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

Quick Facts

• In general, Farmers offers significantly more affordable rates than Southern
• Farmers offers more affordable premiums for policyholders who are looking to purchase insurance with a spouse
• Southern has cheaper prices in AL, GA, and TN

Farmers or Southern: 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 your search down to Farmers or Southern as your top options, but between the two, which carrier has less expensive rates for car insurance?

As you can see, Southern is quite a bit more expensive than Farmers, with premiums averaging $322 a month compared to just $203 with Farmers when looking at the national average rates for auto insurance.

Even so, that doesn't mean Farmers will necessarily be more affordable than Southern for each driver. Car insurance carriers vary their rates depending on things like where you live, how old you are, how clean your driving record is, how good your credit score is, and tons of other factors, so prices will vary quite a bit from person to person.

Wanting to know if Farmers or Southern 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. Southern: Average Car Insurance Rates by State

Farmers and Southern only compete against each other in two states, with Farmers offering cheaper rates to the average driver in all of them. Tennessee has the most noticable difference, where Farmers prices are $96 less expensive than auto insurance premiums at Southern.

But there's more to calculating insurance prices than just your home state. Read on to find out more.

Which is the Best Company For Young Drivers?

You might already know that teen drivers usually pay a lot more for auto insurance than any group on the road. It's because teen drivers are statistically much more likely to get into an accident that results in a car insurance claim, making them much riskier to insure.

But 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 Farmers for their car insurance pay over 25% less than those who use Southern. It's worth noting that Farmers offers auto insurance in 25 different states compared to Southern's three, which can skew the average rates a bit, but the difference here is still considerable.

That being said, with both companies, you'll see your premiums lower significantly once you turn 25. For example, average rates for Farmers policyholders drop more than 70% and Southern's prices decrease over 60% over that time.

Which is the Best Company for Retired Drivers?

Drivers around retirement age normally enjoy some of the most affordable insurance rates you'll ever see. After all, they've likely been driving for quite some time, which typically decreases their chances of collisions and other infractions that can raise prices.

When looking at Farmers and Southern specifically, which carrier is best for retired drivers? Farmers gets the edge here, with average premiums coming in at around $143 a month compared to Southern's $254.

Which is the Best Company for Married Drivers?

You may not be aware, but car insurance rates tend to be more expensive for single drivers than they are for married couples. That's generally because married policyholders tend to own and insure more than one vehicle, which can often earn you a discount.

For single policyholders, the difference in average prices between these two carriers is significant, with Farmers premiums coming in at a third less than Southern's. The advantage is also clear for married drivers - Farmers offers the cheapest average rates.

Farmers or Southern: Average Rates by Gender

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

Women generally pay about 3% per month less than men with Farmers, and around 11% less with Southern.

When it comes to the lowest prices for each gender, Farmers offers the cheapest average premiums for both men and women. On average, women save about $104 a month and men save about $133 with Farmers compared to the average Southern policyholder.

Farmers vs. Southern: 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, car insurance can be pretty complicated. There are so many different coverages and terms that it can make it pretty confusing to find the right policy for you.

The two most common 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 collision and comprehensive coverages that protect your own car, in addition to liability coverage).

Looking specifically at state minimum liability insurance, Farmers has the significant edge, with average monthly prices coming in at $126. If you want a full coverage policy with the same state minimum limits, Farmers again has the edge, with policies averaging around $281 per month to Southern's $452.

Is Farmers or Southern Better for Drivers with Spotty Records?

You've probably seen plenty of commercials from insurance companies offering great rates for good drivers, but that doesn't mean people with less-than-perfect driving records can't save money, too.

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

Which Company is Best for Drivers with Speeding Tickets?

Policyholders who use Farmers for their auto insurance can typically expect their monthly bill to go up about 21% after getting a speeding ticket. Southern policyholders can expect a less drastic increase of around 7%.

However, Farmers is usually the more affordable option for both drivers who have a recent ticket and those with clean records, offering premiums that are $54 and $27 less expensive, respectively, compared to Southern Insurance Company of Virginia.

Which Company is Best for Drivers After an Accident?

