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

Quick Facts

• Looking at the national averages for insurance, Farmers Mutual of Tennessee offers significantly less expensive rates than Chubb
• Chubb offers more discounts than Farmers Mutual of Tennessee
• Farmers Mutual of Tennessee offers more affordable average prices for drivers with a DUI charge on their record

Chubb vs. Farmers Mutual of Tennessee: Which Company has the Cheapest Car Insurance?

So, you're considering switching your auto insurance. After all, you've seen ads from all sorts of companies offering huge discounts. But exactly how much can you save by switching?

You might be considering Chubb or Farmers Mutual of Tennessee as your top options, but which carrier will offer you cheaper premiums?

Looking at nationwide averages, Chubb has average rates that are about 65% per month more expensive than those from Farmers Mutual of Tennessee.

But that doesn't mean Farmers Mutual of Tennessee will necessarily be more affordable than Chubb for every driver. Car insurance companies use a ton of complex algorithms to calculate rates, so depending on where you live or how old you are (among lots of other factors), you could see wildly different prices from the ones above.

So, if you want to find out which of Chubb or Farmers Mutual of Tennessee is really the best for you, keep reading to see average premiums for each carrier broken down by lots of different rate factors.

Chubb or Farmers Mutual of Tennessee: Average Car Insurance Rates by State

Chubb and Farmers Mutual of Tennessee only compete against each other in Tennessee, where Farmers Mutual of Tennessee offers the cheaper average rates. For Tennessee residents, Farmers Mutual of Tennessee offers auto insurance for $100 a month on average. Chubb's average prices come out to be over 70% more expensive, at $248 per month.

There's a lot more that goes into your insurance payment than just the state you live in. Continue reading to learn more about how other factors will affect your rates.

Which is the Best Company For Young Drivers?

Teen drivers will almost always have the most expensive auto insurance premiums of any group out there on the road. The reason is that young, inexperienced drivers are statistically much more likely to get into an accident that results in an auto insurance claim, making them much riskier to insure.

However, that doesn't mean teen drivers can't still save money on their car insurance. Just look at the table above -- where 18-year-old drivers who have Farmers Mutual of Tennessee for their insurance pay more than $400 less than those who use Chubb.

That being said, both carriers will offer you dramatically lower rates once you turn 25. For example, average prices for Chubb policyholders reduce nearly 55% and Farmers Mutual of Tennessee's rates decrease over 55% over that time.

Which is the Best Company for Retired Drivers?

Drivers around retirement age typically enjoy some of the lowest auto insurance prices out there. After all, they've likely been driving for quite some time, which normally decreases their chances of accidents and other infractions that can increase premiums.

But who has the best rates for retired drivers between Chubb and Farmers Mutual of Tennessee? Farmers Mutual of Tennessee gets the edge, with prices for drivers 65 and older almost 65% less expensive than the national average for Chubb.

Which is the Best Company for Married Drivers?

Married couples tend to get slightly cheaper car insurance premiums than those who are single. That's usually because married policyholders tend to own and insure multiple cars, which can often earn you a discount.

When it comes to relationship status, Farmers Mutual of Tennessee is the clear winner for single drivers, with prices around $220 a month more affordable than Chubb, on average. The advantage is also clear for married drivers - Farmers Mutual of Tennessee offers the cheapest average premiums.

Chubb vs. Farmers Mutual of Tennessee: Average Rates by Gender

Men are statistically more likely than women to get into an accident or get pulled over for speeding. That means when it comes to insurance men will generally end up paying a little more.

Typically, women see rates about 4% per month less with Chubb, and around 16% less with Farmers Mutual of Tennessee.

When it comes to the most affordable premiums for each gender, Farmers Mutual of Tennessee comes out on top for both men and women. On average, women save about $194 a month and men save about $188 with Farmers Mutual of Tennessee compared to the average Chubb policyholder.

Chubb or Farmers Mutual of Tennessee: 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.

