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

Quick Facts

• In general, Farmers Automobile offers significantly cheaper premiums than First Chicago
• Farmers Automobile offers more affordable prices for residents of suburban areas
• Farmers Automobile has less expensive rates for drivers who have a speeding ticket on their driving record

Farmers Automobile or First Chicago: Which Company has the Cheapest Car Insurance?

Are you in the market for a new insurance policy? With so many ads from all sorts of companies offering hefty savings, you're probably wondering exactly how much you might be able to save.

You might have narrowed it down to Farmers Automobile or First Chicago, but between the two, which one has more affordable premiums for auto insurance?

Looking at the national average rates for both carriers, Farmers Automobile is around $33 a month cheaper than First Chicago.

That being said, that doesn't mean Farmers Automobile will necessarily be less expensive than First Chicago for every single driver. Insurance companies vary their prices depending on things like how clean your driving record is, how good your credit score is, where you live, how old you are, and tons of other factors, so premiums will vary quite a bit from person to person.

Wanting to know if Farmers Automobile or First Chicago is really the right company for you? Keep on reading to see how average rates can change based on all of the factors we've mentioned above.

Farmers Automobile vs. First Chicago: Average Car Insurance Rates by State

Farmers Automobile and First Chicago only compete against each other in Illinois, where Farmers Automobile offers the cheaper average prices. Farmers Automobile drivers tend to pay about $20 per month less on average compared to drivers who use First Chicago for their auto insurance.

That being said, there's a lot more that goes into your insurance cost than just your home state. Read on to find out more.

Which is the Best Company For Young Drivers?

Young drivers -- especially teens -- usually pay a lot for car insurance compared to older drivers. It's generally because teen drivers are statistically much more likely to get into an accident that results in an auto insurance claim, making them much riskier to insure.

Even so, that doesn't mean that teen drivers have to just accept sky-high insurance rates. As you can see above, teens who use Farmers Automobile save 20% a month compared to those who use First Chicago.

However, both carriers will lower premiums by the time drivers turn 25. First Chicago offers the steepest reduction, with 25-year-olds paying less than a third of what 18-year-old drivers are charged. That being said, Farmers Automobile still has the most affordable prices at $103 monthly.

Which is the Best Company for Retired Drivers?

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

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

Which is the Best Company for Married Drivers?

Single policyholders tend to get offered slightly more expensive insurance premiums than married couples. This usually boils down to married policyholders having more than one vehicle on their policy -- something several car insurance companies will reward with discounts.

For single drivers, the difference in average prices between these two carriers is significant, with Farmers Automobile premiums coming in at a quarter less than First Chicago's. The advantage for married drivers with Farmers Automobile is also obvious, where drivers save about $25 per month.

Farmers Automobile or First Chicago: Average Rates by Gender

Because women are less likely to get speeding tickets and get into accidents, they are less likely to file a claim with insurance. So, women tend to pay less for auto insurance than men.

On average, women see prices around $1 a month less expensive with Farmers Automobile, and about $10 with First Chicago.

Looking at overall affordability, Farmers Automobile comes out on top for both men and women, with average rates $39 less for men and $28 cheaper for women.

Farmers Automobile vs. First Chicago: 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 isn't the easiest topic to understand. Everyone needs insurance, but there are so many different coverages and limits that it can be hard to find the right policy for you.

But most policies that drivers look at fall into two categories -- liability coverage (that covers bodily injury and property damage for other drivers and their passengers if you cause a collision) and full coverage (which includes two additional coverages -- collision and comprehensive -- in addition to what you get with a liability policy).

When it comes to state minimum limits for liability insurance, First Chicago has the edge, while Farmers Automobile offers the lowest average prices for full coverage policies with similar coverage limits. Policyholders looking for basic state minimum coverage can save around $2 with First Chicago Insurance, while full coverage comes out to be around $70 cheaper with Farmers Automobile Insurance Association.

Is Farmers Automobile or First Chicago Better for Drivers with Spotty Records?

It's no secret -- drivers with good records end up getting the best deals on their auto 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 at-fault collisions and speeding tickets on your record, but which of these two companies offers the cheapest premiums to drivers with spotty records?

Which Company is Best for Drivers with Speeding Tickets?

Drivers who use Farmers Automobile for their car insurance can normally expect their monthly bill to go up about 20% after getting a speeding ticket. First Chicago policyholders can expect a bit more drastic of an increase of around 24%.

That being said, Farmers Automobile is generally the more affordable option for both drivers who have clean records and those with a recent ticket, offering rates that are $22 and $35 less expensive, respectively, compared to First Chicago Insurance.

Which Company is Best for Drivers After an Accident?

Farmers Automobile policyholders who get in an accident can expect to see their prices increase by $30, while those who have insurance through First Chicago will see about a $35 increase.

At the end of the day, the more affordable rates come from Farmers Automobile, with average premiums coming in at $117 compared to First Chicago Insurance's $146.

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 a collision. First Chicago drivers usually see a 52% climb in their insurance rates after a DUI charge, while Farmers Automobile will typically raise prices by around 51%.

