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

Quick Facts

• In general, Farmers Mutual of Tennessee offers significantly more affordable rates than Erie
• Erie may help you save more money -- they offer more discounts than Farmers Mutual of Tennessee
• Farmers Mutual of Tennessee offers less expensive average prices for drivers who have a speeding ticket on their driving record

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

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

You might have narrowed it down to Erie or Farmers Mutual of Tennessee as potential options, but which company will offer you cheaper rates?

Looking at nationwide averages, Farmers Mutual of Tennessee has average rates that are around 35% a month less expensive than those from Erie.

However, that doesn't necessarily mean Farmers Mutual of Tennessee will be the more affordable option for every single driver. Insurance carriers vary their prices depending on things like how old you are, how good your credit score is, how clean your driving record is, where you live, and a variety of other factors, so premiums could vary drastically from person to person.

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

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

Erie and Farmers Mutual of Tennessee only compete against each other in Tennessee, where Farmers Mutual of Tennessee offers the cheaper average premiums. Farmers Mutual of Tennessee drivers tend to pay about $45 per month less on average compared to drivers who use Erie for their car insurance.

That being said, there are plenty of other factors that go into your insurance cost than just where you live. Keep reading to find out more.

Which is the Best Company For Young Drivers?

You might already know that teen drivers normally pay a lot more for auto insurance than any group out there on the road. That'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.

But still, even with seemingly sky-high prices, teen drivers can still find ways to save money. Just look at the table above -- where 18-year-old drivers who have Farmers Mutual of Tennessee for their insurance pay over 30% less than those who use Erie. It's worth noting that Erie offers auto insurance in 11 different states compared to Farmers Mutual of Tennessee's one, which can skew the average rates a bit, but the difference here is still considerable.

That being said, both companies will offer you dramatically lower prices once you turn 25. For example, average premiums for Erie policyholders lower almost 55% and Farmers Mutual of Tennessee's prices reduce more than 55% over that time.

Which is the Best Company for Retired Drivers?

Once you approach retirement age, you'll generally enjoy the cheapest car insurance premiums out there. You've been on the road for years, and all that experience pays off when it comes to your monthly rates for insurance.

So, which carrier offers the best prices to retired drivers? Farmers Mutual of Tennessee gets the edge, with premiums for drivers 65 and older over 40% cheaper than the national average for Erie.

Which is the Best Company for Married Drivers?

Married drivers tend to get slightly more affordable auto insurance rates than single policyholders. That's usually because married couples tend to own and insure several vehicles, which can often earn you a discount.

For those who are single, the difference in average premiums between these two carriers is significant, with Farmers Mutual of Tennessee rates coming in at a third less than Erie's. The advantage for married policyholders with Farmers Mutual of Tennessee is also obvious, where drivers save about $45 a month.

Erie or Farmers Mutual of Tennessee: Average Rates by Gender

Men are statistically more likely than women to get into collisions and get tickets, which means they'll generally end up paying more for car insurance than women.

On average, men see prices around 7% per month higher with Erie, and more than 15% with Farmers Mutual of Tennessee.

When it comes to the lowest rates for each gender, Farmers Mutual of Tennessee comes out on top for both men and women. On average, women save about $56 a month and men save about $50 with Farmers Mutual of Tennessee compared to the average Erie policyholder.

Erie 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.

It's no secret that auto insurance can be a complicated subject for most people. There are many different coverages that account for several different things. Some protect you and your car, while others only provide coverage for other people's property and health if you cause a collision.

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 an accident) and full coverage (which includes two additional coverages -- collision and comprehensive -- alongside 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 per month to Erie's $215.

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

It's no secret -- drivers with good records end up getting the best deals on their car insurance. But that's not to say you can't save money if you don't have the best driving record, either.

You'll probably end up paying more with collisions and speeding tickets on your record, but which of these two companies offers the most affordable prices 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 premiums increase after getting a ticket, but Erie policyholders can expect to see their monthly bill increase by.

But Farmers Mutual of Tennessee tends to offer the best prices for drivers both with a speeding ticket and with a clean record, offering prices that are 28% and 37% cheaper, respectively, compared to Erie Insurance.

Which Company is Best for Drivers After an Accident?

Erie drivers who get in a collision can expect to see their rates climb by just under 25%, while those who have insurance through Farmers Mutual of Tennessee will see about a 3% increase.

At the end of the day, the less expensive prices come from Farmers Mutual of Tennessee, with average premiums coming in at $89 compared to Erie Insurance's $157.

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 ticket or even an accident. Erie drivers usually see a 40% increase in their car insurance rates after a DUI charge, while Farmers Mutual of Tennessee will normally raise premiums by around 37%.

Farmers Mutual of Tennessee has the overall lowest rates for drivers with a DUI on their records at $137 a month, but it's worth noting that Erie's average rates come from 11 states compared to just one for Farmers Mutual of Tennessee, so the data may be skewed slightly.

