Farmers vs. Travelers Car Insurance: Expert Recommended (2023)

Our Farmers vs. Travelers car insurance guide compares two great companies' car insurance rates, coverage, discounts, and third-party ratings. Although Farmers has a bigger market share, Travelers car insurance company has better ratings and cheaper rates. Your rates could vary. Shop around and compare to find the best rates.

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D. Gilson, PhD

Professor & Published Author

D. Gilson is a writer and author of essays, poetry, and scholarship that explore the relationship between popular culture, literature, sexuality, and memoir. His latest book is Jesus Freak, with Will Stockton, part of Bloomsbury’s 33 1/3 Series. His other books include I Will Say This Exactly One Time and Crush. His first chapbook, Catch & Release, won the 2012 Robin Becker Prize from Seve...

Professor & Published Author

Leslie Kasperowicz

Farmers CSR for 4 Years

Leslie Kasperowicz holds a BA in Social Sciences from the University of Winnipeg. She spent several years as a Farmers Insurance CSR, gaining a solid understanding of insurance products including home, life, auto, and commercial and working directly with insurance customers to understand their needs. She has since used that knowledge in her more than ten years as a writer, largely in the insuranc...

Farmers CSR for 4 Years

UPDATED: May 9, 2023

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The Highlights

  • Farmers Insurance and Travelers Insurance make billions per year.
  • Overall, Travelers has cheaper car insurance.
  • You can bundle your homeowners or renters insurance to save money on car insurance premiums.
  • Farmers car insurance company is more expensive but carries more car insurance coverage options.
  • Create a Farmers or Travelers Insurance login to access your policy on your smartphone or desktop computer.

If you want to know how you can save money at Farmers or Travelers car insurance company, read our Farmers vs. Travelers car insurance guide.

We’ll explain everything you need to know about how to compare car insurance, coverage options, discounts, and third-party ratings of two excellent car insurance companies.

Try entering your ZIP code in the free comparison tool above to compare multiple companies in your local area if you’re not interested in Farmers vs. Travelers car insurance quotes. Read on to learn more about Farmers vs. Travelers car insurance rates, coverages, and much more.

Farmers vs. Travelers Car Insurance: Which company is the cheapest?

You may have gotten an idea about which company is cheaper through the internet or word-of-mouth reviews.

Before you talk about how much you can spend on Farmers and Travelers auto insurance each month, let’s look at our contenders and see how they match up.

Farmers vs. Travelers Summary
SummaryFarmers Car Insurance StatsTravelers Car Insurance Stats
Year Founded19281853
Headquarters6301 Owensmouth Avenue Woodland Hills, CA 91367One Tower Square Hartford, CT 06183
Available in how many states?All StatesAll States
Direct Premiums$10.7 Billion$5.5 Billion
Market Share4%2%

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Both companies provide widespread coverage, but Farmers has an earning and market share advantage. Don’t count out Travelers just yet. Keep reading to see how these two companies compare across the United States.

To get a closer look at both companies, check out our Farmers Insurance Group review and Travelers car insurance review.

Which is cheapest by state?

A significant factor when determining auto insurance is location. Different statistics, such as high crime rates and crash data, can affect your rates.

So what does Farmers and Travelers car insurance look like when you compare them by state. Let’s review the effects below. Type in your state to see if there are available rates.

