Chubb vs. Farmers Automobile: Which Company is the Best Fit for You?

Quick Facts

• Based on national averages for insurance, Farmers Automobile offers significantly less expensive prices than Chubb
• Chubb may help you save more money -- they offer more discounts than Farmers Automobile Insurance Association
• Farmers Automobile tends to be a much cheaper option for policyholders who live in urban areas

Chubb or Farmers Automobile: Which Company has the Cheapest Car Insurance?

Are you in the market for a new insurance policy? You've probably seen commercials and billboards from companies offering big savings, but exactly how much money can you save by switching?

You've maybe even narrowed it down to Chubb or Farmers Automobile as potential options, but which company will offer you more affordable premiums?

Looking at nationwide averages, Farmers Automobile is quite a bit cheaper than Chubb, with rates averaging $123 a month compared to $291 with Chubb.

However, Farmers Automobile may not be the lowest or best option for every driver out there. After all, auto insurance carriers can offer drastically different rates to every driver depending on rating factors like your driving record, your credit score, your age, or even where you call home (among other things), so prices could change drastically from person to person.

Luckily, we've broken down average premiums from both Chubb and Farmers Automobile by lots of different rate factors, so read on to find out which company is the best for you.

Chubb vs. Farmers Automobile: Average Car Insurance Rates by State

Chubb and Farmers Automobile only compete against each other in one states, with Farmers Automobile offering less expensive prices to the average driver in all of them. Wisconsin has the most noticable difference, where Farmers Automobile rates are $338 cheaper than insurance premiums at Chubb.

That being said, there's a lot more that goes into your car insurance cost than just your home state. Read on to find out more.

Which is the Best Company For Young Drivers?

Young drivers -- especially teens -- normally pay a lot for auto insurance compared to older drivers. The reason is that teen 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. As you can see above, teens who use Farmers Automobile save over 55% per month compared to those who use Chubb.

Even so, with both companies, you'll see your rates lower significantly by the time drivers turn 25. For example, average premiums for Chubb policyholders drop almost 55% and Farmers Automobile's rates decrease more than 60% over that time.

Which is the Best Company for Retired Drivers?

Drivers around retirement age typically enjoy some of the cheapest car insurance prices you can find. After all, they've likely been driving for quite some time, which generally decreases their chances of collisions and other infractions that can raise premiums.

So, which carrier offers the best prices to retired drivers? Farmers Automobile gets the edge here, with average rates coming in at around $96 a month compared to Chubb's $187.

Which is the Best Company for Married Drivers?

Those who are single tend to get offered slightly more expensive auto insurance prices than married couples. That's because policies for married drivers usually cover several vehicles, which many carriers will give you a discount for.

For single drivers, the difference in average rates between these two companies is significant, with Farmers Automobile premiums coming in at about half of Chubb's. The advantage for married policyholders with Farmers Automobile is also obvious, where drivers save around $150 a month.

Chubb or Farmers Automobile: Average Rates by Gender

Did you know men typically pay more for car insurance than women? That's because men are more likely to get tickets and get into accidents, which raises the chances of filing a claim with insurance.

With Chubb, women generally pay about $10 per month less than men, and around $1 with Farmers Automobile.

When it comes to the most affordable prices for each gender, Farmers Automobile offers the lowest average rates for both men and women. On average, male drivers save about $173 a month and women save about $163 with Farmers Automobile compared to the average Chubb policyholder.

Chubb vs. Farmers Automobile: 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.

It's no secret that insurance can be pretty complicated. There are so many different coverages and limits that it can make it pretty confusing to find the right policy for you.

The two most common policies that drivers look at fall into two categories -- liability coverage (that covers bodily injury and property damage for other drivers and passengers if you cause a collision) and full coverage (which includes collision and comprehensive coverages that protect your own car, alongside what you get with a liability policy).

Looking specifically at state minimum liability insurance, Farmers Automobile has the significant edge, with average monthly premiums coming in at $75. If you want a full coverage policy with the same state minimum limits, Farmers Automobile again has the edge, with policies averaging around $170 per month to Chubb's $412.

Is Chubb or Farmers Automobile Better for Drivers with Spotty Records?

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

You'll probably end up paying more with speeding tickets and accidents on your record, but which of these two companies offers the cheapest premiums to drivers with less-than-perfect records?

Which Company is Best for Drivers with Speeding Tickets?

Policyholders who use Chubb for their insurance can normally expect their monthly bill to go up about 15% after getting a speeding ticket. Farmers Automobile policyholders can expect a bit more drastic of an increase of around 20%.

That being said, Farmers Automobile tends to offer the best prices for drivers both with a ticket and with a clean record, offering prices that are $136 and $152 more affordable, respectively, compared to Chubb.

Which Company is Best for Drivers After an Accident?

Chubb drivers who get in an accident can expect to see their premiums rise by just under 25%, while those who have insurance through Farmers Automobile will see about a 25% increase.

At the end of the day, the cheaper rates come from Farmers Automobile, with average prices coming in at $117 compared to Chubb's $290.

Which Company is Best for Drivers with a DUI?

On average, a DUI offense is going to cost you much more than a single collision or speeding ticket when it comes to your car insurance bill. For example, Chubb increases average premiums by more than $150 a month -- that's nearly a 45% increase.

But if you end up with a DUI charge and are looking for more affordable rates, Farmers Automobile tends to be more affordable for the average driver, with monthly premiums coming in at around $178 to Chubb's $389.

How does Credit Score Impact Chubb and Farmers Automobile Rates?

