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

Progressive vs. Farmers: A Summary

Drivers looking for their next insurance policy should consider comparing car insurance companies like Progressive and Farmers. Both companies have Insurify Composite scores above 80, and while Progressive is cheaper than Farmers, both offer affordable coverage options.

Use the table below to see how the two companies compare against each other on rates and Insurify Composite Scores.

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.

Progressive

By now, most drivers have heard of Progressive insurance, thanks to its sizable national footprint. As the third-largest insurance provider, Progressive currently holds 13 percent of the market share for auto insurance.

Drivers should feel comfortable selecting Progressive for their auto policy. Not only does the company offer affordable rates, but it also offers more coverage options than just about any other auto insurance company in the country.

Farmers

Drivers looking for an insurance provider that goes above and beyond for its policyholders should consider Farmers. Farmers Insurance consistently ranks among the top insurance companies regarding customer satisfaction ratings and positive claim experience.

It also offers a decent amount of coverage options and add-ons to help you customize your auto policy to fit your current situation. Overall, Farmers should make your list of companies to consider if you are okay with paying a little more for coverage to get a better customer service experience.

Progressive vs. Farmers – Ratings

Both Progressive and Farmers Insurance scored very well on external financial strength ratings. According to A.M. Best and Moody’s, Farmers insurance did have better customer satisfaction and claims satisfaction ratings, but Progressive scored better in other categories.

The Best Car Insurance Companies in 2022

When selecting your auto insurance provider, it’s crucial to pick the best possible company for you. For example, if you are looking for an insurance company that offers excellent rates for more experienced drivers, then Progressive is often the best option. Likewise, people who value customer service should look into a policy from Farmers Insurance.

Compare Progressive vs. Farmers: Which Is Cheaper?

Overall, if you are looking for the best rates and considering either Progressive or Farmers, you should choose Progressive. Not only does the company offer the most affordable rates for standard coverage, but it is cheaper for most subgroups of drivers as well.

The Cheapest Car Insurance Companies in 2022

While neither Progressive nor Farmers Insurance has the lowest rates in the industry, both offer affordable coverage for drivers. Progressive auto insurance has the sixth-lowest average monthly cost for standard car insurance policies.

Compare Progressive vs. Farmers Car Insurance by Age

While it isn’t the number one thing that insurance companies look at when setting the rates for a policyholder, age can significantly determine how much you pay each month—this is especially true for young drivers.

Progressive and Farmers both follow the same age trend, as 18-year-olds pay more than those who are 55 years old. However, Progressive has the lower rates for each age group compared to Farmers.

Compare Progressive vs. Farmers Car Insurance by Gender

Gender isn’t often the first criteria that drivers think about when it comes to factors that affect their insurance premiums. However, most insurance providers will offer lower rates to female drivers over male drivers. The main reason for the difference is that statistics show male drivers are more likely to partake in risky driving habits and behaviors.

Both Progressive and Farmers Auto Insurance follow the industry trend and offer better rates for females than males. However, both insurance companies are above the national average for males and females.

Which is cheapest for men?

For male drivers looking for auto insurance coverage, Progressive offers lower rates than Farmers. Its policies tend to be $30 less per month and save male drivers more than $300 annually.

Which is cheapest for women?

The national average for female drivers is $68 per month, and while Progressive and Farmers have average rates higher than that, both are still great options for coverage. Progressive is the most affordable between the two, as it comes in almost $30 less than Farmers.

Which is cheapest for women?

Compare Progressive vs. Farmers Car Insurance by Mileage

Mileage isn’t something that often plays a big factor in the price you pay each month for your auto insurance policy unless your insurance provider offers a mileage-based plan. Progressive doesn’t offer special rates based on mileage, but Farmers does.

Drivers who only drive around 5,000 miles each year can save as much as $10 per month by choosing Farmers Insurance over Progressive.

Which is cheapest for drivers with high mileage?

If you use your vehicle for business or plan on putting more than 15,000 miles on your car each year, then you should consider Progressive over Farmers. You can save around $27 per month on auto coverage by choosing Progressive.

Which is cheapest for drivers with low mileage?

Even though Farmers does offer a discount of around $10 per month for drivers who only drive 5,000 miles per year, it is still more expensive than Progressive. A policy with Progressive tends to run drivers around $78 per month if you keep your mileage under 10,000 annually.

Compare Progressive vs. Farmers Car Insurance by Credit Score

Credit scores affect everything from your ability to get a loan to the price you pay for an auto insurance policy. Car insurance companies use credit scores to determine your likelihood of making payments on time and filing claims.

Progressive and Farmers both reward drivers who have good credit scores with lower average monthly premiums.

Which is cheapest for good credit?

If your credit history is in good standing and you have good credit, Progressive is more likely to provide affordable rates than Farmers. On average, a driver will pay $16 less per month with car insurance through Progressive than purchasing coverage through Farmers.

Which is cheapest for bad credit?

Generally, drivers who have a below-average credit history pay more for coverage. Both Progressive and Farmers have increased rates, but Progressive remains the cheaper option of the two, with a monthly average of $113 for drivers with poor credit.

Compare Progressive vs. Farmers Car Insurance by Driving Record

Out of all the factors affecting auto insurance rates, your driving record often plays the biggest part in determining your monthly premium. Insurance providers use driving history to tell how much of a risk a driver is to insure. The more at-fault accidents or tickets, the more risk an insurance company takes on to insure a driver.

The type of incidents and the number of times they occur on a driving record can also affect how significant the increase in premiums is. For example, some insurance providers offer accident forgiveness and won’t raise your rates if you have one accident. However, if you have multiple accidents or tickets, your rates are likely to increase.

Which is cheapest for good drivers?

Drivers with no accidents or tickets on their driving record will typically receive the lowest quotes. While neither Progressive nor Farmers has average rates below the national average of $67 per month, Progressive is still $14 cheaper than Farmers.

Which is cheapest after a speeding ticket?

If you have received a speeding ticket, Progressive is the best option to purchase your auto insurance. The company offers average rates of around $99 per month and is $30 cheaper than Farmers.

Which is cheapest after an accident?

An accident can increase your overall auto insurance rates. For instance, Progressive and Farmers increase rates by nearly $40 for drivers with an accident compared to those without one. Still, Progressive remains the cheaper option of the two insurance providers.

Which is cheapest after a DUI?

DUIs usually mean a significant increase in monthly premium payments. Progressive is one of the few insurance providers that offer some forgiveness with DUIs and only has average premium increases of $16.

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

Our Methodology and How We Compared Progressive and Farmers

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.