Compare Allstate vs. Farmers Car Insurance [2021]
Allstate and Farmers are two of the top companies in the United States. Our Allstate vs. Farmers car insurance guide can compare the advantages and disadvantages of both companies. Although Farmers carries cheaper auto insurance rates, Allstate has a better AM Best rating. Compare Allstate vs. Farmers car insurance quotes and coverages to get the best policy.
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UPDATED: Feb 9, 2021
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- Allstate has a nine percent market share, which is seven points higher than Farmers.
- Overall, Farmers have cheaper car insurance rates.
- Farmers provide more coverage options, but Allstate has better financial strength ratings.
You’ve narrowed your car insurance shopping to Allstate and Farmers – two companies that are in the top ten list for car insurance. But why is insurance so expensive at Allstate and Travelers?
Our Allstate vs. Farmers car insurance guide explains what you need to know before you buy your policy. As you read through this review, you’ll learn more about Allstate and Farmers car insurance rates, coverages, discounts, and third-party ratings.
If you decide that you don’t want to see Allstate vs. Farmers car insurance quotes, enter your ZIP code in the free comparison tool above to compare multiple companies in your local area.
Continue reading to learn more about Allstate vs. Farmers car insurance rates and other details that will help get a reliable policy.
Allstate vs. Farmers Car Insurance: Which company is the cheapest?
There’s more to an auto insurance company than cheap rates. Sometimes the most affordable way to go isn’t the best way.
Therefore, the best company isn’t always measured by cost-efficiency, but it is gauged on performance. Let’s compare Allstate Insurance and Farmers Insurance and see which company earns more money and has a larger share in the auto insurance industry.
Summary | Allstate Car Insurance Stats | Farmers Car Insurance Stats |
---|---|---|
Year Founded | 1931 | 1928 |
Headquarters | 3075 Sanders Road Northbrook, IL 60062-7127 | 6301 Owensmouth Avenue Woodland Hills, CA 91367 |
Available in how many states? | All States | All States |
Direct Premiums | $23.8 Billion | $10.7 Billion |
Market Share | 9% | 4% |
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Allstate isn’t the largest company in the car insurance industry, but it earns $13.1 billion more than Farmers. Also, Allstate has a larger market share than Farmers.
Which is cheapest by driving record?
A driving record is a significant factor when calculating car insurance. Car insurance companies look back at least three years to see if you have any infractions on your driving record.
Let’s see how Allstate and Farmers determine auto insurance costs based on driving records.
Driving Record Summary | Allstate Monthly Car Insurance Rates | Farmers Monthly Car Insurance Rates |
---|---|---|
Clean Driving Record | $318 | $288 |
With One Speeding Violation | $374 | $340 |
With One Accident | $416 | $377 |
With One DUI | $522 | $393 |
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Farmers provide cheaper car insurance rates based on driving records. A clean driving record is a way to go if you want an Allstate policy.
If you happen to have some traffic violations on your driving record and plan to buy Allstate car insurance, read our Allstate Value Plan Review for details on how you can save.
Which is cheapest by credit score?
Did you know your credit score can determine your car insurance rate? According to Experian, auto insurance companies correlate your credit score to risk.
Therefore, a good credit score produces more affordable rates, while a poor credit score generates higher costs. Why? Car insurance providers say customers with poor credit are more likely to file a claim than those with good credit.
How does credit affect Allstate and Farmers auto insurance rates? Let’s examine the estimated monthly premiums.
Credit Score Summary | Allstate Monthly Car Insurance Rates | Farmers Monthly Car Insurance Rates |
---|---|---|
Good Credit (670-739) | $322 | $306 |
Fair Credit Score (580-669) | $382 | $325 |
Poor Credit Score (300-579) | $541 | $405 |
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Farmers car insurance company is more lenient on its customers regardless of their credit score. Also, Allstate has a costly increase in credit scores.
Which is cheapest by age?
If you’re a younger driver, your rates will be higher than the average monthly rates you’ve seen in the previous sections. Why? Young drivers, such as teens, are less experienced drivers and take more risks behind the wheel.