Auto insurance can be a complicated subject for most people. There are so many different limits and coverages that it can make it pretty confusing to find the right policy.

The two most common policies that many drivers look at fall into two categories -- liability only (which covers the other party's property damage and injuries if you cause a collision) and full coverage (which usually refers to having comprehensive and collision coverages in addition to what you get with a liability policy).

If you're looking for state minimum liability limits, Farmers Mutual of Tennessee generally offers significantly cheaper prices of $44 compared to Chubb's $169. When it comes to full coverage policies with similar limits, Farmers Mutual of Tennessee again has the edge, with policies around $250 per month less expensive than Chubb, on average.

Is Chubb or Farmers Mutual of Tennessee Better for Drivers with Spotty Records?

It's no big secret that drivers who are accident-free get better deals on their car insurance. But even if you have a spotty record, you can still find plenty of ways to save some cash on your monthly bill.

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

Which Company is Best for Drivers with Speeding Tickets?

Drivers with Farmers Mutual of Tennessee insurance policies don't report seeing their premiums increase after getting a ticket, but Chubb policyholders can expect to see their monthly bill increase by about 15%.

Even so, Farmers Mutual of Tennessee is typically the cheaper option for both drivers who have a recent ticket and those with clean records -- their rates are around 61% more affordable for drivers with clean records and 67% less expensive for those with a ticket.

Which Company is Best for Drivers After an Accident?

After an accident, drivers who have their auto insurance through Chubb can expect to see around an $67 -- or about 23% -- increase in their car insurance rates. Drivers who use Farmers Mutual of Tennessee for their insurance will see a monthly bill around $3 (or 3%) more expensive after reporting an accident to their car insurance company.

Overall, drivers who use Farmers Mutual of Tennessee end up with the cheaper prices after an accident, with monthly prices averaging $89 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 accident or speeding ticket when it comes to your insurance bill. For example, Chubb increases average rates by over $150 a month -- that's just under a 45% increase.

If you have a DUI on your record and are looking for more affordable premiums, Farmers Mutual of Tennessee tends to be the much more affordable option with average prices of $137 monthly compared to $389 from Chubb.

How does Credit Score Impact Chubb and Farmers Mutual of Tennessee Rates?

Did you know that many auto insurance carriers take into account your credit score when calculating premiums? Certain states and companies do not allow for credit score to be used as a rating factor, but it does affect lots of policyholders out there.

Car insurance carriers argue that those with good credit scores are more likely to pay their bills on time each month, which lowers the risk involved on their end, while the opposite is true for those with bad credit.

So, which carrier offers the lowest rates for drivers with good, average, or poor credit?

Which Company is Best for Drivers with Good Credit?

If you have solid credit, you'll usually find a better deal with Farmers Mutual of Tennessee. Policyholders with "excellent" credit can save nearly 45% compared to Chubb, and those with "good" scores can also expect to see savings -- about $101 or 51% cheaper every month.

Which Company is Best for Drivers with Bad Credit?

Farmers Mutual of Tennessee typically offers lower prices than Chubb when it comes to drivers with a below average credit score. Drivers with "fair" credit pay around $128 per month less with Farmers Mutual of Tennessee compared to Chubb, and those with "poor" scores normally save an average of about $455 a month.

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

Did you know that the amount of time you spend in your car have a large impact on your monthly insurance bill? Usually, the more miles you drive, the more you can expect to pay for auto insurance.

As you can see in the table above, annual mileage doesn't have much of an impact on how much Farmers Mutual of Tennessee charges. However, there's a small difference in monthly premiums for Chubb, with policyholders who drive 6,000 miles annually paying around $10 less each month compared to those who drive 12,000 miles yearly. Still, Farmers Mutual of Tennessee is the less expensive option for drivers in both categories.

Chubb vs. Farmers Mutual of Tennessee: Compare Rates for Urban, Suburban, and Rural Drivers

Where you call home can have a pretty big impact on your monthly insurance cost. Typically, those who live in rural areas will pay less than drivers in urban areas due to the small number of vehicles that are on the roads in those areas.

