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

Travelers has higher customer satisfaction and lower average premiums than Farmers, making it a better choice for many drivers looking for an affordable car insurer.

Christy Rakoczy
Written byChristy Rakoczy
Christy Rakoczy
Christy Rakoczy

Christy Rakoczy has been a personal finance and insurance writer for over a decade. Her work has been published on USA Today, MSN, Yahoo Finance, Credit Karma, Forbes Advisor, and more. Christy has a JD from UCLA School of Law and previously worked as a data analyst for Blue Cross and as a paralegal studies instructor before transitioning to writing full time.

Katie Powers
Edited byKatie Powers
Photo of an Insurify author
Katie PowersAuto and Life Insurance Editor
  • Licensed auto and home insurance agent

  • 3+ years experience in insurance and personal finance editing

Katie uses her knowledge and expertise as a licensed property and casualty agent in Massachusetts to help readers understand the complexities of insurance shopping.

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Konstantin Halachev
Data reviewed byKonstantin Halachev
Headshot of Konstantin Halachev, VP of Engineering at Insurify
Konstantin HalachevVP of Engineering & Data Science
  • 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 July 14, 2024

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Travelers and Farmers are two of the largest national car insurance companies, and both companies have ample coverage offerings. But Travelers has a higher AM Best financial strength rating, lower premiums, and a higher Insurify Quality (IQ) Score of 9.0 out of 5. Farmers has a much larger agent network, but both insurance companies offer in-person support from many agents and brokers.

Before you buy a new auto policy, you should compare quotes from multiple insurance companies. Here’s what you need to know about Farmers and Travelers to decide which company is right for you.

Quick Facts
  • Travelers has received fewer customer complaints than Farmers on the National Association of Insurance Commissioners (NAIC) complaint index.

  • The average cost of liability insurance is $113 per month from Farmers and $90 from Travelers.

  • Farmers and Travelers both have safe driving telematics programs.

Farmers vs. Travelers: The verdict

Travelers charges lower average premiums than Farmers for motorists across many different driving profiles and coverage levels. Compared to Farmers, Travelers also received a lower number of complaints filed with the NAIC and earned higher customer satisfaction rankings in most markets in the J.D. Power 2023 U.S. Auto Insurance Study.[1]

Farmers has more add-on auto insurance products and discounts than Travelers. The company also has more insurance agents and a slightly higher rating for its mobile app in the Apple App Store. Both companies sell quality car insurance, but you may find Travelers is the better option thanks to lower prices and a higher IQ Score.

The table below shows some key differences between Farmers and Travelers that you should consider when looking for a car insurance policy that meets your specific needs.

FactorFarmersTravelers
IQ Score8.39.0
J.D. Power customer satisfaction score802 out of 1,000806 out of 1,000
Average quote: liability only$113$90
Number of discounts1814
Number of states where it operates5050
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 more than 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. The team weighted criteria 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 10 scale based on five categories: financial ratings, customer satisfaction, affordability, customer support and transparency, and availability. Insurify updates ratings once a year or as more recent information becomes available.

    • Third-party financial ratings: Insurify uses 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 28,000 customer reviews across 155 car insurance companies. We also consider 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 U.S., 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 scores availability and reach by identifying the number of states in which insurers offer coverage and company size by market share.

Farmers

With 4.55% of the personal auto insurance market share in the United States, Farmers is the country’s seventh-largest car insurance company.[2] Farmers received an above-average number of complaints on the NAIC complaint index for a company of its size.

Compare personalized, real-time quotes
User Reviews
3.0
IQ Score
The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-ten scale. The Insurify editorial team researches insurer data to determine the final scores.
8.3/10
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.
$113/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.
$251/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 more driver reviews of Farmers
Mukhtar - July 13, 2024
Verified

They Should Compare Their Rates with Other Insurance Companies

They charge more money than other insurance companies for the same coverage. Other insurance companies are a lot better than Farmer.

Jennifer - July 12, 2024
Verified

Awful

Experienced discriminatory behavior, dishonesty, and denial of accommodations for disability needs.

Cynthia - July 12, 2024
Verified

Very expensive, they have good claims service for cars but poor claim service for house damage caused by a falling tree. I had to report it twice.

Very expensive, they have good claims service for cars but poor claim service for house damage caused by a falling tree. I had to report it twice.

Travelers

Travelers received a below-average number of complaints with the NAIC for a company of its size. As the eighth-largest U.S. car insurance company, Travelers holds 2.11% of the personal auto market share.

