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

Quick Facts

• Looking at the national averages for auto insurance, Farmers offers significantly less expensive rates than Chubb
• Farmers may help you save more money -- they offer more discounts than Chubb
• Farmers offers cheaper average prices for policyholders who drive fewer than 6,000 miles annually

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

Are you considering a new insurance policy? After all, you've seen ads from all sorts of companies offering hefty savings. But exactly how much can you save by switching?

You might have narrowed it down to Chubb or Farmers for your next policy, but between the two, which company will offer you more affordable rates?

As you can see, Chubb has average rates that are around 30% a month more expensive than those from Farmers when looking at the national average rates for insurance.

But Farmers may not be the lowest or best option for every single driver out there. Car insurance carriers vary their prices depending on things like how good your credit score is, how clean your driving record is, how old you are, where you live, and a variety of other factors, so premiums could change drastically from person to person.

So, if you want to find out which of Chubb or Farmers is really the best for you, keep reading to see average prices for each company broken down by many different rate factors.

Chubb vs. Farmers: Average Car Insurance Rates by State

Chubb and Farmers compete against each other in four states, with Farmers offering cheaper rates to the average driver in all of them. Wisconsin has the most noticable difference, where Farmers premiums are $306 more affordable than auto insurance rates at Chubb.

There's a lot more that goes into your car insurance bill than just the state you live in. Read on to find out more.

Which is the Best Company For Young Drivers?

You might already know that teen drivers generally pay a lot more for auto insurance than any other group of drivers. It's typically because teen drivers are statistically much more likely to get into an accident that results in an insurance claim, making them much riskier to insure.

That being said, that doesn't mean that teen drivers have to just accept sky-high insurance premiums. Just look at the table above -- where 18-year-old drivers who have Farmers for their car insurance pay 15% less than those who use Chubb.

Even so, with both companies, you'll see your prices drop significantly by the time you turn 25. Farmers offers the steepest drop, with 25-year-olds paying less than a third of what 18-year-old drivers are charged. Chubb's average rates lower almost 55% during that same period.

Which is the Best Company for Retired Drivers?

Drivers around retirement age normally enjoy some of the most affordable auto insurance premiums you'll ever see. After all, they've likely been driving for quite some time, which usually lowers their chances of collisions and other infractions that can raise prices.

When looking at Chubb and Farmers specifically, which carrier is best for retired drivers? Farmers gets the edge, with premiums for drivers 65 and older $44 less expensive than the national average for Chubb.

Which is the Best Company for Married Drivers?

You may not be aware, but insurance prices tend to be cheaper for married policyholders than they are for those who are single. This usually boils down to married couples having more than one vehicle on their policy -- something several auto insurance carriers will reward with discounts.

For single drivers, the difference in average rates between these two companies is significant, with Farmers prices coming in at a quarter less than Chubb's. The advantage for married drivers with Farmers is also obvious, where drivers save about $80 per month.

Chubb or Farmers: Average Rates by Gender

Men are statistically more likely than women to get pulled over for speeding or get into a collision, which means they'll normally end up paying more for insurance than women.

Generally, men see premiums around 4% a month higher with Chubb, and about 3% with Farmers.

Looking at the data for each company specifically, Farmers offers the cheapest average rates for both men and women, with average premiums $89 less for men and $85 cheaper for women.

Chubb vs. 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.

For most people, car insurance can be pretty complicated. There are a variety of different coverages that account for multiple different things. Some protect you and your car, while others only provide coverage for other people's property and health if you cause an accident.

However, most policies end up falling into two different types of coverage -- liability coverage (which covers the other party's injuries and property damage if you cause a collision) and full coverage (which includes two additional coverages -- collision and comprehensive -- alongside liability).

Looking specifically at state minimum liability limits, Farmers has the significant edge, with average monthly rates coming in at $126. If you want a full coverage policy with the same state minimum limits, Farmers again has the edge, with policies averaging around $281 per month to Chubb's $412.

Is Chubb or Farmers Better for Drivers with Spotty Records?

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

It's no secret secret that speeding tickets and at-fault accidents lead to higher premiums, but which carrier -- Chubb or Farmers -- has the lowest rates for drivers with less-than-ideal driving records?

Which Company is Best for Drivers with Speeding Tickets?

Policyholders who use Chubb for their auto insurance can typically expect their monthly bill to go up about 15% after getting a speeding ticket. Farmers policyholders can expect a bit more drastic of an increase of around 21%.

Even so, Farmers tends to offer the best prices for both drivers who have a recent ticket and those with clean records, offering prices that are 27% and 21% more affordable, respectively, compared to Chubb.

Which Company is Best for Drivers After an Accident?

Both companies will increase rates pretty significantly if you get into an at-fault collision with Chubb raising by about 23%. Farmers has a less extreme climb, but you can still expect to pay nearly 30% more than you were prior to your first accident.

At the end of the day, the less expensive premiums come from Farmers, with average prices coming in at $224 compared to Chubb's $290.

