Farmers vs. Geico Auto Insurance (2023)
Choosing between Farmers vs. GEICO auto insurance is difficult, so start comparing auto insurance rates by age, driving record, and credit score to find the best policy for you. Overall, GEICO offers the cheapest rates, but Farmers insurance discounts can help qualify teen drivers and drivers with bad credit for lower rates.
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Kristen is a licensed insurance agent working in the greater Boston area. She has over 20 years of experience counseling individuals and businesses on which insurance policies best fit their needs and budgets. She knows everyone has their own unique needs and circumstances, and she is passionate about counseling others on which policy is right for them. Licensed in Massachusetts, New Hampshire,...
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UPDATED: Nov 27, 2023
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- Geico auto insurance is cheaper based on demographics, credit history, and driving record
- If you have a DUI, Farmers is cheaper
- Both companies offer many discounts to lower auto insurance rates
- Farmers and Geico both have good financial and customer satisfaction ratings, although Geico’s are slightly better
Both Farmers and Geico are on the list of the top 10 best auto insurance companies, but which is the best option based on your personal characteristics?
We’ll compare Farmers vs. Geico auto insurance based on age, driving record, and credit history to see which one better suits your needs.
We’ll also compare available discounts and ratings from agencies with a credible and trustworthy view of Farmers vs. Geico auto insurance companies. For information about the individual companies, check out our Farmers auto insurance review and our Geico auto insurance review.
Looking for affordable Farmers vs. Geico auto insurance quotes? Enter your ZIP code to start comparing quotes from multiple companies in your area.
Is Farmers auto insurance or Geico auto insurance cheaper?
You might be surprised to learn how auto insurance rates are determined. There are many factors that affect car insurance rates, including where you live, your age, driving record, and credit history.
These factors can determine how affordable Farmers vs. Geico auto insurance is for you.
Let’s compare Farmers vs. Geico auto insurance rates based on some of these criteria to see who can provide you with the best price.
Age is an important factor car insurance companies use. Auto insurance for teens and young drivers comes with the highest rates. This table displays the average annual auto insurance rates for both companies based on age, gender, and marital status.
|Age, Gender, and Marital Status||Farmers Average Annual Rates||Geico Average Annual Rates|
|Single 17-year-old female||$8,666.24||$5,431.46|
|Single 17-year-old male||$9,202.06||$6,815.00|
|Single 25-year-old female||$2,672.81||$2,431.91|
|Single 25-year old male||$2,791.21||$2,739.66|
|Married 35-year-old female||$2,316.82||$2,202.69|
|Married 35-year-old male||$2,306.44||$2,214.18|
|Married 60-year-old female||$2,117.42||$1,987.35|
|Married 60-year-old male||$2,179.61||$2,005.06|
You can see that Farmers is more expensive than Geico for every demographic.
Another important factor that auto insurance companies use to calculate your rates is your driving record. If you have accidents, tickets, or DUIs, you will spend a lot more on your insurance than if you have a clean driving record.
|Driving Record||Farmers Average Annual Rates||Geico Average Annual Rates|
|With 1 accident||$4,518.73||$3,192.77|
|With 1 DUI||$4,718.75||$4,875.87|
|With 1 speeding violation||$4,079.01||$2,645.43|
If you have a clean driving record, an accident, or a speeding ticket, Farmers is over $1,000 more expensive. If you need auto insurance after a DUI, however, your Geico quote will be higher.
Your credit score has an impact on your auto insurance rates as well. Insurance companies use credit scores because they think that if you have a good credit score, you’re less likely to file a claim and more likely to pay for damages yourself.
|Credit History||Farmers Average Annual Rates||Geico Average Annual Rates|
Geico is less expensive regardless of your credit score. In a few states, such as California and Michigan, auto insurance companies are not allowed to use your credit score to calculate your rates.
You may live in a state where basing auto insurance on credit score is illegal. Be sure to read up on your state auto insurance laws before judging Farmers vs. Geico auto insurance rates based on credit score alone.
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Farmers or Geico: Which has better auto insurance discounts?
