Farmers vs. Geico: Best Car Insurance for 2023
In the comparison between Farmers and Geico car insurance, this analysis delves into crucial factors such as pricing, discounts, and customer satisfaction, aiming to guide you in making informed decisions about your car insurance coverage.
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Chris Harrigan
Former Auto Insurance Claims Manager
Chris Harrigan has an economic degree from Limestone College and an MBA from Clemson University. He previously managed auto insurance claims for Enterprise Rent-A-Car. Currently, he is using his business and insurance expertise to provide insurance data analysis and visualizations to enhance the user experience.
Former Auto Insurance Claims Manager
UPDATED: Nov 29, 2023
It’s all about you. We want to help you make the right car insurance coverage choices.
Advertiser Disclosure: We strive to help you make confident car insurance decisions. Comparison shopping should be easy. We are not affiliated with any one car insurance company and cannot guarantee quotes from any single company.
Our car insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different car insurance companies please enter your ZIP code on this page to use the free quote tool. The more quotes you compare, the more chances to save.
Editorial Guidelines: We are a free online resource for anyone interested in learning more about auto insurance. Our goal is to be an objective, third-party resource for everything auto insurance related. We update our site regularly, and all content is reviewed by auto insurance experts.
UPDATED: Nov 29, 2023
It’s all about you. We want to help you make the right car insurance coverage choices.
Advertiser Disclosure: We strive to help you make confident car insurance decisions. Comparison shopping should be easy. We are not affiliated with any one car insurance company and cannot guarantee quotes from any single company.
Our car insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different car insurance companies please enter your ZIP code on this page to use the free quote tool. The more quotes you compare, the more chances to save.
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Navigating the complex landscape of car insurance rates involves a meticulous consideration of various factors. Our analysis, based on key metrics such as credit score, mileage, coverage level, and driving record, reveals a nuanced comparison between Farmers and Geico. For those with pristine driving records, Geico emerges as the more economical choice, offering consistently favorable rates across credit scores. However, if you have a DUI on your record, Farmers becomes a cost-effective alternative. Whether you prioritize a clean driving history or seek savings through specific discounts, our subheadings succinctly outline the best choice for your unique profile.
| Factor | Farmers | Geico |
|---|---|---|
| Clean Record | $139 | $80 |
| 1+ Ticket | $173 | $106 |
| 1+ Accident | $198 | $132 |
| DUI | $193 | $216 |
| Poor Credit | $239 | $138 |
*monthly rates are based on an average of minimum and full coverage for a 45-year-old male driver
| Discount | Farmers | Geico |
|---|---|---|
| Anti Theft | 15% | 15% |
| Good Student | 10% | 12% |
| Low Mileage | 10% | 23% |
| Paperless | 10% | 8% |
| Safe Driver | 5% | 10% |
| Senior Driver | 15% | 22% |
Farmers Car Insurance
Pros:
- Competitive Discounts: Farmers offers enticing discounts for various factors, including paperless transactions, safety features, and senior drivers.
- Financial Stability: Rated A by A.M. Best, Farmers demonstrates a commendable ability to meet financial obligations.
- Broad Coverage Options: With a range of coverage options, Farmers caters to diverse insurance needs.
Cons:
- Higher Rates for DUI: Farmers tends to be more expensive for individuals with a DUI on their record.
- Limited Customer Service Hours: Unlike Geico, Farmers has specific customer service hours, potentially limiting accessibility.
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Geico Car Insurance
Pros:
- Competitive Rates for Clean Records: Geico consistently offers favorable rates, especially for drivers with a clean record.
- Superior Financial Rating: Geico boasts an A++ rating from A.M. Best, signifying exceptional financial stability.
- 24/7 Customer Service: Geico provides round-the-clock customer service, ensuring accessibility at any time.
Cons:
- Higher Rates with DUI: Geico tends to be pricier for individuals with a DUI.
- Fewer Discounts: While Geico offers discounts, Farmers provides a more extensive list, including unique options like emergency deployment and further education.
