Compare Farmers vs. Mercury: Quotes, Discounts (2023)

Farmers vs. Mercury: A Summary

Farmers and Mercury Insurance are two insurance companies offering a wide range of insurance coverage options for policyholders. Since the two insurance providers have tons of car insurance policies with varying insurance rates and discounts, we’ve compiled an analysis of the data so you can see which car insurance fits your needs and budget as a driver.

ICS Score Explanation:

The Insurify Composite Score (ICS) is a proprietary rating calculated by a team of data scientists at Insurify, weighing multiple factors that reflect the quality, reliability, and health of an insurance company.

Inputs to the score include financial strength ratings from A.M. Best, Standard & Poor’s, Moody’s, and Fitch; J.D. Power ratings; Consumer Reports customer satisfaction surveys and customer complaints; mobile app reviews; and user-generated company reviews.

Farmers

As one of the country’s largest insurance providers, Farmers insurance offers strong premiums on car insurance alongside its home insurance and business insurances. Farmers’ auto insurance also has great customer satisfaction ratings thanks to its coverage options, making the insurance company a great choice for policyholders worrying over a risky driving record.

Mercury

Operating since 1961, Mercury Insurance is dedicated to providing the best rates on auto insurance policies. The company also offers plenty of benefits, like roadside assistance, to its policyholders, making Mercury Insurance a great choice for drivers wanting different types of coverage that fit any situation, especially rideshare drivers for Uber or Lyft.

The Best Car Insurance Companies in 2022

Both insurance companies are listed above as some of the top car insurance companies of 2021, with Farmers ranking fifth on the list thanks to its amazing rideshare coverage. Mercury insurance ranks eighth thanks to its great face-to-face customer service.

Compare Farmers vs. Mercury: Which Is Cheaper?

Between Farmers and Mercury, Farmers typically offers the cheaper insurance. On average, Farmers costs nearly $12 less than Mercury in most categories involving infractions. That $12 makes Farmers a cheaper option for driving with a less-than-stellar driving record.

The Cheapest Car Insurance Companies in 2022

While the two insurance companies are not on the list above, Mercury and Farmers are still great options for specific drivers. Farmers is cheapest for drivers with a poor credit score or drivers without a clean driving record. Mercury is cheapest for men or drivers with a clean driving record.

Compare Farmers vs. Mercury Car Insurance by Age

According to the NAIC, auto insurance companies rely on age to determine how reliable a driver might be in the future. Since younger drivers are inexperienced, they pose a higher risk, usually paying above the average rate. Drivers older than 50 also pay a bit more since they are prone to being a higher risk, too.

Between the companies, Mercury is the cheapest option for every age except for 30-year-old drivers. For those in their 30s, Farmers is the cheaper option, costing $101 compared to Mercury’s $104. For every other age group except teens, Mercury is the cheaper option by only a few dollars. However with Mercury, teen drivers will pay $315, instead of $343 with Farmers.

Compare Farmers vs. Mercury Car Insurance by Gender

Gender is another important factor used by insurance companies to measure how risky a driver will be under their policies. Auto insurance companies compiled the data and determined that men tend to be reckless drivers, meaning they’ll pay more for insurance.

However, between Mercury and Farmers Insurance, Mercury avoids the expected spike in insurance rates for men. With Mercury, men pay $98 a month compared to $104 for women. With Farmers, men pay $108 a month, while women pay $105. Despite the small price difference, Mercury remains the cheaper option for both men and women.

Which is cheapest for men?

For men, Mercury is the cheaper option, costing $98 compared to $108 with Farmers. While both options are above the national average of $81, Mercury is the better choice for drivers looking to save each month.

Which is cheapest for women?

For women, Mercury is the cheaper option, costing $104 as opposed to $105 with Farmers. Since the price difference is only $1, both auto insurance providers are great options for women willing to spend above the national average of $78.

Compare Farmers vs. Mercury Car Insurance by Mileage

Auto insurance companies use mileage to determine if a policyholder’s car will be at a higher or lower risk and cost on the road. Vehicles with higher mileage tend to be a larger risk since maintenance costs are higher compared to vehicles with lower mileage.

For each mileage category, Mercury remains at a constant $104, while Farmers stays at a solid $105 for drivers in nearly every mileage category except 5,000 annual miles. Farmers policyholders actually pay $95 with 5,000 annual miles.

Which is cheapest for drivers with high mileage?

Mercury will be the cheapest option, costing $104 for vehicles with an annual mileage of 20,000 and 15,000. Mercury becomes a great option for higher-risk drivers living in their states of operation who also prefer interacting with an actual person, not an online claims service.

Which is cheapest for drivers with low mileage?

