Cincinatti Financial 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 more affordable prices than Cincinatti Financial
• Cincinatti Financial may help you save more money -- they offer more discounts than Farmers Mutual of Tennessee
• Farmers Mutual of Tennessee offers cheaper average premiums for policyholders who are looking to purchase insurance with a spouse

Cincinatti Financial or Farmers Mutual of Tennessee: Which Company has the Cheapest Car Insurance?

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

You've maybe even narrowed your search down to Cincinatti Financial or Farmers Mutual of Tennessee as potential options, but which company will save you the most?

Looking at nationwide averages, Farmers Mutual of Tennessee has average rates that are around 50% a month more affordable than those from Cincinatti Financial.

But Farmers Mutual of Tennessee may not be the lowest or best option for every driver out there. Car insurance carriers use a ton of complex algorithms to determine prices, so depending on how clean your driving record is or how old you are (among several other factors), you could see wildly different rates from the ones above.

Luckily, we've broken down average premiums from both Cincinatti Financial and Farmers Mutual of Tennessee by a variety of different rate factors, so read on to find out which company is the best for you.

Cincinatti Financial vs. Farmers Mutual of Tennessee: Average Car Insurance Rates by State

Cincinatti Financial and Farmers Mutual of Tennessee only compete against each other in Tennessee, where Farmers Mutual of Tennessee offers the cheaper average prices. Farmers Mutual of Tennessee drivers tend to pay about $94 per month less on average compared to drivers who use Cincinatti Financial for their auto insurance.

But there's more to calculating car insurance rates than just your home state. Keep reading 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 insurance than any other group of drivers out there on the road. It's typically because teen drivers are statistically much more likely to get into an accident that results in a car insurance claim, making them much riskier to insure.

Even so, that doesn't mean teen drivers can't still save money on their auto insurance. For example, 18-year-old drivers pay an average of over 55% less a month by choosing Farmers Mutual of Tennessee over Cincinatti Financial.

That being said, both companies will reduce prices by the time drivers turn 25. For example, average premiums for Cincinatti Financial policyholders drop more than 60% 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 usually enjoy some of the most affordable car insurance premiums you'll ever see. After all, they've likely been driving for quite some time, which normally decreases their chances of collisions and other infractions that can raise prices.

When looking at Cincinatti Financial and Farmers Mutual of Tennessee specifically, which carrier is best for retired drivers? Farmers Mutual of Tennessee gets the edge, with rates for drivers 65 and older $55 less expensive than the national average for Cincinatti Financial.

Which is the Best Company for Married Drivers?

You may not be aware, but insurance premiums tend to be cheaper for married couples than they are for single drivers. That's because policies for married policyholders usually cover more than one vehicle, which several carriers will give you a discount for.

For single policyholders, the difference in average rates between these two companies is significant, with Farmers Mutual of Tennessee prices coming in at about half of Cincinatti Financial's. The advantage is also clear for married drivers - Farmers Mutual of Tennessee offers the cheapest average premiums.

Cincinatti Financial or Farmers Mutual of Tennessee: Average Rates by Gender

You may not know, but men normally pay more for car insurance than women do. That's because women are less likely to get tickets and get into accidents, which lowers the chances of filing a claim with insurance.

Generally, men see rates around $15 per month higher with Cincinatti Financial, and about $17 more with Farmers Mutual of Tennessee.

When it comes to the most affordable prices for each gender, Farmers Mutual of Tennessee offers the cheapest average rates for both men and women, with average prices $98 less for men and $102 cheaper for women.

Cincinatti Financial vs. 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.

For most people, insurance isn't the easiest topic to understand. There are so many different coverages and terms 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 (which provides bodily injury and property damage coverage for other drivers and passengers if you cause a collision) and full coverage (which typically refers to having collision and comprehensive coverages in addition to liability coverage).

Looking specifically at state minimum liability insurance, Farmers Mutual of Tennessee has the significant edge, with average monthly premiums coming in at $44. If you want a full coverage policy with the same state minimum limits, Farmers Mutual of Tennessee again has the edge, with policies averaging around $155 a month to Cincinatti Financial's $293.

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

You've probably seen plenty of commercials from auto 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.

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

Which Company is Best for Drivers with Speeding Tickets?

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

However, Farmers Mutual of Tennessee tends to offer the best prices for drivers both with clean records and with a speeding ticket, offering premiums that are 30% and 40% more affordable, respectively, compared to Cincinatti Financial.

Which Company is Best for Drivers After an Accident?

After an accident, drivers who have their auto insurance through Cincinatti Financial can expect to see around an $92 -- or about 43% -- rise in their car insurance prices. Drivers who use Farmers Mutual of Tennessee for their auto insurance will see a monthly bill around $3 (or 3%) more expensive after reporting an accident to their insurance company.

At the end of the day, drivers who use Farmers Mutual of Tennessee end up with the cheaper prices after an accident, with average rates coming in at $89 compared to Cincinatti Financial's $214.

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 ticket when it comes to your car insurance bill. On average, Cincinatti Financial will climb your premiums about 62% after a DUI, while Farmers Mutual of Tennessee's average prices rise by more than 35%.

But if you end up with a DUI charge and are looking for more affordable rates, Farmers Mutual of Tennessee tends to be cheaper for the average driver, with monthly premiums coming in at around $137 to Cincinatti Financial's $320.

