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

Quick Facts

• In general, Farmers offers significantly less expensive premiums than Metlife
• Farmers offers more affordable rates for residents of rural areas
• Metlife offers more discounts than Farmers Insurance

Farmers vs. Metlife: Which Company has the Cheapest Car Insurance?

So, you're thinking about switching your auto insurance. You've probably seen commercials and billboards from companies offering huge discounts, but exactly how much money can you save by switching?

You've maybe even narrowed it down to Farmers or Metlife as potential options, but between the two, which one will save you the most?

Looking at the national average rates for both companies, Metlife has average rates that are about 40% per month more expensive than those from Farmers.

However, that doesn't necessarily mean Farmers will be the more affordable option for every single driver. Car insurance carriers vary their prices depending on things like how good your credit score is, how old you are, where you live, how clean your driving record is, and tons of other factors. So, at the end of the day, premiums from each carrier will differ quite a bit from person to person.

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

Farmers or Metlife: Average Car Insurance Rates by State

Farmers and Metlife compete against each other in 23 states, with Farmers offering cheaper prices to the average driver in all but two of them. If you live in Michigan or New Mexico, Metlife is the less expensive of the two companies when looking at the overall average rates, but Farmers is the cheaper option in most of the others.

There are plenty of other factors that go into your insurance payment than just where you call home. Keep reading to find out more.

Which is the Best Company For Young Drivers?

Young drivers -- especially teens -- normally pay a lot for car insurance compared to older drivers. That's because young, inexperienced 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 premiums, teen drivers can still find ways to save money. As you can see above, teens who use Farmers save nearly $450 a month compared to those who use Metlife.

But with both carriers, you'll see your rates decrease significantly by the time you turn 25. For example, average premiums for Farmers policyholders drop almost $400 and Metlife's prices reduce more than $500 over that time.

Which is the Best Company for Retired Drivers?

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

When looking at Farmers and Metlife specifically, which carrier is best for retired drivers? Farmers gets the edge, with prices for drivers 65 and older over 30% cheaper than the national average for Metlife.

Which is the Best Company for Married Drivers?

Did you know that auto insurance premiums are usually more affordable for married couples than they are for those who are single? This usually boils down to married policyholders having several cars on their policy -- something a lot of car insurance companies will reward with discounts.

When it comes to relationship status, Farmers is the clear winner for single drivers, with prices around $189 per month cheaper than Metlife, on average. The advantage for married drivers with Farmers is also obvious, where drivers save about $70 a month.

Farmers vs. Metlife: Average Rates by Gender

Did you know men typically pay more for insurance than women? This is because women are less likely to get into accidents and get speeding tickets, which lowers the chances of an insurance claim.

On average, men see rates around 3% per month higher with Farmers, and nearly 10% with Metlife.

When it comes to the cheapest prices for each gender, Farmers comes out on top for both men and women. On average, male drivers save about $147 a month and women save about $126 with Farmers compared to the average Metlife policyholder.

Farmers or Metlife: 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 auto insurance can be pretty complicated. There are so many different terms and coverages that it can make it pretty confusing to find the right policy.

The two most common policies that many drivers look at fall into two categories -- liability only (which covers the other party's property damage and injuries if you cause an accident) and full coverage (which includes two additional coverages -- comprehensive and collision -- in addition to liability).

If you're looking for state minimum limits for liability insurance, Farmers generally offers significantly more affordable premiums of $126 compared to Metlife's $215. When it comes to full coverage policies with similar limits, Farmers again has the edge, with policies around $200 per month less expensive than Metlife, on average.

Is Farmers or Metlife Better for Drivers with Spotty Records?

It's no big secret that drivers who are accident-free get better deals on their car insurance. But even if you have a spotty record, you can still find plenty of ways to save some cash on your monthly bill.

It's no secret secret that at-fault accidents and tickets lead to higher rates, but which company -- Farmers or Metlife -- has the lowest prices for drivers with less-than-perfect records?

Which Company is Best for Drivers with Speeding Tickets?

Farmers policyholders can expect their rates to go up an average of $44 a month if they get a ticket, while Metlife usually raises premiums about $59 per month, on average.

That being said, Farmers has more affordable prices for drivers in both categories, offering rates that are 26% and 26% cheaper, respectively, compared to MetLife.

Which Company is Best for Drivers After an Accident?

Farmers drivers who get in a collision can expect to see their premiums climb by over $60, while those who have insurance through Metlife will see around a $150 increase.

Overall, Farmers offers the cheapest rates for drivers with an at-fault accident on their records, with monthly premiums averaging $224 compared to MetLife's $368.

Which Company is Best for Drivers with a DUI?

If you get a DUI charge on your record, it's probably going to cost you more than a simple speeding ticket or even an accident. On average, Metlife will climb your prices about 55% after a DUI, while Farmers's average premiums increase by over 25%.

