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

Quick Facts

• In general, Farmers offers slightly cheaper prices than Hastings Mutual
• Farmers offers more affordable premiums for policyholders who live in urban areas
• Hastings Mutual has more affordable rates for policyholders whose driving record contains an at-fault collision

Farmers or Hastings Mutual: 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 large savings. But exactly how much can you save by switching?

You might be considering Farmers or Hastings Mutual as your top options, but between the two, which company will save you the most?

Looking at nationwide averages, Hastings Mutual is around $8 more a month than Farmers.

But that doesn't mean Farmers will necessarily be less expensive than Hastings Mutual for every driver. Auto insurance carriers vary their prices depending on things like how good your credit score is, how clean your driving record is, how old you are, where you live, and a ton of other factors, so premiums could change drastically from person to person.

Wanting to know if Farmers or Hastings Mutual 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 vs. Hastings Mutual: Average Car Insurance Rates by State

Farmers and Hastings Mutual compete against each other in six states, with Hastings Mutual offering more affordable prices to the average driver in all of them. Ohio has the most noticable difference, where Hastings Mutual rates are $56 cheaper than car insurance prices at Farmers.

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

Which is the Best Company For Young Drivers?

Teen drivers will almost always have the most expensive insurance premiums of any group out there on the road. Usually, that's 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.

But still, even with seemingly sky-high rates, teen drivers can still find ways to save money. For example, 18-year-old drivers pay an average of over 30% less per month by choosing Hastings Mutual over Farmers.

Even so, both companies will offer you dramatically lower prices once you turn 25. For example, average premiums for Farmers policyholders decrease more than 70% and Hastings Mutual's prices reduce over 45% over that time.

Which is the Best Company for Retired Drivers?

When it comes to auto insurance, patience and experience pay off, with drivers around retirement age paying some of the cheapest premiums out there.

When looking at Farmers and Hastings Mutual specifically, which carrier is best for retired drivers? Farmers gets the edge here, with average rates coming in at about $143 per month compared to Hastings Mutual's $167.

Which is the Best Company for Married Drivers?

Married couples tend to get slightly less expensive car insurance premiums than single drivers. That's generally 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 rates between these two carriers is not very significant, with Hastings Mutual prices coming in at around 6% less than Farmers's. But for married policyholders, the advantage is clear - Farmers offers the most affordable average rates.

Farmers or Hastings Mutual: Average Rates by Gender

You may not know, but insurance is normally cheaper for women than it is for men. That's because men are more likely to get into accidents and get tickets, which raises the chances of filing a claim with insurance.

Women typically pay about $7 a month less than men with Farmers, and around $5 with Hastings Mutual.

When it comes to the lowest premiums for each gender, Farmers offers the cheapest average prices for both men and women. On average, women save about $8 per month and men save about $6 with Farmers compared to the average Hastings Mutual policyholder.

Farmers vs. Hastings 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, auto insurance isn't the easiest topic to understand. There are so many different terms and coverages that it can make it pretty confusing to find the right policy for you.

The two most common policies that drivers look at fall into two categories -- liability coverage (which provides property damage and bodily injury coverage for other drivers if you cause a collision) and full coverage (which includes collision and comprehensive coverages that protect your own car, alongside what you get with a liability policy).

When it comes to state minimum liability limits, Farmers has the edge, while Hastings Mutual offers the lowest average premiums for full coverage policies with similar coverage limits. Policyholders looking for basic state minimum coverage can save around $15 with Farmers Insurance, while full coverage comes out to be around $2 cheaper with Hastings Mutual Insurance Company.

Is Farmers or Hastings Mutual 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 speeding tickets and at-fault collisions on your record, but which of these two companies offers the most affordable rates to drivers with less-than-perfect records?

Which Company is Best for Drivers with Speeding Tickets?

Drivers who use Farmers for their insurance can generally expect their monthly bill to go up about 21% after getting a speeding ticket. Hastings Mutual policyholders can expect a less drastic increase of around 16%.

That being said, Hastings Mutual is normally the less expensive option for drivers both with a ticket and with a clean record. With Hastings Mutual Insurance Company, drivers with a clean record can save about $53 a month and drivers with a speeding ticket can save around $77 per month.

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 prices. Drivers who use Hastings Mutual for their insurance will see a monthly bill about $17 (or 13%) more expensive after reporting an accident to their car insurance company.

At the end of the day, drivers who use Hastings Mutual end up with the cheaper prices after an accident, with average rates coming in at $126 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 accident or ticket when it comes to your insurance bill. Hastings Mutual drivers usually see a 77% increase in their auto insurance prices after a DUI charge, while Farmers will usually climb premiums by around 27%.

