Auto-owners vs. Indiana Farmers: Which Company is the Best Fit for You?

Quick Facts

• Looking at the national averages for auto insurance, Indiana Farmers offers significantly more affordable rates than Auto-owners
• Auto-owners offers more discounts than Indiana Farmers Insurance
• Indiana Farmers tends to be a much cheaper option for drivers who have less-than-stellar credit

Auto-owners vs. Indiana Farmers: Which Company has the Cheapest Car Insurance?

Are you considering a new insurance policy? You've probably seen commercials and billboards from companies offering large discounts, but exactly how much money can you save by switching?

You've maybe even narrowed your search down to Auto-owners or Indiana Farmers as your top options, but which carrier will offer you less expensive prices?

As you can see, Indiana Farmers has average rates that are about 55% per month more affordable than those from Auto-owners when looking at the national average rates for insurance.

Even so, that doesn't mean Indiana Farmers will necessarily be cheaper than Auto-owners for every driver. Auto insurance companies vary their rates depending on things like where you live, how clean your driving record is, how good your credit score is, how old you are, and all sorts of other factors, so premiums will change quite a bit from person to person.

Wanting to know if Auto-owners or Indiana Farmers is really the right company for you? Keep on reading to see how average prices can change based on all of the factors we've mentioned above.

Auto-owners or Indiana Farmers: Average Car Insurance Rates by State

Auto-owners and Indiana Farmers only compete against each other in Indiana, where Indiana Farmers offers the cheaper average premiums. For Indiana residents, Indiana Farmers offers car insurance for $81 a month on average. Auto-owners's average rates come out to be over 60% more expensive, at $132 per month.

That being said, there's a lot more that goes into your auto insurance payment than just where you call home. Read on to learn more.

Which is the Best Company For Young Drivers?

You might already know that teen drivers normally pay a lot more for car insurance than any group out there on the road. The reason is that young, inexperienced drivers are statistically much more likely to get into accidents since they have less experience on the roads.

But that doesn't mean that teen drivers have to just accept sky-high insurance prices. For example, 18-year-old drivers pay an average of more than $250 less a month by choosing Indiana Farmers over Auto-owners. It's worth noting that Auto-owners offers auto insurance in 23 different states compared to Indiana Farmers's one, which can skew the average premiums a bit, but the difference here is still considerable.

However, both carriers will drop rates once you turn 25. For example, average prices for Auto-owners policyholders reduce nearly 60% and Indiana Farmers's rates decrease almost 45% over that time.

Which is the Best Company for Retired Drivers?

When it comes to car insurance, patience and experience pay off, with drivers around retirement age paying some of the most affordable prices you'll ever find.

So, which carrier offers the best premiums to retired drivers? Indiana Farmers gets the edge, with prices for drivers 65 and older $66 less expensive than the national average for Auto-owners.

Which is the Best Company for Married Drivers?

Did you know that insurance premiums are typically cheaper for married couples than they are for those who are single? That's generally because married drivers tend to own and insure more than one car, which can often earn you a discount.

When it comes to relationship status, Indiana Farmers is the clear winner for single drivers, with rates around $119 per month less expensive than Auto-owners, on average. The advantage for married policyholders with Indiana Farmers is also obvious, where drivers save over $70 a month.

Auto-owners vs. Indiana Farmers: Average Rates by Gender

Women usually to pay less for auto insurance than men. This is because women are less likely to get tickets and get into accidents, which lowers the chances of an insurance claim.

On average, men see premiums about 6% per month higher with Auto-owners, and around 8% more with Indiana Farmers.

Looking at overall affordability, Indiana Farmers offers the lowest average rates for both men and women, with average prices 55% less for men and 56% cheaper for women.

Auto-owners or Indiana Farmers: Compare State Minimum vs. Full Coverage Rates

*State minimum value indicates liability-only policies at each state's minimum bodily injury and property damage (BI/PD) limits

**Full coverage indicates state minimum BI/PD limits with collision and comprehensive coverages added to policy.

Car insurance can be a complicated subject for most people. Everyone needs insurance, but there are so many different limits and terms that it can be hard to find the right policy.

That being said, most policies that many drivers look at fall into two categories -- liability only (which provides bodily injury and property damage coverage for other drivers and their passengers if you cause an accident) and full coverage (which normally refers to having comprehensive and collision coverages in addition to what you get with liability coverage).

