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They May Be Farmers, But Are They The Right Car Insurance Company For You?

In 1928, Jack Thompson and Tom Leavey had one of those entrepreneurial epiphanies that become part of US business lore.

A couple of guys who had farmed most of their lives, now Southern California transplants plying their wares in the budding insurance field, they asked a simple question?

25 y/o female driver price comparison with farmers and other carriers.

Note: For a 25 y/o male driver Farmers is the 3rd cheapest carrier by price. For younger drivers they are in middle ground compared to other carriers. Please see table below.

Why should farmers have to carry the same amount of coverage for farm trucks and tractors as commuters and families who drive cars more and under far different conditions?

Almost a century later, Farmers is now the country’s fifth largest car insurance provider, responsible for close to $10 billion in direct premium each year which allows them to snatch about 6 percent of the entire US market share for written premiums.

30 y/o female with 1 violation comparing farmers with other insurers.

Note: As illustrated, Farmers is ranked 3 out of 5 with all insurers. The comparison is pretty much the same for drivers 30 years and under.

Comparing Farmers to Other Insurers by Driver Profile

When comparing Farmers to the top companies they are middle-of-the- road for those with a basic policy.

For a more tailored policy they may offer substantially lower quotes for you.

For drivers 30 years of age and younger they seem to be a little more expensive than the average quote. For older drivers Farmers is highly competitive with all carriers.

Driver ProfileProgressiveFarmersAllstateEsuranceState Farm
25 y/o female$1,460$1,510$1,640$1,735$1,490
25 y/o male$1,879$1,900$2,020$2,145$1,820
30 y/o female$1,245$1,312$1,435$1,521$1,240
30 y/o male$1,323$1,398$1,515$1,585$1,340
25 y/o male (1 driving violation)$2,235$2,400$2,280$2,554$2,106
30 y/o female (1 driving violation)$1,400$1,549$1,600$1,812$1,375
40 y/o male$955$980$1,045$1,090$940
45 y/o female$720$746$790$824$723

Whether they would be a good first for you will depend on a number of factors, but you’d be short-sighting yourself if you didn’t at least give them a chance to offer you a competitive quote next time you review your auto policy.

Best price choices with farmers for 40 y/o driver.

Note: For a 40 year old driver Farmers becomes much more competitive. Particularly when you get a personalize quote or policy.

What they Offer & How it Could Benefit You

With a virtual army of agents to be found in every community, finding a local Farmers representative shouldn’t be too hard.

If you’re more comfortable in a virtual environment, they continue to upgrade their online offerings and you can compare policies and get quotes rather quickly that way.

Top insurer prices with farmers for 45 y/o female driver.

Note: Farmers is again 3rd behind Progressive and State Farm. For a generalize quote they are middle of the ground, but if you get a personalize quote you may see more competitiveness.

State by State Reviews with Quote Comparison & Average Rate Hike

Below is a table of the average customer satisfaction by state 5 being the highest. This includes claims handling. Included is the average premium price for each state and the comparable Farmer’s quote.

In all instances, for a driver with the same profile, Farmers was cheaper every time.

The customer satisfaction ratings are from JD Powers customer satisfaction survey.

Showing 5 state average price compared to farmers

Note: In all instance when compared to the state average premium Farmers was cheaper every time for a driver with the same profile.

The percentage rate hike is by state. It is important to note that each driver premium rate is raised annually.

At times your premium may go up by a percentage or two depending on circumstances which are not easily retrieve from data.

StatePercentage Rate Hike 2016State Average QuoteFarmers QuoteRideshare CoverageSatisfaction Out of 5
Arizona8%$1,400$1,278Y2
Arkansas
7%$1,725$1,550N3
California
8%$2,255$2,010Y3
Colorado
6%$1,788$1,700N3
Idaho 6%$1,326$1,310Y3
Illinois 6%$1,452$1,289Y4
Indiana6%$1,611$1,432Y4
Iowa 6%$1,322$1,245Y3
Kansas 5%$1,348$1,067Y3
Kentucky5%$1,465$1,096N4
Maryland6%$1,789$1,700Y4
Michigan
7%$2,367$2,200Y4
Minnesota6%$1,689$1,539Y4
Missouri8%$1,290$978Y3
Montana9%$1,450$1,422Y3
Nebraska
3%$1,280$1,245Y3
Nevada4%$1,587$1,512Y4
New Mexico5%$1,690$1,626Y4
North Dakota6%$1,590$1,287Y4
Ohio 5%$1,634$1,387Y4
Oklahoma
6%$1,400$1,102Y4
Oregon8%$1,890$1,658Y2
Pennsylvania8%$1,943$1,721N2
South Dakota6%$1,300$980N4
Texas 6%$1,990$1,649Y4
Utah
4%$1,354$1,311Y4
Virginia

