Farmers vs. GEICO: Which Is the Best? (2024)

GEICO stands out for its low monthly rates and high customer satisfaction score, but Farmers offers slightly more discounts.

Jamie Johnson
Written byJamie Johnson
Jamie Johnson
Jamie Johnson
  • 6 years experience in personal finance writing

  • Featured on Credit Karma and Insider

Jamie is a meticulous researcher who has published 2,000+ personal finance articles. Her expertise is trusted by major brands like Bankrate and Rocket Mortgage.

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Courtney Mikulski
Courtney MikulskiSenior Editor, Auto
  • 3+ years producing insurance and personal finance content

  • Main architect of the Insurify Quality Score

Courtney’s deep personal finance knowledge extends beyond insurance to credit cards, consumer lending, and banking. She thrives on creating actionable content.

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Konstantin Halachev
Data reviewed byKonstantin Halachev
Headshot of Konstantin Halachev, VP of Engineering at Insurify
Konstantin HalachevVice President of Engineering
  • 7+ years experience in data analysis

  • Ph.D. in Computational Biology

Konstantin has led data teams across multiple industries, including insurance, travel, and biology. He’s led Insurify’s engineering team for more than three years.

Updated April 15, 2024

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Farmers and GEICO are both large car insurance companies that hold significant shares of the auto insurance market.[1] GEICO has cheap average monthly auto insurance rates but a limited network of local insurance agents, while Farmers offers highly customizable coverage but more expensive average rates.

GEICO and Farmers are similar in many ways, but comparing their rates, customer service experience, discounts, and coverage will help you determine which one is the best insurance company for you.

Quick Facts
  • The average cost of liability insurance from GEICO is $54 per month, and from Farmers, it’s $110 per month.

  • GEICO and Farmers both offer telematics programs, plenty of discounts, and unique coverage options.

  • GEICO is the best for cheap rates, and Farmers is best for customizable coverage.

Farmers vs. GEICO: The verdict

GEICO stands out for its above-average J.D. Power score in many regions and solid financial strength rating.[2] It offers lower average rates on auto insurance than Farmers and many auto insurance discounts for drivers to take advantage of.

While Farmers has more expensive average car insurance rates, it offers more discounts and more customizable car insurance policy options than GEICO.

GEICO is available to drivers in all 50 states, while Farmers auto insurance is only available in 42 states. Both companies have positive AM Best ratings, which demonstrates their ability to pay out future claims.

FactorFarmersGEICO
Insurify Quality (IQ) Score3.84.2
Customer satisfaction score3.33.3
Average quote: liability only$110$54
Number of available discounts2216
Number of states where it operates4250
Disclaimer: Table data sourced from real-time quotes from Insurify's 50-plus partner insurance providers. Actual quotes may vary based on the policy buyer's unique driver profile.
  • Our editorial team spent 350 hours developing the Insurify Quality (IQ) Score and scoring insurance companies. The IQ Score objectively analyzes and calculates a score for insurers using more than 15 crucial criteria. Criteria are weighted by importance to the consumer — factors such as customer reviews and affordability influence the score more than availability and third-party ratings.

    We rate each company on a 1 to 5 scale based on five categories: financial ratings, customer satisfaction, affordability, customer support and transparency, and availability. We update ratings once a year or as more recent information becomes available.

    • Third-party financial ratings: We use data from AM Best, S&P, Moody's, and more to compare insurance companies’ credit and ability to pay out future claims.
    • Customer satisfaction: To calculate this score, Insurify analyzed more than 20,000 customer reviews across 155 car insurance companies. We also considered third-party ratings from J.D. Power, the National Association of Insurance Commissioners, and Trustpilot.
    • Affordability: Our data scientists analyzed more than 90 million real-time auto insurance rates from our partners across the United States, as well as available discounts, to calculate an affordability score.
    • Customer support and transparency: This measures coverage options, ease of claims filing, and the insurer's transparency surrounding discounts, coverages, and claims process.
    • Availability and reach: Insurify identified the number of states in which insurers offer coverage and company size by market share to score availability and reach.

Farmers 

Farmers offers highly customizable auto insurance coverage and has a network of more than 48,000 insurance agents available in all 50 states.

