Farmers vs. Travelers Car Insurance Comparison [2024]
Travelers Insurance A.M. Best rating is (A++) indicating a stronger financial stability compared to Farmers Insurance A.M. Best rating (A). Farmers full coverage car insurance averages $374/mo, while Travelers full coverage insurance costs $384/mo. Find out how Farmers vs. Travelers car insurance compare in terms of customer satisfaction, discounts, and more.
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Laura D. Adams
Insurance & Finance Analyst
Laura Adams is one of the nation’s leading finance, insurance, and small business authorities. As an award-winning author, spokesperson, and host of the top-rated Money Girl podcast since 2008, millions of readers and listeners benefit from her practical advice. Her mission is to empower consumers to live healthy and rich lives by planning for the future and making smart money decisions. She rec...
Insurance & Finance Analyst
UPDATED: Nov 24, 2024
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Travelers vs. Farmers Car Insurance Comparison Summary
| Details | Farmers | Travelers |
|---|---|---|
| Year Founded | 1928 | 1864 |
| Headquarters | 3120 139th Ave., Suite 300 Bellevue, WA 98005 | 485 Lexington Ave., New York, NY, 10017 |
| Available in: | 50 states | 44 states |
| Direct Premiums Written | $6,357,987,000 | $2,904,392,000 |
| Market Share | 4.58% | 1.96 % |
How do the Travelers vs. Farmers car insurance companies compare? Let’s dive in.
Looking for cheap car insurance? Is customer service important to you when you choose a car insurer? There are metrics we can use to see how these insurers stack against each other, and it’s important to understand your car insurance policy.
Let’s take a closer look at Farmers vs. Travelers car insurance rates, financial ratings, and customer satisfaction to see which company might be best for you.
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Farmers vs. Travelers: Comparing Car Insurance Rates
Let’s take a look at car insurance rates for Farmers car insurance vs. insurance rates for Travelers car insurance.
Insurers determine your rates by a number of different factors, and each company weighs these factors a little differently. This is why you’ll be charged different rates from different insurers.
Let’s look at car insurance rates by state, demographic, credit history, and more.
Farmers vs. Travelers: Which is cheapest by state?
Your location is a huge factor for car insurers when they determine your rates. If you live in Iowa, you’ll have much cheaper rates than someone living in Michigan.
Let’s look at rates by state for Travelers and Farmers Signal review in the table below.
Farmers vs. Travelers Average Annual Car Insurance Rates by State
| States | Farmers Average Annual Rates | Travelers Average Annual Rates |
|---|---|---|
| Iowa | $2,435.72 | Data Not Available |
| Maine | $2,770.15 | $3,697.80 |
| Washington | $2,962.00 | $5,973.33 |
| Wyoming | $3,069.35 | $3,084.74 |
| North Dakota | $3,092.49 | $3,349.54 |
| Minnesota | $3,137.45 | Data Not Available |
| Idaho | $3,168.28 | $6,004.29 |
| Ohio | $3,423.01 | Data Not Available |
| Tennessee | $3,430.07 | $4,182.36 |
| Indiana | $3,437.55 | Data Not Available |
| Kansas | $3,703.77 | Data Not Available |
| Oregon | $3,753.52 | Data Not Available |
| South Dakota | $3,768.80 | $5,429.38 |
| Wisconsin | $3,777.49 | $3,226.29 |
| Montana | $3,907.55 | $2,499.76 |
| Utah | $3,907.99 | $3,393.75 |
| Nebraska | $3,997.29 | $4,341.43 |
| Oklahoma | $4,142.40 | $6,551.68 |
| Alabama | $4,185.80 | Data Not Available |
| Arkansas | $4,257.87 | $2,252.97 |
| Missouri | $4,312.19 | Data Not Available |
| New Mexico | $4,315.53 | $3,537.94 |
| Illinois | $4,605.20 | $8,773.97 |
| South Carolina | $4,691.85 | Data Not Available |
| Hawaii | $4,763.82 | Data Not Available |
| California | $4,998.78 | $3,729.32 |
| Arizona | $5,000.08 | Data Not Available |
| Colorado | $5,290.24 | $3,132.66 |
| Nevada | $5,595.56 | Data Not Available |
| New Jersey | $7,617.00 | Data Not Available |
| Michigan | $8,503.60 | Data Not Available |
| Alaska | Data Not Available | $4,254.49 |
| Connecticut | Data Not Available | Data Not Available |
| District of Columbia | Data Not Available | $5,360.41 |
| Delaware | Data Not Available | $4,578.79 |
| Florida | Data Not Available | $3,135.16 |
| Georgia | Data Not Available | Data Not Available |
| Kentucky | Data Not Available | $2,892.19 |
| Louisiana | Data Not Available | $7,842.47 |
| Maryland | Data Not Available | $6,909.45 |
| Massachusetts | Data Not Available | Data Not Available |
| Mississippi | Data Not Available | Data Not Available |
| North Carolina | Data Not Available | $2,738.52 |
| New Hampshire | Data Not Available | Data Not Available |
| New York | Data Not Available | Data Not Available |
| Pennsylvania | Data Not Available | Data Not Available |
| Rhode Island | Data Not Available | Data Not Available |
| Texas | Data Not Available | Data Not Available |
| Virginia | Data Not Available | Data Not Available |
| Vermont | Data Not Available | Data Not Available |
| West Virginia | Data Not Available | Data Not Available |
For the following states, we did not have rates from either car insurer.