For drivers with an annual mileage of 10,000, Mercury is the cheaper option, costing $104, while Farmers remains $105. For drivers with an annual mileage of 5,000, Farmers becomes a cheaper option, costing $95, which is cheaper than Mercury’s $104.

Compare Farmers vs. Mercury Car Insurance by Credit Score

Many insurance companies use credit scores as part of the underwriting process to determine rates for policyholders. Since credit scores typically show how likely you’ll be to file an insurance claim, drivers with a higher credit score pay less on their monthly rates.

Which is cheapest for good credit?

For drivers with excellent and good credit scores, Farmers is the cheaper option, costing $67 and $85, respectively. While Mercury costs $78 for drivers with excellent credit and $96 for good credit, both Farmers and Mercury are still above the national average price of $60.

Which is cheapest for bad credit?

For drivers with average and poor credit scores, Farmers is still the cheaper option, costing $90 and $135, respectively. As with the other credit scores, Mercury has a higher rate, costing $103 for drivers with average credit scores and $140 for poor credit scores. Farmers becomes a great choice for drivers wanting to save on a more reliable coverage policy.

Compare Farmers vs. Mercury Car Insurance by Driving Record

Your driving record is the clearest indicator of how much of a risk you’ll be on the road to insurance companies. Drivers with a clean record don’t have any infractions, meaning they aren’t usually a risk on the road and pay less than drivers with infractions on their records.

With Farmers, drivers will pay $105 with a clean record, $129 after a speeding ticket, $127 after an accident, and $132 after a DUI. With Mercury, drivers will pay $104 with a clean record, $129 after a speeding ticket, $164 after an accident, and $141 after a DUI.

Which is cheapest for good drivers?

For drivers with a clean driving record, Mercury is the cheapest option, costing $104. While Farmers only costs $105, both insurers are still great choices for drivers who prioritize safety first, thanks to the insurance companies offering rideshare coverage to Uber and Lyft drivers.

Which is cheapest after a speeding ticket?

For drivers with a speeding ticket on their record, Mercury and Farmers insurance both cost $129. Since they are both above the national average, both insurances become viable options based on your own specific needs as a driver, such as the coverage options and discounts offered.

Which is cheapest after an accident?

After an accident, Farmers is the cheapest option for policyholders, costing $127 per month. While Mercury costs $164, Farmers’ lower price is somewhat rare given how much the company charges for drivers with a speeding ticket. However, both companies are above the $113 national average.

Which is cheapest after a DUI?

For drivers with a DUI, Farmers once again becomes the cheapest option, costing $132. And while Mercury costs a bit more at $141, both insurers offer a variety of discounts for safety features and equipment on vehicles.

Farmers vs. Mercury Car Insurance: What discounts does each offer?

Farmers Discounts

• Homeowners insurance bundling

• Life insurance bundling

• Renters insurance bundling

• Umbrella insurance bundling

• Auto safety equipment

• Good student

• Marriage

• Multi-policy

• Multicar

• Low mileage

• Alternative fuel

• Business/professional group

• Electronic funds

• Transfer ePolicy

• Paid in full

• Safe driver

• Senior defensive driver

• Youthful driver

• Antilock brakes

• Anti-theft device

• Passive restraint

Mercury Discounts

• Homeowners insurance bundling

• Condo insurance bundling

• Renters insurance bundling

• Defensive driver

• Defensive driving course

• Good driver

• Five-year accident-free

• Five-year claim-free

• New business five-year accident-free

• Three-year accident/violation-free

• Distant student

• Good student

• Mature driver

• Advance quote

• Annual two-pay

• eSignature

• Pay in full

• Prior carrier

• Daytime running lamps

• Alternative fuel

• Passive restraint

• Airbag

• Antilock brakes

• Anti-theft device

• Autopay

• Multicar

• Multi-policy

Our Methodology and How We Compared Farmers and Mercury

The car insurance quotes provided in Insurify’s insurance company comparison guides are based on the analysis of over 50 thousand insurance quotes from 500 ZIP codes nationwide. Insurify’s data science team performs a comprehensive analysis of factors car insurance providers weigh to calculate rates, including driver demographics, driving record, credit score, desired coverage level, and more to give representative samples.

Insurify’s analysis also incorporates the Insurify Composite Score (ICS) assigned to each insurance provider. The ICS is a proprietary rating calculated by weighing multiple factors that reflect the quality, reliability, and health of an insurance company.

Ratings used to calculate the ICS include Financial Strength Ratings from A.M. Best, Standard & Poor’s, Moody’s, and Fitch; J.D. Power ratings; Consumer Reports customer satisfaction surveys and customer complaints; mobile app reviews; and user-generated company reviews.

With the above insights and ranking methods, Insurify is able to offer car insurance shoppers a window into how insurance providers compare to one another in terms of both cost and quality.