Which Company is Best for Drivers with a DUI?

If you get a DUI charge on your record, it's probably going to cost you more than a simple speeding ticket or even an accident. On average, Chubb will increase your premiums around 43% after a DUI, while Farmers's average prices rise by more than 25%.

How does Credit Score Impact Chubb and Farmers Rates?

You may not have known, but your credit score can come into play when carriers determine your monthly bill. This isn't true for everyone (for example, California and Hawaii are two states that ban the practice entirely), but it does affect lots of drivers out there.

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

Looking specifically at Chubb and Farmers, which carrier has the cheapest premiums for drivers at different credit levels?

Which Company is Best for Drivers with Good Credit?

Which Company is Best for Drivers with Bad Credit?

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

The amount of time you spend behind the wheel of your car plays a big role in your monthly auto insurance payment. Generally, the more milage you put on your car each year, the more you can expect to pay for coverage.

As you can see in the table above, annual mileage doesn't have much of an impact on how much Farmers charges. However, there's a small difference in monthly rates for Chubb, with policyholders who drive the least paying about $10 less every month compared to those who drive 12,000 miles yearly. Still, for drivers in both categories, Farmers is the less expensive company.

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

Where your home is can play a substantial role in how much you pay for car insurance. Usually, those who live in urban areas will pay more than policyholders in rural areas since there are a lot more vehicles on the roads where they live.

When comparing these two carriers side-by-side, Farmers normally comes out as the cheapest option for drivers in all types of areas, no matter if they're urban, suburban, or rural.

For drivers in urban ZIP codes, Farmers's average rates are around $251 a month compared to Chubb's $360. People in suburban areas pay about $189 with Farmers compared to Chubb's $260 monthly. If you live in a rural area, you can expect to pay around $170 per month with Farmers compared to Chubb's $252.

Chubb vs. Farmers Discounts

No matter why you might be in the market for a new 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 utilizing as many auto insurance discounts as possible.

But with what seems like a million different discounts out there, it can be hard to find all the ones you can take advantage of or to nail down the company that has the most discounts for your unique driver profile.

Luckily, we did the hard work for you and broke down all of the different discounts offered by both Chubb and Farmers so that you can easily see which company offers the most discounts and see which ones you might be able to take advantage of.

Farmers knocks Chubb out of the park when it comes to the sheer number of discounts available, offering 28 different discounts to Chubb's 28.

A couple of those are overlapping for things like anti-theft discounts, distant student discounts, discounts for getting driver training, and multi-policy discounts. Farmers also offers discounts for advance quote, alternative fuel, EFT, and more.

On the other hand, Chubb has a few proprietary discounts of their own for things like driver-vehicle combination discounts, DRL discounts, occasional operator discounts, and more.

Final Thoughts: Is Chubb or Farmers Best for You?

You've seen the effect certain variables have on your car insurance and the different discounts companies offer. That's all well and good, but at the end of the day, which insurance carrier is the right one for you and your specific driver profile?

Farmers might be best for you if....

• Your driving record includes a DUI charge.
• You want the most robust protection via a "full coverage" policy.
• You're married and plan to have both of your names on the vehicle's insurance policy.

Chubb might be best for you if...

• You have a more unique driver profile than those we mentioned above.

Hopefully, this guide helps you get a better idea of the difference between Chubb and Farmers. We also hope we've given you the information you need to make the best decision about your car insurance.

But, at the end of the day, there's only one way to know for sure that you're getting the best possible deal on auto insurance -- comparing quotes from multiple carriers, not just Chubb and Farmers. Luckily, sites like Compare.com make it easy for you to do just that. Just enter your ZIP code below and get free quotes from dozens of top insurance companies in your area, all in just a few minutes.

Chubb vs. Farmers FAQs

Is Chubb or Farmers cheaper?

Farmers is the cheaper of the two carriers when looking at national average prices, with policies averaging $203 per month with Farmers and $291 for Chubb. But that doesn't mean Farmers will be the most affordable company for each policyholder, since there are a range of different factors that come into play when it comes to your auto insurance cost.

Who is better, Chubb or Farmers?

Sadly, the answer truly is "it depends.". One carrier is not "better" for every policyholder -- it all depends on the makeup of your unique insurance profile. For example, Chubb is less expensive for drivers with excellent credit, while Farmers offers more affordable premiums for drivers with a recent DUI.

Why do Chubb and Farmers offer me different rates?

Car insurance companies use quite a few different variables when determining the prices they charge. Factors such as age, gender, where you call home, your driving record, and sometimes even things like your credit score can all be used. Both Chubb and Farmers calculate rates using different variables, so it's likely they'll offer different premiums. The best way to determine which company is the lowest for you is by comparing personalized quotes from several different carriers.

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

The only way to find the auto insurance carrier that's right for you is by getting quotes from several companies 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 information once 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 best premium. And maybe you'll find that the best company for you isn't Chubb or Farmers 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.