- CT
- GA
- MA
- MI
- NH
- NY
- PA
- RI
- TX
- VA
- VT
- WV
However, Farmers does provide rates for more states than Travelers does, so points for transparency to them.
Farmers vs. Travelers: Which is cheapest by driving record?
Your driving record is the single biggest factor that you can control when it comes to your car insurance rates. How do car insurance rates by driving record compare?
Farmers vs. Travelers: Rates with One Speeding Ticket
A speeding ticket can ruin your day, and it can raise your rates. Take a look below to see just how much.
Farmers vs. Travelers Average Annual Car Insurance Rates with One Speeding Ticket
| Driving Record | Farmers Average Annual Rates | Travelers Average Annual Rates |
|---|---|---|
| Clean record | $3,460.60 | $3,447.69 |
| With One speeding violation | $4,079.01 | $4,260.80 |
What is the difference when it comes to Farmers Insurance vs. Travelers Insurance and speeding tickets?
Farmers Insurance may raise your rates around 18 percent for just one speeding ticket. Travelers is a bit more harsh on speeding, and they will increase your rates around 24 percent.
Farmers vs. Travelers : Rates with One Car Accident
Travelers may punish more harshly for a speeding ticket, but they’re not as tough as Farmers for an at-fault accident.
Farmers vs. Travelers Average Annual Car Insurance Rates with One Car Accident
| Driving Record | Farmers Average Annual Rates | Travelers Average Annual Rates |
|---|---|---|
| Clean record | $3,460.60 | $3,447.69 |
| With One accident | $4,518.73 | $4,289.74 |
Travelers can raise your rates 24 percent, but Farmers’ rates will go up by around 31 percent.
Farmers vs. Travelers: Rates with One DUI
Both companies are harshest with raising your rates after a DUI.
Farmers vs. Travelers Average Annual Car Insurance Rates Increase With One DUI
| Driving Record | Farmers Average Annual Rates | Travelers Average Annual Rates |
|---|---|---|
| Clean record | $3,460.60 | $3,447.69 |
| With One DUI | $4,718.75 | $5,741.40 |
Farmers raises rates on average 36 percent, but with Travelers rates will go up nearly twice that at 67 percent.
Farmers vs. Travelers: Which is cheapest by age and gender?
You probably already know that your age affects your car insurance rates, but your gender does too in most states. Take a look at the table to compare car insurance rates by age and gender.
Farmers vs. Travelers Average Annual Car Insurance Rates by Age and Gender
| Demographic | Farmers Average Annual Rates | Travelers Average Annual Rates |
|---|---|---|
| Married 60-year old female | $2,336.80 | $2,051.98 |
| Married 60-year old male | $2,448.39 | $2,074.41 |
| Married 35-year old female | $2,556.98 | $2,178.66 |
| Married 35-year old male | $2,557.75 | $2,199.51 |
| Single 25-year old female | $2,946.80 | $2,325.25 |
| Single 25-year old male | $3,041.44 | $2,491.21 |
| Single 17-year old female | $8,521.97 | $9,307.32 |
| Single 17-year old male | $9,144.04 | $12,850.91 |
Travelers is far more expensive for teen drivers, but cheaper for every other demographic. Compare teen driver car insurance rates here.
It’s important to note that it’s illegal in some states to factor your gender into your car insurance rates.
These states are:
- California
- Hawaii
- Massachussetts
- Montana
- North Carolina
- Pennsylvania
But for every other state, it’s still legal to charge more based on your gender.
Farmers vs. Travelers: Which is cheapest by credit score?
Your credit score can also influence your rates.