Average Monthly Farmers vs. Travelers Car Insurance Rates by State
StatesAverage Monthly Farmers Car Insurance RatesAverage Monthly Travelers Car Insurance Rates
AlaskaData Not AvailableData Not Available
Colorado$441Data Not Available
ConnecticutData Not Available$500
District of ColumbiaData Not AvailableData Not Available
DelawareData Not Available$349
FloridaData Not AvailableData Not Available
GeorgiaData Not AvailableData Not Available
Hawaii$397Data Not Available
KentuckyData Not Available$546
LouisianaData Not AvailableData Not Available
MarylandData Not AvailableData Not Available
MassachusettsData Not Available$295
Minnesota$261Data Not Available
Missouri$359Data Not Available
MississippiData Not Available$311
Montana$326Data Not Available
North CarolinaData Not Available$261
North Dakota$258Data Not Available
Nebraska$333Data Not Available
New HampshireData Not AvailableData Not Available
New Jersey$635$355
New Mexico$360Data Not Available
New YorkData Not Available$382
Oklahoma$345Data Not Available
PennsylvaniaData Not Available$654
Rhode IslandData Not Available$576
South Carolina$391Data Not Available
South Dakota$314Data Not Available
TexasData Not AvailableData Not Available
Utah$326Data Not Available
VirginiaData Not AvailableData Not Available
VermontData Not AvailableData Not Available
Washington$247Data Not Available
West VirginiaData Not AvailableData Not Available
Wisconsin$315Data Not Available
Wyoming$256Data Not Available

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The monthly premiums fluctuate by state. However, Farmers has a national average premium of $212 per month, while Travelers has an average insurance premium of $181 per month. Therefore, Travelers wins as the cheapest company by state.

Which is cheapest by vehicle?

When searching for cheap insurance rates, another significant factor that impacts your car insurance policy is the vehicle you drive. When you insure more than one vehicle, you could drive up your annual rates. Let’s see Farmers’ and Travelers’ responses through monthly costs.

Average Monthly Farmers vs. Travelers Car Insurance by Number of Vehicles
Number of VehiclesMonthly Farmers Car Insurance RatesMonthly Travelers Car Insurance Rates
1 Vehicle$261$170
2 Vehicles$347$212
3 Vehicles$646$341
4 Vehicles$864$396

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Travelers auto insurance rates are more cost-efficient. However, your rates could see a slight decrease if you qualify for a multi-vehicle and multi-driver discount.

Which is cheapest when bundling homeowners and renters insurance?

If you’re thinking about getting homeowners or renter insurance, try adding it to your overall insurance bill to save a few dollars on your monthly rates.

Adding another insurance service to your car insurance bill is called bundling. It can save you at least 12% on auto insurance. When looked at over a year’s time, this can add up to real savings on your annual premiums.

What does that number look like for Farmers’ and Travelers’ monthly premiums? Let’s look at the rates.

Average Monthly Farmers vs. Travelers by Bundling Homeowners and Renters Insurance
Own/Rent SummaryMonthly Farmers Car Insurance RatesMonthly Travelers Car Insurance Rates

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In some scenarios, you could pay less per month at Farmers. However, Travelers auto insurance rates show a consistent decrease.

Which is cheapest by driving record?

Maintaining a clean driving record is a sure way to keep your auto insurance costs low. This is important because car insurance companies look back at your driving record for up to three years.

By then, minor traffic violations should be gone. However, DUIs and reckless driving convictions may stick around for a while and impact your rates.

Let’s see how Farmers and Travelers determine your car insurance based on your driving record.

Average Monthly Farmers vs. Travelers Car Insurance Rates by Driving Records
Driving Record SummaryFarmers Monthly Car Insurance RatesTravelers Monthly Car Insurance Rates
Clean Driving Record$288$287
With One Speeding Violation$340$355
With One Accident$377$357
With One DUI$393$478

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Under a clean driving record and one accident, Travelers offers cheaper rates. However, Farmers has a more affordable rate for drivers with one speeding violation and others with one DUI.

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Farmers vs. Travelers Car Insurance Coverages

Cheap rates can work wonders for your finances, but what if those low prices don’t provide enough coverage? Let’s compare Farmers and Travelers and see which company has more coverage options.

