Farmers vs. GEICO: Best Car Insurance for 2021
When it comes to Farmers vs. GEICO car insurance, GEICO is usually cheaper and has slightly better financial and customer satisfaction ratings. However, Farmers insurance is cheaper if you have a DUI. Farmers and GEICO both offer a long list of discounts, and the discounts you qualify for will make a big difference to your rates.
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UPDATED: Mar 4, 2021
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- GEICO car insurance is cheaper based on demographics, credit history, and driving record, except if you have a DUI
- Both companies offer many discounts to help lower car insurance rates
- Farmers and GEICO both have good financial and customer satisfaction ratings, although GEICO’s ratings are slightly higher
When it comes to car insurance companies, you have a lot of options, and comparing them head to head can help narrow down your choices. We will look at Farmers vs. GEICO car insurance companies to see which one meets your needs the best.
Compare rates, discounts, financial ratings, and customer satisfaction to determine if either is right for you.
You don’t have to just compare Farmers vs. GEICO to find the best company. Enter your ZIP code to receive free quotes from multiple companies near you.
Farmers or GEICO car insurance: Which is cheaper?
You might be surprised to learn exactly what factors determine car insurance rates. Car insurance companies look at everything from where you live to your age, driving record, and credit history to determine your rates.
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|
|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|
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.
|Daytime Running Lights||x||1%|
|Electronic Stability Control||x||N/A|
|Seat Belt Use||N/A||15%|
|Students & Alumni||N/A||x|
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.
Deciding to buy Farmers vs. GEICO car insurance can be a difficult decision. Weigh Farmers vs. GEICO pros and cons to determine if either company is right for you.
Now that you’ve compared Farmers vs. GEICO car insurance, enter your ZIP code to compare quotes from multiple top companies near you.