Farmers vs. Travelers: Best Car Insurance for 2021
When comparing Farmers vs. Travelers car insurance, Travelers is generally the cheapest. Farmers and Travelers both have great financial ratings and similar customer satisfaction ratings. Both companies have an A+ rating from the BBB and offer additional coverages such as Travelers and Farmers condo insurance. Keep in mind the many discounts offered when you compare Farmers vs. Travelers auto insurance.
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UPDATED: Apr 16, 2021
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- In general, Farmers has more expensive car insurance rates than Travelers
- Travelers car insurance is more expensive if you have a speeding ticket or DUI
- Both companies rate about average in customer satisfaction, but have great financial ratings
You have a lot of options when it comes to car insurance companies, and comparing them side by side will help you narrow down your options. We will look at Farmers vs. Travelers car insurance companies to see which one meets your needs the best.
To see if either is right for you, compare rates, discounts, financial ratings, and customer satisfaction.
You don’t have to just compare Farmers vs. Travelers to find the best company. Enter your ZIP code to receive free quotes from multiple companies near you.
Is Farmers car insurance or Travelers car insurance cheaper?
You might be surprised to learn how car 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 make the difference in determining how affordable Farmers vs. Travelers car insurance is for you.
Let’s take a look at Farmers vs. Travelers car insurance rates using some of those factors to see who can offer you the best deal.
Based on your age, gender, and marital status, this table shows the average annual car insurance rates for both companies.
|Age, Gender, and Marital Status||Farmers Average Annual Rates||Travelers Average Annual Rates|
|Single 17-year-old female||$8,666.24||$7,586.79|
|Single 17-year-old male||$9,202.06||$11,904.09|
|Single 25-year-old female||$2,672.81||$2,059.71|
|Single 25-year old male||$2,791.21||$2,165.03|
|Married 35-year-old female||$2,316.82||$1,899.93|
|Married 35-year-old male||$2,306.44||$1,914.91|
|Married 60-year-old female||$2,117.42||$1,806.15|
|Married 60-year-old male||$2,179.61||$1,882.23|
Travelers’ car insurance rates are cheaper for all demographics except for 17-year-old males.
Your driving record is another important factor that car insurance companies consider when calculating your rates. You can pay much more for insurance if you have had any accidents, tickets, or DUIs than if you have a clean driving record.
|Driving Record||Farmers Average Annual Rates||Travelers Average Annual Rates|
|With 1 accident||$4,518.73||$4,289.74|
|With 1 DUI||$4,718.75||$5,741.40|
|With 1 speeding violation||$4,079.01||$4,260.80|
Travelers is cheaper if you have a clean driving record or one accident. Farmers is cheaper if you have a speeding ticket or DUI.
Your credit score has an impact on your car insurance rates, which may surprise you. Insurance companies believe if you have a better credit score, you will be less likely to file a claim and more willing to pay for damages yourself.
|Credit History||Farmers Average Annual Rates||Travelers Average Annual Rates|
Based on credit history alone, Farmers is the cheaper option.
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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Does Farmers or Travelers have better car insurance discounts?
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.
Farmers and Travelers insurance companies also offer discounts, as shown in this table. If the discount amount is known, it is added. See which company can offer you the most discounts.
|Car Insurance Discounts||Farmers (%)||Travelers (%)|
|Daytime Running Lights||x||x|
|Electronic Stability Control||x||N/A|
Both companies offer most of the same discounts. However, Farmers offers a military discount and Travelers does not.
On the other hand, Travelers offers a discount for on-time payments and Farmers doesn’t
Be sure to ask for any discounts as you compare Farmers vs. Travelers car insurance quotes.
How does Farmers and Travelers 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 they have an excellent ability to meet their obligations. Travelers received an A+ rating showing they have a superior ability to meet their obligations.
Both Farmers and Travelers received A+ ratings from the Better Business Bureau, although Farmers is accredited and Travelers is not.
Both companies were also ranked by J.D. Power for customer satisfaction on factors like what is offered, billing, price, and claims. Farmers and Travelers both ranked about average.
Both companies also offer easy-to-use websites and mobile apps that allow you to pay your bill and access your insurance information. You can also get a Farmers or Travelers quote on their respective websites.
You can reach customer service for both companies to access your information or file claims as well. The Travelers insurance customer service phone number is 1-800-842-5075, and you can reach Farmers customer service at 1-888-327-6335.
You can also purchase additional coverage like Travelers and Farmers condo insurance or roadside assistance. Farmers RV insurance is also available, although Travelers doesn’t offer the coverage.
Deciding to buy Farmers vs. Travelers car insurance can be a difficult decision. Weigh pros and cons for both Farmers and Travelers to determine if either company is right for you.
Now that you’ve compared Farmers vs. Travelers car insurance, enter your ZIP code to compare quotes from multiple companies near you.