But if you end up with a DUI charge and are looking for more affordable rates, Farmers tends to be more affordable for the average driver, with monthly premiums coming in at about $221 to Hastings Mutual's $478.

How does Credit Score Impact Farmers and Hastings Mutual Rates?

Did you know many car 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 a car insurance factor, but it might come into play for lots of policyholders.

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.

Looking at Farmers and Hastings Mutual specifically, which one has the best prices for drivers at different credit levels?

Which Company is Best for Drivers with Good Credit?

If you have great credit, Farmers will typically reward you the most. For policyholders with "excellent" credit scores, Farmers comes in NaN cheaper. Drivers with "good" credit scores generally save around 4% with Farmers compared to average premiums from Hastings Mutual.

Which Company is Best for Drivers with Bad Credit?

If you have less-than-stellar credit, it can be somewhat of a toss-up as far as which company offers you the best rates. Drivers with "fair" credit pay about 1% less with Hastings Mutual than Farmers, but those whose credit is considered "poor" have it flipped -- saving around 7% a month with Farmers.

Is Farmers or Hastings 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 how much auto insurance companies will charge for coverage. Typically, those who drive less will end up with more affordable prices since there's less of a chance of causing a collision and filing an insurance claim.

In this case, neither Farmers or Hastings Mutual report increasing premiums for drivers with higher annual mileage figures. Even so, Farmers comes out as the lowest for drivers at both intervals, whether they put 6,000 or 12,000 miles on their vehicle annually, with average rates of $203 per month for both.

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

Where your home is can play a sizable role in how much you pay for insurance. Normally, 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.

Hastings Mutual usually comes out as the less expensive option for drivers in rural and suburban areas, while Farmers wins in urban areas.

Those in rural areas can expect to save about $6 with Hastings Mutual compared to Farmers. People who live in suburban areas pay around $12 less with Hastings Mutual compared to Farmers. For drivers in urban ZIP codes, Farmers Insurance's average premiums are about $40 less than Hastings Mutual Insurance Company.

Farmers vs. Hastings Mutual 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 find all the ones you qualify for or to nail down the company that has the most discounts for your unique driver profile.

Luckily, we did the hard work for you and looked at all of the different discounts Farmers and Hastings Mutual 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.

Farmers blows Hastings Mutual away when it comes to the sheer amount of discounts available, offering 28 different discounts to Hastings Mutual's 10.

Both carriers offer many of the same discounts -- like anti-theft discounts, discounts for being a good driver, and discounts for being a good student -- but Farmers also offers discounts for advance quote, alternative fuel, distant student, and more.

On the other hand, Hastings Mutual has a few proprietary discounts of their own for things like company car discounts, prior carrier discounts, and workloss exclusion discounts.

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

You've seen the role certain variables have on your car insurance and the different discounts companies offer. That's all well and good, but when it comes down to it, which carrier is the best carrier for you and your specific driver profile?

Farmers might be best for you if....

• Your driving record includes a DUI charge.
• You're looking for the best rates on liability only coverage.
• You don't spend much time in your car.

Hastings Mutual might be best for you if...

• You don't have any speeding tickets, DUIs, or at-fault accidents on your record.
• You have received a ticket within the last few years.
• You live in a rural neighborhood.

Hopefully, this guide helps you get a good idea of the differences between Farmers and Hastings Mutual and that you can now make a more informed decision when it comes to your auto insurance.

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

Farmers vs. Hastings Mutual FAQs

Is Farmers or Hastings Mutual cheaper?

Farmers is the more affordable of the two carriers when looking at national average prices, with policies averaging $203 a month with Farmers and $211 for Hastings Mutual. However, that doesn't mean Farmers will be the most affordable company for everyone, since there are a bunch of different factors that come into play when it comes to your car insurance payment.

Who is better, Farmers or Hastings Mutual?

Unfortunately, the real answer is "it depends.". One carrier is not necessarily "better" for each policyholder -- it all depends on the makeup of your unique auto insurance profile. For example, Farmers is cheaper for drivers who have less-than-stellar credit scores, while Hastings Mutual offers less expensive rates for policyholders with an at-fault collision on their record.

Why do Farmers and Hastings Mutual offer me different rates?

Insurance companies use a lot of different variables when calculating the prices they charge. Things such as age, where you call home, gender, your driving record, and sometimes even things like your credit score can all come into play. Both Farmers and Hastings 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 multiple different carriers.

How do I know if Farmers or Hastings Mutual is right for me?

The only way to find the auto insurance carrier that's right for you is by getting quotes from several 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 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 or Hastings 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.