Comparing Farmers and Travelers Car Insurance Coverages
Farmers Car Insurance CoveragesTravelers Car Insurance Coverages
LiabilityLiability Coverage
CollisionComprehensive Coverage
ComprehensiveCollision Coverage
Uninsured / Underinsured MotoristPersonal Injury Protection
Medical PaymentsUninsured/Underinsured Motorist Coverage
Personal Injury Protection (PIP)Medical Payments Coverage
Towing and roadside serviceLoan/Lease Gap Insurance
Rental Car ReimbursementRental Coverage
RideshareRoadside Assistance
Loss of UseNew Car Replacement
Guaranteed Value™Accident Forgiveness
Customized EquipmentRide Sharing
Personal UmbrellaUmbrella Insurance
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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Although Travelers is less expensive, Farmers wins the coverage option battle. Farmers has matched Travelers coverage against coverage and even provides exclusive coverage for its customers.

Farmers vs. Travelers Car Insurance: Who has more discounts?

We talked a little about discounts in the previous sections, but we didn’t mention all discounts. Let’s compare Farmers and Travelers other discounts that you can qualify for.

Comparing Farmers and Travelers Car Insurance Discounts
Car Insurance Discount NameFarmers Discount ValuesTravelers Discount Values
Affinity group discountVariesN/A
Anti-lock Brake DiscountVariesN/A
Anti-Theft Device DiscountVariesN/A
Claims Free Renewal DiscountVariesN/A
Continuous Coverage DiscountN/A15%
Daytime Running Lights DiscountVariesN/A
Defensive Driver DiscountVaries8%
Driving Habits DiscountVariesN/A
Driving training discountVaries8%
Early Quote DiscountVaries10%
E-billing DiscountVariesN/A
Electronic Stability ControlVariesN/A
EV/Hybrid Discount5%N/A
Family DiscountVariesN/A
Good Driver DiscountVariesN/A
Good Payer DiscountVaries15%
Good Student DiscountVaries8%
Home Owner DiscountVaries5%
Hybrid/Electric Vehicle DiscountN/A10%
Low Mileage DiscountN/AVaries
Loyalty DiscountVariesN/A
Mature driver discountVariesN/A
Military DiscountVariesN/A
Multiple Policy Discount10%13%
Multiple Vehicle DiscountVaries8%
New Car DiscountN/A10%
No lapse in coverage discountN/AVaries
On Your Own DiscountVariesN/A
Organization DiscountVariesN/A
Paid in full discountVaries8%
Paperless documents discountVariesN/A
Passive Restraint DiscountVariesN/A
Preferred payment discountVaries3%
Prepay DiscountVariesN/A
Professional organization discountVariesN/A
Provider Switch DiscountVariesN/A
Safe Driver DiscountN/A23%
Senior Adult DiscountVariesN/A
Student Away at School DiscountVaries7%
teenSMART DiscountVariesN/A
VIN EtchingVariesN/A
Youth Driving DiscountVariesN/A

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Farmers have more discounts than Travelers, but all of Farmers’ discount values depend on specific circumstances. To get an absolute value, you’ll have to contact a Farmers insurance agent.

You can get a massive discount if you have a good credit score. According to Experian, auto insurance companies issue cheaper rates to customers who have good or excellent credit.

Why? Credit score correlates to risk. Therefore, a good credit score translates to less likely to file a claim.

However, customers with poor credit will likely receive higher auto insurance rates because they correlate to higher chances of filing a claim.

Farmers vs. Travelers Car Insurance Reviews

Why are reviews critical to the customer experience? Reviews can show you how a company performs and how it treats customers. We recommend that all shoppers check out the reviews before making a final decision.

We happen to have a few reviews for you in the subsections below. Our reviews include pros, cons, financial strength ratings, customer satisfaction ratings, and mobile app ratings.

Pros and Cons

Our research found a few pros and cons of Farmers and Travelers. Check out the advantages and disadvantages of both companies.