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

Did you know many auto insurance carriers take your credit score into account when determining prices? Certain states and companies do not allow for credit score to be used as an insurance factor, but it will come into play for a lot of policyholders.

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, drivers with bad credit will often be forced to pay more.

Looking at Erie and Farmers Mutual of Tennessee specifically, which carrier has the best rates for policyholders at different credit levels?

Which Company is Best for Drivers with Good Credit?

If you have great credit, Erie will usually reward you the most for an "excellent" credit score. For drivers with "excellent" credit scores, Erie comes in 0% cheaper. Drivers with "good" credit scores typically save about 14% with Farmers Mutual of Tennessee compared to average prices from Erie.

Which Company is Best for Drivers with Bad Credit?

Farmers Mutual of Tennessee typically offers lower premiums than Erie when it comes to drivers with less-than-stellar credit. Drivers with "fair" credit pay around 33% a month less with Farmers Mutual of Tennessee compared to Erie, and those with "poor" scores usually save an average of about 57% per month.

Is Erie 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 auto insurance payment. Generally, the more milage you drive, the more you can expect to pay for 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 rates for Erie, with policyholders who drive the least paying around $11 less every month compared to those who drive 12,000 miles each year. Still, for drivers in both categories, Farmers Mutual of Tennessee is the less expensive company.

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

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

When comparing these two companies side-by-side, Farmers Mutual of Tennessee typically comes out as the cheapest option for drivers in every type of area, no matter if it's urban, suburban, or rural.

Those in rural areas can expect to save about 23% with Farmers Mutual of Tennessee compared to Erie. People who live in suburban areas pay around 34% less with Farmers Mutual of Tennessee compared to Erie. For policyholders in urban ZIP codes, Farmers Mutual of Tennessee's average prices are about 41% less than Erie Insurance.

Erie vs. Farmers Mutual of Tennessee Discounts

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

But where do you even start? With what seems like a million different discounts out there, it may be hard to find all the ones you can take advantage of.

Luckily, we did the hard work for you and looked at all of the different discounts Erie and Farmers Mutual of Tennessee offer their customers so that you can see which one offers the most discounts and see which ones you might be able to take advantage of.

Erie blows Farmers Mutual of Tennessee away when it comes to the sheer amount of discounts available, offering 16 more discounts than Farmers Mutual of Tennessee.

A couple of those are overlapping for things like discounts for being a defensive driver, discounts for insuring multiple cars with the same company, and multi-policy discounts. Erie also offers discounts for ABS, advance quote, anti-theft, and more.

On the other hand, Farmers Mutual of Tennessee has a proprietary discount of their own -- a forgiveness discounts.

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

So, we've broken down the average rates for many of the variables auto insurance carriers look at, and walked through the different discounts each company offers, too. But, at the end of the day, which carrier is the best carrier for you, your vehicle, and your wallet?

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

• You haven't received any speeding tickets or been in a collision in the last few years.
• Your home is located in the suburbs.
• You're of retirement age and want to take advantage of lower prices.

Erie might be best for you if...

• You already have plans to move to another state -- Farmers Mutual of Tennessee is only available to Tennessee residents.
• You're looking for the company with the most discounts.

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

At the end of the day, the best way to make sure you're getting the best deal on your auto insurance policy is to compare quotes from multiple companies, not just Erie and Farmers Mutual of Tennessee. 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 car insurance carriers in your area, all for free.

Erie vs. Farmers Mutual of Tennessee FAQs

Is Erie or Farmers Mutual of Tennessee cheaper?

Farmers Mutual of Tennessee is the more affordable of the two companies when looking at national average premiums, with policies averaging $100 per month with Farmers Mutual of Tennessee and $153 for Erie. Even so, that doesn't mean Farmers Mutual of Tennessee will be the most affordable carrier for everyone, since there are lots of different factors (things like driving record, age, gender, etc.) that play a role in how much you pay.

Who is better, Erie or Farmers Mutual of Tennessee?

Unfortunately, the answer truly is "it depends.". One company is not necessarily "better" for every policyholder -- it all depends on what your unique insurance profile looks like. For example, Erie is cheaper for drivers with excellent credit, while Farmers Mutual of Tennessee offers more affordable prices for drivers with a recent DUI.

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

Car insurance carriers use lots of different variables when calculating the premiums they charge. Factors like age, your driving record, where you call home, gender, and sometimes even things like your credit score can all be used. Both Erie and Farmers Mutual of Tennessee calculate rates using different formulas, so it's likely they'll offer different prices. The best way to determine which carrier is the lowest for you is by comparing personalized quotes from a variety of different companies.

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

The only way to find the insurance company that's right for you is by getting quotes from a handful of carriers and finding the one best suited for your individual budget. Luckily, Compare.com makes it easy for you to do just that. Just enter your area information and you'll get quotes from dozens of your local top auto insurance companies for free. That way, you can guarantee you're getting the best rate. And maybe you'll find that the best carrier for you isn't Erie 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.