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

You may not have known, but your credit score can be used as one of the variables to calculate your monthly auto insurance prices. This isn't true for everyone (for example, Hawaii and Michigan are two states that ban the practice entirely), but it will come into play for many drivers.

Insurance carriers argue that someone with bad credit is less likely to pay their bills on time, which makes them riskier to insure. Because of that, policyholders with bad credit will often be forced to pay more.

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

Which Company is Best for Drivers with Good Credit?

If you have solid credit, Farmers Mutual of Tennessee will generally reward you the most. For policyholders with "excellent" credit scores, Farmers Mutual of Tennessee comes in nearly 38.1 less expensive. Drivers with "good" credit scores normally save about 44% with Farmers Mutual of Tennessee compared to average premiums from Cincinatti Financial.

Which Company is Best for Drivers with Bad Credit?

Farmers Mutual of Tennessee typically offers lower rates than Cincinatti Financial when it comes to drivers with bad credit. Drivers with "fair" credit pay around 49% per month less with Farmers Mutual of Tennessee compared to Cincinatti Financial, and those with "poor" scores usually save an average of about 60% per month.

Is Cincinatti Financial or Farmers Mutual of Tennessee 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 premiums. That's because the more milage you put on your car, the more likely you are to be in a collision and file an insurance claim.

In this case, neither Cincinatti Financial or Farmers Mutual of Tennessee report increasing prices for drivers with higher annual mileage figures. Still, Farmers Mutual of Tennessee comes out as the lowest for drivers at both intervals, whether they put 6,000 or 12,000 miles on their vehicle every year, with average premiums of $100 a month for both.

Cincinatti Financial or Farmers Mutual of Tennessee: Compare Rates for Urban, Suburban, and Rural Drivers

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

Farmers Mutual of Tennessee tends to offer the most affordable prices for drivers in all areas, regardless of if they're urban, suburban, or rural.

For drivers in urban ZIP codes, Farmers Mutual of Tennessee's average rates are around $106 less than Cincinatti Financial. People who live in suburban areas pay about $102 less with Farmers Mutual of Tennessee compared to Cincinatti Financial. Those in rural areas can expect to save around $93 with Farmers Mutual of Tennessee compared to Cincinatti Financial.

Cincinatti Financial vs. Farmers Mutual of Tennessee 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. That's where car insurance discounts comes into play.

But with what seems like a million different discounts out there, it can be difficult to find all the ones you qualify for 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 compared all of the different discounts offered by Cincinatti Financial and Farmers Mutual of Tennessee so that you can easily see which company offers the most discounts and see which ones you might be able to take advantage of.

Overall, Cincinatti Financial comes out ahead with 10 discounts to Farmers Mutual of Tennessee's five.

Both companies offer several of the same discounts -- like discounts for being a defensive driver and multi-policy discounts -- but Cincinatti Financial also offers discounts for advance quote, anti-theft, COVID-19 relief, and more.

On the other hand, Farmers Mutual of Tennessee has a few proprietary discounts of their own for things like forgiveness discounts, good driving discounts, and multi-car discounts.

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

So, you've seen how different factors can affect your auto insurance premiums. We've shown you all the discounts each carrier offers, too. That's all well and good, but at the end of the day, is Cincinatti Financial or Farmers Mutual of Tennessee the best one for you and your specific needs?

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

• You have below-average credit.
• You're looking for the best prices on liability only coverage.
• You have a short commute.

Cincinatti Financial might be best for you if...

• You're looking for discounts -- Cincinatti Financial has the most.

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

At the end of the day, the sure-fire way to make sure you're getting the best deal on your auto insurance policy is to compare quotes from several carriers, not just Cincinatti Financial and Farmers Mutual of Tennessee. Luckily, Compare.com does all the hard work for you. Simply enter your ZIP codes below and get multiple quotes from some of the best insurance companies in your area, all for free.

Cincinatti Financial vs. Farmers Mutual of Tennessee FAQs

Is Cincinatti Financial or Farmers Mutual of Tennessee cheaper?

Farmers Mutual of Tennessee is the more affordable of the two carriers when looking at national average rates, with policies averaging $100 per month with Farmers Mutual of Tennessee and $200 for Cincinatti Financial. Even so, that doesn't mean Farmers Mutual of Tennessee will be the lowest company for everyone, since there are several different variables (things like age, gender, driving record, etc.) that play a role in how much you pay.

Who is better, Cincinatti Financial or Farmers Mutual of Tennessee?

Sadly, the answer truly is "it depends.". No single carrier is "better" for each policyholder -- it all comes down to what your unique auto insurance profile looks like.

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

Insurance companies use lots of different factors when determining the prices they charge. Variables such as your driving record, gender, where you live, age, and sometimes even things like your credit score can all be used. Both Cincinatti Financial and Farmers Mutual of Tennessee calculate premiums using different factors, so it's likely they'll offer different rates. The best way to determine which company is the most affordable for you is by comparing personalized quotes from a bunch of different carriers.

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

The only way to find the car insurance carrier that's right for you is by getting quotes from multiple companies and finding the one best suited for your individual budget. Luckily, sites like Compare.com make it easy for you to do just that. Just enter your ZIP code and you'll get quotes from dozens of your local top auto insurance carriers for free. That way, you can guarantee you're getting the cheapest rate. And maybe you'll find that the best company for you isn't Cincinatti Financial or Farmers Mutual of Tennessee 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.