Geico Takes the Lead in Affordability and Ratings
In the comparison between Farmers and Geico car insurance for 2023, Geico emerges as the stronger contender, excelling in both affordability and overall performance. While Farmers may have their merits in certain specific scenarios, a comprehensive evaluation tips the scales in favor of Geico.
Competitive Rates: When it comes to pricing, Geico consistently outperforms Farmers. The average annual car insurance rates provided in the comparison show that Geico offers more competitive rates across various demographics, driving records, and credit scores. Whether you have a clean record, an accident, or a speeding ticket, Geico stands as the more economical choice.
Discounts: Both Farmers and Geico offer a plethora of discounts that can significantly impact your rates. Geico, however, edges ahead by providing discounts like emergency deployment, further education, and customer loyalty. While Farmers offers unique discounts for going paperless, senior drivers, and specific safety features, Geico’s broader range gives it a slight advantage in this category.
Financial Strength and Customer Satisfaction: Considering financial stability and customer satisfaction, Geico maintains the upper hand. With an A++ rating from A.M. Best, denoting a superior ability to meet financial obligations, Geico surpasses Farmers, which holds an A rating. Additionally, Geico’s slightly higher ranking in customer satisfaction from J.D. Power further solidifies its position as the preferred choice.
Service Accessibility: While both companies offer user-friendly websites for online interactions, Geico stands out with 24/7 customer service availability. In contrast, Farmers has set hours for customer support, potentially limiting accessibility.
In the Farmers vs. Geico car insurance matchup, Geico emerges as the clear winner. Its consistent affordability, broader discount options, superior financial strength, and round-the-clock customer service make it the most compelling choice for car insurance. When considering all factors, Geico stands out as the best overall option, providing not only cost-effective coverage but also a robust support system for its policyholders.
Farmers or Geico car insurance: Which is cheaper?
You might be surprised to learn exactly what factors determine car insurance rates. A car insurance provider will look at everything from where you live to your age, driving record, and credit history to determine your rates and what insurance options you’ll have.
These factors can make the difference in determining how affordable Farmers vs. Geico car insurance is for you.
Let’s take a look at Farmers vs. Geico car insurance rates using some of those factors to see who can offer you the best deal.
This table shows you the average annual car insurance rates for both companies based on your demographics.
| Age, Gender, and Marital Status | Farmers Average Annual Rates | Geico Average Annual Rates |
|---|---|---|
| Single 17-year-old female | $8,521.97 | $5,653.55 |
| Single 17-year-old male | $9,144.04 | $6,278.96 |
| Single 25-year-old female | $2,946.80 | $2,378.89 |
| Single 25-year-old male | $3,041.44 | $2,262.87 |
| Married 35-year-old female | $2,556.98 | $2,302.89 |
| Married 35-year-old male | $2,557.75 | $2,312.38 |
| Married 60-year-old female | $2,336.80 | $2,240.60 |
| Married 60-year-old male | $2,448.39 | $2,283.45 |
You can see that Farmers is more expensive, no matter your age.
Another important factor that car 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 |
|---|---|---|
| Clean record | $3,460.60 | $2,145.96 |
| 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 |
Farmers is over a thousand dollars more expensive whether you have a clean record, an accident, or a speeding ticket. However, Geico is more expensive if you have a DUI.
You might be surprised to learn your credit score affects your car insurance rates. Insurance companies believe that if you have a higher credit score, you’re less likely to file a claim and more willing to pay out of pocket for damages.
| Credit History | Farmers Average Annual Rates | Geico Average Annual Rates |
|---|---|---|
| Good | $3,677.12 | $2,434.82 |
| Fair | $3,899.41 | $2,986.79 |
| Poor | $4,864.14 | $4,259.50 |
Geico is cheaper no matter your credit score. There are a few states, like California and Michigan, that don’t allow car insurance companies to look at your credit score to determine your rates.
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Which has better car insurance discounts, Farmers or Geico?
Car insurance discounts are a great way to lower your rates. Most companies offer you discounts based on a variety of things, including how many cars you have, your occupation, and even your car’s safety features.
