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

How do Farmers and Pemco compare when it comes to car insurance prices and discounts? If you want to find out which company has the best premiums for your unique profile, check out our latest guide below.
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Quick Facts

  • Looking at the national averages for auto insurance, Pemco offers significantly cheaper rates than Farmers
  • Farmers offers more discounts than PEMCO Insurance
  • Pemco offers more affordable prices for residents of rural areas

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

So, you're thinking about switching your auto insurance. After all, you've seen ads from all sorts of companies offering sizable discounts. But exactly how much can you save by switching?

You might have narrowed your search down to Farmers or Pemco as your top options, but between the two, which company will save you the most?

Farmers Pemco

As you can see, Farmers is quite a bit more expensive than Pemco, with premiums averaging $203 per month compared to just $107 with Pemco when looking at the national average rates for insurance.

That being said, that doesn't necessarily mean Pemco will be the more affordable option for every single driver. Auto insurance companies use tons of complex algorithms to calculate rates, so depending on how old you are or how good your credit score is (among a whole range of other factors), you could see wildly different prices from the ones above.

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

Farmers or Pemco: Average Car Insurance Rates by State

State Farmers Pemco

Farmers and Pemco only compete against each other in Washington, where Pemco offers the cheaper average rates. For Washington residents, Pemco offers insurance for $107 per month on average. Farmers's average premiums come out to be more expensive, at $118 a month.

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

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Which is the Best Company For Young Drivers?

Farmers Pemco
18-year-old drivers$533$215
25-year-old drivers$155$95

Young drivers -- especially teens -- generally pay a lot for auto insurance compared to older drivers. The reason is that 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.

However, that doesn't mean teen drivers can't still save money on their insurance. Just look at the table above -- where 18-year-old drivers who have Pemco for their car insurance pay more than $300 less than those who use Farmers. It's worth noting that Farmers offers insurance in 25 different states compared to Pemco's one, which can skew the average rates a bit, but the difference here is still considerable.

Even so, both carriers will decrease prices once you turn 25. For example, average rates for Farmers policyholders lower nearly $400 and Pemco's premiums drop over $100 over that time.

Which is the Best Company for Retired Drivers?

Farmers Pemco
65+-year-old drivers$143$91

Drivers around retirement age normally enjoy some of the most affordable car insurance prices you can find. After all, they've likely been driving for quite some time, which typically reduces their chances of accidents and other infractions that can increase premiums.

So, which company offers the best prices to retired drivers? Pemco gets the edge here, with average rates coming in at about $91 monthly compared to Farmers's $143.

Which is the Best Company for Married Drivers?

Farmers Pemco

Did you know that auto insurance premiums are usually more expensive for single drivers than they are for married policyholders? This usually boils down to married drivers having several cars on their policy -- something quite a few car insurance companies will reward with discounts.

When it comes to relationship status, Pemco is the clear winner for those who are single, with prices around $122 a month less expensive than Farmers, on average. The advantage for married couples with Pemco is also obvious, where drivers save more than 40% per month.

Farmers vs. Pemco: Average Rates by Gender

Farmers Pemco

You may not know, but men typically pay more for auto insurance than women do. This is because men are statistically more likely than women to cause a collision and get into accidents, which leads to increased risk for insurers and, therefore, higher rates.

With Farmers, women normally pay about $7 a month less than men, and around $4 with Pemco.

Looking at overall affordability, Pemco comes out as the lowest option for both genders, with average prices 47% less for men and 48% cheaper for women.

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Farmers or Pemco: Compare State Minimum vs. Full Coverage Rates

Farmers Pemco
State Minimum*$126$62
Full Coverage**$281$152

*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.

Insurance can be a complicated subject for most people. There are lots of different coverages that account for a variety of different things. Some protect you and your vehicle, while others only provide coverage for other people's property and health if you cause an accident.

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 a collision) and full coverage (which includes comprehensive and collision coverages that protect your own vehicle, in addition to what you get with a liability policy).

If you're looking for state minimum liability limits, Pemco generally offers significantly cheaper rates of $62 compared to Farmers's $126. When it comes to full coverage policies with similar limits, Pemco again has the edge, with policies about $150 per month less expensive than Farmers, on average.

Is Farmers or Pemco 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.

You'll probably end up paying more with collisions and tickets on your record, but which of these two carriers offers the cheapest premiums to drivers with less-than-perfect records?

Which Company is Best for Drivers with Speeding Tickets?

Farmers Pemco
Clean Record$162$85
1 Speeding Ticket$206$101

Farmers policyholders can expect their rates to go up an average of $44 a month if they get a ticket, while Pemco usually raises premiums around $16 per month, on average.

But Pemco is typically the more affordable option for drivers both with a speeding ticket and with a clean record, offering prices that are 48% and 51% less expensive, respectively, compared to Farmers Insurance.

Which Company is Best for Drivers After an Accident?

Farmers Pemco
Clean Record$162$85
1 At-Fault Accident$224$111

Farmers drivers who get in an accident can expect to see their rates climb by just under 30%, while those who have insurance through Pemco will see about a 25% increase.

Overall, Pemco offers the lowest premiums for drivers with an at-fault accident on their records, with monthly prices averaging $111 compared to Farmers Insurance's $224.

Which Company is Best for Drivers with a DUI?

Farmers Pemco
Clean Record$162$85
1 DUI$221$131

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 ticket. For example, Farmers increases average rates by just under $60 a month -- that's over a 25% increase.

Pemco has the overall cheapest prices for drivers with a DUI on their records at $131 a month, but it's worth noting that Farmers's average rates come from 25 states compared to just one for Pemco, so the data may be skewed slightly.

