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

Wondering if Farmers or Imt is the best auto insurance carrier for you, your vehicle, and your wallet? We've broken down all the prices and discounts for both companies to help you make a more informed decision. Read on to learn more.
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Quick Facts

  • Based on national averages for car insurance, Imt offers significantly less expensive rates than Farmers
  • Farmers may help you save more money -- they offer more discounts than IMT Insurance
  • Imt offers cheaper average premiums for policyholders whose driving record contains an at-fault collision

Farmers or Imt: Which Company has the Cheapest Car Insurance?

So, you're thinking about switching to a new insurance policy. With so many ads from all sorts of companies offering big savings, you're probably wondering exactly how much you might be able to save.

You've maybe even narrowed it down to Farmers or Imt for your next policy, but between the two, which one will save you the most?

Farmers Imt

Looking at the national average rates for both carriers, Farmers has average rates that are around 45% a month more expensive than those from Imt.

Even so, that doesn't necessarily mean Imt will be the more affordable option for every single driver. Insurance companies use a ton of complex algorithms to determine prices, so depending on where you live or how good your credit score is (among a wide array of other factors), you could see wildly different premiums from the ones above.

Wanting to know if Farmers or Imt 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. Imt: Average Car Insurance Rates by State

State Farmers Imt

Farmers and Imt only compete against each other in three states, with Imt offering less expensive prices to the average driver in all of them. Iowa has the most noticable difference, where Imt rates are $56 cheaper than car insurance premiums at Farmers.

But there's more to auto insurance than just your home state. As we mentioned above, there's a lot of things that go into how insurance carriers calculate your prices. Keep reading to learn more.

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Which is the Best Company For Young Drivers?

Farmers Imt
18-year-old drivers$533$201
25-year-old drivers$155$108

Young drivers -- especially teens -- typically pay a lot for car insurance compared to older drivers. It's because teen drivers are statistically much more likely to get into accidents since they have less experience on the roads.

That being said, that doesn't mean that teen drivers have to just accept sky-high auto insurance rates. As you can see above, teens who use Imt save almost 60% per month compared to those who use Farmers. It's worth noting that Farmers offers car insurance in 25 different states compared to Imt's three, which can skew the average premiums a bit, but the difference here is still considerable.

But both companies will drop rates by the time drivers turn 25. Imt offers the steepest drop, with 25-year-olds paying less than half what 18-year-old drivers are charged. Farmers's average prices decrease over 70% during that same period.

Which is the Best Company for Retired Drivers?

Farmers Imt
65+-year-old drivers$143$82

Once you approach retirement age, you'll generally enjoy the cheapest insurance premiums out there. You've been on the road for years, and all that experience pays off when it comes to your monthly prices for auto insurance.

But who has the best premiums for retired drivers between Farmers and Imt? Imt gets the edge, with rates for drivers 65 and older nearly 45% more affordable than the national average for Farmers.

Which is the Best Company for Married Drivers?

Farmers Imt

Did you know that insurance premiums are usually more expensive for single policyholders than they are for married drivers? That's because policies for married policyholders normally cover more than one vehicle, which several carriers will give you a discount for.

For single drivers, the difference in average rates between these two companies is significant, with Imt prices coming in at about half of Farmers's. The advantage for married couples with Imt is also obvious, where drivers save around $60 a month.

Farmers or Imt: Average Rates by Gender

Farmers Imt

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

On average, men see prices about 3% per month higher with Farmers, and more than 10% with Imt.

When it comes to the most affordable rates for each gender, Imt comes out as the lowest option for both genders, with average prices $92 less for men and $97 cheaper for women.

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Farmers vs. Imt: Compare State Minimum vs. Full Coverage Rates

Farmers Imt
State Minimum*$126$58
Full Coverage**$281$160

*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 car insurance can be a complicated subject for most people. Everyone needs auto insurance, but there are so many different terms and limits that it can be hard to find the right policy for you.

The two most common policies that drivers look at fall into two categories -- liability coverage (that covers property damage and bodily injury for other drivers and their passengers if you cause an accident) 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 limits for liability insurance, Imt has the significant edge, with average monthly rates coming in at $58. If you want a full coverage policy with the same state minimum limits, Imt again has the edge, with policies averaging around $160 a month to Farmers's $281.

Is Farmers or Imt 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.

It's no secret secret that at-fault collisions and speeding tickets lead to higher premiums, but which carrier -- Farmers or Imt -- has the most affordable prices for drivers with less-than-perfect records?

Which Company is Best for Drivers with Speeding Tickets?

Farmers Imt
Clean Record$162$76
1 Speeding Ticket$206$89

Policyholders who use Farmers for their insurance can typically expect their monthly bill to go up about 21% after getting a speeding ticket. Imt policyholders can expect a less drastic increase of around 15%.

However, Imt has cheaper rates for drivers in both categories, offering premiums that are 53% and 57% less expensive, respectively, compared to Farmers Insurance.

Which Company is Best for Drivers After an Accident?

Farmers Imt
Clean Record$162$76
1 At-Fault Accident$224$134

Farmers drivers who get in a collision can expect to see their prices climb by just under 30%, while those who have insurance through Imt will see about a 45% increase.

At the end of the day, Imt offers the lowest premiums for drivers with an at-fault accident on their records, with average rates coming in at $134 compared to Farmers Insurance's $224.

Which Company is Best for Drivers with a DUI?

Farmers Imt
Clean Record$162$76
1 DUI$221$135

On average, a DUI offense is going to cost you much more than a single collision or ticket when it comes to your auto insurance bill. For example, Imt increases average prices by nearly $60 per month -- that's nearly a 45% increase.