Comparing Pros and Cons of Farmers vs. Travelers Car Insurance
Farmers ProsFarmers ConsTravelers ProsTravelers Cons
Get extra benefits through when you shop with an agentFarmers' online quote tool has a chance to miss dealsSeveral auto insurance options to choose fromRideshare coverage is only available in Colorado and Illinois
Farmers have special coverage options for antique and classic carsAbove average complaint indexModerate auto insurance ratesRanked last in the auto insurance market share
Rideshare Coverage for rideshare driversMarginal-rated repair service

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Despite Travelers’ cheap auto insurance rates, it has more cons than pros. Meanwhile, Farmers has more advantages than drawbacks.

Financial Strength and Credit Ratings

If you want to see the most reliable ratings, check out the ratings from financial strength and credit rating agencies. We located the best rating agencies and compiled their results. Let’s examine them.

Farmers vs. Travelers Financial Strength and Credit Ratings
AgenciesFarmers RatingsTravelers Ratings
AM BestAA++
Better Business Bureau (BBB)A+A+
NAIC Complaint Index1.080.32
J.D. Power - Power Circle RatingsAbout AverageAbout Average
Consumer Reports8990

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AM Best, Moody’s, and S&P judges the financial strength of both companies. Based on their ratings, Travelers has a better economic outlook than Farmers.

The BBB, NAIC, J.D. Power, and Consumer Reports show customer satisfaction scores. Under the BBB and J.D. Power, Farmers and Travelers have the same score.

However, Travelers has a better customer satisfaction score under NAIC and Consumer Reports.

Mobile App Ratings

The best insurance companies have invested in mobile apps. Why? Smartphones are more than just a trendy craze – they’re essential to our day-to-day lives.

Therefore, the customer experience on a smartphone is just as necessary as any other ratings. We researched the web and found the latest mobile app ratings of Farmers and Travelers.

Farmers vs. Travelers Mobile App Ratings
Smart Device Stores/SystemsFarmers Mobile App Star RatingsTravelers Mobile App Star Ratings
Apple App Store (iOS)5 stars2 stars
Google Play Store (Android)4 stars4 stars

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Although Farmers and Travelers have the same score on Android’s Google Play Store, Farmers has a better customer experience on Apple’s iOS.

Are you looking for free insurance quotes?

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Farmers vs. Travelers Car Insurance: The Bottom Line

Travelers is a cheaper company with better financial strength and credit ratings. However, Farmers has Travelers beat in direct premiums and market share. It all boils down to what you need.

To compare companies outside of the Farmers vs. Travelers car insurance guide, enter your ZIP code in the free online quote tool.

Frequently Asked Questions

What is Farmers car insurance?

Farmers is a car insurance company that provides coverage for vehicles, property, and liability. They offer a variety of insurance products, including liability insurance, collision coverage, and comprehensive coverage.

What is Travelers car insurance?

Travelers is a car insurance company that provides coverage for vehicles, property, and liability. They offer a variety of insurance products, including liability insurance, collision coverage, and comprehensive coverage.

Can I get a quote for car insurance from both Farmers and Travelers?

Yes, you can get a quote for car insurance from both Farmers and Travelers by visiting their websites or contacting their customer service representatives.

Can I customize my car insurance policy with Farmers or Travelers?

Yes, both Farmers and Travelers allow policyholders to customize their car insurance policies to meet their specific needs and preferences.

Can I bundle my car insurance with other insurance products with Farmers or Travelers?

Yes, both Farmers and Travelers allow policyholders to bundle their car insurance with other insurance products, such as homeowners or renters insurance, for potential discounts.

Do Farmers and Travelers offer 24/7 customer service for car insurance?

Yes, both Farmers and Travelers offer 24/7 customer service for car insurance, so policyholders can get help at any time of the day or night.

Can I manage my car insurance policy online with Farmers or Travelers?

Yes, both Farmers and Travelers allow policyholders to manage their car insurance policies online through their respective websites or mobile apps.

Are you looking for free insurance quotes?

Your one-stop online insurance guide. Get free quotes now!

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