Farmers Mutual of Tennessee boasts the most affordable average rates for drivers in all types of areas, no matter if they're urban, suburban, or rural.

Policyholders in rural ZIP codes see the lowest prices from both companies, but Farmers Mutual of Tennessee comes out on top with average premiums about $89 per month. Farmers Mutual of Tennessee also has more affordable average rates for drivers in urban and suburban ZIP codes -- a 68% and 63% a month respective difference when compared to Chubb policyholders in similar areas.

Chubb vs. Farmers Mutual of Tennessee Discounts

Regardless of why you might be in the market for a new auto insurance policy, you're always going to want to save as much money as possible, and the best way to do that is by utilizing as many car insurance discounts as you can.

But where do you even start? With so many discounts out there, it may seem challenging to find all the of the ones you're eligible for.

In the table below, we've broken down all of the different discounts offered by both Chubb and Farmers Mutual of Tennessee so that you can see which company can save you the most money each month.

Chubb blows Farmers Mutual of Tennessee away when it comes to the sheer amount of discounts available, offering 10 more discounts than Farmers Mutual of Tennessee.

Both carriers offer a lot of the same discounts -- like discounts for being a defensive driver and multi-policy discounts -- but Chubb also offers ABS discounts, anti-theft discounts, distant student discounts, and more that Farmers Mutual of Tennessee does not.

On the flip side, Farmers Mutual of Tennessee has a couple unique discounts of its own -- forgiveness discounts, discounts for being a good driver, and discounts for insuring multiple cars with the same company.

Final Thoughts: Is Chubb or Farmers Mutual of Tennessee Best for You?

You've seen the role certain variables have on your auto insurance and the different discounts companies offer. That's all well and good, but when it comes down to it, which insurance company is the right fit for you?

Farmers Mutual of Tennessee might be best for you if....

• You have an at-fault collision on your record.
• You live in an suburban area.
• You drive fewer than 12,000 miles every year.

Chubb might be best for you if...

• You want to save extra money with discounts.

We hope this guide helps you get a good idea of the differences between Chubb and Farmers Mutual of Tennessee. We also hope we've given you the information you need to make the best decision about your insurance.

At the end of the day, the best way to make sure you're getting the best deal on your car insurance policy is to compare quotes from several carriers, not just Chubb and Farmers Mutual of Tennessee. Luckily, sites like Compare.com make it easy for you to do just that. Just enter your ZIP code below and get multiple free quotes from some of the best auto insurance companies in your area, all in just a few minutes.

Chubb vs. Farmers Mutual of Tennessee FAQs

Is Chubb or Farmers Mutual of Tennessee cheaper?

Looking just at the national average prices, Farmers Mutual of Tennessee is the cheaper of the two carriers, offering average rates of $100 per month compared to $291 for Chubb. But Farmers Mutual of Tennessee won't necessarily be the cheapest carrier for everyone, 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 Mutual of Tennessee?

Unfortunately, the only answer we can give you is "it depends.". One company is not necessarily "better" for each driver -- it all depends on the makeup of your unique car insurance profile.

Why do Chubb and Farmers Mutual of Tennessee offer me different rates?

Insurance companies take a look at several different variables when determining the premiums they charge drivers. Things such as your driving record, age, where you park your car, gender, and sometimes even things like your credit score can all come into play. Both Chubb and Farmers Mutual of Tennessee calculate rates differently, so each one will most likely offer different prices. The only real way to see which carrier is the most affordable for you is by comparing personalized quotes from a range of different carriers.

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

The only way to find the car insurance company 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 information once and you'll get free quotes from dozens of the best auto insurance carriers in your area. With those, you can guarantee you're getting the lowest premium. And who knows, the best carrier for you might not be Chubb or Farmers Mutual of Tennessee 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.