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

Quick Facts

• In general, Farmers Automobile offers significantly more affordable premiums than Mercury
• Farmers Automobile offers less expensive average rates for drivers with a DUI
• Mercury may help you save more money -- they offer more discounts than Farmers Automobile Insurance Association

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

So, you're thinking about switching to a new insurance policy. After all, you've seen ads from all sorts of companies offering hefty savings. But exactly how much can you save by switching?

You might be considering Farmers Automobile or Mercury, but which company will save you the most?

As you can see, Mercury is quite a bit more expensive than Farmers Automobile, with prices averaging $295 a month compared to just $123 with Farmers Automobile when looking at the national average rates for car insurance.

That being said, that doesn't mean Farmers Automobile will necessarily be cheaper than Mercury for every driver. Auto insurance carriers vary their premiums depending on things like how good your credit score is, where you live, how clean your driving record is, how old you are, and a ton of other factors, so rates will change quite a bit from person to person.

So, if you want to find out which of Farmers Automobile or Mercury is really the best for you, keep reading to see average prices for each company broken down by a range of different rate factors.

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

Farmers Automobile and Mercury only compete against each other in one states, with Farmers Automobile offering less expensive premiums to the average driver in all of them. Illinois has the most noticable difference, where Farmers Automobile rates are $16 cheaper than car insurance premiums at Mercury.

There's a lot more that goes into your insurance bill than just the state you live in. Read on to learn more.

Which is the Best Company For Young Drivers?

You might already know that teen drivers usually pay a lot more for auto insurance than any other group of drivers. 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 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 Automobile for their car insurance pay over 60% less than those who use Mercury.

Even so, both companies will offer you dramatically lower rates once you turn 25. For example, average premiums for Farmers Automobile policyholders lower more than 60% and Mercury's prices decrease almost 70% over that time.

Which is the Best Company for Retired Drivers?

When it comes to insurance, patience and experience pay off, with drivers around retirement age paying some of the cheapest rates you'll ever find.

But who has the best prices for retired drivers between Farmers Automobile and Mercury? Farmers Automobile gets the edge, with premiums for drivers 65 and older over 55% more affordable than the national average for Mercury.

Which is the Best Company for Married Drivers?

You may not be aware, but auto insurance prices tend to be more expensive for single policyholders than they are for married drivers. This usually boils down to married policyholders having several vehicles on their policy -- something lots of car insurance carriers will reward with discounts.

For single drivers, the difference in average premiums between these two companies is significant, with Farmers Automobile rates coming in at around a third of Mercury's. For married couples, the advantage is clear again - Farmers Automobile has the edge when it comes to average premiums.

Farmers Automobile or Mercury: Average Rates by Gender

Men generally pay more for auto insurance than women. This is because men are statistically more likely than women to get pulled over for speeding or get into a collision, which leads to increased risk for insurers and, therefore, higher prices.

With Farmers Automobile, men typically pay about $1 per month more than women, and around $15 with Mercury.

When it comes to the most affordable rates for each gender, Farmers Automobile offers the lowest average premiums for both men and women. On average, male drivers save about $179 a month and women save about $166 with Farmers Automobile compared to the average Mercury policyholder.

Farmers Automobile vs. Mercury: 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 insurance can be a complicated subject for most people. There are lots 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 an accident.

But most policies end up falling into two different types of coverage -- liability coverage (which provides bodily injury and property damage coverage for other drivers if you cause a collision) and full coverage (which normally refers to having collision and comprehensive coverages in addition to what you get with liability coverage).

Looking specifically at state minimum liability limits, 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 around $170 per month to Mercury's $406.

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

You've probably seen plenty of commercials from car 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 collisions on your record, but which of these two companies offers the cheapest rates to drivers with spotty records?

Which Company is Best for Drivers with Speeding Tickets?

Policyholders who use Farmers Automobile for their auto insurance can generally expect their monthly bill to go up about 20% after getting a speeding ticket. Mercury policyholders can expect a less drastic increase of around 19%.

However, Farmers Automobile is normally the cheaper option for both drivers who have a recent ticket and those with clean records -- their rates are around 63% less expensive for drivers with clean records and 63% more affordable for those with a ticket.

Which Company is Best for Drivers After an Accident?

Farmers Automobile drivers who get in an accident can expect to see their premiums increase by $30, while those who have insurance through Mercury will see about a $100 increase.