Did you know many insurance carriers take into account your credit score when determining prices? This isn't true for everyone (for example, California and Michigan are two states that ban the practice entirely), but it does affect a lot of policyholders out there.

The reasoning car insurance companies use is that drivers with good credit will be more likely to pay their bills on time; so they'll reward them with cheaper premiums, while those with poor credit will usually be forced to pay more.

Looking at Chubb and Farmers Automobile specifically, which carrier has the most affordable prices for policyholders at different credit levels?

Which Company is Best for Drivers with Good Credit?

If you have a great credit score, Farmers Automobile will typically reward you the most. For drivers with "excellent" credit scores, Farmers Automobile comes in more than 51.22 less expensive. Drivers with "good" credit scores normally save about 50% with Farmers Automobile compared to average rates from Chubb.

Which Company is Best for Drivers with Bad Credit?

Farmers Automobile typically offers lower premiums than Chubb when it comes to drivers with less-than-perfect credit. Drivers with "fair" credit pay around 46% per month less with Farmers Automobile compared to Chubb, and those with "poor" scores generally save an average of about 67% per month.

Is Chubb or Farmers Automobile Better for Drivers who Work from Home or Have Short Commutes?

How much you drive can have a substantial impact on your monthly auto insurance bill. That's because the more milage you put on your vehicle each year, the more likely you are to be in a collision and file an insurance claim.

For both remote workers and those taking short commutes, Farmers Automobile tends to be the more affordable option. Chubb's average prices for drivers with 6,000 annual miles come in over 60% more expensive than Farmers Automobile. Those who drive 12,000 miles each year can expect to pay more than 55% more with Chubb over Farmers Automobile.

Chubb or Farmers Automobile: Compare Rates for Urban, Suburban, and Rural Drivers

Where you call home can play a considerable role in how much you pay for insurance. Usually, those who live in rural areas will pay less than policyholders in urban areas because of the small number of cars that are on the roads where they live.

Farmers Automobile boasts the most affordable average premiums for drivers in all areas, regardless of if they're urban, suburban, or rural.

Those in rural areas can expect to save around 67% with Farmers Automobile compared to Chubb. People who live in suburban areas pay about 65% less with Farmers Automobile compared to Chubb. For drivers in urban ZIP codes, Farmers Automobile Insurance Association's average rates are around 47% less than Chubb.

Chubb vs. Farmers Automobile Discounts

No matter why you might be in the market for a new car insurance policy, you're always going to want to save as much money as you can, and the best way to do that is by taking advantage of as many auto insurance discounts as possible.

But where do you even start? With what seems like a million different discounts out there, it may be difficult to find all the ones you qualify for.

Luckily, we did the hard work for you and looked at all of the different discounts Chubb and Farmers Automobile offer their customers so that you can find the one that has the most discounts and, therefore, the largest savings.

Overall, Chubb comes out ahead with 15 discounts to Farmers Automobile's 11.

Both carriers offer a lot of the same discounts -- like anti-theft discounts, discounts for being a good student, and multi-policy discounts -- but Chubb also offers discounts for ABS, distant student, driver training, and more.

On the other hand, Farmers Automobile has a few proprietary discounts of their own for things like advance quote discounts, EFT discounts, group discounts, and more.

Final Thoughts: Is Chubb or Farmers Automobile Best for You?

You've seen the effect certain variables have on your car insurance and the different discounts companies offer. But, when it comes down to it, is Chubb or Farmers Automobile the best fit for you?

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

• Your driving record contains an at-fault accident.
• Your neighborhood is in the suburbs.
• You've started working from home and don't have much of a commute.

Chubb might be best for you if...

• You're looking for the carrier with the most discounts.

Hopefully, this guide helps you get a better idea of the difference between Chubb and Farmers Automobile. 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 best way to make sure you're getting the best deal on your insurance policy is to compare quotes from multiple carriers, not just Chubb and Farmers Automobile. Luckily, sites like Compare.com do all the hard work for you. Simply enter your ZIP code below and get free quotes from dozens of the top auto insurance companies in your area, all in just a few minutes.

Chubb vs. Farmers Automobile FAQs

Is Chubb or Farmers Automobile cheaper?

Farmers Automobile is the cheaper of the two carriers when looking at national average prices, with policies averaging $123 a month with Farmers Automobile and $291 for Chubb. Even so, that doesn't mean Farmers Automobile will be the cheapest company for every driver, since there are multiple different factors (things like gender, age, driving record, etc.) that play a role in how much you pay.

Who is better, Chubb or Farmers Automobile?

Sadly, the only answer we can give you is "it depends.". Neither carrier is necessarily "better" for each policyholder -- it all boils down to your unique car insurance profile.

Why do Chubb and Farmers Automobile offer me different rates?

Insurance companies use several different variables when calculating the premiums they charge. Factors like where you live, where your home is, age, gender, and sometimes even things like your credit score can all be used. Both Chubb and Farmers Automobile calculate prices differently, so it's likely they'll offer different rates. The best way to determine which company is the lowest for you is by comparing personalized quotes from a bunch of different carriers.

How do I know if Chubb or Farmers Automobile is right for me?

The only way to find the auto insurance carrier that's right for you is by getting quotes from a handful of companies and finding the one best suited for your individual budget. Luckily, Compare.com does all the hard work for you. Just enter your ZIP code and you'll get quotes from dozens of your local top car insurance carriers for free. That way, you can guarantee you're getting the most affordable price. And maybe you'll find that the best company for you isn't Chubb or Farmers Automobile at all, but another you hadn't even thought of!

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.