This table shows you the discounts that are offered by Farmers insurance and Geico insurance. If the amount of the discount is known, it is included. See which company can offer you the most discounts.
| Discounts | Farmers | Geico |
|---|---|---|
| Adaptive Headlights | x | N/A |
| Anti-lock Brakes | x | 5% |
| Anti-Theft | x | 25% |
| Claim Free | x | 26% |
| Continuous Coverage | x | x |
| Daytime Running Lights | x | 1% |
| Defensive Driver | x | x |
| Distant Student | x | x |
| Driver's Ed | x | x |
| Driving Device/App | N/A | x |
| Early Signing | x | x |
| Electronic Stability Control | x | N/A |
| Emergency Deployment | N/A | 25% |
| Family Legacy | N/A | x |
| Family Plan | x | N/A |
| Farm Vehicle | x | x |
| Federal Employee | x | 8% |
| Full Payment | x | x |
| Further Education | N/A | x |
| Garaging/Storing | x | N/A |
| Good Student | x | 15% |
| Green Vehicle | 5% | N/A |
| Homeowner | x | x |
| Low Mileage | x | x |
| Loyalty | N/A | x |
| Membership/Group | N/A | x |
| Military | x | 15% |
| Multiple Policies | x | 10% |
| Multiple Vehicles | x | 25% |
| Newer Vehicle | x | x |
| Occupation | x | x |
| Paperless Documents | x | N/A |
| Paperless/Auto Billing | x | N/A |
| Passive Restraint | x | 40% |
| Safe Driver | x | 15% |
| Seat Belt Use | N/A | 15% |
| Senior Driver | x | N/A |
| Students & Alumni | N/A | x |
| Switching Provider | x | N/A |
| Utility Vehicle | x | x |
| Vehicle Recovery | x | 25% |
| VIN Etching | x | N/A |
Both companies offer most of the same discounts. However, Farmers offers discounts for going paperless, senior drivers, and some safety features that Geico doesn’t.
On the other hand, Geico offers discounts like emergency deployment, further education, and customer loyalty.
Be sure to ask about discounts you may qualify for as you compare Farmers vs. Geico car insurance quotes.
How do Farmers and Geico compare in financial strength and customer satisfaction?
A.M. Best ranks companies based on how financially stable they are. Farmers received an A rating, meaning it has an excellent ability to meet its financial obligations. Geico received an A++ rating, showing it has a superior ability to meet its obligations.
Both Farmers and Geico are accredited with the Better Business Bureau and both received A+ ratings.
Both companies were also ranked by J.D. Power for customer satisfaction on factors like what is offered, billing, price, and claims. Farmers ranked about average and Geico ranked slightly higher.
Both companies also offer easy-to-use websites, and your Farmers or Geico login will allow you to pay your bill and access your insurance information easily online. You can also get a Farmers or Geico quote on their respective websites.
However, Geico customer service is available 24/7, while Farmers has set hours to reach someone.
Which of these two insurance carriers should you go with?
It would be hard to simply say choose either Geico auto insurance or Farmers, because there are so many factors to look into. Many people shop around simply to find the most affordable car insurance, but others prefer to look at the insurance policies themselves to see what’s covered.
So it’s no secret that deciding between Farmers vs. Geico car insurance will be a difficult decision. Weigh Farmers vs. Geico pros and cons to determine if either company is right for you so that you’re getting the best coverage options.
Now that you’ve compared Farmers vs. Geico car insurance, enter your ZIP code to compare quotes from multiple top companies near you.
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Chris Harrigan
Former Auto Insurance Claims Manager
Chris Harrigan has an economic degree from Limestone College and an MBA from Clemson University. He previously managed auto insurance claims for Enterprise Rent-A-Car. Currently, he is using his business and insurance expertise to provide insurance data analysis and visualizations to enhance the user experience.
Former Auto Insurance Claims Manager
Editorial Guidelines: We are a free online resource for anyone interested in learning more about auto insurance. Our goal is to be an objective, third-party resource for everything auto insurance related. We update our site regularly, and all content is reviewed by auto insurance experts.