8%$1,722$1,587N4
Washington
6%$1,760$1,438N4
Wisconsin
6%$1,654$1,543Y3
Wyoming6%$1,319$967N3

additional 5 state average price compared to farmers

States with Available Rideshare Coverage

Since the popularity of rideshare services such as Uber and Lyft I have included the states which currently have rideshare coverage options for drivers.

It is important to note that you will not be able to get an online quote for this type of coverage. You will have to speak directly to an agent to get tailored coverage.

Standard Coverage Options Offered

When you do start looking at your policy you may want to build with Farmers, you can choose from any of these standard coverage options:

  • Liability (both bodily injury and property damage)

  • Medical payments

  • Personal injury protection (PIP) coverage

  • Comprehensive coverage

  • Collision coverage

  • Uninsured/Underinsured motorist coverage

Additional Policy Options Offered

If these coverage options aren’t enough, you will find a few additional options with Farmers including:

  • Farmers’ new Car Pledge

  • HelpPoint® (roadside assistance and glass replacement services)

  • Accident forgiveness

  • Personal umbrella

  • Carr rental reimbursement

  • Extended customized equipment coverage

Whatever coverage options you have in place make sure you put coverage options and levels in place that will keep you in compliance with whatever your state’s minimum coverage requirements.

Excellent Discounts for Decent Savings

During the Great Depression, Farmers was one of the few companies in the country that maintained its commitment to paying claims in cash, not IOUs.

In much the same vein, today you can find a wide range of premium discount opportunities with Farmers, including:

  • Multi-policy (bundling) discounts

  • Business/professional groups discounts

  • Early shopping (if you get a quote 7 days prior to a policy start date and have no lapse in coverage from a previous insurer)

  • Good student discounts

  • Safe driver discounts

  • Multi-car discounts

  • Green driver discounts (for hybrids, electric cars and other approved vehicles)

List of Additional Discounts Offered to Boost Savings

Below is the list of discounts offered by Farmers which include the approximate percentage savings. There are two which can give you a large percentage savings which are good student and mature driver.

A mature driver is a person with a good driving history with minimal traffic violations or accidents.

RankDiscountPercentage
1Good Student 5 - 30%
2Mature Driver 4 - 20%
3Multi-Car Policy5- 15%
4Anti-Theft5- 15%
5Hybrid Car 0 - 10%
6New Vehicle2 - 7%
7E-Pay0 - 5%
8Early Shopping0 - 5%
9Occupation Affinity0 - 5%

Not all of these discounts are available in all states and there are some discounts available in some states you won’t find anyplace else.

It’s important that when you are getting quotes for Farmers coverage (especially online) you specify the state where you live, drive and will be seeking a policy.

An Excellent Focus on Teens

For families with teen drivers, you’ll find a growing range of supportive programs and services from Farmers.

Their innovative You’re Essential to Safety® (YES) program is a multi-media, multi-functional set of tools parents and teens can use to start a family’s newest drivers on the path to safe driving habits.

Online videos and printable support materials (like a driving log and a safe driving pledge) are free to use and modify.

Whether you’re looking for ways to help your teen driver set some safe driving habits, or if it’s time to renew and review your coverage plan, a serious case can be made to include Farmers in whatever cast of potential new or renewing insurers you consider.

Jeffery Davidson

Jeffery Davidson

Jeffrey Davidson is a writer with Reply!. He has more than 25 years of marketing research, public relations consulting and freelance writing experience and work in all areas of the auto industry.
1 Comment
  1. Pretty nice article about Farmers. I have been with them for over 20 years and have never had on issue with them, even have compared others and no one so far can beat their prices.

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