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

Quick Facts

• Based on national averages for insurance, Ohio Mutual offers significantly more affordable prices than Farmers
• Farmers may help you save more money -- they offer more discounts than Ohio Mutual Insurance Company
• Ohio Mutual offers more affordable rates for policyholders who drive fewer than 6,000 miles annually

Farmers or Ohio Mutual: 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 hefty savings, but exactly how much money can you save by switching?

You've maybe even narrowed it down to Farmers or Ohio Mutual as your top options, but which one has cheaper prices for car insurance?

Looking at nationwide averages, Ohio Mutual is quite a bit cheaper than Farmers, with premiums averaging $152 a month compared to $203 with Farmers.

Even so, that doesn't necessarily mean Ohio Mutual will be the less expensive option for each driver. After all, insurance carriers can offer drastically different rates to every driver depending on rating factors like your age, where you call home, your credit score, or even your driving record (among other things), so rates could change drastically from person to person.

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

Farmers vs. Ohio Mutual: Average Car Insurance Rates by State

Farmers and Ohio Mutual only compete against each other in Ohio, where Ohio Mutual offers the cheaper average prices. Ohio Mutual drivers tend to pay about $1 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 payment than just where you live. Read on to learn more.

Which is the Best Company For Young Drivers?

Young drivers -- especially teens -- typically pay a lot for auto insurance compared to older drivers. The reason is that teen drivers are statistically much more likely to get into an accident that results in an 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. For example, 18-year-old drivers pay an average of almost 45% less a month by choosing Ohio Mutual over Farmers. It's worth noting that Farmers offers insurance in 25 different states compared to Ohio Mutual's one, which can skew the average prices a bit, but the difference here is still considerable.

However, 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 Ohio Mutual's premiums reduce around 50% over that time.

Which is the Best Company for Retired Drivers?

Drivers around retirement age usually enjoy some of the lowest auto insurance rates you can find. After all, they've likely been driving for quite some time, which generally lowers their chances of collisions and other infractions that can raise premiums.

So, which carrier offers the best prices to retired drivers? Ohio Mutual gets the edge here, with average rates coming in at about $114 a month compared to Farmers's $143.

Which is the Best Company for Married Drivers?

Those who are single tend to get offered slightly more expensive insurance premiums than married couples. That's normally because married policyholders tend to own and insure several vehicles, which can often earn you a discount.

For single policyholders, the difference in average prices between these two carriers is significant, with Ohio Mutual rates coming in at around 30% less than Farmers's. The advantage for married drivers with Ohio Mutual is also obvious, where drivers save about $25 per month.

Farmers or Ohio Mutual: Average Rates by Gender

Because women are less likely to get into accidents and get speeding tickets, they run a lower risk of filing a claim with insurance. So, insurance companies will tend to charge women less than men.

With Farmers, women typically pay around $7 a month less than men, and about $8 less with Ohio Mutual.

When it comes to the most affordable premiums for each gender, Ohio Mutual offers the cheapest average rates for both men and women, with average prices $51 less for men and $52 cheaper for women.

Farmers vs. Ohio 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.

Car insurance isn't the easiest topic to understand. There are so many different limits and terms that it can make it pretty confusing to find the right policy for you.

The two most common policies end up falling into two different types of coverage -- liability coverage (that covers property damage and bodily injury for other drivers if you cause a collision) and full coverage (which includes two additional coverages -- collision and comprehensive -- in addition to liability coverage).

Looking specifically at state minimum liability limits, Ohio Mutual has the significant edge, with average monthly premiums coming in at $74. If you want a full coverage policy with the same state minimum limits, Ohio Mutual again has the edge, with policies averaging around $230 per month to Farmers's $281.

Is Farmers or Ohio Mutual 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.

You'll probably end up paying more with accidents and speeding tickets on your record, but which of these two carriers offers the lowest prices to drivers with less-than-ideal driving records?

Which Company is Best for Drivers with Speeding Tickets?

Policyholders who use Farmers for their auto insurance can generally expect their monthly bill to go up about 21% after getting a speeding ticket. Ohio Mutual policyholders can expect a less drastic increase of around 20%.

That being said, Ohio Mutual has more affordable rates for drivers in both categories, offering prices that are $78 and $101 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 premiums rise by just under 30%, while those who have insurance through Ohio Mutual will see about a 35% increase.

At the end of the day, drivers who use Ohio Mutual end up with the cheaper prices after an accident, with average rates coming in at $125 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 collision or ticket when it comes to your car insurance bill. For example, Ohio Mutual increases average premiums by more than $200 a month -- that's more than a 70% increase.

Farmers has the overall most affordable rates for drivers with a DUI on their records at $221 per month, but it's worth noting that Farmers's average rates come from 25 states compared to just one for Ohio Mutual, so the data may be skewed slightly.

How does Credit Score Impact Farmers and Ohio Mutual Rates?

