Allstate vs Farmers

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Allstate was founded in 1931. As of 2020, Allstate is the fourth largest underwriter of private passenger car insurance policies, with almost 10% of the total market share. Allstate is well known for its auto insurance coverage, but it also sells more than a dozen other types of insurance, including life, business, boat and pet insurance. The company has sold 113 million policies to date and has agents in all 50 states.

Farmers Insurance is the seventh largest car insurance company in the country, with 4% of the total market share. The company was founded in 1928 and currently insures more than 19 million individuals across all 50 states. Farmers sells nine life insurance products, as well as retirement and investment solutions. As of 2020, Farmers had more than 48,000 insurance agents around the country.

Allstate vs Farmers: car insurance rates comparison

When comparing car insurance companies, it can be helpful to look at each provider’s average rates and third-party ratings. In the table below, we included a side-by-side comparison of average premiums, financial strength scores and overall customer satisfaction ratings for Allstate vs. Farmers:

Car insurance company Bankrate Score AM Best J.D. Power Average annual premium for minimum coverage Average annual premium for full coverage
Allstate 3.6 A+ 876/1,000 $696 $1,921
Farmers 3.8 A- 872/1,000 $808 $2,000

Rates by credit score

In every state except Hawaii, California, Washington and Massachusetts, car insurance companies will use your credit score to determine your premium. Farmers offers drivers with poor or average credit cheaper rates than Allstate does. Here are the average annual rates from Farmers vs. Allstate based on credit score:

Car insurance company Poor Average Good Excellent
Allstate $3,157 $2,312 $1,921 $1,989
Farmers $2,813 $1,987 $2,000 $1,694

Rates by age

Young drivers pay the most expensive car insurance premiums. Rates are highest among 18-year-olds, and start to decrease once a driver reaches their mid-twenties. Rates for Allstate vs Farmers tend to be pretty consistent, averaging about the same across both companies. Here are the average annual rates from Allstate and Farmers for drivers based on age:

Car insurance company Age 16* Age 18 Age 25 Age 30 Age 40 Age 60
Allstate $2,459 $6,152 $2,629 $2,317 $1,921 $1,986
Farmers $2,685 $6,488 $2,254 $2,023 $2,000 $1,700

*16 year old cost when added to parents’ policy, 18-year-old renter

Rates by driving record

Allstate and Farmers have comparable rates for drivers with a clean record, one speeding ticket and one accident. However, drivers with one DUI conviction will pay a much higher rate with Allstate. Below are the average annual rates from Farmers vs. Allstate based on driving record:

Car insurance company Clean driving record Speeding ticket Accident DUI conviction
Allstate $1,921 $2,519 $2,752 $3,763
Farmers $2,000 $2,378 $2,647 $2,760

Allstate vs Farmers: discounts

Allstate and Farmers both offer a range of car insurance discounts that can help policyholders save money on their premium. However, each company offers different discounts. Additionally we found that Allstate offers more savings opportunities than Farmers.

On its website, Farmers mentions that it offers undisclosed state-specific discounts, so we recommend reaching out to the company to find out what savings are available where you live. Here are some of the unique car insurance discounts you can get from Allstate vs. Farmers:

Allstate

  • New car discount — With Allstate’s new car discount, the company may give you a lower car insurance premium if your vehicle is the latest model year or one year older, and you are the first owner.
  • Responsible payer discount — Drivers who did not receive a cancellation notice for non-payment within the past year may get rewarded with a cheaper rate.
  • Smart student discount — Unmarried drivers under 25 can save money on their insurance policy if they maintain a ‘B-’ average or 2.7 GPA, complete the teenSMART driver education program or attend school at least 100 miles from where their car is stored.

Farmers

  • Multi-policy discount — If you bundle your Farmers car insurance policy with another type of coverage, like home or renters insurance, you can qualify for a lower premium.
  • Claims-free discount — Drivers who have no prior insurance claims on their record can save money with the claims-free discount.
  • Signal program — If you enroll in Farmers’ safe driver discount program, called Signal, you can save up to 20% on your premium, plus another 10% if you insure a driver under 25 years old.