Compare personalized, real-time quotes
IQ Score
The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-five scale. The Insurify editorial team researches insurer data to determine the final scores.
3.8
JD Power
J.D. Power data measures overall customer satisfaction and claims satisfaction based on a 1,000-point scale.
815
Liability Only
Liability-only insurance, sometimes called minimum-coverage insurance, pays for bodily injury and property damage to others in an accident the policyholder causes. It does not pay for the insured’s own damages.
$110/mo
Full Coverage
Full-coverage car insurance generally includes liability, collision, and comprehensive coverage, and may include other optional coverages such as uninsured motorist coverage. Collision covers a policyholder’s repair or replacement costs in case of an accident. Comprehensive covers damages caused by non-accident events. The average quote displayed here reflects policies with the following coverage limits: $50,000 bodily injury liability per person; $100,000 bodily injury liability per accident; $50,00 property damage liability per accident; $1,000 collision deductible; and a $1,000 comprehensive deductible.
$249/mo

The seventh largest insurer in the U.S., Farmers has been in business for more than 100 years. The company offers about 30 different types of insurance, including auto, home, renters, flood, earthquake, life, and business insurance. Farmers offers numerous discounts, including for multiple cars, safe driving, anti-theft equipment, and bundling. Swiss insurer Zurich Insurance owns Farmers. With an A rating from A.M. Best for financial stability, Farmers has mixed online reviews from customers, and about four times as many complaints as expected in the National Association of Insurance Commissioners Customer Complaint Index.

Pros
  • Many discounts

  • Robust roadside assistance program

Cons
  • Lower customer satisfaction

  • Tends to have higher premiums than some competitors

Read our Farmers review
Glenna - April 14, 2024
Verified

Very Disappointed with Farmers After 20 Plus Years Due to Increased Prices

Farmers requiring a two-month premium at renewal and increased monthly rates was not within my budget.

Robert - April 14, 2024
Verified

No

Our experience has been good overall, except for the value. They have priced themselves out of our budget.

Catherine - April 14, 2024
Verified

Increasing Prices

They're good. I've been with them since I was 16, but they keep increasing their prices. This upsets me because I'm on a fixed income.

GEICO

GEICO is known for its affordability, various car insurance discounts, and highly rated mobile app.

Compare personalized, real-time quotes
IQ Score
The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-five scale. The Insurify editorial team researches insurer data to determine the final scores.
4.3
JD Power
J.D. Power data measures overall customer satisfaction and claims satisfaction based on a 1,000-point scale.
835
Liability Only
Liability-only insurance, sometimes called minimum-coverage insurance, pays for bodily injury and property damage to others in an accident the policyholder causes. It does not pay for the insured’s own damages.
$54/mo
Full Coverage
Full-coverage car insurance generally includes liability, collision, and comprehensive coverage, and may include other optional coverages such as uninsured motorist coverage. Collision covers a policyholder’s repair or replacement costs in case of an accident. Comprehensive covers damages caused by non-accident events. The average quote displayed here reflects policies with the following coverage limits: $50,000 bodily injury liability per person; $100,000 bodily injury liability per accident; $50,00 property damage liability per accident; $1,000 collision deductible; and a $1,000 comprehensive deductible.
$119/mo

A highly recognizable name in car insurance, GEICO is a subsidiary of Berkshire Hathaway. The company started out as the Government Employees Insurance Company, serving U.S. government workers and military personnel. In addition to auto insurance, GEICO also sells homeowner, flood insurance, life insurance, business insurance, and identity protection, among other products. A.M. Best gives GEICO its highest rating for financial stability and credit. However, GEICO has nearly twice as many complaints as expected in the National Association of Insurance Commissioner’s Consumer Complaints Index.

Pros
  • Good rates for good drivers, seniors, and young drivers

  • Accident forgiveness available

Cons
  • High rates for drivers with certain violations, like DUIs

  • No rideshare or new car replacement coverage available

Read our GEICO review
Andy - April 15, 2024
Verified

Unexpected Rate Increase

I had an accident and they raised my rates to over $8,000 a year. I initially thought I was making normal upfront payments, but it turned out to be monthly payments.

Jerrett - April 15, 2024
Verified

Poor

Too expensive.

Randy - April 15, 2024
Verified

Good

It's a good company, but I feel the price keeps going up.

Farmers Signal vs. GEICO DriveEasy

To help good drivers save even more on car insurance, Farmers and GEICO offer telematics programs that can reduce rates when you demonstrate safe driving habits.

Farmers Signal is a smartphone app that monitors your driving behavior and encourages safer driving habits. When you sign up for the Signal app, you’ll earn an initial discount on your premiums.