However, each auto insurance provider evaluates costs differently. Let’s examine how Allstate and Farmers car insurance responds to rates based on age.
Age of Drivers | Allstate Monthly Car Insurance Rates | Farmers Monthly Car Insurance Rates |
---|---|---|
60-Year-Old Driver | $246 | $199 |
35-Year-Old Driver | $262 | $213 |
25-Year-Old Driver | $291 | $250 |
17-Year-Old Driver | $830 | $736 |
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Allstate is the more expensive company here and charges nearly $100 more for auto insurance. However, you can save money on car insurance if you qualify for discounts targeted toward young drivers.
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Allstate vs. Farmers Car Insurance Coverages
The cost of car insurance doesn’t always reflect coverage options. Before you buy car insurance, take a moment and see what Allstate and Farmers have to offer. We happen to have a list of auto insurance coverages you can get from both companies.
Allstate Car Insurance Coverages | Farmers Car Insurance Coverages |
---|---|
Collision coverage | Liability |
Comprehensive coverage | Collision |
Bodily Injury Liability | Comprehensive |
Property Damage Liability | Uninsured / Underinsured Motorist |
Uninsured & Underinsured Motorist Coverage | Medical Payments |
Rental Reimbursement Coverage | Personal Injury Protection (PIP) |
Personal Umbrella Policy | Towing and roadside service |
Personal Injury Protection | Rental Car Reimbursement |
Sound System Insurance | Rideshare |
Roadside Assistance | Loss of Use |
Classic Car Insurance | Guaranteed Value™ |
Travel Car Insurance to Mexico | Customized Equipment |
Personal Umbrella | |
Glass Deductible Buyback | |
Full Windshield and Glass Coverage | |
Spare Parts Coverage | |
Original Equipment Manufacturer (OEM) | |
New Car Replacement Coverage | |
Accident Forgiveness | |
Classic/Antique Car Coverage | |
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Allstate has fewer coverage options than Farmers. The coverage missing at Farmers is travel insurance.
Allstate vs. Farmers Car Insurance: Who has more discounts?
We’ve seen Allstate and Farmers go head-to-head on auto insurance rates and coverage, but what about discounts? Let’s look at the available deals at both companies.
Car Insurance Discount Name | Allstate Discount Values | Farmers Discount Values |
---|---|---|
Accident Forgiveness | 30% | N/A |
Affinity group discount | N/A | Varies |
Anti-lock Brake Discount | 10% | Varies |
Anti-Theft Device Discount | 10% | Varies |
Claims Free Renewal Discount | N/A | Varies |
Daytime Running Lights Discount | N/A | Varies |
Deductible discount | Varies | N/A |
Defensive Driver Discount | 20% | Varies |
Driving Habits Discount | N/A | Varies |
Driving training discount | Varies | Varies |
Early Quote Discount | 10% | Varies |
E-billing Discount | 10% | Varies |
Electronic Stability Control | N/A | Varies |
EV/Hybrid Discount | 10% | 5% |
Family Discount | Varies | Varies |
Farm Vehicle Discount | 10% | N/A |
Good Driver Discount | 10% | Varies |
Good Payer Discount | 5% | Varies |
Good Student Discount | 10% | Varies |
Home Owner Discount | N/A | Varies |
Low Mileage Discount | 10% | N/A |
Loyalty Discount | N/A | Varies |
Mature driver discount | N/A | Varies |
Military Discount | N/A | Varies |
Multiple Policy Discount | 10% | 10% |
Multiple Vehicle Discount | 10% | Varies |
New Car Discount | 15% | N/A |
On Your Own Discount | N/A | Varies |
Organization Discount | N/A | Varies |
Paid in full discount | 10% | Varies |
Paperless documents discount | Varies | Varies |
Passive Restraint Discount | 10% | Varies |
Preferred payment discount | 5% | Varies |
Prepay Discount | 10% | Varies |
Professional organization discount | N/A | Varies |
Provider Switch Discount | N/A | Varies |
Senior Adult Discount | 5% | Varies |
Student Away at School Discount | 5% | Varies |
teenSMART Discount | 35% | Varies |
Utility Vehicle Discount | Varies | N/A |
VIN Etching | N/A | Varies |
Youth Driving Discount | N/A | Varies |
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Once again, Farmers insurance company is ahead of Allstate by a few discounts. However, Allstate has a clearer view of how much you can save. Farmers’ values all depend on different circumstances.
