Farmers vs. Grinnell Mutual: Which Company is the Best Fit for You?

Quick Facts

• Looking at the national averages for auto insurance, Grinnell Mutual offers significantly cheaper rates than Farmers
• Farmers may help you save more money -- they offer more discounts than Grinnell Mutual
• Grinnell Mutual tends to be a much less expensive option for policyholders who live in rural neighborhoods

Farmers or Grinnell Mutual: Which Company has the Cheapest Car Insurance?

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

You've maybe even narrowed it down to Farmers or Grinnell Mutual for your next policy, but which one will offer you more affordable prices?

Looking at nationwide averages, Grinnell Mutual is quite a bit cheaper than Farmers, with premiums averaging $115 a month compared to $203 with Farmers.

However, Grinnell Mutual may not be the cheapest or best option for every driver out there. After all, car insurance carriers can offer drastically different rates to every driver depending on rating factors like your age, where you call home, your driving record, or even your credit score (among other things), so prices could change drastically from person to person.

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

Farmers vs. Grinnell Mutual: Average Car Insurance Rates by State

Farmers and Grinnell Mutual only compete against each other in North Dakota, where Grinnell Mutual offers the cheaper average prices. Grinnell Mutual drivers tend to pay about $37 per month less on average compared to drivers who use Farmers for their auto insurance.

That being said, there are plenty of other factors that go into your car insurance payment than just where you call home. Read on to find out more.

Which is the Best Company For Young Drivers?

You might already know that teen drivers typically pay a lot more for insurance than any other group of drivers. The reason is that teen drivers are statistically much more likely to get into accidents since they have less experience on the roads.

Even so, that doesn't mean that teen drivers have to just accept sky-high auto insurance premiums. For example, 18-year-old drivers pay an average of over 60% less a month by choosing Grinnell Mutual over Farmers. It's worth noting that Farmers offers insurance in 25 different states compared to Grinnell Mutual'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. Grinnell Mutual offers the steepest drop, with 25-year-olds paying less than half what 18-year-old drivers are charged. Farmers's average premiums drop more than 70% during that same period.

Which is the Best Company for Retired Drivers?

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

So, which carrier offers the best rates to retired drivers? Grinnell Mutual gets the edge, with prices for drivers 65 and older almost 45% less expensive than the national average for Farmers.

Which is the Best Company for Married Drivers?

You may not be aware, but auto insurance premiums tend to be cheaper for married policyholders than they are for single policyholders. That's normally because married drivers tend to own and insure multiple vehicles, which can often earn you a discount.

For those who are single, the difference in average prices between these two carriers is significant, with Grinnell Mutual rates coming in at around half of Farmers's. The advantage is also clear for married couples - Grinnell Mutual offers the most affordable average prices.

Farmers or Grinnell Mutual: Average Rates by Gender

Men are statistically more likely than women to cause a collision and get into accidents. That means when it comes to car insurance men will usually end up paying a little more.

Men generally pay about 3% more per month than women with Farmers, but with Grinnell Mutual, the difference is closer to 5% a month.

Looking at the data for each company specifically, Grinnell Mutual offers the cheapest average rates for both men and women. On average, women save about $88 per month and men save around $89 with Grinnell Mutual compared to the average Farmers policyholder.

Farmers vs. Grinnell Mutual: 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.

For most people, insurance can be pretty complicated. There are so many different coverages and limits that it can make it pretty confusing to find the right policy for you.

But the most common policies that drivers look at fall into two categories -- liability coverage (which covers the other party's property damage and injuries if you cause a collision) and full coverage (which typically refers to having collision and comprehensive coverages alongside what you get with a liability policy).

Looking specifically at state minimum limits for liability insurance, Grinnell Mutual has the significant edge, with average monthly premiums coming in at $47. If you want a full coverage policy with the same state minimum limits, Grinnell Mutual again has the edge, with policies averaging about $183 a month to Farmers's $281.

Is Farmers or Grinnell Mutual Better for Drivers with Spotty Records?

You've probably seen plenty of commercials from auto insurance companies offering great rates for good drivers, but that doesn't mean people with less-than-perfect driving records can't save money, too.

It's no secret secret that speeding tickets and at-fault collisions lead to higher premiums, but which carrier -- Farmers or Grinnell Mutual -- has the lowest prices for drivers with less-than-ideal driving records?

Which Company is Best for Drivers with Speeding Tickets?

Policyholders with Grinnell Mutual car insurance policies don't report seeing their rates increase after getting a ticket, but Farmers policyholders can expect to see their monthly bill increase by around 20%.

Even so, Grinnell Mutual has less expensive premiums for drivers in both categories, offering prices that are $47 and $91 cheaper, respectively, compared to Farmers Insurance.

Which Company is Best for Drivers After an Accident?

After an accident, drivers who have their auto insurance through Farmers can expect to see about an $62 -- or around 28% -- rise in their car insurance rates. Drivers who use Grinnell Mutual for their insurance will see a monthly bill about $0 (or 0%) more expensive after reporting an accident to their auto insurance company.

At the end of the day, the more affordable premiums come from Grinnell Mutual, with average prices coming in at $115 compared to Farmers Insurance's $224.

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 drivers usually see a 27% raise in their car insurance premiums after a DUI charge, while Grinnell Mutual will normally increase prices by around 0%.

