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Farmers vs. GEICO: Which Car Insurance Is Cheaper?

Enter your zip code below to view companies that have cheap auto insurance rates.

Jeffrey Johnson graduated summa cum laude from the University of Baltimore School of Law and has worked in legal offices and nonprofits in Maryland, Texas, and North Carolina. He has also earned an MFA in screenwriting from Chapman University and worked in film, education, and publishing. His professional writing has appeared on sites like The Manifest and Vice, and he is the author of a novel ...

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UPDATED: Jun 2, 2021

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Key Takeaways

  • GEICO car 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 car insurance rates
  • Farmers and GEICO both have good financial and customer satisfaction ratings, although GEICO’s are slightly better

You have a lot of options when it comes to auto insurance, and comparing the pros and cons of each company you’re considering will help you narrow down your options.

Which company will provide the best and cheapest car insurance for you?

We’ll compare Farmers vs. GEICO car insurance companies to see which one better suits your needs based on rates, discounts, financial ratings, and customer satisfaction.

Before jumping into our Farmers vs. GEICO car insurance review enter your ZIP code to compare multiple companies in your area.

Is Farmers car insurance or GEICO 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 and your age, driving record, and credit history.

These factors can make the difference in determining how affordable Farmers vs. GEICO car insurance is for you.

Let’s compare Farmers vs. GEICO car insurance rates based on some of these criteria to see who can provide you with the best price.

This table displays the average annual car insurance rates for both companies based on age, gender, and marital status.

Farmers vs. GEICO Average Annual Rates Based on Age, Gender, and Marital Status
Age, Gender, and Marital StatusFarmers Average Annual RatesGEICO 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
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You can see that Farmers is more expensive than GEICO for every demographic.

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.

Farmers vs. GEICO Average Annual Rates Based on Driving Record
Driving RecordFarmers Average Annual RatesGEICO 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
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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, GEICO will charge you more.

Your credit score has an impact on your car 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.

Farmers vs. GEICO Average Annual Rates Based on Credit History
Credit HistoryFarmers Average Annual RatesGEICO Average Annual Rates
Good$3,677.12$2,434.82
Fair$3,899.41$2,986.79
Poor$4,864.14$4,259.50
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GEICO is less expensive regardless of your credit score. In a few states, such as California and Michigan, car insurance companies are not allowed to use your credit score to calculate your rates.

You may live in a state where basing car insurance on credit score is illegal. Be sure to check out our car insurance by state page before judging Farmers vs. GEICO car insurance rates based on credit score alone.

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Farmers or GEICO: Which has better car insurance discounts?

Car 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.

Farmers vs. GEICO Car Insurance Discounts
Auto Insurance DiscountsFarmers (%)GEICO (%)
Adaptive HeadlightsxN/A
Anti-lock Brakesx5
Anti-Theftx25
Claim Freex26
Continuous Coveragexx
Daytime Running Lightsx1
Defensive Driverxx
Distant Studentxx
Driver's Edxx
Driving Device/AppN/Ax
Early Signingxx
Electronic Stability ControlxN/A
Emergency DeploymentN/A25
Family LegacyN/Ax
Family PlanxN/A
Farm Vehiclexx
Federal Employeex8
Full Paymentxx
Further EducationN/Ax
Garaging/StoringxN/A
Good Studentx15
Green Vehicle5N/A
Homeownerxx
Low Mileagexx
LoyaltyN/Ax
Membership/GroupN/Ax
Militaryx15
Multiple Policiesx10
Multiple Vehiclesx25
Newer Vehiclexx
Occupationxx
Paperless DocumentsxN/A
Paperless/Auto BillingxN/A
Passive Restraintx40
Safe Driverx15
Seat Belt UseN/A15
Senior DriverxN/A
Students & AlumniN/Ax
Switching ProviderxN/A
Utility Vehiclexx
Vehicle Recoveryx15
VIN EtchingxN/A
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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.

When searching for affordable Farmers vs. GEICO car insurance quotes, make sure to ask about 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 claims easily.

Both companies also offer additional insurance products. For example, you can get Farmers or GEICO home insurance, as well as business and life insurance.

Deciding whether to buy Farmers vs. GEICO car insurance can be difficult. Weigh the GEICO vs. Farmers pros and cons we’ve discussed 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 multiple car insurance companies in your area.

Free Auto Insurance Comparison

Enter your zip code below to view companies that have cheap auto insurance rates.

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