At the end of the day, the cheaper prices come from Farmers Automobile, with average rates coming in at $117 compared to Mercury Insurance's $346.

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 speeding ticket when it comes to your insurance bill. Farmers Automobile drivers usually see a 51% increase in their car insurance premiums after a DUI charge, while Mercury will typically raise prices by around 22%.

How does Credit Score Impact Farmers Automobile and Mercury Rates?

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

The reasoning auto insurance carriers use is that drivers with bad credit will be less likely to pay their bills on time; so usually, they'll be asked to pay more, while those with good credit will be rewarded with less expensive prices.

Looking specifically at Mercury and Farmers Automobile, which carrier has the most affordable rates for policyholders at different credit levels?

Which Company is Best for Drivers with Good Credit?

Which Company is Best for Drivers with Bad Credit?

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

How much you drive can have a large impact on your monthly prices. That's because the fewer miles you drive, the less likely you are to be in a collision 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 Mercury charges. However, there's a significant difference in monthly rates for Farmers Automobile, with policyholders who drive the least paying about $21 less every month compared to those who drive 12,000 miles annually. Still, for drivers in both categories, Farmers Automobile is the more affordable carrier.

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

Where you live can have a sizable impact on your monthly insurance cost. 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.

When comparing these two companies side-by-side, Farmers Automobile generally comes out as the cheapest option 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 prices are around $209 less than Mercury Insurance. People who live in suburban areas pay about $183 less with Farmers Automobile compared to Mercury. Those in rural areas can expect to save around $125 with Farmers Automobile compared to Mercury.

Farmers Automobile vs. Mercury Discounts

No matter why you might be in the market for a new auto 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.

The hard part is finding all of the discounts you're eligible for, since it can feel sometimes like every carrier has different discounts and each one is advertised differently.

Luckily, we did the hard work for you and broke down all of the different discounts offered by both Farmers Automobile and Mercury so that you can find the one that has the most discounts and, therefore, the largest savings.

Mercury knocks Farmers Automobile out of the park when it comes to the sheer number of discounts available, offering 16 more discounts than Farmers Automobile.

Both carriers offer many of the same discounts -- like discounts for being a defensive driver, discounts for being a good student, and multi-policy discounts -- but Mercury also offers discounts for ABS, continuous insurance, COVID-19 relief, and more.

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

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

So, we've broken down the average premiums for many of the variables auto insurance companies look at, and walked through the different discounts each company offers, too. That's all well and good, but when it comes down to it, is Farmers Automobile or Mercury the best company for you, your vehicle, and your wallet?

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

• You've received a ticket for speeding recently and don't want to see your rates rise.
• You live in an suburban area.
• You live in a rural area.

Mercury might be best for you if...

• You value the experience that comes with a large national insurance carrier.
• You want to save extra money with discounts.

Hopefully, this guide helps you get a better idea of the difference between Farmers Automobile and Mercury and that you can now make a more informed 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 several carriers, not just Farmers Automobile and Mercury. Luckily, sites like Compare.com do all the hard work for you. Just enter your ZIP code below and get free quotes from dozens of the top car insurance companies in your area, all in just a few minutes.

Farmers Automobile vs. Mercury FAQs

Is Farmers Automobile or Mercury cheaper?

Farmers Automobile is the cheaper of the two carriers when looking at national average prices, with policies averaging $123 a month with Farmers Automobile and $295 for Mercury. Even so, that doesn't mean Farmers Automobile will be the lowest company for each policyholder, since there are many different factors that are considered when it comes to your insurance payment.

Who is better, Farmers Automobile or Mercury?

Sadly, the only answer we can give you is "it depends.". No one carrier is "better" for every policyholder -- it all comes down to what your unique car insurance profile looks like.

Why do Farmers Automobile and Mercury offer me different rates?

Auto insurance companies use many different variables when calculating the premiums they charge. Factors such as where you call home, where you park your vehicle, age, gender, and sometimes even things like your credit score can all be taken into consideration. Both Farmers Automobile and Mercury calculate rates differently, so it's likely they'll offer different premiums. 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 Farmers Automobile or Mercury is right for me?

The only way to find the 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 information once and you'll get quotes from dozens of your local top car insurance carriers for free. With those, you can guarantee you're getting the best rate. And maybe you'll find that the best company for you isn't Farmers Automobile or Mercury 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.