Grinnell Mutual has the overall most affordable rates for drivers with a DUI on their records at $115 a month, but it's worth noting that Farmers's average rates come from 25 states compared to just one for Grinnell Mutual, so the data may be skewed slightly.

How does Credit Score Impact Farmers and Grinnell Mutual Rates?

Often times, your credit score can be used as one of the variables to determine your monthly insurance prices. Certain states and carriers do not allow for credit score to be used as an insurance factor, but it will come into play for quite a few drivers.

Car insurance companies argue that those with good credit scores are more likely to pay their bills on time each month, which decreases the risk involved on their end, while the opposite is true for those with bad credit.

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

Which Company is Best for Drivers with Good Credit?

If you have a great credit score, Grinnell Mutual will usually reward you the most. For drivers with "excellent" credit scores, Grinnell Mutual comes in more than 51.22 cheaper. Drivers with "good" credit scores generally save about 48% with Grinnell Mutual compared to average rates from Farmers.

Which Company is Best for Drivers with Bad Credit?

Grinnell Mutual typically offers lower premiums than Farmers when it comes to drivers with a below average credit score. Drivers with "fair" credit pay around 44% per month less with Grinnell Mutual compared to Farmers, and those with "poor" scores typically save an average of about 34% monthly.

Is Farmers or Grinnell Mutual 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 rates. Normally, those who drive fewer miles will end up with more affordable prices since there's less of a chance of causing a collision and filing an insurance claim.

As you can see in the table above, annual mileage doesn't have much of an impact on how much Farmers charges. However, there's a pretty significant difference in monthly premiums for Grinnell Mutual, with policyholders who drive the least paying around $14 less every month compared to those who drive 12,000 miles yearly. Still, for drivers in both categories, Grinnell Mutual is the less expensive company.

Farmers or Grinnell Mutual: Compare Rates for Urban, Suburban, and Rural Drivers

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

Grinnell Mutual tends to offer the lowest prices 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 30% with Grinnell Mutual compared to Farmers. People who live in suburban areas pay around 39% less with Grinnell Mutual compared to Farmers. For policyholders in urban ZIP codes, Grinnell Mutual's average rates are about 56% less than Farmers Insurance.

Farmers vs. Grinnell Mutual Discounts

No matter why you might be in the market for a new car insurance policy, you're always going to want to save as much money as you can, and the best way to do that is by utilizing as many auto insurance discounts as possible.

But where do you even start? With so many discounts out there, it may seem hard to find all the of the ones you qualify for.

Luckily, we did the hard work for you and compared all of the different discounts offered by Farmers and Grinnell Mutual so that you can easily see which company offers the most discounts and, therefore, the largest savings.

Farmers blows Grinnell Mutual away when it comes to the sheer amount of discounts available, offering 28 different discounts to Grinnell Mutual's 12.

A couple of those are overlapping for things like ABS discounts, discounts for being a defensive driver, discounts for being a good student, and paid in full discounts. Farmers also offers discounts for advance quote, alternative fuel, distant student, and more.

On the other hand, Grinnell Mutual has a few proprietary discounts of their own for things like excess vehicle discounts, new business discounts, and renewal discounts.

Final Thoughts: Is Farmers or Grinnell Mutual Best for You?

So, you've seen how different factors can affect your insurance prices. We've shown you all the discounts each carrier offers, too. But, when it comes down to it, is Farmers or Grinnell Mutual the right company for you and your specific profile and needs?

Grinnell Mutual might be best for you if....

• You will be the only person on the car insurance policy.
• You have above-average credit.
• You're of retirement age and want to take advantage of lower premiums.

Farmers might be best for you if...

• You're planning on moving to another state soon -- Grinnell Mutual only offers policies to North Dakota residents.
• You want to save extra money with discounts.

Hopefully, this guide helps you get a good idea of the differences between Farmers and Grinnell Mutual. We also hope we've given you the information you need to make the best decision about your auto insurance.

At the end of the day, the best way to make sure you're getting the best deal on your insurance policy is to compare quotes from a handful of carriers, not just Farmers and Grinnell Mutual. Luckily, sites like Compare.com make it easy for you to do just that. Just enter your ZIP code below and get free quotes from dozens of top car insurance companies in your area, all in just a few minutes.

Farmers vs. Grinnell Mutual FAQs

Is Farmers or Grinnell Mutual cheaper?

Grinnell Mutual is the cheaper of the two carriers when looking at national average rates, with policies averaging $115 a month with Grinnell Mutual and $203 for Farmers. But that doesn't mean Grinnell Mutual will be the most affordable company for each driver, since there are lots of different variables that come into play when it comes to your auto insurance cost.

Who is better, Farmers or Grinnell Mutual?

Unfortunately, the real answer is "it depends.". No single carrier is "better" for every policyholder -- it all comes down to what your unique insurance profile looks like.

Why do Farmers and Grinnell Mutual offer me different rates?

Auto insurance companies use many different factors when determining the prices they charge. Things like gender, your driving record, where you live, age, and sometimes even things like your credit score can all be taken into consideration. Both Farmers and Grinnell Mutual use different formulas, so it's likely they'll offer different premiums. The best way to determine which company is the lowest for you is by comparing personalized quotes from many different carriers.

How do I know if Farmers or Grinnell Mutual 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 do all the hard work for you. Just enter your ZIP code and you'll get quotes from dozens of your local top car insurance carriers for free. That way, you can guarantee you're getting the best rate. And maybe you'll find that the best company for you isn't Farmers or Grinnell Mutual 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.