Shuman Roy is an entrepreneur, business owner, and musician. He started RoysNoys, LLC in 2013 as a music production and education service company. He also offers small business consulting and advisory services to help businesses get from start-up mode to turn-key operations. Shuman earned his M.B.A from the Stern School of Business in 2001 and has an undergraduate degree from Manhattan College in ...

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Joel Ohman is the CEO of a private equity-backed digital media company. He is a CERTIFIED FINANCIAL PLANNER™, author, angel investor, and serial entrepreneur who loves creating new things, whether books or businesses. He has also previously served as the founder and resident CFP® of a national insurance agency, Real Time Health Quotes. He has an MBA from the University of South Florida. Joel...

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Reviewed by Joel Ohman
Founder, CFP®

UPDATED: Aug 20, 2021

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The Truth in a Nutshell

  • Allstate has a nine percent market share, which is seven points higher than Farmers insurance.
  • Overall, Farmers insurance have cheaper car insurance rates.
  • Farmers insurance provides 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 auto insurance policy. As you read through this review, you’ll learn more about Allstate and Farmers 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.

`Allstate vs. Farmers Summary
SummaryAllstate Car Insurance StatsFarmers Car Insurance Stats
Year Founded19311928
Headquarters3075 Sanders Road Northbrook, IL 60062-71276301 Owensmouth Avenue Woodland Hills, CA 91367
Available in how many states?All StatesAll States
Direct Premiums$23.8 Billion$10.7 Billion
Market Share9%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.

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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.

Allstate vs. Farmers Car Insurance Rates by Driving Records
Driving Record SummaryAllstate Monthly Car Insurance RatesFarmers 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.

Allstate vs. Farmers Car Insurance Rates by Credit Scores
Credit Score SummaryAllstate Monthly Car Insurance RatesFarmers 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 insurance responds to rates based on age.

Allstate vs. Farmers Car Insurance Rates by Age
Age of DriversAllstate Monthly Car Insurance RatesFarmers 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.

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.

Comparing Allstate and Farmers Car Insurance Coverages
Allstate Car Insurance CoveragesFarmers Car Insurance Coverages
Collision coverageLiability
Comprehensive coverageCollision
Bodily Injury LiabilityComprehensive
Property Damage LiabilityUninsured / Underinsured Motorist
Uninsured & Underinsured Motorist CoverageMedical Payments
Rental Reimbursement CoveragePersonal Injury Protection (PIP)
Personal Umbrella PolicyTowing and roadside service
Personal Injury ProtectionRental Car Reimbursement
Sound System InsuranceRideshare
Roadside AssistanceLoss of Use
Classic Car InsuranceGuaranteed Value™
Travel Car Insurance to MexicoCustomized 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.

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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.

Comparing Allstate and Farmers Car Insurance Discounts
Car Insurance Discount NameAllstate Discount ValuesFarmers Discount Values
Accident Forgiveness30%N/A
Affinity group discountN/AVaries
Anti-lock Brake Discount10%Varies
Anti-Theft Device Discount10%Varies
Claims Free Renewal DiscountN/AVaries
Daytime Running Lights DiscountN/AVaries
Deductible discountVariesN/A
Defensive Driver Discount20%Varies
Driving Habits DiscountN/AVaries
Driving training discountVariesVaries
Early Quote Discount10%Varies
E-billing Discount10%Varies
Electronic Stability ControlN/AVaries
EV/Hybrid Discount10%5%
Family DiscountVariesVaries
Farm Vehicle Discount10%N/A
Good Driver Discount10%Varies
Good Payer Discount5%Varies
Good Student Discount10%Varies
Home Owner DiscountN/AVaries
Low Mileage Discount10%N/A
Loyalty DiscountN/AVaries
Mature driver discountN/AVaries
Military DiscountN/AVaries
Multiple Policy Discount10%10%
Multiple Vehicle Discount10%Varies
New Car Discount15%N/A
On Your Own DiscountN/AVaries
Organization DiscountN/AVaries
Paid in full discount10%Varies
Paperless documents discountVariesVaries
Passive Restraint Discount10%Varies
Preferred payment discount5%Varies
Prepay Discount10%Varies
Professional organization discountN/AVaries
Provider Switch DiscountN/AVaries
Senior Adult Discount5%Varies
Student Away at School Discount5%Varies
teenSMART Discount35%Varies
Utility Vehicle DiscountVariesN/A
VIN EtchingN/AVaries
Youth Driving DiscountN/AVaries
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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.

Comparing Pros and Cons of Allstate vs. Farmers
Allstate ProsAllstate ConsFarmers ProsFarmers Cons
Lots of discounts that are easy to qualify forAbove average pricing in most statesGet extra benefits through when you shop with an agentFarmers' online quote tool has a chance to miss deals
Cutting edge programs like pay-per-mile and rideshare coverageNot all programs are offered in all statesFarmers have special coverage options for antique and classic carsAbove average complaint index
Local agent service plus easy web and mobile accessOnline quoting will lead to agent solicitation by phoneRideshare Coverage for rideshare drivers
Solid financial ratingsConsumer 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.

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.

Allstate vs. Farmers Financial Strength and Credit Ratings
AgenciesAllstate RatingsFarmers Ratings
AM BestA+A
Better Business Bureau (BBB)A+A+
NAIC Complaint Index0.411.08
J.D. Power Overall Customer Satisfaction About AverageAbout Average
Consumer Reports8889
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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.

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How are the ratings for the mobile app?

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.