Farmers vs. GEICO Auto Insurance (2021)
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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UPDATED: Jun 8, 2021
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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.
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. Car insurance companies base their rates on a variety of factors, 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.
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 have a DUI, however, your GEICO quote will be higher.
Your credit score has an impact on your auto insurance rates as well. Insurance companies 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 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.
This table shows you the discounts that are offered by Farmers and GEICO. If the amount of the discount is known, it is included. See which company can offer you the most discounts.
|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.