Farmers vs. Travelers Average Annual Annual Car Insurance Rates By Credit History
| Credit History | Farmers Average Annual Rates | Travelers Average Annual Rates |
|---|---|---|
| Good | $3,677.12 | $4,058.97 |
| Fair | $3,899.41 | $4,344.10 |
| Poor | $4,864.14 | $5,160.22 |
Travelers actually has higher rates overall for each of these categories, but it has a smaller increase for poor credit.
Farmers vs. Travelers: Which is cheapest by annual mileage?
If you find yourself queuing up a playlist for your drive, you may be paying more than your neighbor who works down the street.
Farmers vs. Travelers Average Annual Car Insurance Rates by Commute Length
| Commute And Annual Mileage | Farmers Average Annual Rates | Travelers Average Annual Rates |
|---|---|---|
| 10 miles commute 6,000 annual mileage | $4,179.32 | $4,399.85 |
| 25 miles commute 12,000 annual mileage | $4,209.22 | $4,469.96 |
Your Travelers rates may rise by around two percent if you drive a lot of miles, while Farmers raises them less than one percent.
Farmers vs. Travelers: Which is cheapest by car make and model?
The vehicle you have is also going to affect your rates. Think about it… if you get a 2020 Maserati Ghibli versus a 1993 Honda Accord, you really shouldn’t have the same coverage.
One vehicle costs far more than the other, and it will also cost way more to repair or replace. Newer and pricier cars typically cost more to insure.
Farmers vs. Travelers Average Annual Car Insurance Rates by Vehicle Make and Model
| Make and Model | Farmers Average Annual Rates | Travelers Average Annual Rates |
|---|---|---|
| 2015 Ford F-150: Lariat SuperCab with 2WD 6.5 foot bed and 2.7L V6 | $4,093.50 | $4,023.47 |
| 2015 Honda Civic Sedan: LX with 2.0L 4cyl and CVT | $4,405.21 | $4,420.37 |
| 2015 Toyota RAV4: XLE | $3,728.22 | $4,383.78 |
| 2018 Ford F-150: Lariat SuperCab with 2WD 6.5 foot bed and 2.7L V6 | $4,390.19 | $4,412.42 |
| 2018 Honda Civic Sedan: LX with 2.0L 4cyl and CVT | $4,779.51 | $4,661.22 |
| 2018 Toyota RAV4: XLE | $3,769.00 | $4,708.19 |
This is why it’s so important to shop around. Some insurance companies look at safety ratings, value, and loss ratios more than other categories.
Farmers vs. Travelers: Which is cheapest by coverage level?
Depending on your vehicle and driving needs, you may opt for a higher level of coverage. How do these companies compare by coverage type?
Farmers vs. Travelers Average Annual Car Insurance Rates by Coverage Level
| Car Insurance Coverage Level | Farmers Average Annual Rates | Travelers Average Annual Rates |
|---|---|---|
| High | $4,494.13 | $4,619.07 |
| Low | $3,922.47 | $4,223.63 |
| Medium | $4,166.22 | $4,462.02 |
Travelers has just a nine percent increase between a low and high level of coverage, so why not go for the higher level? Farmers isn’t much more expensive, with an increase of 15 percent.
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Farmers vs. Travelers: Ratings and Customer Satisfaction
If you’ve ever had to talk to a bad customer service agent, you know that type of frustration and probably don’t want to experience it again. That’s why it’s important to look at customer satisfaction ratings.
And if you want a company to actually pay out your claim, you’ll want to make sure they are financially stable enough to do so. Let’s look at how Farmers and Travelers compare.
Farmers vs. Travelers: What are their financial ratings?
How strong are Farmers and Travelers financially? Companies such as A.M. Best are there to objectively rank them. This video goes over A.M. Best ratings.
Along with A.M. Best, let’s take a closer look at Moody’s and Standard and Poor’s ratings for Travelers and Farmers below.
Farmers vs. Travelers Car Insurance Financial Ratings
| Financial Ratings Agencies | Farmers Financial Ratings | Travelers Financial Ratings |
|---|---|---|
| AM Best | A | A++ |
| S&P | A | AA |
| Moody's | A2 | Aa2 |
Travelers and Farmers both have great ratings, but Travelers edges out Farmers in every category here. In fact, Travelers has the highest possible A.M. Best rating.
Farmers vs. Travelers: How do customers rate them?
What are customers saying about Travelers and Farmers?
