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

State Farm’s 100-year history, strong financial standing, and array of discounts make it a better consideration for auto coverage than Farmers.

Taylor Milam-Samuel
Taylor Milam-Samuel
  • 8+ years writing for major outlets, including MarketWatch and Business Insider

  • Master’s in Education

Taylor Mlam-Samuel is a personal finance writer and credentialed educator. When she’s not helping readers better save and spend money, she can be found teaching.

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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 March 1, 2024 at 11:00 AM PST

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State Farm and Farmers are both well-known insurance companies with long histories. State Farm stands out with generous discounts and extensive coverage options. Farmers has robust roadside assistance and high customer satisfaction. Neither company offers gap insurance, which might be a dealbreaker for drivers with auto loans.

As you determine the best option between State Farm and Farmers, it’s essential to compare rates, customer service, discounts, and coverage options. Your driving record and ZIP code also matter when choosing between these two auto insurers.

Here’s how to decide whether State Farm or Farmers is a better fit for you.

Quick Facts
  • State Farm has lower average rates in all categories, including for drivers with poor credit and speeding tickets.

  • Discounts are similar for both insurers, but Farmers stands out with rate deductions for military members.

  • Coverage options are nearly identical through both Farmers and State Farm.

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State Farm vs. Farmers: The verdict

State Farm has more competitive rates and a strong financial strength rating, which indicates a solid outlook for paying out future claims. 

Farmers, on the other hand, has more extensive coverage options, including customized equipment coverage and accident forgiveness. But the extra coverage options come at a cost since Farmers’ average rates are nearly double what you can find with State Farm. 

Farmers’ car insurance discounts might offset some of the higher prices, but if you want cheaper car insurance rates, State Farm is probably a better fit.

FactorState FarmFarmers
IQ Score4.53.8
Customer satisfaction score43.5
Average quote: liability only$53$110
Number of discounts1022
Number of states where it operates50 and Washington, D.C.50 and Washington, D.C.
Disclaimer: Table data sourced from real-time quotes from Insurify's 50-plus partner insurance providers and quote estimates from Quadrant Information Services. Actual quotes may vary based on the policy buyer's unique driver profile.
  • Insurify uses an in-house, proprietary method to rate and review the best car insurance companies. The Insurify Quality (IQ) Score uses more than 15 crucial criteria, including average premiums, customer satisfaction, discounts, third-party ratings, and more, to calculate a final score for a company.

    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. With the IQ Score, Insurify is able to provide quantitative ratings for drivers to better compare car insurance companies and make informed decisions to meet their coverage needs.

State Farm

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.
4.4
JD Power
J.D. Power data measures overall customer satisfaction and claims satisfaction based on a 1,000-point scale.
842
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.
$53/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.
$115/mo

State Farm has been in business for more than 100 years, and today sells auto and other vehicle insurance, homeowners, life, health, pet, disability, and small business insurance. Available in all 50 states, State Farm car insurance policies offer multiple ways to save, from customizing coverage types, to a robust list of discounts. The company has far fewer complaints than expected for the industry, according to the National Association of Insurance Commissioner’s Consumer Complaints Index. State Farm also ranks among the top 10 companies for customer satisfaction in every region on the J.D. Power Overall Customer Satisfaction Index.

Pros
  • High rates of customer satisfaction

  • Rideshare insurance available

Cons
  • No gap insurance offering

  • May not be the cheapest choice for drivers with violations

I am happy with their coverage. I just bought a new car, and my insurance quadrupled. YIKES.

Stacy - December 4, 2023
Verified

Friendly service.

John - December 4, 2023
Verified

Got insurance established fast.

Robert - December 3, 2023
Verified
Read our State Farm review

Farmers

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.
$250/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

For over a month, I have been trying to get just two vehicles on my policy, and they can’t get it right. And they are impossible to get ahold of. Very frustrating.

Joel - December 1, 2023
Verified

As a company, they were wonderful, but they jacked up their rates so high for me to stay with them. They require you to pay two months in advance, which is $500, which was out of my price range. I just don’t understand why they do that.

jessica - November 27, 2023
Verified

They treated me well.

Karen - November 21, 2023
Verified
Read our Farmers review

State Farm Drive Safe & Save vs. Farmers Signal

State Farm and Farmers offer optional telematics programs that track driving habits through a mobile app, allowing drivers to earn discounts for driving safely. State Farm’s Drive Safe & Save provides a discount of up to 30%, and drivers must download the Drive Safe & Save app or enroll eligible vehicles in Connected Car. Driving patterns determine the discount amount, but you can also earn a discount for signing up. State Farm calculates rate deductions every six months.[1]

Farmers offer Signal, a similar discount program that rewards safe drivers. Drivers must download the Signal by Farmers app and allow it to track their driving. The discount amount varies depending on your driving habits, but young drivers between 15 and 24 years old can earn an extra discount.[2]

Keep in mind that both of these programs track all your driving habits — not just the positive ones. If you exceed the speed limit, brake suddenly, or take turns too sharply, your rates could increase.

Keep Reading: How Usage-Based Car Insurance Works

Keep Reading: How Usage-Based Car Insurance Works

State Farm vs. Farmers: Which is the cheapest?

State Farm’s average rates are significantly cheaper than Farmers’ average rates. However, your chosen insurance company is only one factor that influences your costs. Your location, credit, driving record, and age also affect how much you pay for car insurance.[3]

Here’s how State Farm’s and Farmers’ rates compare among different driver profiles.

