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

Quick Facts

• Based on national averages for car insurance, Nodak offers significantly more affordable premiums than Farmers
• Farmers may help you save more money -- they offer more discounts than Nodak Insurance Company
• Nodak has less expensive rates for drivers with a DUI

Farmers or Nodak: 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've maybe even narrowed your search down to Farmers or Nodak as potential options, but between the two, which carrier will offer you cheaper premiums?

Looking at nationwide averages, Farmers has average rates that are around 45% a month more expensive than those from Nodak.

That being said, that doesn't necessarily mean Nodak will be the more affordable option for every driver. Insurance carriers use all sorts of complex algorithms to determine prices, so depending on how clean your driving record is or where you live (among several other factors), you could see wildly different rates from the ones above.

So, if you want to find out which of Farmers or Nodak is really the best for you, keep reading to see average prices for each carrier broken down by several different rate factors.

Farmers vs. Nodak: Average Car Insurance Rates by State

Farmers and Nodak only compete against each other in North Dakota, where Nodak offers the cheaper average rates. Nodak drivers tend to pay about $41 per month less on average compared to drivers who use Farmers for their auto insurance.

There's a lot more that goes into your car insurance cost than just the state you live in. Keep reading to learn more.

Which is the Best Company For Young Drivers?

You might already know that teen drivers typically pay a lot more for auto insurance than any other group of drivers. Generally, that's because teen drivers are statistically much more likely to cause collisions and other accidents that will result in an insurance claim.

Even so, that doesn't mean teen drivers can't still save money on their insurance. As you can see above, teens who use Nodak save almost 60% a month compared to those who use Farmers. It's worth noting that Farmers offers car insurance in 25 different states compared to Nodak's one, which can skew the average premiums a bit, but the difference here is still considerable.

However, both companies will decrease prices by the time drivers turn 25. For example, average rates for Farmers policyholders drop over 70% and Nodak's premiums lower nearly 50% over that time.

Which is the Best Company for Retired Drivers?

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

When looking at Farmers and Nodak specifically, which company is best for retired drivers? Nodak gets the edge, with premiums for drivers 65 and older $59 less expensive than the national average for Farmers.

Which is the Best Company for Married Drivers?

Married policyholders tend to get slightly cheaper car insurance rates than single drivers. That's usually because married couples tend to own and insure more than one vehicle, which can often earn you a discount.

For those who are single, the difference in average premiums between these two carriers is significant, with Nodak prices coming in at about half of Farmers's. The advantage is also clear for married drivers - Nodak offers the cheapest average rates.

Farmers or Nodak: Average Rates by Gender

Men are statistically more likely than women to cause a collision and get into accidents, which means they'll generally end up paying more for auto insurance than women.

Generally, men see premiums around $7 per month higher with Farmers, and about $5 with Nodak.

When it comes to the lowest prices for each gender, Nodak comes out as the most affordable option for both genders. On average, women save about $91 a month and men save around $93 with Nodak compared to the average Farmers policyholder.

Farmers vs. Nodak: 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 isn't the easiest topic to understand. Everyone needs car insurance, but there are so many different coverages and terms that it can be hard to find the right policy for you.

But most 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 includes two additional coverages -- collision and comprehensive -- in addition to liability).

Looking specifically at state minimum limits for liability insurance, Nodak has the significant edge, with average monthly premiums coming in at $36. If you want a full coverage policy with the same state minimum limits, Nodak again has the edge, with policies averaging about $187 per month to Farmers's $281.

Is Farmers or Nodak Better for Drivers with Spotty Records?

It's no secret -- drivers with good records end up getting the best deals on their 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 prices, but which carrier -- Farmers or Nodak -- has the cheapest 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 normally expect their monthly bill to go up around 21% after getting a speeding ticket. Nodak policyholders can expect a less drastic increase of about 16%.

Even so, Nodak tends to offer the best prices for drivers both with clean records and with a ticket, offering premiums that are 44% and 48% less expensive, respectively, compared to Farmers Insurance.

Which Company is Best for Drivers After an Accident?

Farmers drivers who get in an accident can expect to see their prices climb by over $60, while those who have insurance through Nodak will see around a $15 increase.

At the end of the day, drivers who use Nodak end up with the cheaper prices after an accident, with average rates coming in at $107 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 -- usually 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.

