Farmers vs. Travelers: Which Car Insurance Is Cheaper?
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UPDATED: Jun 3, 2021
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- You can save 25% on car insurance for your teen driver by choosing Farmers over Travelers
- If you have a DUI on your driving record, Farmers is a better choice than Travelers
- Farmers has a broader variety of discounts, but Travelers has some deals as high as 30% off
Our Farmers vs. Travelers car insurance guide examines rates by different characteristics, including age, gender, marital status, driving record, and credit score.
We also compare discounts and ratings from credible agencies that rate Farmers vs. Travelers car insurance companies. Which company will provide you with the best and cheapest car insurance?
Keep reading to compare affordable Farmers vs. Travelers car insurance quotes, or enter your ZIP code to compare multiple companies in your area.
Is Farmers car insurance or Travelers car insurance cheaper based on age?
The older we get, the more driving experience we have. Car insurance companies use age as one of the most influential factors in determining your car insurance rates.
It’s also legal in most states to base car insurance rates on marital status and gender. Let’s compare Farmers and Travelers auto insurance rates based on age, gender, and marital status.
|Age, Gender, and Marital Status||Farmers Average Annual Rates||Travelers Average Annual Rates|
|Single 17-year-old female||$8,522||$9,307|
|Single 17-year-old male||$9,144||$12,851|
|Single 25-year-old female||$2,947||$2,325|
|Single 25-year-old male||$3,041||$2,491|
|Married 35-year-old female||$2,557||$2,179|
|Married 35-year-old male||$2,558||$2,200|
|Married 60-year-old female||$2,337||$2,052|
|Married 60-year-old male||$2,448||$2,074|
Farmers is a much better option if you have a young driver in your household. You will pay 25% more with Travelers covering your teen.
When it comes to car insurance for those 25 and older, Travelers is around 16% cheaper than Farmers.
Is Farmers car insurance or Travelers car insurance cheaper based on driving record?
Speeding tickets, accidents, or DUIs on your driving record will raise your car insurance rates no matter what company you pick because you will be viewed as a high-risk driver.
|Infraction||Farmers Average Annual Rates||Travelers Average Annual Rates|
|With one speeding violation||$4,079||$4,261|
|With one accident||$4,519||$4,290|
|With one DUI||$4,719||$5,741|
There isn’t a massive difference in auto insurance rates between Farmers and Travelers for those with a clean driving record, one speeding ticket, or one accident. However, if you have a DUI, Farmers is a much better choice than Travelers.
It’s also essential to take a close look at how punitive each company is if you sign up with a clean driving record but then later get an infraction.
Farmers is not as punitive with current customers as Travelers. If you have a clean record now and choose Farmers, your rates will increase by only 36% if you get a DUI. With Travelers, your rates will increase by 67%.
Is Farmers car insurance or Travelers car insurance cheaper based on credit score?
In most states, it is legal for car insurance companies to base rates on your credit score; however, some have banned this practice along with basing rates on gender and marital status.
Car insurance companies justify using your credit score to determine your rates based on the assumption that those with higher credit scores are more responsible and less likely to file a claim.
Let’s look at how Farmers and Travelers set rates for drivers with low credit scores.
|Credit Score||Farmers Average Annual Rates||Travelers Average Annual Rates|
|Good Credit (670-739)||$3,677||$4,059|
|Fair Credit Score (580-669)||$3,899||$4,344|
|Poor Credit Score (300-579)||$4,864||$5,160|
No matter your credit score, your rates will be cheaper with Farmers than with Travelers.
If you have a policy with Farmers and your credit score drops, expect your car insurance rates to increase by 32%. Travelers will raise your rates by only 27%.
You may live in a state like California where basing car insurance on credit scores is illegal. Be sure to check out our car insurance by state guide before judging Farmers vs. Travelers car insurance rates based on credit score alone.
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Does Farmers or Travelers have better car insurance discounts?
Car insurance discounts vary widely depending on the company. That’s why it pays to shop around, especially if you have a bad driving record or low credit score. Discounts can help offset high rates.
|Discounts||Farmers Discounts Percentage||Travelers Discounts Percentage|
|Daytime Running Lights||yes||n/a|
|On Time Payments||n/a||15|
When comparing discounts offered by these two companies, Farmers has a total of 32 car insurance discounts, but our data source doesn’t include the percentage of each discount. Travelers has a total of 17 discounts.
Travelers offers a claim-free discount of 23%. Other great discounts ranging from 15% to 30% are offered for making on-time payments, having continuous coverage, being a safe driver, and using the Travelers driving app.
The discounts offered by car insurance companies often target specific types of drivers. Call the Farmers or Travelers insurance phone number to ask if there are any additional discounts available.
What types of car insurance coverages are offered by Farmers and Travelers?
No matter which provider you choose, be sure you understand the various car insurance coverage types before purchasing each one:
- Liability car insurance coverage (bodily injury and property damage)
- Comprehensive car insurance coverage
- Collision car insurance coverage
- Uninsured/underinsured car insurance coverage
- Medical payments (MedPay) car insurance coverage (significant in states that require no-fault car insurance)
- Personal injury protection (PIP) car insurance coverage
Take a close look at any specialty coverages you might need, such as rental reimbursement, roadside assistance, guaranteed auto protection (GAP), mechanical breakdown, and insurance for recreational vehicles such as ATVs or boats.
Since Farmers and Travelers are two of the top 10 companies that make up most of the car insurance market share, they have the means to offer a wider variety of car insurance coverages beyond the standard six listed above.
Does Farmers or Travelers have better car insurance mobile apps?
Usage-based car insurance has become an industry trend in the last decade. Most prominent car insurance companies have an app that uses your mobile phone or a device installed in your car to evaluate your driving.
Large car insurance companies also provide a more general app to enable you to view your policy, make changes, and pay your bill.
Usually, your Farmers insurance login or Travelers insurance login will work with the general app and the driving app.
How do Farmers and Travelers car insurance compare in financial strength and customer satisfaction?
Buying car insurance is a big financial responsibility, so you want to make sure you choose the right company that will be there for you when you need it.
A company’s financial strength, customer satisfaction with the claims process, and customer complaints should be examined before you make your decision.
The following three agencies provide insight into these factors:
A.M. Best scores companies based on their ability to meet their ongoing insurance obligations, such as balancing premiums collected and claims paid. The highest score A.M. Best awards is Superior A++.
Consumer Reports collects annual data from its subscribers regarding customer satisfaction of the Farmers insurance claims process and the Travelers claims process, step by step.
In its 2017 survey, 27 insurance companies were rated, and scores ranged from 86 to 96.
The National Association of Insurance Commissioners (NAIC) calculates a complaint ratio based on the total number of customers vs. the total number of complaints.
In 2017, the national average complaint ratio was one. The lower the ratio, the better.
Let’s take a look at external ratings for Farmers and Travelers.
|AM Best Rating||A||N/A|
|NAIC Company Complaint Ratio||0.59||0.09|
|NAIC Total Complaints||7||2|
Both Farmers and Travelers are highly rated for customer satisfaction with the claims process. Farmers Insurance earned an A from A.M. Best, something to keep in mind when deciding to buy Farmers vs. Travelers car insurance.
Travelers Insurance has a slightly lower customer complaint ratio, but both companies receive few complaints.
Before you choose between Farmers vs. Travelers car insurance, enter your ZIP code to start comparing multiple car insurance companies in your area.
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