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

The reasoning insurance companies use is that drivers with good credit will be more likely to pay their bills on time; so they'll reward them with cheaper rates, while those with poor credit will normally be forced to pay more.

Looking at Farmers and Ohio Mutual specifically, which carrier has the best prices for policyholders at different credit levels?

Which Company is Best for Drivers with Good Credit?

If you have a solid credit score, Ohio Mutual will usually reward you the most. For drivers with "excellent" credit scores, Ohio Mutual comes in over 40.24 cheaper. Drivers with "good" credit scores typically save around 33% with Ohio Mutual compared to average premiums from Farmers.

Which Company is Best for Drivers with Bad Credit?

Ohio Mutual typically offers lower rates than Farmers when it comes to drivers with less-than-perfect credit. Drivers with "fair" credit pay about 27% per month less with Ohio Mutual compared to Farmers, and those with "poor" scores generally save an average of around 9% monthly.

Is Farmers or Ohio 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 car insurance carriers 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 a collision and file an insurance claim.

In this case, neither Farmers or Ohio Mutual report increasing premiums for drivers with higher annual mileage figures. Still, Ohio Mutual comes out as the cheapest for drivers at both intervals, whether they put 6,000 or 12,000 miles on their vehicle each year, with average prices of $152 a month for both.

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

Where you live can play a large role in how much you pay for auto insurance. Normally, policyholders who live in less densely populated rural areas will pay quite a bit less than urban drivers due to the small number of cars that are on the roads where they live.

When comparing these two companies side-by-side, Ohio Mutual usually comes out as the cheapest option 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 14% with Ohio Mutual compared to Farmers. People who live in suburban areas pay around 19% less with Ohio Mutual compared to Farmers. For policyholders in urban ZIP codes, Ohio Mutual Insurance Company's average prices are about 38% less than Farmers Insurance.

Farmers vs. Ohio Mutual Discounts

No matter why you might be in the market for a new insurance policy, you're always going to want to save as much money as you can, and the best way to do that is by taking advantage of as many car insurance discounts as possible.

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

Luckily, we did the hard work for you and broke down all of the different discounts offered by both Farmers and Ohio Mutual so that you can find the company that has the most discounts and, therefore, the largest savings.

Farmers knocks Ohio Mutual out of the park when it comes to the sheer number of discounts available, offering 28 different discounts to Ohio Mutual's 17.

Both carriers offer quite a few of the same discounts -- like advance quote discounts, discounts for being a defensive driver, distant student discounts, and multi-policy discounts -- but Farmers also offers discounts for alternative fuel, driver training, EFT, and more.

On the other hand, Ohio Mutual has a few proprietary discounts of their own for things like attentive driver discounts, continuous insurance discounts, hybrid vehicle discounts, and more.

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

So, you've seen how different factors can affect your auto 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 carrier is the right carrier for you and your specific driver profile?

Ohio Mutual might be best for you if....

• You will be the only person on the car insurance policy.
• You're looking for the best prices on liability only coverage.
• You're married and plan to have both of your names on the vehicle's insurance policy.

Farmers might be best for you if...

• You are considering moving to another state -- Ohio Mutual Insurance Company is only available in Ohio.
• Your driving record includes a DUI charge.
• You're looking for the company with the most discounts.

Hopefully, this guide helps you get a good idea of the differences between Farmers and Ohio Mutual. We also hope we've given you the information you need to make the best decision when it comes to your auto 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 insurance -- comparing quotes from several companies, not just Farmers and Ohio Mutual. Luckily, sites like Compare.com do all the hard work for you. Simply enter your ZIP code below and get free quotes from dozens of the top car insurance carriers in your area, all in just a few minutes.

Farmers vs. Ohio Mutual FAQs

Is Farmers or Ohio Mutual cheaper?

Ohio Mutual is the less expensive of the two companies when looking at national average premiums, with policies averaging $152 per month with Ohio Mutual and $203 for Farmers. But that doesn't mean Ohio Mutual will be the most affordable carrier for every driver, since there are many different variables (things like gender, age, driving record, etc.) that play a role in how much you pay.

Who is better, Farmers or Ohio Mutual?

Unfortunately, the only answer we can give you is "it depends.". No single company is "better" for everyone -- it all boils down to your unique insurance profile. For example, Ohio Mutual is more affordable for drivers with excellent credit, while Farmers offers cheaper rates for drivers with a recent DUI.

Why do Farmers and Ohio Mutual offer me different rates?

Auto insurance carriers use many different factors when determining the premiums they charge. Things such as where your home is, gender, where you park your vehicle, age, and sometimes even things like your credit score can all come into play. Both Farmers and Ohio Mutual calculate prices using different formulas, so it's likely they'll offer different rates. The best way to determine which carrier is the lowest for you is by comparing personalized quotes from lots of different companies.

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

The only way to find the car 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 ZIP code 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 Ohio 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.