Allstate was founded in 1931. As of 2021, Allstate is the fourth-largest underwriter of private passenger car insurance policies, with almost 10.4% 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 and financial investment products. 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 4.8% of the total market share. Founded in 1928, the company now has more than 19 million policies across all fifty states. In addition to auto insurance, Farmers sells home insurance and various 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.
To give a quick impression of these companies as you shop for car insurance, our editorial team calculated a Bankrate Score for each one based on how well it performed in each category, with an overall score of 5 out of 5:
|Car insurance company||Bankrate Score||AM Best||J.D. Power||Average annual premium for minimum coverage||Average annual premium for full coverage|
Rates by credit score
In every state except Hawaii, California, Michigan and Massachusetts, car insurance companies will use your credit score to determine your premium. Farmers offers drivers with poor and average credit scores cheaper rates on average than Allstate does.
Here are the average annual rates from Farmers vs. Allstate based on credit score:
|Car insurance company||Poor||Average||Good||Excellent|
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, except in Hawaii and Massachusetts, where age is not permitted as an insurance rating factor. 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|
*16 year old cost when added to parents’ policy, 18-year-old renter on their own policy
Rates by driving record
Allstate and Farmers have comparable rates for drivers with a clean record, one speeding ticket conviction and one at-fault 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 conviction||At-fault accident||DUI conviction|
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:
- 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.
- 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:
- 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 (3.9 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.
- 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 (4.6 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
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. Four states prohibit the use of credit-based insurance scores as a rating factor in determining auto insurance rates: California, Hawaii, Massachusetts and Michigan.
Age: Rates were calculated by evaluating our base profile with the ages 18-60 (base: 40 years) applied. Depending on age, drivers may be a renter or homeowner. Age is not a contributing rating factor in Hawaii and Massachusetts due to state regulations.
Incident: Rates were calculated by evaluating our base profile with the following incidents applied: clean record (base), at-fault accident, single speeding ticket conviction and single DUI conviction.