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

Quick Facts

• Looking at the national averages for insurance, Farmers Automobile offers more affordable rates than Erie
• Erie offers more discounts than Farmers Automobile Insurance Association
• Farmers Automobile tends to be a much cheaper option for drivers who have an at-fault accident on their record

Erie vs. Farmers Automobile: Which Company has the Cheapest Car Insurance?

So, you're thinking about switching your auto insurance. With so many ads from all sorts of companies offering big discounts, you're probably wondering exactly how much you might be able to save.

You might have narrowed your search down to Erie or Farmers Automobile as potential options, but between the two, which one has more affordable prices for car insurance?

Looking at the national average rates for both companies, Erie is about $30 more per month than Farmers Automobile.

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

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

Erie or Farmers Automobile: Average Car Insurance Rates by State

Erie and Farmers Automobile only compete against each other in two states, with Erie offering cheaper prices to the average driver in all of them. Wisconsin has the most noticable difference, where Erie premiums are over 40% less expensive than auto insurance prices at Farmers Automobile.

That being said, there's a lot more that goes into your car insurance payment than just the state you live in. Keep reading to learn more.

Which is the Best Company For Young Drivers?

Young drivers -- especially teens -- typically pay a lot for auto insurance compared to older drivers. The reason is that young, inexperienced drivers are statistically much more likely to get into accidents since they have less experience on the roads.

Even so, that doesn't mean teen drivers can't still save money on their insurance. Just look at the table above -- where 18-year-old drivers who have Farmers Automobile for their car insurance pay more than $40 less than those who use Erie. It's worth noting that Erie offers insurance in 11 different states compared to Farmers Automobile's three, which can skew the average rates a bit, but the difference here is still considerable.

However, with both companies, you'll see your premiums reduce significantly once you turn 25. For example, average prices for Erie policyholders lower over $150 and Farmers Automobile's rates decrease around $150 over that time.

Which is the Best Company for Retired Drivers?

Drivers around retirement age usually enjoy some of the cheapest auto insurance prices you can find. 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.

When looking at Erie and Farmers Automobile specifically, which carrier is best for retired drivers? Farmers Automobile gets the edge, with rates for drivers 65 and older more than 15% cheaper than the national average for Erie.

Which is the Best Company for Married Drivers?

Did you know that car insurance premiums are generally less expensive for married couples than they are for single policyholders? That's typically because married drivers tend to own and insure several cars, which can often earn you a discount.

When it comes to relationship status, Farmers Automobile is the clear winner for those who are single, with prices about $32 a month more affordable than Erie, on average. For married policyholders, the advantage is clear again - Farmers Automobile has the edge when it comes to average rates.

Erie vs. Farmers Automobile: Average Rates by Gender

Women tend to pay less for auto insurance than men. This is because men are statistically more likely than women to get speeding tickets and get into collisions, which leads to increased risk for insurers and, therefore, higher prices.

With Erie, women generally pay around 7% per month less than men, while with Farmers Automobile, the difference is closer to 1% a month.

Looking at the data for each company specifically, Farmers Automobile offers the lowest average premiums for both men and women, with average rates 22% less for men and 17% cheaper for women.

Erie or 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.

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.

The two most common policies that many drivers look at fall into two categories -- liability only (which provides property damage and bodily injury 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).

If you're looking for state minimum limits for liability insurance, Farmers Automobile usually offers less expensive premiums of $75 compared to Erie's $91. When it comes to full coverage policies with similar limits, Farmers Automobile again has the edge, with policies about $45 per month more affordable than Erie, on average.

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

You've probably seen plenty of commercials from car 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.

Tickets and collisions will most likely raise your prices, but is Erie or Farmers Automobile cheaper for drivers with less-than-ideal driving records?

Which Company is Best for Drivers with Speeding Tickets?

Erie policyholders can expect their rates to go up an average of $18 a month if they get a ticket, while Farmers Automobile typically raises prices around $22 per month, on average.

But Farmers Automobile tends to offer the best prices for drivers both with clean records and with a speeding ticket -- their rates are around 27% less expensive for drivers with clean records and 20% more affordable for those with a ticket.

Which Company is Best for Drivers After an Accident?

Erie drivers who get in a collision can expect to see their premiums rise by just under $40, while those who have insurance through Farmers Automobile will see about a $30 increase.

Overall, Farmers Automobile offers the cheapest prices for drivers with an at-fault collision on their records, with monthly premiums averaging $117 compared to Erie Insurance's $157.

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 ticket when it comes to your insurance bill. For example, Farmers Automobile increases average rates by over $90 a month -- that's over a 50% increase.

Farmers Automobile has the overall most affordable prices for drivers with a DUI on their records at $178 a month, but it's worth noting that Erie's average rates come from 11 states compared to just three for Farmers Automobile, so the data may be skewed slightly.

