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

Quick Facts

• Looking at the national averages for insurance, Indiana Farmers offers significantly less expensive prices than Farmers
• Farmers may help you save more money -- they offer more discounts than Indiana Farmers Insurance
• Indiana Farmers offers cheaper average rates for drivers who have below-average credit

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

So, you're thinking about switching to a new insurance policy. You've probably seen commercials and billboards from companies offering huge savings, but exactly how much money can you save by switching?

You might have narrowed it down to Farmers or Indiana Farmers for your next policy, but between the two, which carrier will save you the most?

Looking at nationwide averages, Farmers has average rates that are around 60% a month more expensive than those from Indiana Farmers.

That being said, Indiana Farmers may not be the lowest or best option for each driver out there. Auto insurance carriers vary their prices depending on things like where you live, how clean your driving record is, how good your credit score is, how old you are, and a ton of other factors, so rates could change drastically from person to person.

Wanting to know if Farmers or Indiana Farmers is really the right company for you? Keep on reading to see how average premiums can change based on all of the factors we've mentioned above.

Farmers vs. Indiana Farmers: Average Car Insurance Rates by State

Farmers and Indiana Farmers only compete against each other in Indiana, where Indiana Farmers offers the cheaper average prices. Indiana Farmers drivers tend to pay about $79 per month less on average compared to drivers who use Farmers for their car insurance.

That being said, there are plenty of other factors that go into your insurance bill than just your home state. Read on to learn more.

Which is the Best Company For Young Drivers?

Teen drivers will almost always have the most expensive auto insurance premiums of any group on the road. That's because teen drivers are statistically much more likely to cause collisions and other accidents that will result in an insurance claim.

However, that doesn't mean that teen drivers have to just accept sky-high insurance rates. As you can see above, teens who use Indiana Farmers save almost 75% a month compared to those who use Farmers. It's worth noting that Farmers offers car insurance in 25 different states compared to Indiana Farmers's one, which can skew the average premiums a bit, but the difference here is still considerable.

Even so, with both companies, you'll see your rates decrease significantly by the time you turn 25. For example, average prices for Farmers policyholders drop over 70% and Indiana Farmers's rates reduce nearly 45% over that time.

Which is the Best Company for Retired Drivers?

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

When looking at Farmers and Indiana Farmers specifically, which carrier is best for retired drivers? Indiana Farmers gets the edge, with premiums for drivers 65 and older almost 55% more affordable than the national average for Farmers.

Which is the Best Company for Married Drivers?

Single drivers tend to get offered slightly more expensive car insurance rates than married couples. This usually boils down to married policyholders having several vehicles on their policy -- something lots of auto insurance carriers will reward with discounts.

For those who are single, the difference in average prices between these two companies is significant, with Indiana Farmers rates coming in at about a third of Farmers's. The advantage is also clear for married drivers - Indiana Farmers offers the most affordable average premiums.

Farmers or Indiana Farmers: Average Rates by Gender

Because women are less likely to get speeding tickets and get into collisions, they have a decreased chance of filing a claim with insurance. So, women tend to get cheaper rates than men.

Women generally pay around 3% per month less than men with Farmers, but with Indiana Farmers, the difference is closer to 8% a month.

Looking at the data for each company specifically, Indiana Farmers offers the lowest average prices for both men and women, with average rates 59% less for men and 62% cheaper for women.

Farmers vs. Indiana Farmers: 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 limits and terms that it can make it pretty confusing to find the right policy for you.

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

Looking specifically at state minimum liability limits, Indiana Farmers has the significant edge, with average monthly prices coming in at $44. If you want a full coverage policy with the same state minimum limits, Indiana Farmers again has the edge, with policies averaging about $118 per month to Farmers's $281.

Is Farmers or Indiana Farmers 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.

It's no secret secret that accidents and speeding tickets lead to higher premiums, but which carrier -- Farmers or Indiana Farmers -- has the most affordable rates for drivers with less-than-ideal driving records?

Which Company is Best for Drivers with Speeding Tickets?

Policyholders who use Farmers for their car insurance can generally expect their monthly bill to go up around 21% after getting a speeding ticket. Indiana Farmers policyholders can expect a less drastic increase of about 17%.

Even so, Indiana Farmers has less expensive premiums for drivers in both categories. With Indiana Farmers Insurance, drivers with a clean record can save around $92 a month and drivers with a ticket can save about $122 per month.

Which Company is Best for Drivers After an Accident?

Farmers drivers who get in an accident can expect to see their prices rise by just under 30%, while those who have insurance through Indiana Farmers will see around a 15% increase.

At the end of the day, drivers who use Indiana Farmers end up with the cheaper prices after an accident, with average premiums coming in at $84 compared to Farmers Insurance's $224.