Allstate vs Farmers: online and mobile experience comparison

In terms of online and mobile experience, Allstate and Farmers are comparable. Both companies provide online quotes and online claims. Through a series of blog articles and FAQ sections, Allstate and Farmers provide helpful information for drivers who may be buying insurance for the first time, or need help deciding what type of insurance to get.

Allstate and Farmers policyholders can also use the free mobile apps for iPhone and Android devices to manage their coverage. Here is a more in-depth Allstate vs. Farmers comparison of each company’s mobile app:

Allstate

  • App Store (4.8 stars) — Allstate’s iOS mobile app has excellent reviews on the App Store. You can access your ID cards, file a claim, pay your bills, request roadside assistance and contact your agent. If you are enrolled in the Drivewise safe driver discount program, you can view your current progress in the mobile app. Additionally, you can access the Allstate Digital Locker, which is a digital home inventory tool.
  • Google Play (3.1 stars) — Allstate’s Android app has identical features to the iPhone app. However, the Android version has concerning reviews. Many users have said that the app crashes and freezes unexpectedly, particularly when using the Drivewise feature.

Farmers

  • App Store (4.8 stars) — Farmers’ iPhone app is highly rated. You can make payments, view your ID cards, report a claim, get roadside assistance, get connected to your agent and file claims right from your phone. You also have the option to start a new insurance quote.
  • Google Play (4.8 stars) — The Farmers app for Android users has all the same features that the iOS app includes. Overall, users have positive things to say about the app, including an easy-to-use interface, fast payment processing and frequent updates.

Frequently asked questions

Is car insurance legally required?

Car insurance is a legal requirement in every state except New Hampshire and Virginia. Most states require drivers to carry personal liability insurance, and if you live in a state with no-fault laws, you will also have to purchase personal injury protection (PIP).

How much does car insurance cost?

The average cost of car insurance is dependent on personal factors like your state and ZIP code, your age, your credit score, your driving record and the car insurance carrier that underwrites your policy. In the United States, the average full coverage car insurance premium is $1,674 per year.

What is the best car insurance company?

There are hundreds of auto insurance companies on the market, and the best company is different for every driver. To find the best car insurance company for you, we recommend shopping around and comparing providers using your personal criteria.

Methodology

Bankrate utilizes Quadrant Information Services to analyze 2021 rates for all ZIP codes and carriers in all 50 states and Washington, D.C. Quoted rates are based on a 40-year-old male and female driver with a clean driving record, good credit and the following full coverage limits:

  • $100,000 bodily injury liability per person
  • $300,000 bodily injury liability per accident
  • $50,000 property damage liability per accident
  • $100,000 uninsured motorist bodily injury per person
  • $300,000 uninsured motorist bodily injury per accident
  • $500 collision deductible
  • $500 comprehensive deductible

To determine minimum coverage limits, Bankrate used minimum coverages that meet each state’s requirements. Our base profile drivers own a 2019 Toyota Camry, commute five days a week and drive 12,000 miles annually.

These are sample rates and should only be used for comparative purposes.

Credit: Rates were calculated based on the following insurance credit tiers assigned to our drivers: “poor, average, good (base), and excellent.” Insurance credit tiers factor in your official credit scores but are not dependent on that variable alone. The following states do not allow credit to be a factor in determining auto insurance rates: CA, HI, MA

Age: Rates were calculated by evaluating our base profile with the ages 18-60 (base: 40 years) applied. 16-year-old rates were factored as the added cost to their parents’ policy; 18-year-old rates were calculated as drivers who rent their primary residence.

Incident: Rates were calculated by evaluating our base profile with the following incidents applied: clean record (base), at-fault accident, single speeding ticket, single DUI conviction (BAC of >= .08) and lapse in coverage.

Written by
Elizabeth Rivelli
Insurance Contributor
Elizabeth has two years of experience writing for insurance domains such as Bankrate.com, The Simple Dollar, Coverage.com and NextAdvisor, among others. In addition to auto insurance, Elizabeth regularly writes about home insurance, renters insurance and life insurance. She also covers industry trends and general insurance education.
Edited by
Insurance Editor