Nodak has the overall most affordable premiums for drivers with a DUI on their records at $141 monthly, but it's worth noting that Farmers's average rates come from 25 states compared to just one for Nodak, so the data may be skewed slightly.

How does Credit Score Impact Farmers and Nodak Rates?

Did you know many insurance companies take your credit score into account when determining rates? This isn't true for everyone (Massachusetts, for example, has banned the use of credit score as an auto insurance factor) but it will come into play for a lot of policyholders.

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

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

Which Company is Best for Drivers with Good Credit?

If you have a great credit score, Nodak will typically reward you the most. For policyholders with "excellent" credit scores, Nodak comes in nearly 64.63 more affordable. Drivers with "good" credit scores generally save about 55% with Nodak compared to average prices from Farmers.

Which Company is Best for Drivers with Bad Credit?

Nodak typically offers lower rates than Farmers when it comes to drivers with less-than-stellar credit. Drivers with "fair" credit pay around 47% per month less with Nodak compared to Farmers, and those with "poor" scores usually save an average of about 25% per month.

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

How much you drive can have a big impact on how much auto insurance companies will charge for coverage. Normally, those who drive fewer miles will end up with cheaper prices since there's less of a chance of causing an accident 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 small difference in monthly premiums for Nodak, with policyholders who drive 6,000 miles yearly paying around $7 less each month compared to those who drive 12,000 miles annually. Still, for drivers in both categories, Nodak is the more affordable carrier.

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

Where you live can play a substantial role in how much you pay for insurance. Typically, those who live in urban areas will pay more than drivers in rural areas since there are a lot more cars on the road where they live, which increases the chances of an accident.

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

Those in rural areas can expect to save about 34% with Nodak compared to Farmers. People who live in suburban areas pay around 41% less with Nodak compared to Farmers. For policyholders in urban ZIP codes, Nodak Insurance Company's average rates are about 56% less than Farmers Insurance.

Farmers vs. Nodak 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 car insurance discounts as possible.

The challenging part is finding all of the discounts you qualify for, 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 broke down all of the different discounts offered by both Farmers and Nodak so that you can see which one can save you the most money each month.

Farmers knocks Nodak out of the park when it comes to the sheer number of discounts available, offering 19 more discounts than Nodak.

A couple of those are overlapping for things like EFT discounts, discounts for being a good student, and multi-policy discounts. Farmers also offers discounts for ABS, advance quote, alternative fuel, and more.

On the other hand, Nodak has a proprietary discount of their own -- a low mileage discounts.

Final Thoughts: Is Farmers or Nodak Best for You?

You've seen the effect certain variables have on your auto insurance and the different discounts carriers offer. That's all well and good, but at the end of the day, is Farmers or Nodak the right company for you, your vehicle, and your wallet?

Nodak 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're married and plan to have both of your names on the vehicle's auto insurance policy.

Farmers might be best for you if...

• You already have plans to move to another state -- Nodak Insurance Company only offers policies to North Dakota residents.
• You're looking for discounts -- Farmers has the most.

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

At the end of the day, the sure-fire way to make sure you're getting the best deal on your car insurance policy is to compare quotes from a handful of companies, not just Farmers and Nodak. Luckily, Compare.com makes it easy for you to do just that. Just enter your ZIP code below and get multiple quotes from some of the best auto insurance carriers in your area, all for free.

Farmers vs. Nodak FAQs

Is Farmers or Nodak cheaper?

Nodak is the less expensive of the two companies when looking at national average prices, with policies averaging $111 a month with Nodak and $203 for Farmers. However, that doesn't mean Nodak will be the most affordable company for everyone, since there are lots of different factors that are considered when it comes to your insurance bill.

Who is better, Farmers or Nodak?

Unfortunately, the only answer we can give you is "it depends.". No single carrier is necessarily "better" for everyone -- it all boils down to your unique auto insurance profile.

Why do Farmers and Nodak offer me different rates?

Insurance carriers use lots of different variables when calculating the rates they charge. Things such as your driving record, gender, where you park your vehicle, age, and sometimes even things like your credit score can all be used. Both Farmers and Nodak use different formulas, so it's likely they'll offer different premiums. The best way to determine which company is the cheapest for you is by comparing personalized quotes from many different companies.

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

The only way to find the car insurance carrier 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 information once 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 company for you isn't Farmers or Nodak 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.