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

Quick Facts

• Looking at the national averages for auto insurance, Farmers Automobile offers significantly more affordable prices than Hanover
• Farmers Automobile offers cheaper average premiums for drivers who have a speeding ticket on their driving record
• Hanover may help you save more money -- they offer more discounts than Farmers Automobile Insurance Association

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

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

You might have narrowed your search down to Farmers Automobile or Hanover as potential options, but which carrier will save you the most?

As you can see, Hanover has average rates that are around 85% a month more expensive than those from Farmers Automobile when looking at the national average rates for car insurance.

That being said, that doesn't necessarily mean Farmers Automobile will be the less expensive option for each driver. Auto insurance carriers use a variety of complex algorithms to determine rates, so depending on how clean your driving record is or how good your credit score is (among a bunch of other factors), you could see wildly different premiums from the ones above.

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

Farmers Automobile vs. Hanover: Average Car Insurance Rates by State

Farmers Automobile and Hanover only compete against each other in one states, with Farmers Automobile offering more affordable premiums to the average driver in all of them. Illinois has the most noticable difference, where Farmers Automobile rates are 1263 cheaper than insurance prices at Hanover.

That being said, there are plenty of other factors that go into your auto insurance payment than just the state you live in. Continue reading to learn more about how other variables will affect your rates.

Which is the Best Company For Young Drivers?

You might already know that teen drivers generally pay a lot more for car insurance than any group out there on the road. The reason is that teen drivers are statistically much more likely to cause collisions and other accidents that will result in an insurance claim.

But that doesn't mean teen drivers can't still save money on their insurance. For example, 18-year-old drivers pay an average of over 85% less per month by choosing Farmers Automobile over Hanover.

However, both companies will offer you dramatically lower premiums once you turn 25. For example, average rates for Farmers Automobile policyholders reduce about $150 and Hanover's prices drop more than $500 over that time.

Which is the Best Company for Retired Drivers?

Drivers around retirement age typically enjoy some of the cheapest car insurance rates you can find. After all, they've likely been driving for quite some time, which normally lowers their chances of collisions and other infractions that can raise prices.

When looking at Farmers Automobile and Hanover specifically, which company is best for retired drivers? Farmers Automobile gets the edge, with premiums for drivers 65 and older $517 less expensive than the national average for Hanover.

Which is the Best Company for Married Drivers?

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

For single policyholders, the difference in average premiums between these two carriers is significant, with Farmers Automobile prices coming in at around a quarter of Hanover's. The advantage is also clear for married couples - Farmers Automobile offers the most affordable average premiums.

Farmers Automobile or Hanover: Average Rates by Gender

Did you know men typically pay more for auto insurance than women? That's because men are more likely to get into accidents and get speeding tickets, which raises the chances of filing a claim with insurance.

Normally, women see rates about $1 a month less expensive with Farmers Automobile, and around $60 cheaper with Hanover when compared to their male counterparts.

Looking at the data for each carrier specifically, Farmers Automobile comes out on top for both men and women, with average prices $760 less for men and $701 cheaper for women.

Farmers Automobile vs. Hanover: 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. There are a range of different coverages that account for multiple 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.

Even so, most 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 collision and comprehensive coverages that protect your own car, alongside liability).

Looking specifically at state minimum liability insurance, Farmers Automobile has the significant edge, with average monthly rates coming in at $75. If you want a full coverage policy with the same state minimum limits, Farmers Automobile again has the edge, with policies averaging about $170 per month to Hanover's 1196.

Is Farmers Automobile or Hanover 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 accidents and speeding tickets on your record, but which of these two companies offers the cheapest prices to drivers with less-than-ideal driving records?

Which Company is Best for Drivers with Speeding Tickets?

Policyholders who use Farmers Automobile for their insurance can normally expect their monthly bill to go up around 20% after getting a speeding ticket. Hanover policyholders can expect a bit more drastic of an increase of about 26%.

However, Farmers Automobile has more affordable premiums for drivers in both categories, offering rates that are 86% and 87% cheaper, respectively, compared to Hanover Insurance.

Which Company is Best for Drivers After an Accident?

After an accident, drivers who have their auto insurance through Farmers Automobile can expect to see around an $30 -- or about 26% -- rise in their car insurance premiums. Drivers who use Hanover for their insurance will see a monthly bill around $326 (or 35%) more expensive after reporting a collision to their auto insurance company.

At the end of the day, drivers who use Farmers Automobile end up with the cheaper prices after an accident, with average prices coming in at $117 compared to Hanover Insurance's $943.

Which Company is Best for Drivers with a DUI?