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 auto insurance bill -- normally a lot more than a collision or speeding ticket. For example, Farmers increases average prices by nearly $60 a month -- that's more than a 25% increase.

Indiana Farmers has the overall cheapest rates for drivers with a DUI on their records at $84 per month, but it's worth noting that Farmers's average rates come from 25 states compared to just one for Indiana Farmers, so the data may be skewed slightly.

How does Credit Score Impact Farmers and Indiana Farmers Rates?

In many cases, your credit score can come into play when carriers determine your monthly bill. Certain states and companies do not allow for credit score to be used as an auto insurance factor, but it might come into play for a lot of policyholders.

Car insurance carriers argue that someone with bad credit is less likely to pay their bills on time, which makes them riskier to insure. Because of that, drivers with bad credit will often be forced to pay more.

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

Which Company is Best for Drivers with Good Credit?

If you have a solid credit score, Indiana Farmers will usually reward you the most. For drivers with "excellent" credit scores, Indiana Farmers comes in nearly 63.41 more affordable. Drivers with "good" credit scores typically save about 63% with Indiana Farmers compared to average prices from Farmers.

Which Company is Best for Drivers with Bad Credit?

Indiana Farmers typically offers lower rates than Farmers when it comes to drivers with less-than-stellar credit. Drivers with "fair" credit pay around 62% per month less with Indiana Farmers compared to Farmers, and those with "poor" scores generally save an average of about 55% a month.

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

How much you drive can have a pretty big impact on how much insurance companies will charge for coverage. That's because the fewer miles you put on your car each year, the less likely you are to be in an accident 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 Farmers charges. However, there's a small difference in monthly premiums for Indiana Farmers, with policyholders who drive 6,000 miles annually paying around $2 less every month compared to those who drive 12,000 miles each year. Still, for drivers in both categories, Indiana Farmers is the cheaper carrier.

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

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

Indiana Farmers tends to offer the most affordable rates for drivers in all types of areas, no matter if they're urban, suburban, or rural.

Those in rural areas can expect to save about 58% with Indiana Farmers compared to Farmers. People who live in suburban areas pay around 56% less with Indiana Farmers compared to Farmers. For policyholders in urban ZIP codes, Indiana Farmers Insurance's average prices are about 65% less than Farmers Insurance.

Farmers vs. Indiana Farmers 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 insurance discounts comes into play.

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

Luckily, we did the hard work for you and broke down all of the different discounts offered by both Farmers and Indiana Farmers 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 Indiana Farmers away when it comes to the sheer amount of discounts available, offering 28 different discounts to Indiana Farmers's eight.

There are a couple discounts both carriers offer, but Farmers also offers discounts for ABS, alternative fuel, anti-theft, and more.

On the other hand, Indiana Farmers has a few proprietary discounts of their own like renewal discounts and select market discounts.

Final Thoughts: Is Farmers or Indiana Farmers Best for You?

So, you've seen how different variables can affect your auto insurance premiums. We've shown you all the discounts each carrier offers, too. But, when it comes down to it, which insurance company is the right fit for you?

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

• You will be the only person on the car insurance policy.
• You want the most robust protection via a "full coverage" policy.
• You live in a rural neighborhood.

Farmers might be best for you if...

• You are considering moving to another state -- Indiana Farmers Insurance is only available in Indiana.
• You care about discounts (Farmers offers the most).

Hopefully, this guide helps you get a better idea of the difference between Farmers and Indiana Farmers and that it aids in making a more informed decision about your 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 several companies, not just Farmers and Indiana Farmers. 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 top auto insurance carriers in your area, all in just a few minutes.

Farmers vs. Indiana Farmers FAQs

Is Farmers or Indiana Farmers cheaper?

Indiana Farmers is the more affordable of the two companies when looking at national average rates, with policies averaging $81 a month with Indiana Farmers and $203 for Farmers. However, that doesn't mean Indiana Farmers will be the cheapest carrier for every driver, since there are multiple different factors (things like age, gender, driving record, etc.) that play a role in how much you pay.

Who is better, Farmers or Indiana Farmers?

Unfortunately, the answer truly is "it depends.". No single company is "better" for each policyholder -- it all depends on what your unique insurance profile looks like.

Why do Farmers and Indiana Farmers offer me different rates?

Car insurance carriers use many different variables when determining the prices they charge. Things like age, your driving record, where you call home, gender, and sometimes even things like your credit score can all be used. Both Farmers and Indiana Farmers calculate premiums using different factors, so it's likely they'll offer different prices. The best way to determine which carrier is the lowest for you is by comparing personalized quotes from many different companies.

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

The only way to find the insurance company 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 makes 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 companies for free. With those, you can guarantee you're getting the best price. And maybe you'll find that the best carrier for you isn't Farmers or Indiana Farmers 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.