assistance and high customer satisfaction. Neither company offers gap insurance, which might be a dealbreaker for drivers with auto loans.
As you determine the best option between State Farm and Farmers, it’s essential to compare rates, customer service, discounts, and coverage options. Your driving record and ZIP code also matter when choosing between these two auto insurers.
Here’s how to decide whether State Farm or Farmers is a better fit for you.
State Farm vs. Farmers: The verdict
State Farm has more competitive rates and a strong financial strength rating, which indicates a solid outlook for paying out future claims.
Farmers, on the other hand, has more extensive coverage options, including customized equipment coverage and accident forgiveness. But the extra coverage options come at a cost since Farmers’ average rates are nearly double what you can find with State Farm.
Farmers’ car insurance discounts might offset some of the higher prices, but if you want cheaper car insurance rates, State Farm is probably a better fit.
State Farm
Farmers
State Farm Drive Safe & Save vs. Farmers Signal
State Farm and Farmers offer optional telematics programs that track driving habits through a mobile app, allowing drivers to earn discounts for driving safely. State Farm’s Drive Safe & Save provides a discount of up to 30%, and drivers must download the Drive Safe & Save app or enroll eligible vehicles in Connected Car. Driving patterns determine the discount amount, but you can also earn a discount for signing up. State Farm calculates rate deductions every six months.1
Farmers offer Signal, a similar discount program that rewards safe drivers. Drivers must download the Signal by Farmers app and allow it to track their driving. The discount amount varies depending on your driving habits, but young drivers between 15 and 24 years old can earn an extra discount.2
Keep in mind that both of these programs track all your driving habits — not just the positive ones. If you exceed the speed limit, brake suddenly, or take turns too sharply, your rates could increase.
State Farm vs. Farmers: Which is the cheapest?
State Farm’s average rates are significantly cheaper than Farmers’ average rates. However, your chosen insurance company is only one factor that influences your costs. Your location, credit, driving record, and age also affect how much you pay for car insurance.3
Here’s how State Farm’s and Farmers’ rates compare among different driver profiles.
State Farm: Cheapest for drivers with a clean driving record
State Farm offers cheaper average rates for drivers with a clean driving record — about half the average monthly cost from Farmers.
State Farm: Cheapest for drivers with a speeding ticket
Average insurance rates from State Farm are cheaper than average rates from Farmers for drivers with a speeding ticket.
State Farm: Cheapest for teen drivers
Teenage drivers pay cheaper average rates with State Farm — average rates with Farmers are nearly twice as much.
State Farm: Cheapest for drivers with bad credit
Your credit history can affect your car insurance costs, and State Farm has better average rates for drivers with bad credit.
State Farm: Cheapest for senior drivers
Senior drivers can find cheaper average rates with State Farm since average costs from Farmers are nearly twice as much.
Compare coverages: State Farm vs. Farmers
State Farm and Farmers coverage options are nearly the same. Both insurers offer standard coverages like liability insurance, personal injury protection, uninsured/underinsured motorist coverage, medical payments, collision, and comprehensive.
Drivers can also get roadside assistance, rental car reimbursement, and rideshare insurance. Similarly, neither insurer provides gap insurance, which some lenders require. Farmers provides optional customized equipment coverage, which might be a helpful addition for some drivers but doesn’t apply to most.
Here’s how the add-ons for coverage options compare.
Compare discounts: State Farm vs. Farmers
State Farm and Farmers have nearly identical discount options. Both insurers offer discounts for good drivers, multi-policies, and good students. At the same time, neither company provides discounts for new cars or low-mileage drivers. However, military members might secure a slightly lower rate with Farmers since the company offers a military discount, which State Farm doesn’t.
Here’s how discount options compare between both car insurance companies.
State Farm vs. Farmers FAQs
As you determine the best insurance company for your vehicle coverage, consider the answers to these common questions about State Farm and Farmers.
Who is State Farm’s biggest competitor?
State Farm is one of the most well-known insurance companies in the country, and its competitors include other large insurance companies, like Farmers, GEICO, Allstate, and USAA.
Does State Farm have a bad reputation?
State Farm has a solid reputation as a long-standing and well-known insurance company in the United States. The company has a strong financial rating and a big market share. Based on ratings from the National Association of Insurance Commissioners, complaints are lower than average.
What are the main differences between State Farm and Farmers insurance policies?
The primary difference between State Farm and Farmers insurance policies is the average price. State Farm offers cheaper rates that are usually half the price of Farmers, according to Insurify data. If you want the best deal on car insurance, State Farm is probably the better pick.
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