Farmers vs Travelers Car Insurance Customer Satisfaction Ratings
| Customer Satisfaction Ratings Agencies | Farmers Customer Satisfaction Ratings | Travelers Customer Satisfaction Ratings |
|---|---|---|
| JD Power | About Average | About Average |
| NAIC Complaint Index (1 being the market average) | 0.79 | 0.09 |
| Better Business Bureau | A+ | A+ |
Farmers and Travelers are pretty neck and neck on most of this, but Travelers does have a lower complain index (meaning their customers file fewer complaints), so they pull ahead by a hair.
Farmers vs. Travelers: What is their market share?
Farmers has a market share of 4.58 percent. Travelers is a bit smaller with a 1.96 percent market share.
Both companies are still going strong, with Travelers’ share increasing in recent years.
Farmers vs. Travelers: Car Insurance Coverage and Options
What types of coverage can you get with these two companies?
Farmers vs. Travelers: What are their coverage options?
Farmers Insurance offers many car insurance options, including traditional auto, as well as other coverages like home, life, business, renters, condo insurance, and more.
Travelers offers all traditional car insurance options as well. It also offers coverages such as gap insurance, roadside assistance, rental coverage, new car replacement, and accident forgiveness.
Usage-Based Insurance Programs
Travelers offers the IntelliDrive app to monitor your driving habits.
Farmers offers the Signal® app, which can save you up to 15 percent.
Farmers vs. Travelers: What discounts do they offer?
The easiest way to save money on your car insurance premium is to sign up for every discount you can get. Let’s see which discounts are offered by Travelers and Farmers insurance companies.
Farmers Vs Travelers Car Insurance Discounts
| Discounts Available | Farmers Car Insurance Discounts | Travelers Car Insurance Discounts |
|---|---|---|
| Adaptive Headlights | x | |
| Anti-lock Brakes | x | x |
| Anti-Theft | x | x |
| Daytime Running Lights | x | x |
| Electronic Stability Control | x | |
| Utility Vehicle | x | |
| Vehicle Recovery | x | x |
| VIN Etching | x | x |
| Newer Vehicle | x | x |
| Green Vehicle | x | x |
| Claim Free | x | x |
| Continuous Coverage | x | x |
| Defensive Driver | x | x |
| Distant Student | x | x |
| Driver's Ed | x | x |
| Driving Device/App | x | |
| Early Signing | x | x |
| Family Plan | x | |
| Farm Vehicle | x | |
| Federal Employee | x | |
| Full Payment | x | x |
| Further Education | x | |
| Garaging/Storing | x | x |
| Good Student | x | x |
| Homeowner | x | x |
| Low Mileage | x | x |
| Membership/Group | x | |
| Military | x | |
| Multiple Policies | x | x |
| Multiple Vehicles | x | x |
| Occupation | x | x |
| On Time Payments | x | |
| Paperless Documents | x | |
| Paperless/Auto Billing | x | x |
| Passive Restraint | x | x |
| Safe Driver | x | x |
| Senior Driver | x | |
| Switching Provider | x |
Travelers offers 28 car insurance discounts to its drivers. Farmers gets the upper hand in this category, though. They offer 34 car insurance discounts.
Farmers vs. Travelers: Which company is the best?
How do the Travelers vs. Farmers car insurance companies compare? Now that we’ve compared these two companies, which is best? We’ve looked at Farmers’ and Travelers’ car insurance rates, financial ratings, and customer satisfaction.
Truly, this depends on your needs. Travelers has better financial ratings, and it has a lower NAIC complaint index. But both companies fair well in the other customer service metrics. Farmers offers more car insurance discounts to its drivers.
It’s always smart to check with multiple car insurance companies when you’re shopping for coverage. Before you decide to buy car insuance, get more than just Travelers vs. Farmers car insurance quotes.
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Frequently Asked Questions
How do Farmers and Travelers car insurance companies compare?
Farmers and Travelers car insurance companies differ in terms of financial ratings, customer satisfaction, and available discounts. It’s recommended to compare multiple quotes to find the best fit.
Is it important to consider customer service when choosing a car insurer?
Yes, customer service is an important factor to consider when selecting a car insurance provider. Both Farmers and Travelers have good ratings for customer service.
What factors determine car insurance rates for Farmers and Travelers?
Car insurance rates for Farmers and Travelers are determined differently by each company. Factors such as location, driving record, age, gender, credit score, mileage, and the type of vehicle can influence the rates.
How do Farmers and Travelers compare in terms of car insurance rates?
The car insurance rates for Farmers and Travelers can vary depending on factors like state, driving record, and coverage level. It’s best to compare quotes from both companies to find the most affordable option.
What are the financial ratings of Farmers and Travelers insurance companies?
Travelers insurance company has stronger financial ratings compared to Farmers. Travelers has the highest possible A.M. Best rating, indicating its financial stability.