State Farm: Cheapest for drivers with a clean driving record

State Farm offers cheaper average rates for drivers with a clean driving record — about half the average monthly cost from Farmers.

Driver TypeState FarmFarmers
Clean driving record$53$110
Disclaimer: Table data sourced from real-time quotes from Insurify's 50-plus partner insurance providers and quote estimates from Quadrant Information Services. Actual quotes may vary based on the policy buyer's unique driver profile.

State Farm: Cheapest for drivers with a speeding ticket

Average insurance rates from State Farm are cheaper than average rates from Farmers for drivers with a speeding ticket.

Driver TypeState FarmFarmers
Drivers with a speeding ticket$59$126
Disclaimer: Table data sourced from real-time quotes from Insurify's 50-plus partner insurance providers and quote estimates from Quadrant Information Services. Actual quotes may vary based on the policy buyer's unique driver profile.

State Farm: Cheapest for teen drivers

Teenage drivers pay cheaper average rates with State Farm — average rates with Farmers are nearly twice as much.

Driver TypeState FarmFarmers
18-year-old$87$187
Disclaimer: Table data sourced from real-time quotes from Insurify's 50-plus partner insurance providers and quote estimates from Quadrant Information Services. Actual quotes may vary based on the policy buyer's unique driver profile.

State Farm: Cheapest for drivers with bad credit

Your credit history can affect your car insurance costs, and State Farm has better average rates for drivers with bad credit.

Driver TypeState FarmFarmers
Drivers with bad credit$83$124
Disclaimer: Table data sourced from real-time quotes from Insurify's 50-plus partner insurance providers and quote estimates from Quadrant Information Services. Actual quotes may vary based on the policy buyer's unique driver profile.

State Farm: Cheapest for senior drivers

Senior drivers can find cheaper average rates with State Farm since average costs from Farmers are nearly twice as much.

Driver TypeState FarmFarmers
Senior drivers$38$82
Disclaimer: Table data sourced from real-time quotes from Insurify's 50-plus partner insurance providers and quote estimates from Quadrant Information Services. Actual quotes may vary based on the policy buyer's unique driver profile.

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Compare coverages: State Farm vs. Farmers

State Farm and Farmers coverage options are nearly the same. Both insurers offer standard coverages like liability insurance, personal injury protection, uninsured/underinsured motorist coverage, medical payments, collision, and comprehensive.

Drivers can also get roadside assistance, rental car reimbursement, and rideshare insurance. Similarly, neither insurer provides gap insurance, which some lenders require. Farmers provides optional customized equipment coverage, which might be a helpful addition for some drivers but doesn’t apply to most.

Here’s how the add-ons for coverage options compare.

CoverageState FarmFarmers
Gap insuranceNoNo
Roadside assistanceYesYes
Rental reimbursementYesYes
Rideshare insuranceYesYes
Travel expense coverageYesYes
Customized equipment coverageNoYes

Compare discounts: State Farm vs. Farmers

State Farm and Farmers have nearly identical discount options. Both insurers offer discounts for good drivers, multi-policies, and good students. At the same time, neither company provides discounts for new cars or low-mileage drivers. However, military members might secure a slightly lower rate with Farmers since the company offers a military discount, which State Farm doesn’t.

Here’s how discount options compare between both car insurance companies.

DiscountState FarmFarmers
Clean driving recordYesYes
Defensive driving courseYesYes
Multi-policyYesYes
Multi-carYesYes
Low mileageNoNo
Telematics (safe driving app)YesYes
Anti-theft deviceYesYes
New carNoNo
Military/affiliationNoYes
Good studentYesYes
LoyaltyYesYes
Auto payNoYes
Student away at schoolYesYes
HomeownerYesYes
Alternative fuelNoYes

State Farm vs. Farmers FAQs

As you determine the best insurance company for your vehicle coverage, consider the answers to these common questions about State Farm and Farmers.

  • Is State Farm the same as Farmers?

    State Farm and Farmers are separate companies. Both offer auto insurance, but they have different owners and operators.

  • Who is State Farm’s biggest competitor?

    State Farm is one of the most well-known insurance companies in the country, and its competitors include other large insurance companies, like Farmers, GEICO, Allstate, and USAA.

  • Does State Farm have a bad reputation?

    State Farm has a solid reputation as a long-standing and well-known insurance company in the United States. The company has a strong financial rating and a big market share. Based on ratings from the National Association of Insurance Commissioners, complaints are lower than average.

  • What are the main differences between State Farm and Farmers insurance policies?

    The primary difference between State Farm and Farmers insurance policies is the average price. State Farm offers cheaper rates that are usually half the price of Farmers, according to Insurify data. If you want the best deal on car insurance, State Farm is probably the better pick.

Sources

  1. State Farm. "Drive Safe & Save™ – Safe Driver Discounts." Accessed November 9, 2023
  2. Farmers. "Save with Signal®." Accessed November 9, 2023
  3. III. "What determines the price of an auto insurance policy?." Accessed November 9, 2023
Taylor Milam-Samuel
Taylor Milam-Samuel

Taylor Milam-Samuel is a writer and credentialed educator who is fascinated by how people earn, save, and spend their money. When she's not researching financial terms and conditions, she can be found in the classroom teaching.

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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