If you're looking for state minimum liability limits, Indiana Farmers typically offers significantly more affordable premiums of $44 compared to Auto-owners's $99. When it comes to full coverage policies with similar limits, Indiana Farmers again has the edge, with policies about $150 a month cheaper than Auto-owners, on average.

Is Auto-owners or Indiana Farmers Better for Drivers with Spotty Records?

You've probably seen plenty of commercials from car insurance companies offering great rates for good drivers, but that doesn't mean people with less-than-perfect driving records can't save money, too.

At-fault accidents and tickets will most likely raise your prices, but is Auto-owners or Indiana Farmers more affordable for drivers with spotty records?

Which Company is Best for Drivers with Speeding Tickets?

Auto-owners policyholders can expect their premiums to go up an average of $44 per month if they get a ticket, while Indiana Farmers usually raises rates around $14 a month, on average.

Even so, Indiana Farmers is generally the less expensive option for drivers both with clean records and with a speeding ticket. Drivers with a clean record can save about $51 per month and drivers with a ticket can save around $81 a month with Indiana Farmers Insurance.

Which Company is Best for Drivers After an Accident?

Both carriers will increase prices pretty significantly if you get into an at-fault accident with Auto-owners increasing by over $45. Indiana Farmers has a less extreme raise, but you can still expect to pay just under $15 more than you were prior to your first collision.

Overall, the cheaper rates come from Indiana Farmers, with monthly prices averaging $84 compared to Auto-Owners Insurance's $168.

Which Company is Best for Drivers with a DUI?

If you get a DUI charge, you can expect some pretty significant increases in your monthly insurance bill -- typically a lot more than a collision or speeding ticket. For example, Auto-owners increases average premiums by nearly $150 per month -- that's just under a 55% increase.

Indiana Farmers has the overall most affordable rates for drivers with a DUI on their records at $84 monthly, but it's worth noting that Auto-owners's average rates come from 23 states compared to just one for Indiana Farmers, so the data may be skewed slightly.

How does Credit Score Impact Auto-owners and Indiana Farmers Rates?

You may not realized it, but your credit score can be used as one of the factors to calculate your monthly auto insurance premiums. Certain states and companies do not allow for credit score to be used as a rating factor, but it does affect lots of drivers out there.

The reasoning car insurance carriers use is that policyholders with bad credit will be less likely to pay their bills on time; so normally, they'll be asked to pay more, while those with good credit will be rewarded with less expensive prices.

So, which company offers the best rates for drivers with poor, average, or good credit?

Which Company is Best for Drivers with Good Credit?

If you have a solid credit score, you'll usually find a better deal with Indiana Farmers. Policyholders with "excellent" credit can save over 35% compared to Auto-owners, and those with "good" scores can also expect to see savings -- about $61 or 47% more affordable each month.

Which Company is Best for Drivers with Bad Credit?

Indiana Farmers typically offers lower prices than Auto-owners when it comes to drivers with bad credit. Drivers with "fair" credit pay around $97 a month less with Indiana Farmers compared to Auto-owners, and those with "poor" scores generally save an average of about $201 per month.

Is Auto-owners or Indiana Farmers Better for Drivers who Work from Home or Have Short Commutes?

How much you drive can have a big impact on how much auto insurance companies will charge for coverage. That's because the fewer miles you put on your vehicle each year, the less likely you are to get into an accident and cause an insurance claim.

Indiana Farmers tends to be the less expensive option for both drivers who put 6,000 miles on their vehicles annually, as well as those who average twice that figure. Auto-owners's average premiums for drivers with 6,000 annual miles come in more than 55% more expensive than Indiana Farmers. Those who drive 12,000 miles yearly can expect to pay nearly 55% more with Auto-owners over Indiana Farmers.

Auto-owners vs. Indiana Farmers: Compare Rates for Urban, Suburban, and Rural Drivers

We've already mentioned how your home state can play a role in how much you pay for insurance, but the type of area you live in can have a considerable impact as well. Usually, if you live in an urban area with more cars on the road, you'll pay a little more for car insurance, while the opposite is true for people in rural areas.

When comparing these two carriers side-by-side, Indiana Farmers typically comes out as the cheapest option for drivers in every type of area, no matter if it's urban, suburban, or rural.

