Farmers vs. Travelers: Best Auto Insurance for 2021
When comparing Farmers vs. Travelers, Travelers auto insurance is the cheapest in most situations. Both Travelers and Farmers insurance have similar financial, customer satisfaction, and BBB ratings. Make sure to consider the discounts available when comparing Travelers vs. Farmers auto insurance rates.
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UPDATED: Apr 29, 2021
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- Farmers auto insurance rates are more expensive on average than Travelers
- Both companies have great financial ratings but average customer satisfaction ratings
- Both Farmers and Travelers offer numerous discounts to lower rates
Since you have so many automobile insurance options, compare them head to head to narrow down your choices. We'll look at Farmers vs. Travelers auto insurance companies to see if either meets your needs.
To see if either is right for you, compare rates, discounts, financial ratings, and customer satisfaction.
Before you read on to compare Farmers vs. Travelers, see what you could save right now. Enter your ZIP code to receive free quotes from multiple companies near you.
Is Farmers auto insurance or Travelers auto insurance cheaper?
There are many different factors that are used to determine your auto insurance rates. Common factors used are your age, gender, marital status, driving record, and credit history.
All of these factors combine to determine how affordable Farmers vs. Travelers auto insurance is for you. However, rates will be different for every driver.
First, we will look at Farmers vs. Travelers auto insurance rates based on your age, gender, and marital status.
|Age, Gender, and Marital Status||Farmers Average Annual Rates||Travelers Average Annual Rates|
|Single 17-year-old female||$8,666.24||$7,586.79|
|Single 17-year-old male||$9,202.06||$11,904.09|
|Single 25-year-old female||$2,672.81||$2,059.71|
|Single 25-year old male||$2,791.21||$2,165.03|
|Married 35-year-old female||$2,316.82||$1,899.93|
|Married 35-year-old male||$2,306.44||$1,914.91|
|Married 60-year-old female||$2,117.42||$1,806.15|
|Married 60-year-old male||$2,179.61||$1,882.23|
Travelers insurance is cheaper for all demographics except 17-year-old males.
One of the most important factors looked at is your driving record. If you have accidents, tickets, or DUIs, your auto insurance rates will be much higher.
|Driving Record||Farmers Average Annual Rates||Travelers Average Annual Rates|
|With 1 accident||$4,518.73||$4,289.74|
|With 1 DUI||$4,718.75||$5,741.40|
|With 1 speeding violation||$4,079.01||$4,260.80|
Farmers is less expensive if you have a speeding ticket or DUI. However, Travelers is cheaper if you have a clean driving record or one accident.
It might surprise you to learn that your credit history can affect your car insurance rates. Insurance companies believe if you have a better credit score, you will be less likely to file a claim and more willing to pay for damages yourself.
|Credit History||Farmers Average Annual Rates||Travelers Average Annual Rates|
Farmers insurance is cheaper than Travelers based on credit score.
It's also important to note that some states, such as California, don't allow auto insurance companies to use your credit score when calculating your rates.
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Does Farmers or Travelers have better auto insurance discounts?
Car insurance discounts are a great way to lower your rates. Most companies offer you discounts based on a variety of things, including how many cars you have, your occupation, and even your car’s safety features.
Travelers vs. Farmers auto insurance companies also offer discounts, as shown in this table. If the discount amount is known, it is added. See which company can offer you the most discounts.
|Auto Insurance Discounts||Farmers (%)||Travelers (%)|
|Daytime Running Lights||x||x|
|Electronic Stability Control||x||N/A|
Although both companies offer a lot of the same discounts, there are some differences. For example, Farmers offers a senior driver discount and Travelers doesn't. On the other hand, Travelers offers a discount for on-time payments and Farmers does not.
When comparing Farmers vs. Travelers auto insurance quotes, take into account discounts you may be offered.
How do Farmers and Travelers compare for financial strength and customer satisfaction?
A.M. Best ranks companies based on financial stability. Farmers insurance received an A rating, meaning they have an excellent ability to meet their obligations. Travelers received an A+ rating showing they have a superior ability to meet their obligations.
Both Farmers and Travelers received A+ ratings from the Better Business Bureau, although Farmers is accredited and Travelers is not.
Both companies were also ranked by J.D. Power for customer satisfaction on factors like what is offered, billing, price, and claims. Farmers and Travelers both ranked about average.
The companies have other similarities as well. They each offer easy-to-use websites and mobile apps that allow customers access to their accounts. You can also get quotes and compare Farmers vs. Travelers home insurance as well as other services.
Both companies also offer additional services such as roadside assistance.
Deciding whether to buy Farmers vs. Travelers auto insurance can be a difficult decision. Weigh the pros and cons for both Farmers and Travelers to determine if either company is right for you.
Now that you’ve compared Farmers vs. Travelers auto insurance, enter your ZIP code to compare quotes from multiple companies near you.