But if you end up with a DUI charge and are looking for more affordable premiums, Farmers Automobile tends to be cheaper for the average driver, with monthly premiums coming in at about $178 to First Chicago's $225.

How does Credit Score Impact Farmers Automobile and First Chicago Rates?

Did you know many auto insurance carriers take into account your credit score when determining rates? Certain states and companies do not allow for credit score to be used as an insurance factor, but it does affect lots of drivers out there.

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

Looking specifically at First Chicago and Farmers Automobile, which carrier has the lowest prices for policyholders at different credit levels?

Which Company is Best for Drivers with Good Credit?

If you have a solid credit score, Farmers Automobile will usually reward you the most. For drivers with "excellent" credit scores, Farmers Automobile comes in nearly 39.39 less expensive. Drivers with "good" credit scores normally save around 29% with Farmers Automobile compared to average premiums from First Chicago.

Which Company is Best for Drivers with Bad Credit?

Farmers Automobile typically offers lower prices than First Chicago when it comes to drivers with bad credit. Drivers with "fair" credit pay about 21% per month less with Farmers Automobile compared to First Chicago, and those with "poor" scores typically save an average of around 5% per month.

Is Farmers Automobile or First Chicago Better for Drivers who Work from Home or Have Short Commutes?

How much you drive can have a substantial impact on how much car insurance companies will charge for coverage. That's because the more milage you put on your car, the more likely you are to be in an accident and file an insurance claim.

As you can see in the table above, annual mileage doesn't have much of an impact on how much First Chicago charges. However, there's a significant difference in monthly rates for Farmers Automobile, with policyholders who drive the least paying about $21 less each month compared to those who drive 12,000 miles yearly. Still, for drivers in both categories, Farmers Automobile is the cheaper company.

Farmers Automobile or First Chicago: 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 auto insurance, but the type of area you live in can have a considerable impact as well. Normally, those who live in urban areas will pay more than policyholders in rural areas due to the number of vehicles that are on the roads where they live.

When comparing these two carriers side-by-side, Farmers Automobile usually comes out as the lowest option for drivers in all areas, regardless of if they're urban, suburban, or rural.

Those in rural areas can expect to pay around $84 a month with Farmers Automobile and $145 with First Chicago. Drivers in suburban ZIP codes pay about $92 with Farmers Automobile compared to First Chicago's $128 per month. In urban areas, Farmers Automobile's average premiums are around $192 while First Chicago offers rates about $196.

Farmers Automobile vs. First Chicago 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 auto insurance discounts comes into play.

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

Luckily, we did the hard work for you and looked at all of the different discounts Farmers Automobile and First Chicago 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.

Overall, Farmers Automobile has a slight advantage when it comes to total number of discounts. First Chicago offers a grand total of nine discounts, while Farmers Automobile has 11.

There are a couple discounts both companies offer, but Farmers Automobile also offers discounts for EFT, group discount, hybrid vehicle, and more.

On the other hand, First Chicago has a few proprietary discounts of their own for things like ABS discounts, driver training discounts, passive restraint discounts, and more.

Final Thoughts: Is Farmers Automobile or First Chicago Best for You?

You've seen the role certain variables have on your car insurance and the different discounts carriers offer. But, at the end of the day, is Farmers Automobile or First Chicago the right fit for you?

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

• You have received a ticket within the last few years.
• Your credit score is high.
• You want to save money while purchasing insurance for a teenager.

First Chicago might be best for you if...

• You're looking for the best prices on liability only coverage.

Hopefully, this guide has ben a valuable resource as you compare Farmers Automobile and First Chicago and that it aids in making a more informed 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 several companies, not just Farmers Automobile and First Chicago. Luckily, Compare.com makes it easy for you to do just that. Just enter your ZIP code below and get multiple quotes from some of the best insurance carriers in your area, all for free.

Farmers Automobile vs. First Chicago FAQs

Is Farmers Automobile or First Chicago cheaper?

Farmers Automobile is the more affordable of the two companies when looking at national average rates, with policies averaging $123 a month with Farmers Automobile and $156 for First Chicago. But that doesn't mean Farmers Automobile will be the most affordable carrier for everyone, since there are a variety of different factors that are considered when it comes to your car insurance bill.

Who is better, Farmers Automobile or First Chicago?

Unfortunately, the real answer is "it depends.". Neither company is necessarily "better" for every policyholder -- it all comes down to what your unique auto insurance profile looks like.

Why do Farmers Automobile and First Chicago offer me different rates?

Car insurance carriers use many different variables when calculating the premiums they charge. Things like age, where you park your car, your driving record, gender, and sometimes even things like your credit score can all be used. Both Farmers Automobile and First Chicago calculate prices using different formulas, so it's likely they'll offer different rates. The best way to determine which carrier is the cheapest for you is by comparing personalized quotes from many different companies.

How do I know if Farmers Automobile or First Chicago is right for me?

The only way to find the auto insurance company that's right for you is by getting quotes from multiple carriers 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 area information and you'll get quotes from dozens of your local top insurance companies for free. With those, you can guarantee you're getting the most affordable rate. And maybe you'll find that the best carrier for you isn't Farmers Automobile or First Chicago 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.