If you get a DUI charge, you can expect some pretty significant increases in your monthly insurance bill -- usually a lot more than an accident or ticket. On average, Hanover will raise your premiums about 39% after a DUI, while Farmers Automobile's average rates rise by more than 50%.

But if you end up with a DUI charge and are looking for more affordable prices, Farmers Automobile tends to be more affordable for the average driver, with monthly premiums coming in at around $178 to Hanover's 1013.

How does Credit Score Impact Farmers Automobile and Hanover Rates?

You may not have known, but your credit score can come into play when carriers calculate your monthly bill. Certain states and companies do not allow for credit score to be used as an auto insurance factor, but it does affect many drivers out there.

Car insurance carriers argue that those with poor credit scores are less likely to pay their bills on time every month, which raises the risk involved on their end, while the opposite is true for those with good credit.

So, which carrier offers the best premiums for policyholders with good, average, or poor credit?

Which Company is Best for Drivers with Good Credit?

Which Company is Best for Drivers with Bad Credit?

Is Farmers Automobile or Hanover 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 insurance bill. Generally, those who drive less will end up with less expensive prices since there's less of a chance of causing a collision and filing an insurance claim.

For both remote workers and those taking short commutes, Farmers Automobile tends to be the more affordable option. Farmers Automobile's average rates for drivers with 6,000 annual miles come in about $740 cheaper than Hanover. Those who drive 12,000 miles each year can expect to pay around $720 less with Farmers Automobile over Hanover.

Farmers Automobile or Hanover: Compare Rates for Urban, Suburban, and Rural Drivers

Where your home is can have a considerable impact on your monthly car insurance cost. Normally, drivers who live in heavily-populated urban areas will pay quite a bit more than rural policyholders because of the number of vehicles that are on the roads where they live.

Farmers Automobile boasts the lowest average premiums for drivers in every type of area, no matter if it's urban, suburban, or rural.

For drivers in urban ZIP codes, Farmers Automobile Insurance Association's average rates are about $774 less than Hanover Insurance. People who live in suburban areas pay around $750 less with Farmers Automobile compared to Hanover. Those in rural areas can expect to save about $666 with Farmers Automobile compared to Hanover.

Farmers Automobile vs. Hanover 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 auto insurance discounts as possible.

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

Luckily, we did the hard work for you and looked at all of the different discounts Farmers Automobile and Hanover offer their customers so that you can find the company that has the most discounts and, therefore, the largest savings.

Hanover knocks Farmers Automobile out of the park when it comes to the sheer number of discounts available, offering 10 more discounts than Farmers Automobile.

Both companies offer lots of the same discounts -- like advance quote discounts, discounts for being a defensive driver, discounts for being a good student, and multi-policy discounts -- but Hanover also offers discounts for ABS, annual mileage, distant student, and more.

On the other hand, Farmers Automobile has a few proprietary discounts of their own like hybrid vehicle discounts and seat belt discounts.

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

You've seen the effect certain factors have on your car insurance and the different discounts carriers offer. But, at the end of the day, which company is the right one for you and your specific profile and needs?

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

• You will be the only person on the insurance policy.
• You're looking for the best prices on liability only coverage.
• You want to save money while purchasing auto insurance for a teenager.

Hanover might be best for you if...

• You're looking for the carrier with the most discounts.

Hopefully, this guide helps you get a better idea of the difference between Farmers Automobile and Hanover. 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 best way to make sure you're getting the best deal on your auto insurance policy is to compare quotes from several companies, not just Farmers Automobile and Hanover. Luckily, Compare.com makes it easy for you to do just that. Just enter your ZIP code below and get free quotes from dozens of the top insurance carriers in your area, all in just a few minutes.

Farmers Automobile vs. Hanover FAQs

Is Farmers Automobile or Hanover cheaper?

Farmers Automobile is the less expensive of the two companies when looking at national average premiums, with policies averaging $123 a month with Farmers Automobile and $853 for Hanover. Even so, that doesn't mean Farmers Automobile will be the cheapest company for everyone, since there are a variety of different variables that come into play when it comes to your auto insurance bill.

Who is better, Farmers Automobile or Hanover?

Sadly, the real answer is "it depends.". Neither carrier is "better" for everyone -- it all depends on what your unique car insurance profile looks like.

Why do Farmers Automobile and Hanover offer me different rates?

Insurance carriers use lots of different factors when determining the rates they charge. Variables such as gender, age, where you park your car, your driving record, and sometimes even things like your credit score can all be taken into consideration. Both Farmers Automobile and Hanover calculate premiums using different formulas, so it's likely they'll offer different prices. The best way to determine which company is the lowest for you is by comparing personalized quotes from several different companies.

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

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