Imt has the overall cheapest rates for drivers with a DUI on their records at $135 monthly, but it's worth noting that Farmers's average rates come from 25 states compared to just three for Imt, so the data may be skewed slightly.

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How does Credit Score Impact Farmers and Imt Rates?

Often times, your credit score can be used as one of the variables to determine your monthly insurance premiums. This isn't true for everyone (for example, California and Michigan are two states that ban the practice entirely), but it will come into play for a lot of policyholders.

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.

Looking at Farmers and Imt specifically, which carrier has the best prices for drivers at different credit levels?

Which Company is Best for Drivers with Good Credit?

Farmers Imt
Excellent Credit Score$164$86
Good Credit Score$185$102

If you have great credit, Imt will generally reward you the most. For policyholders with "excellent" credit scores, Imt comes in just under 47.56 more affordable. Drivers with "good" credit scores typically save around 45% with Imt compared to average rates from Farmers.

Which Company is Best for Drivers with Bad Credit?

Farmers Imt
Fair Credit Score$209$108
Poor Credit Score$256$140

Imt typically offers lower premiums than Farmers when it comes to drivers with a below average credit score. Drivers with "fair" credit pay about 48% a month less with Imt compared to Farmers, and those with "poor" scores generally save an average of around 45% per month.

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

Farmers Imt
6,000 Annual Miles$203$109
12,000 Annual Miles$203$109

Did you know that the amount of time you spend in your car have a considerable impact on your monthly rates? Usually, those who drive less will end up with less expensive prices since there's less of a chance of causing an accident and filing an insurance claim.

In this case, neither Farmers or Imt report increasing premiums for drivers with higher annual mileage figures. Even so, Imt comes out as the lowest for drivers at both intervals, whether they put 6,000 or 12,000 miles on their car yearly, with average prices of $109 per month for both.

Farmers or Imt: 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 insurance, but the type of area you live in can have a pretty big impact as well. Normally, drivers who live in less densely populated rural areas will pay quite a bit less than urban policyholders since there are a lot fewer vehicles on the roads where they live.

Farmers Imt
Urban Areas$251$136
Suburban Areas$189$100
Rural Areas$170$90

Imt tends to offer the most affordable rates for drivers in all areas, regardless of if they're urban, suburban, or rural.

For drivers in urban ZIP codes, IMT Insurance's average premiums are about $115 less than Farmers Insurance. People who live in suburban areas pay around $89 less with Imt compared to Farmers. Those in rural areas can expect to save about $80 with Imt compared to Farmers.

Farmers vs. Imt 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. That's where auto insurance discounts comes into play.

The challenging part is finding all of the discounts you can take advantage of, 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 compared all of the different discounts offered by Farmers and Imt 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 Imt
ABS Discount 
Advance Quote Discount 
Alternative Fuel Discount 
Anti-Theft Discount 
Commercial Product Discount 
Defensive Driver Discount
Distant Student Discount
Driver Training Discount
EFT Discount 
ESC Discount 
Good Driving Discount 
Good Payer Discount 
Good Student Discount
Group Discount
Homeowner Discount 
Life Policy Discount 
Loyalty Discount 
Mature Driver Discount 
Minor Child Discount 
Multi-Car Discount 

Farmers blows Imt away when it comes to the sheer amount of discounts available, offering 19 more discounts than Imt.

There are a couple discounts both companies offer, but Farmers also offers discounts for ABS, advance quote, alternative fuel, and more.

On the other hand, Imt has a few proprietary discounts of their own like commercial product discounts and minor child discounts.

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Final Thoughts: Is Farmers or Imt Best for You?

So, you've seen how different factors can affect your insurance rates. We've shown you all the discounts each company offers, too. That's all well and good, but at the end of the day, which insurance carrier is the best fit for you?

Imt might be best for you if....

  • Your driving record contains an at-fault accident.
  • You want the most robust protection via a "full coverage" policy.
  • You have a short commute.

Farmers might be best for you if...

  • You already have plans to move to another state -- IMT Insurance only offers policies in three states.
  • You're looking for discounts -- Farmers has the most.

Hopefully, this guide has ben a valuable resource as you compare Farmers and Imt 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 a handful of carriers, not just Farmers and Imt. Luckily, sites like do all the hard work for you. Simply enter your ZIP codes below and get free quotes from dozens of top insurance companies in your area, all in just a few minutes.

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Farmers vs. Imt FAQs

Is Farmers or Imt cheaper?

Imt is the more affordable of the two carriers when looking at national average prices, with policies averaging $109 a month with Imt and $203 for Farmers. That being said, that doesn't mean Imt will be the lowest company for each policyholder, since there are a bunch of different variables that are considered when it comes to your auto insurance bill.

Who is better, Farmers or Imt?

Sadly, the answer truly is "it depends.". One carrier is not necessarily "better" for everyone -- it all boils down to your unique car insurance profile.

Why do Farmers and Imt offer me different rates?

Insurance companies use many different factors when determining the premiums they charge. Things like gender, where you call home, age, your driving record, and sometimes even things like your credit score can all be used. Both Farmers and Imt calculate prices differently, so it's likely they'll offer different rates. The best way to determine which company is the most affordable for you is by comparing personalized quotes from several different carriers.

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

The only way to find the car 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 make it easy for you to do just that. Just enter your area information and you'll get quotes from dozens of your local top auto insurance carriers for free. That way, you can guarantee you're getting the best price. And maybe you'll find that the best company for you isn't Farmers or Imt at all, but another you hadn't even thought of!


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.

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