Compare personalized, real-time quotes
User Reviews
3.5
IQ Score
The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-ten scale. The Insurify editorial team researches insurer data to determine the final scores.
9.0/10
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.
$90/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.
$196/mo

Travelers has been in business for more than 165 years. Today, the company sells auto insurance, homeowners, renters, flood, pet, and other types of insurance. In addition to liability and full-coverage car insurance, Travelers offers gap insurance, rental car reimbursement, roadside assistance, rideshare insurance, new car replacement coverage, and more. Policyholders can save with a number of discounts, including for bundling multiple policies, safe driving, paying in full, student discounts, and more. Travelers has fewer complaints than expected with the National Association of Insurance Commissioner’s Consumer Complaints Index. A.M. Best gives the company an A++ for financial strength.

Pros
  • Accident forgiveness available

  • Robust coverage selections and discount offerings

Cons
  • Rideshare coverage only available in Colorado and Illinois

  • High number of negative customer reviews with the Better Business Bureau

Read more driver reviews of Travelers
Linda - July 10, 2024
Verified

Final

Dealing with the computer-generated documents is trouble for me.

Janet - July 9, 2024
Verified

Fair

They increased my insurance after 6 months, even though I had no tickets or accidents.

Kim - July 9, 2024
Verified

Nickel and Dimed

Travelers was awful. They offer discounts, but only if you go paperless and there are little caveats that my agent never informed me about. Also, they increased my rates significantly without notice.

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Farmers Signal vs. Travelers IntelliDrive

Both Travelers and Farmers have a telematics program that you can potentially use to save on auto insurance premiums. You’ll need to install a smartphone app that monitors driving behavior.

Farmers offers an initial discount for signing up for its Signal telematics program. You can save more if you demonstrate safe driving behavior. If you earn a focused driving score above 80%, you can win monthly rewards valued up to $100. The app’s CrashAssist detection also uses sensors to identify accidents, which enables Farmers to send emergency services.

With the Travelers IntelliDrive program, you can earn a premium discount of up to 30% by installing the app to monitor your driving behavior and practicing safe driving habits. IntelliDrive offers crash detection just as Farmers does, but it doesn’t offer any kind of monthly rewards for focused driving.

Good to Know

When you drive, Signal tracks phone usage, hard braking, speeding, time of day, and mileage. Travelers uses similar criteria but also tracks smooth acceleration. Both apps can provide safe drivers with savings opportunities to reduce their overall cost, and both penalize high-risk drivers with higher premiums.

Farmers vs. Travelers: Which is the cheapest?

Travelers car insurance is generally cheaper than coverage from Farmers, according to Insurify rate data. Drivers with a clean record, past driving incidents, or a poor credit history will find that Travelers has more affordable premiums, on average.

But various factors can affect the car insurance rates you’ll pay with each insurer, including your age, driving history, ZIP code, credit score, vehicle type, and whether you own a home or rent.[3]

Getting quotes from both car insurance companies can help you determine how your personalized rates compare so you can find the lowest-cost coverage for your situation. You should also take a closer look at other factors, like customer experience reviews, available insurance services, and claims satisfaction.

Travelers: Cheapest for drivers with a clean driving record

Drivers with a clean record free of accidents or incidents typically pay the lowest rates. On average, Travelers offers cheaper coverage than Farmers for people with clean driving records.

Driver TypeFarmersTravelers
Clean driving record$113$90
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.

Travelers: Cheapest for drivers with a speeding ticket

Your insurer may view you as a higher-risk driver if you have a past speeding ticket on your record, which leads to higher rates. Travelers’ car insurance rates are cheaper for drivers with a ticket on their record.

Driver TypeFarmersTravelers
Drivers with a speeding ticket$131$107
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.

Travelers: Cheapest for teen drivers

Both Farmers and Travelers charge higher premiums for teen drivers, but Travelers offers less expensive rates on average for this high-risk group. Teenagers pay the highest rates by age group due to a lack of driving experience and a greater risk of having an accident.

The table below shows what you should expect to pay to insure young drivers.

Driver TypeFarmersTravelers
18-year-old$195$163
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.

Travelers: Cheapest for drivers with bad credit

Insurers charge higher rates for people with low credit scores because research has linked bad credit with a higher risk of making an insurance claim. Travelers’ car insurance rates for drivers with bad credit are lower than Farmers.

Check out the average premiums below from both insurers for drivers with bad credit.

Driver TypeFarmersTravelers
Drivers with bad credit$137$109
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.

Travelers: Cheapest for senior drivers

Farmers charges higher rates on average than Travelers for drivers of all ages, including seniors. Here are the typical liability rates older drivers pay with both insurance companies.

Driver TypeFarmersTravelers
Senior drivers$83$67
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.