As you use the app, it monitors your driving for behaviors like braking suddenly, speed, and phone usage. If you demonstrate that you’re a good driver, you could earn another discount when your auto policy renews. But poor driving habits could cause your rates to increase.

GEICO DriveEasy is also a mobile app that monitors your driving habits. As you use the app, it provides insights and stats about your driving behavior.

If you demonstrate good driving habits using DriveEasy, you could earn a discount of up to 25% on your insurance. But the program isn’t available in every state.

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Farmers vs. GEICO: Which is the cheapest?

GEICO is the cheapest car insurance company overall, according to Insurify data. Its coverage costs an average of $54 per month liability-only insurance and $119 per month for full coverage.

Farmers car insurance costs an average of $110 per month for liability insurance and $249 per month for full coverage — nearly twice as much as GEICO.

Your car insurance rates depend on personal factors like your age, ZIP code, vehicle, and even credit score, in some states. Here’s how GEICO’s and Farmers’ average rates compare for various driver profiles.

GEICO: Cheapest for drivers with a clean driving record

People with a good driving history typically pay the lowest rates for auto insurance. GEICO is the cheapest option for drivers with a clean driving record for both liability and full-coverage insurance.

Driver TypeFarmersGEICO
Clean driving record$110$54
Disclaimer: Table data sourced from real-time quotes from Insurify's 50-plus partner insurance providers. Actual quotes may vary based on the policy buyer's unique driver profile.

GEICO: Cheapest for drivers with a speeding ticket

Speeding tickets can increase car insurance rates because they increase your risk of filing a claim. GEICO is the cheapest option for drivers with a speeding ticket on their record. On average, Farmers charges more than twice as much as GEICO.

Driver TypeFarmersGEICO
Drivers with a speeding ticket$126$62
Disclaimer: Table data sourced from real-time quotes from Insurify's 50-plus partner insurance providers. Actual quotes may vary based on the policy buyer's unique driver profile.

GEICO: Cheapest for teen drivers

Teens pay the highest rates for car insurance because they’re at higher risk for car accidents.[3] This increased risk can make it expensive for parents adding children to their policies. But GEICO is cheaper than Farmers for teen drivers.

Driver TypeFarmersGEICO
18-year-old$188$74
Disclaimer: Table data sourced from real-time quotes from Insurify's 50-plus partner insurance providers. Actual quotes may vary based on the policy buyer's unique driver profile.

GEICO: Cheapest for drivers with bad credit

Insurance companies believe drivers with poor credit are more likely to file an insurance claim, so they charge these drivers more for car insurance.[4] Most states allow insurance companies to use credit-based insurance scores when underwriting policies, but GEICO is the cheaper insurer for drivers with poor credit.

Driver TypeFarmersGEICO
Drivers with bad credit$124$63
Disclaimer: Table data sourced from real-time quotes from Insurify's 50-plus partner insurance providers. Actual quotes may vary based on the policy buyer's unique driver profile.

GEICO: Cheapest for senior drivers

Car insurance premiums tend to decrease as drivers age and gain more experience driving, but rates can increase again around age 70. Age-related health issues can affect driving capabilities and increase risk.

Compared to Farmers, GEICO is the cheaper car insurance company for senior drivers.

Driver TypeFarmersGEICO
Senior drivers$82$41
Disclaimer: Table data sourced from real-time quotes from Insurify's 50-plus partner insurance providers. Actual quotes may vary based on the policy buyer's unique driver profile.

Compare coverages: Farmers vs. GEICO

Farmers and GEICO offer standard insurance coverages that meet state requirements, like liability, collision, comprehensive, and personal injury protection. And both companies offer a variety of additional coverage options, like rideshare insurance and accident forgiveness.

Farmers offers new-car replacement coverage, which will pay to replace your vehicle with a new one of the same make and model. This coverage is available if your car is totaled with the first two model years and 24,000 miles.

Meanwhile, GEICO is missing important optional coverages like gap insurance and new-car replacement. Here’s how the two insurance companies’ coverages compare.

CoverageFarmersGEICO
Gap insuranceNoNo
Rideshare insuranceYesYes
Accident forgivenessYesYes
Roadside assistanceYesYes
Rental reimbursementYesYes
New-car replacement YesNo

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Compare discounts: Farmers vs. GEICO

Drivers pay more on average with Farmers than GEICO, but Farmers offers slightly more car insurance discounts. It offers discounts that GEICO doesn’t, such as low-mileage, auto pay, and student away-at-school discounts. These extra discounts could help make up for Farmers’ more expensive rates.