Allstate vs. Farmers Car Insurance Pros and Cons
Every company has strengths and weaknesses. You’ve probably found a few from Allstate and Farmers before and during our Allstate vs. Farmers auto insurance review.
Check out the pros and cons summary below to see the advantages and disadvantages of Allstate and Farmers.
Allstate Pros | Allstate Cons | Farmers Pros | Farmers Cons |
---|---|---|---|
Lots of discounts that are easy to qualify for | Above average pricing in most states | Get extra benefits through when you shop with an agent | Farmers' online quote tool has a chance to miss deals |
Cutting edge programs like pay-per-mile and rideshare coverage | Not all programs are offered in all states | Farmers have special coverage options for antique and classic cars | Above average complaint index |
Local agent service plus easy web and mobile access | Online quoting will lead to agent solicitation by phone | Rideshare Coverage for rideshare drivers | |
Solid financial ratings | Consumer satisfaction ratings are below average | ||
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Allstate’s pros and cons are balanced, but Farmers has more pros than cons. Does it make either company good or bad? No. The pros and cons show areas where each company performs well and areas where each company can improve.
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Financial Strength and Credit Ratings
Let’s take it a step further. Financial strength and credit ratings are compiled scores recorded a year before the current year. The data measures how companies like Allstate and Farmers manage money and customer satisfaction.
If you’re curious about how well Allstate and Farmers perform with customers and finances, check out the financial strength and credit ratings.
Agencies | Allstate Ratings | Farmers Ratings |
---|---|---|
AM Best | A+ | A |
Better Business Bureau (BBB) | A+ | A+ |
Moody's | A3 | A2 |
S&P | AA- | A |
NAIC Complaint Index | 0.41 | 1.08 |
J.D. Power Overall Customer Satisfaction | About Average | About Average |
Consumer Reports | 88 | 89 |
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AM Best, Moody’s, and S&P are rating agencies that focus on a company’s financial strength. Based on their scores, Allstate’s AM Best and S&P ratings are much more substantial. However, Farmers’ Moody’s ratings are better.
The BBB, NAIC, J.D. Power, and Consumer Reports focus on customer satisfaction. When we compare Allstate and Farmers, we come to a stalemate.
How so? Allstate and Farmers have the same BBB rating and J.D. Power rating, but Allstate has a better NAIC Complaint Index, and Farmers has a better Consumer Reports score.
Mobile App Ratings
Smartphones are essential to our daily lives now. Therefore, auto insurance companies allow customers to manage their policies 24/7 using mobile apps.
With a mobile app, you can use your Farmers login or Allstate login to pay Farmers’ premiums or manage Allstate claims. These are just examples of what you can do inside the app.
However, usability is crucial. Mobile apps that are difficult to use in a time of crisis is frustrating. Before you download an insurance app from either company, check out the mobile app ratings from iOS and Android.
- Allstate
- Apple App Store Rating: 5 stars
- Google Play Store Rating: 4 stars
- Farmers
- Apple App Store Rating: 5 stars
- Google Play Store Rating: 4 stars
We’ve come to another draw. Both companies have a reliable history with mobile apps. If you happen to purchase a policy at either company, be sure to create a Farmer Insurance login or Allstate Insurance login after buying a policy.
Allstate vs. Farmers Car Insurance: The Bottom Line
Allstate and Farmers are part of the top 10 car insurance companies in the United States. Farmers Insurance Group is the more affordable company, but Allstate has a much larger market share. Ultimately, you should choose the company that works best for you.
If Allstate vs. Farmers car insurance quotes aren’t what you need, you can always check out companies in your local area by entering your ZIP code in the free online quote tool below.