How does Credit Score Impact Erie and Farmers Automobile Rates?

Did you know that many auto insurance companies take into account your credit score when calculating premiums? This isn't always the case (Hawaii, for example, has banned the use of credit score as a rating factor) but it will come into play for a lot of policyholders.

Insurance carriers argue that someone with good credit is more likely to pay their bills on time, which makes them less risky to insure. Because of that, drivers with good credit will often be rewarded with cheaper rates.

Looking specifically at Erie and Farmers Automobile, which carrier has the best premiums for policyholders at different credit levels?

Which Company is Best for Drivers with Good Credit?

If you have great credit, you'll usually find a better deal with Farmers Automobile. Drivers with "excellent" credit can save more than 10% compared to Erie, and those with "good" scores can also expect to see savings -- around $12 or 11% more affordable every month.

Which Company is Best for Drivers with Bad Credit?

Farmers Automobile typically offers lower rates than Erie when it comes to drivers with a below average credit score. Drivers with "fair" credit pay about $27 per month less with Farmers Automobile compared to Erie, and those with "poor" scores usually save an average of around $69 per month.

Is Erie or Farmers Automobile 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 how much auto insurance companies will charge for coverage. Normally, those who drive less will end up with cheaper prices since there's less of a chance of getting into an accident and causing an insurance claim.

For both drivers who put 6,000 miles on their vehicles yearly, as well as those who average twice that figure, Farmers Automobile tends to be the less expensive option. Erie's average premiums for drivers with 6,000 annual miles come in $35 more expensive than Farmers Automobile. Those who drive 12,000 miles each year can expect to pay $25 more with Erie over Farmers Automobile.

Erie vs. Farmers Automobile: 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 car insurance, but the type of area you live in can have a considerable impact as well. Generally, those who live in rural areas will pay less than policyholders in urban areas due to the small number of vehicles that are on the roads in those areas.

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

Drivers in rural ZIP codes see the most affordable premiums from both carriers, but Farmers Automobile comes out on top with average prices about $84 monthly. Farmers Automobile also has more affordable average rates for policyholders in urban and suburban ZIP codes -- a 1% and 37% a month respective difference when compared to Erie drivers in similar areas.

Erie vs. Farmers Automobile Discounts

You want to save as much money as possible, right? The best way to do that is by taking advantage of as many insurance discounts as you can.

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

In the table below, we've taken a look at all of the different discounts Erie and Farmers Automobile offer their customers so that you can easily see which company offers the most discounts and see which ones you might be able to take advantage of.

Erie blows Farmers Automobile away when it comes to the sheer amount of discounts available, offering 10 more discounts than Farmers Automobile.

A couple of those are overlapping for things like advance quote discounts, anti-theft discounts, and discounts for insuring multiple cars with the same company. Erie also offers ABS discounts, COVID-19 relief discount, distant student discounts, and more that Farmers Automobile does not.

On the flip side, Farmers Automobile has a couple unique discounts of its own -- EFT discounts, discounts for being a good student, group discounts, and more.

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

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

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

• You're looking for the best rates in IA, IL, and WI.
• You're looking for more protection with "full coverage" car insurance.
• You are over 65 years old and want to save some money on your auto insurance.

Erie might be best for you if...

• You are considering moving to another state -- Farmers Automobile Insurance Association is only available in three states.
• You're looking for the carrier with the most discounts.

We hope this guide helps you get a good idea of the differences between Erie and Farmers Automobile. 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 insurance -- comparing quotes from multiple carriers, not just Erie and Farmers Automobile. Luckily, sites like Compare.com do all the hard work for you. Simply enter your ZIP codes below and get multiple quotes from some of the best auto insurance companies in your area, all for free.

Erie vs. Farmers Automobile FAQs

Is Erie or Farmers Automobile cheaper?

Looking just at the national average premiums, Farmers Automobile is the cheaper of the two carriers, offering average rates of $123 per month compared to $153 for Erie. However, Farmers Automobile won't necessarily be the lowest company for every policyholder, since there are lots of different variables (things like driving record, age, gender, etc.) that play a role in how much you pay.

Who is better, Erie or Farmers Automobile?

Unfortunately, the real answer is "it depends.". No single carrier is necessarily "better" for everyone -- it all depends on what your unique car insurance profile looks like.

Why do Erie and Farmers Automobile offer me different rates?

Insurance companies take a look at many different factors when determining the prices they charge policyholders. Variables such as where your home is, gender, age, where you call home, and sometimes even things like your credit score can all be taken into consideration. Both Erie and Farmers Automobile calculate rates 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 a variety of different carriers.

How do I know if Erie 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 several 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 area information and you'll get free quotes from dozens of the best insurance carriers in your area. With those, you can guarantee you're getting the best price. And who knows, the best company for you might not be Erie or Farmers Automobile 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.