Auto insurance discounts are a great way to save money on your rates. Most companies provide discounts based on a range of factors, including the number of vehicles you own, your occupation, and even the safety features of your vehicle.
|Auto Insurance Discounts||Farmers (%)||Geico (%)|
|Daytime Running Lights||x||1|
|Electronic Stability Control||x||N/A|
|Seat Belt Use||N/A||15|
|Students & Alumni||N/A||x|
The majority of the discounts are offered by both companies. However, there are some differences. For example, Farmers provides paperless discounts and Geico does not. Geico, on the other hand, provides discounts for continuing education and customer loyalty you won’t find with Farmers.
When comparing Farmers vs. Geico auto insurance quotes, make sure to ask about all available discounts.
How do Farmers and Geico compare in financial strength and customer satisfaction?
You may be wondering, “Is Geico insurance good?” “Is Farmers insurance good?” Let’s take a look at company ratings.
Companies are ranked by A.M. Best based on their financial stability.
Farmers Insurance earned an “A” grade, indicating that it has an excellent ability to meet its financial obligations. Geico earned an “A++” grade, which represents a superior ability to meet obligations.
Farmers and Geico both have “A+” scores from the Better Business Bureau, and both companies are accredited.
J.D. Power rated both businesses for customer satisfaction based on factors such as what is offered, billing, price, and the claims process. Farmers received an average rating, while Geico received a slightly higher rating.
Each company has an easy-to-use website and mobile app where customers can access their accounts, make payments, and even file Farmers insurance claims or Geico claims easily. Usually, in both the general app and the driving app, your Farmers insurance login or Geico login would be the same.
Both companies also offer additional insurance products. For example, you can get Farmers or Geico home insurance, as well as business and life insurance.
Before you choose between Farmers vs. Geico auto insurance, do your research. Googling “auto insurance near me” will get you started, but you can always use our FREE comparison tool to compare auto insurance quotes in your area.
Frequently Asked Questions
What are Farmers and GEICO?
Farmers and GEICO are both prominent insurance companies that offer auto insurance coverage. They provide a range of policies and services to protect drivers and their vehicles.
How do I decide between Farmers and GEICO for my auto insurance?
Choosing between Farmers and GEICO will depend on your specific needs and preferences. It’s recommended to consider factors such as coverage options, pricing, customer service, and discounts to make an informed decision.
What types of coverage options do Farmers and GEICO offer?
Both Farmers and GEICO offer similar types of coverage, including liability coverage, comprehensive coverage, collision coverage, uninsured/underinsured motorist coverage, and personal injury protection (PIP) or medical payments coverage.
Are there any notable differences in coverage options between Farmers and GEICO?
While the basic coverage options are similar, there may be differences in the specific details and additional coverage options offered by Farmers and GEICO. It’s important to review each company’s policy documents to understand the exact terms and conditions.
How can I compare pricing between Farmers and GEICO?
To compare pricing, you can request quotes from both Farmers and GEICO. Provide accurate information about your vehicle, driving history, and desired coverage limits to get an accurate estimate. Remember to review the coverage details along with the pricing.
What discounts are available with Farmers and GEICO auto insurance?
Farmers and GEICO offer various discounts to help policyholders save on their auto insurance premiums. These discounts may include safe driver discounts, multi-policy discounts, good student discounts, and discounts for certain safety features installed in your vehicle.
Which company has better customer service, Farmers or GEICO?
Customer service experiences can vary based on individual preferences and circumstances. It’s a good idea to research customer reviews and ratings for both Farmers and GEICO to get an idea of their respective customer service reputations.
Can I bundle other insurance policies with Farmers or GEICO?
Both Farmers and GEICO offer multi-policy discounts when you bundle multiple insurance policies together. This can include auto insurance, homeowners or renters insurance, and other coverage types. It’s recommended to inquire about bundling options when obtaining quotes.
How do I file a claim with Farmers or GEICO?
To file a claim with either Farmers or GEICO, you can typically do so online, through their mobile apps, or by contacting their claims department directly. They will guide you through the claims process and provide necessary assistance.
Can I switch my auto insurance from Farmers to GEICO or vice versa?
Yes, you can switch your auto insurance from Farmers to GEICO or vice versa. However, it’s important to consider any potential cancellation fees or terms in your current policy and ensure a smooth transition to your new provider.