If you have a DUI on your record and are looking for more affordable prices, Farmers tends to be the much less expensive option with average rates of $221 monthly compared to $494 from Metlife.

How does Credit Score Impact Farmers and Metlife Rates?

Often times, your credit score can be used as one of the factors to calculate your monthly insurance premiums. Certain states and carriers do not allow for credit score to be used as a rating factor, but it does affect many policyholders out there.

Car insurance companies argue that someone with good credit is more likely to pay their bills on time, which makes them less risky to insure. Because of that, drivers with good credit will often be rewarded with more affordable prices.

So, which carrier offers the best rates for policyholders with good, average, or poor credit?

Which Company is Best for Drivers with Good Credit?

If you have great credit, you'll usually find a better deal with Farmers. Drivers with "excellent" credit can save more than 25% compared to Metlife, and those with "good" scores can also expect to see savings -- around $89 or 32% less expensive every month.

Which Company is Best for Drivers with Bad Credit?

Farmers typically offers lower prices than Metlife when it comes to drivers with less-than-stellar credit. Drivers with "fair" credit pay about $130 a month less with Farmers compared to Metlife, and those with "poor" scores typically save an average of around $274 per month.

Is Farmers or Metlife 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 carriers will charge for coverage. That's because the more miles you put on your vehicle, the more likely you are to get into a collision and cause 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 rates for Metlife, with policyholders who drive 6,000 miles each year paying about $3 less every month compared to those who drive 12,000 miles annually. Still, Farmers is the cheaper option for drivers in both categories.

Farmers vs. Metlife: 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 car insurance, but the type of area you live in can have a sizable impact as well. Normally, those who live in urban areas will pay more than policyholders in rural areas because of the number of cars that are on the roads in those areas.

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

For drivers in urban ZIP codes, Farmers offers premiums around $251 a month compared to Metlife's $389. People who live in suburban ZIP codes can expect to pay about $189 per month for Farmers and $333 for Metlife. Lastly, those in rural areas tend to get the lowest rates from both companies, with average monthly prices coming in at $170 and $299 for Farmers and Metlife respectively.

Farmers vs. Metlife Discounts

Regardless of 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 possible, and the best way to do that is by utilizing as many insurance discounts as you can.

But where do you even start? With so many discounts out there, it may seem difficult to find all the of the ones you can take advantage of.

In the section below, we've compared all of the different discounts offered by Farmers and Metlife so that you can find the company that has the most discounts and, therefore, the biggest savings.

Metlife knocks Farmers out of the park when it comes to the sheer number of discounts available, offering 36 different discounts to Farmers's 36.

A couple of those are overlapping for things like anti-theft discounts, distant student discounts, EFT discounts, and group discounts. Metlife also offers AAA discounts, academic discounts, agency transfer discounts, and more that Farmers does not.

On the flip side, Farmers has a couple unique discounts of its own -- advance quote discounts, alternative fuel discounts, discounts for getting driver training, and more.

Final Thoughts: Is Farmers or Metlife Best for You?

So, we've broken down the average premiums for many of the variables auto insurance carriers look at, and we've shown you all the discounts each carrier offers. That's all well and good, but at the end of the day, which company is the right carrier for you and your specific profile and needs?

Farmers might be best for you if....

• You have a DUI charge on your record.
• You're looking for more protection with "full coverage" car insurance.
• Your neighborhood is in a rural area.

Metlife might be best for you if...

• You want to save extra money with discounts.

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

At the end of the day, the sure-fire way to make sure you're getting the best deal on your auto insurance policy is to compare quotes from a handful of companies, not just Farmers and Metlife. 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 top insurance carriers in your area, all in just a few minutes.

Farmers vs. Metlife FAQs

Is Farmers or Metlife cheaper?

Looking just at the national average rates, Farmers is the less expensive of the two companies, offering average rates of $203 a month compared to $340 for Metlife. Even so, Farmers won't necessarily be the most affordable carrier for each 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 Metlife?

Sadly, the real answer is "it depends.". No one company is necessarily "better" for everyone -- it all boils down to your unique car insurance profile.

Why do Farmers and Metlife offer me different rates?

Insurance carriers take a look at quite a few different variables when calculating the prices they charge policyholders. Things such as your driving record, gender, where you call home, age, and sometimes even things like your credit score can all be used. Both Farmers and Metlife use different formulas, so each one will most likely offer different rates. The only real way to see which carrier is the cheapest for you is by comparing personalized quotes from several different companies.

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

The only way to find the auto insurance company that's right for you is by getting quotes from several carriers 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 area information and you'll get free quotes from dozens of the best car insurance companies in your area. That way, you can guarantee you're getting the best price. And who knows, the best carrier for you might not be Farmers or Metlife at all!

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.