Drivers in rural ZIP codes see the lowest premiums from both companies, but Indiana Farmers comes out on top with average rates around $72 monthly. Indiana Farmers also has more affordable average premiums for policyholders in urban and suburban ZIP codes -- a 57% and 51% per month respective difference when compared to Auto-owners drivers in similar areas.

Auto-owners vs. Indiana Farmers Discounts

Regardless of why you might be in the market for a new insurance policy, you're always going to want to save as much money as possible. That's where auto insurance discounts comes into play.

But with what seems like a million different discounts out there, it can be hard to nail down the company that has the most discounts for your unique driver profile and to find all the discounts you're eligible for.

Below, we've broken down all of the different discounts offered by both Auto-owners and Indiana Farmers so that you can find the company that has the most discounts and, therefore, the biggest savings.

Auto-owners blows Indiana Farmers away when it comes to the sheer amount of discounts available, offering 16 more discounts than Indiana Farmers.

Both carriers offer several of the same discounts -- like advance quote discounts, discounts for being a good driver, and multi-policy discounts -- but Auto-owners also offers ABS discounts, anti-theft discounts, company car discounts, and more that Indiana Farmers does not.

On the flip side, Indiana Farmers has a couple unique discounts of its own -- mature driver discounts, renewal discounts, and select market discounts.

Final Thoughts: Is Auto-owners or Indiana Farmers Best for You?

So, you've seen how different variables can affect your insurance rates. We've broken down the different discounts each carrier offers, too. That's all well and good, but at the end of the day, which company is the best one for you and your specific driver profile?

Indiana Farmers might be best for you if....

• You're single and purchasing auto insurance by yourself.
• You live in an suburban area.
• You're buying car insurance for a teen and looking for a wallet-friendly option.

Auto-owners might be best for you if...

• You already have plans to move to another state -- Indiana Farmers Insurance is only available to Indiana residents.
• You're looking for the carrier with the most discounts.

We hope this guide helps you get a good idea of the differences between Auto-owners and Indiana Farmers. We also hope we've given you the information you need to make the best decision when it comes to your auto insurance.

At the end of the day, the sure-fire way to make sure you're getting the best deal on your car insurance policy is to compare quotes from multiple companies, not just Auto-owners and Indiana Farmers. Luckily, sites like Compare.com make it easy for you to do just that. Simply enter your ZIP code below and get free quotes from dozens of the top insurance carriers in your area, all in just a few minutes.

Auto-owners vs. Indiana Farmers FAQs

Is Auto-owners or Indiana Farmers cheaper?

Looking just at the national average prices, Indiana Farmers is the cheaper of the two companies, offering average rates of $81 a month compared to $179 for Auto-owners. But Indiana Farmers won't necessarily be the cheapest company for every policyholder, since there are several different factors (things like driving record, age, gender, etc.) that play a role in how much you pay.

Who is better, Auto-owners or Indiana Farmers?

Unfortunately, the answer truly is "it depends.". Neither carrier is necessarily "better" for everyone -- it all comes down to what your unique car insurance profile looks like.

Why do Auto-owners and Indiana Farmers offer me different rates?

Auto insurance carriers take a look at quite a few different variables when calculating the rates they charge policyholders. Factors like your driving record, age, gender, where you park your car, and sometimes even things like your credit score can all be taken into consideration. Both Auto-owners and Indiana Farmers calculate premiums using different formulas, so each one will most likely offer different prices. The only real way to see which company is the most affordable for you is by comparing personalized quotes from lots of different companies.

How do I know if Auto-owners or Indiana Farmers is right for me?

The only way to find the insurance carrier that's right for you is by getting quotes from several carriers and finding the one best suited for your individual budget. Luckily, sites like Compare.com do all the hard work for you. Just enter your area information and you'll get free quotes from dozens of the best auto insurance companies in your area. With those, you can guarantee you're getting the cheapest premium. And who knows, the best company for you might not be Auto-owners or Indiana Farmers at all!

Methodology

All of the data referenced in this article has been gathered in collaboration with Quadrant Information Services. We analyzed more than 2.5 million rows of carrier-reported data to calculate the average rates referenced above. All rates are based on an insurance profile of a single-vehicle policy for a driver that owns a 2016 Honda Accord. For more information on how we calculate rates, please reference our data methodology.