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Compare coverages: Farmers vs. Travelers

Travelers and Farmers both offer the standard coverage options most auto insurers provide, including liability, personal injury protection, uninsured motorist, collision, and comprehensive coverage. The companies also offer a broad range of coverage options so you can customize your car insurance coverage levels.

Some important differences exist in their additional coverage offerings. For example, Travelers has more limited rideshare coverage than Farmers and doesn’t offer specialized protection for customized equipment added to your vehicle. Travelers provides gap insurance to pay off the difference between your loan and your car’s fair market value if you total your car, but Farmers doesn’t.

Compare common add-on coverage offerings below.

CoverageFarmersTravelers
RideshareYesColorado and Illinois only
Loss of useYesNo
Guaranteed valueYesNo
Customized equipmentYesNo
Gap insuranceNoYes
Named non-ownerNoYes
Roadside assistanceYesYes

Compare discounts: Farmers vs. Travelers

Travelers and Farmers both offer many opportunities to reduce premiums, including discounts for bundling an auto policy with homeowners insurance or life insurance. Both companies have more than a dozen discounts, but Farmers has more than Travelers.

Farmers has more discounts for vehicle safety and anti-theft features, and Travelers offers specialized savings for new cars. Farmers offers savings to vehicles with alternative fuel only in California, while Travelers provides discounts for electric vehicles in more locations.

You can compare discount offerings from the two companies below.

DiscountFarmersTravelers
Clean driving recordYesYes
Defensive driving courseYesYes
Multi-policyYesYes
Multi-carYesYes
Low mileageNoNo
Telematics (safe driving app)YesYes
Anti-theft deviceYesNo
New carNoYes
Military/affiliationYesNo
Good studentYesYes
LoyaltyNoYes
Auto payYesNo
Student away at schoolYesYes
HomeownerYesYes
Alternative fuelCA onlyYes

Farmers vs. Travelers FAQs

Before you buy a new auto policy, you should determine how much coverage you need and compare different rates to find the cheapest car insurance for your needs. The following information should help answer your remaining questions about coverage from Farmers and Travelers.

  • Is Farmers or Travelers cheaper?

    Travelers offers cheaper coverage on average than Farmers for both full-coverage and liability-only insurance policies. The average cost of car insurance from Travelers is $90 per month for liability coverage and $196 for full-coverage insurance. Coverage from Farmers costs $113 per month for liability insurance and $251 for full-coverage insurance.

    But you should compare quotes from several insurers to find the best rates because different insurance companies calculate premiums differently.

  • Is Travelers Insurance a reputable company?

    Travelers is a reputable company that’s been selling insurance for more than 165 years. The company earned an AM Best financial strength rating of A++ (Superior), which indicates a great ability to pay out your car insurance claim. And Travelers has received fewer customer complaints for a company of its size with the National Association of Insurance Commissioners.

  • Is Farmers Insurance good at paying claims?

    Yes. Farmers earned an AM Best financial strength rating of A (Excellent), meaning the company can pay claims. And the company had an average customer satisfaction ranking in the J.D. Power 2023 U.S. Auto Claims Satisfaction Study.[4]

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. J.D. Power. "Auto Insurance Customer Satisfaction Plummets as Rates Continue to Surge, J.D. Power Finds."
  2. National Association of Insurance Commissioners. "2022 Property and Casualty Market Share."
  3. Insurance Information Institute. "What determines the price of an auto insurance policy?."
  4. J.D. Power. "Auto Insurers Manage Customer Expectations as Repair Cycle Times Double in Two Years, J.D. Power Finds."
Christy Rakoczy
Christy Rakoczy

Christy Rakoczy has been a personal finance and insurance writer for over a decade. Her work has been published on USA Today, MSN, Yahoo Finance, Credit Karma, Forbes Advisor, and more. Christy has a JD from UCLA School of Law and previously worked as a data analyst for Blue Cross and as a paralegal studies instructor before transitioning to writing full time.

Katie Powers
Edited byKatie PowersAuto and Life Insurance Editor
Photo of an Insurify author
Katie PowersAuto and Life Insurance Editor
  • Licensed auto and home insurance agent

  • 3+ years experience in insurance and personal finance editing

Katie uses her knowledge and expertise as a licensed property and casualty agent in Massachusetts to help readers understand the complexities of insurance shopping.

Featured in

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Konstantin Halachev
Data reviewed byKonstantin HalachevVP of Engineering & Data Science
Headshot of Konstantin Halachev, VP of Engineering at Insurify
Konstantin HalachevVP of Engineering & Data Science
  • 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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