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How does Credit Score Impact Farmers and Pemco Rates?

Did you know that many insurance companies take your credit score into account when calculating premiums? This isn't always the case (California, for example, has banned the use of credit score as a rating factor) but it will come into play for several policyholders.

Car insurance carriers 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.

Looking at Farmers and Pemco specifically, which carrier has the best premiums for policyholders at different credit levels?

Which Company is Best for Drivers with Good Credit?

Farmers Pemco
Excellent Credit Score$164$63
Good Credit Score$185$82

If you have solid credit, you'll usually find a better deal with Pemco. Drivers with "excellent" credit can save more than 60% compared to Farmers, and those with "good" scores can also expect to see savings -- around $103 or 56% cheaper each month.

Which Company is Best for Drivers with Bad Credit?

Farmers Pemco
Fair Credit Score$209$106
Poor Credit Score$256$178

Pemco typically offers lower rates than Farmers when it comes to drivers with less-than-stellar credit. Drivers with "fair" credit pay about $103 per month less with Pemco compared to Farmers, and those with "poor" scores generally save an average of around $78 monthly.

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

Farmers Pemco
6,000 Annual Miles$203$104
12,000 Annual Miles$203$110

Did you know that the amount of time you spend in your car have a big impact on your monthly insurance payment? Usually, the more miles you put on your car, the more you can expect to pay for auto insurance.

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 prices for Pemco, with drivers who put 6,000 miles on their vehicle every year paying about $6 less each month compared to those who drive 12,000 miles yearly. Still, Pemco is the less expensive option for drivers in both categories.

Farmers vs. Pemco: Compare Rates for Urban, Suburban, and Rural Drivers

Where your home is can play a considerable role in how much you pay for insurance. Typically, if you live in an urban area with more cars on the road, you'll pay a little more for auto insurance, while the opposite is true for people in rural areas.

Farmers Pemco
Urban Areas$251$115
Suburban Areas$189$119
Rural Areas$170$88

When comparing these two companies side-by-side, Pemco generally comes out as the most affordable option for drivers in every type of area, no matter if it's urban, suburban, or rural.

Policyholders in rural ZIP codes see the cheapest premiums from both carriers, but Pemco comes out on top with average rates around $88 per month. Pemco also has more affordable average prices for drivers in urban and suburban ZIP codes -- a $136 and $70 a month respective difference when compared to Farmers policyholders in similar areas.

Farmers vs. Pemco Discounts

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

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

In the section below, we've taken a look at all of the different discounts Farmers and Pemco offer their customers so that you can see which one offers the most discounts and see which ones you might be able to take advantage of.

Farmers Pemco
ABS Discount 
Advance Quote Discount
Alternative Fuel Discount 
Anti-Theft Discount
Defensive Driver Discount
Distant Student Discount
Driver Training Discount 
EFT Discount 
Employee Discount 
ESC Discount 
Good Driving Discount 
Good Payer Discount 
Good Student Discount
Group Discount
Homeowner Discount
Life Policy Discount 
Low Mileage Discount 
Loyalty Discount 
Mature Driver Discount 
Multi-Car Discount 

Farmers blows Pemco away when it comes to the sheer amount of discounts available, offering 28 different discounts to Pemco's 12.

A couple of those are overlapping for things like anti-theft discounts, distant student discounts, discounts for being a good student, and multi-policy discounts. Farmers also offers ABS discounts, alternative fuel discounts, driver training discounts, and more that Pemco does not.

On the flip side, Pemco has a couple unique discounts of its own -- employee discounts and low mileage discounts.

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Final Thoughts: Is Farmers or Pemco Best for You?

You've seen the role certain factors have on your auto insurance and the different discounts companies offer. But, when it comes down to it, which carrier is the right company for you and your specific driver profile?

Pemco might be best for you if....

  • You're single and purchasing car insurance by yourself.
  • You live in an suburban area.
  • You have a short drive to work everyday.

Farmers might be best for you if...

  • You value the experience that comes with a large national insurance company.
  • You want to save extra money with discounts.

We hope this guide has ben a valuable resource as you compare Farmers and Pemco. 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 car insurance -- comparing quotes from multiple carriers, not just Farmers and Pemco. Luckily, does all the hard work for you. Simply enter your ZIP codes below and get free quotes from dozens of top auto insurance companies in your area, all in just a few minutes.

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Farmers vs. Pemco FAQs

Is Farmers or Pemco cheaper?

Looking just at the national average premiums, Pemco is the cheaper of the two carriers, offering average rates of $107 per month compared to $203 for Farmers. That being said, Pemco won't necessarily be the lowest carrier for every driver, since there are several different variables that are considered when it comes to your car insurance cost.

Who is better, Farmers or Pemco?

Sadly, the real answer is "it depends.". No single company is "better" for each driver -- it all boils down to your unique insurance profile.

Why do Farmers and Pemco offer me different rates?

Car insurance companies take a look at lots of different factors when determining the rates they charge drivers. Variables like gender, where you park your car, your driving record, age, and sometimes even things like your credit score can all come into play. Both Farmers and Pemco calculate premiums differently, so each one will most likely offer different rates. The only real way to see which carrier is the most affordable for you is by comparing personalized quotes from many different carriers.

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

The only way to find the auto insurance company that's right for you is by getting quotes from a handful of 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 free quotes from dozens of the best insurance carriers in your area. With those, you can guarantee you're getting the best rate. And who knows, the best carrier for you might not be Farmers or Pemco at all!


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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