DiscountFarmersGEICO
Clean driving recordYesYes
Defensive driving courseYes, but only in states that legally mandate itYes
Multi-policyYesYes
Multi-carYesYes
Low mileageYesNo
Telematics (safe driving app)YesYes
Anti-theft deviceYesYes
New carNoYes
Military/affiliationYesYes
Good studentYesYes
LoyaltyYesYes
Auto payYesNo
Student away at schoolYesNo
HomeownerNoNo
Alternative fuelYesNo

Farmers vs. GEICO FAQs

If you’re still unsure whether Farmers or GEICO offers the best auto insurance, the answers to the following questions may help you decide.

  • Is Farmers or GEICO better?

    GEICO is a better choice for drivers who want cheaper rates. Farmers offers more car insurance discounts than GEICO, but its average monthly rates are nearly twice as high. But Farmers is the better choice for anyone who wants more coverage options.

  • What are the main differences between Farmers and GEICO?

    The companies have many similarities, but GEICO is cheaper than Farmers and has better J.D. Power customer satisfaction ratings. But Farmers has a larger network of local insurance agents and offers more discounts and coverage options.

  • Who is eligible for a GEICO policy?

    Almost anyone is eligible for a GEICO policy, as the company doesn’t restrict or require membership. But insurance companies can deny high-risk drivers coverage.[5]

  • What additional services do Farmers and GEICO offer?

    GEICO and Farmers offer other types of insurance in addition to car insurance. Farmers offers life insurance, home insurance, pet insurance, and business insurance. GEICO has homeowners insurance, renters insurance, commercial auto insurance, and travel insurance.

Methodology

Insurify data scientists analyzed more than 90 million quotes served to car insurance applicants in Insurify’s proprietary database to calculate the premium averages displayed on this page. These premiums are real quotes that come directly from Insurify’s 50+ partner insurance companies in all 50 states and Washington, D.C. Quote averages represent the median price for a quote across the given coverage level, driver subset, and geographic area.

Unless otherwise specified, quoted rates reflect the average cost for drivers between 20 and 70 years old with a clean driving record and average or better credit (a credit score of 600 or higher).

Liability-only premium averages correspond to policies with the following coverage limits:

  • Bodily injury limits between state-minimum rates and $50,000 per person, $100,000 per accident
  • Property damage limits between $10,000 and $50,000
  • No additional coverage
Full-coverage premium averages correspond to the same bodily injury and property damage limits in addition to:
  • Comprehensive coverage with a $1,000 deductible
  • Collision coverage with a $1,000 deductible

Quotes for Allstate, Farmers, GEICO, State Farm, and USAA are estimates based on Quadrant Information Services’ database of auto insurance rates.

Sources

  1. NAIC. "2022 Property and Casualty Market Share."
  2. J.D. Power. "2023 U.S. Auto Insurance Study."
  3. Centers for Disease Prevention and Control. "Teen Drivers and Passengers: Get the Facts."
  4. III. "Background on: Insurance scoring."
  5. III. "What if I can't find auto coverage?."
Jamie Johnson
Jamie Johnson

Jamie Johnson is a Kansas City-based personal finance writer whose work has been featured on several of the top finance and business sites in the country, including Insider, Credit Karma, Bankrate, Rocket Mortgage, Fox Business, Quicken Loans, and The Balance. For the past six years, she's dedicated more than 10,000 hours of research and writing to more than 2,000 articles about personal finance topics.

Courtney Mikulski
Edited byCourtney MikulskiSenior Editor, Auto
Courtney Mikulski
Courtney MikulskiSenior Editor, Auto
  • 3+ years producing insurance and personal finance content

  • Main architect of the Insurify Quality Score

Courtney’s deep personal finance knowledge extends beyond insurance to credit cards, consumer lending, and banking. She thrives on creating actionable content.

Featured in

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Konstantin Halachev
Data reviewed byKonstantin HalachevVice President of Engineering
Headshot of Konstantin Halachev, VP of Engineering at Insurify
Konstantin HalachevVice President of Engineering
  • 7+ years experience in data analysis

  • Ph.D. in Computational Biology

Konstantin has led data teams across multiple industries, including insurance, travel, and biology. He’s led Insurify’s engineering team for more than three years.

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