Both carriers will increase prices pretty significantly if you get into an at-fault collision with Southern raising by about 26%. Farmers has a less extreme increase, but you can still expect to pay nearly 30% more than you were prior to your first accident.

At the end of the day, the cheaper premiums come from Farmers, with average prices coming in at $224 compared to Southern Insurance Company of Virginia's $293.

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 speeding ticket when it comes to your car insurance bill. For example, Southern increases average rates by nearly $350 a month -- that's more than a 60% increase.

Farmers has the overall most affordable premiums 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 three for Southern, so the data may be skewed slightly.

How does Credit Score Impact Farmers and Southern Rates?

Did you know many insurance companies take into account your credit score when determining prices? This isn't true for everyone (California, for example, has banned the use of credit score as an insurance factor) but it might come into play for lots of drivers.

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

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

Which Company is Best for Drivers with Good Credit?

If you have a great credit score, Farmers will generally reward you the most. For drivers with "excellent" credit scores, Farmers comes in over 25.11 more affordable. Drivers with "good" credit scores typically save around 29% with Farmers compared to average premiums from Southern.

Which Company is Best for Drivers with Bad Credit?

Farmers typically offers lower rates than Southern when it comes to drivers with a below average credit score. Drivers with "fair" credit pay about 36% per month less with Farmers compared to Southern, and those with "poor" scores normally save an average of around 47% monthly.

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

Did you know that the amount of time you spend in your car have a considerable impact on your monthly insurance payment? Usually, 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 Southern, with policyholders who drive the least paying about $30 less each month compared to those who drive 12,000 miles every year. Still, for drivers in both categories, Farmers is the less expensive company.

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

Where you park your vehicle can play a sizable role in how much you pay for car insurance. Generally, policyholders who live in less densely populated rural areas will pay quite a bit less than urban drivers because of the small number of cars that are on the roads where they live.

Farmers boasts the cheapest average prices for drivers in all types of areas, no matter if they're urban, suburban, or rural.

For policyholders in urban ZIP codes, Farmers Insurance's average premiums are around 36% less than Southern Insurance Company of Virginia. People who live in suburban areas pay about 32% less with Farmers compared to Southern. Those in rural areas can expect to save around 43% with Farmers compared to Southern.

Farmers vs. Southern 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, and the best way to do that is by utilizing as many car insurance discounts as possible.

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

Luckily, we did the hard work for you and looked at all of the different discounts Farmers and Southern offer their customers so that you can easily see which company offers the most discounts and, therefore, the largest savings.

Farmers knocks Southern out of the park when it comes to the sheer number of discounts available, offering 28 different discounts to Southern's 20.

There are a couple discounts both companies offer, but Farmers also offers discounts for alternative fuel, distant student, EFT, and more.

On the other hand, Southern has a few proprietary discounts of their own for things like experienced operator discounts, family discounts, hybrid vehicle discounts, and more.

Final Thoughts: Is Farmers or Southern Best for You?

You've seen the effect certain variables have on your insurance and the different discounts carriers offer. But, when it comes down to it, is Farmers or Southern the best one for you, your vehicle, and your wallet?

Farmers might be best for you if....

• You've been pulled over for speeding recently.
• You're looking for the best prices on liability only coverage.
• You live in a rural area.

Southern might be best for you if...

• You're looking for the best rates in AL, GA, and TN.

Hopefully, this guide helps you get a better idea of the difference between Farmers and Southern and that it aids in making a more informed decision about your car insurance.

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

Farmers vs. Southern FAQs

Is Farmers or Southern cheaper?

Farmers is the cheaper of the two companies when looking at national average rates, with policies averaging $203 a month with Farmers and $322 for Southern. But that doesn't mean Farmers will be the lowest carrier for each driver, since there are several different factors that are considered when it comes to your car insurance bill.

Who is better, Farmers or Southern?

Sadly, the answer truly is "it depends.". Neither company is "better" for every policyholder -- it all boils down to your unique insurance profile.

Why do Farmers and Southern offer me different rates?

Auto insurance carriers use many different variables when calculating the premiums they charge. Factors such as gender, your driving record, age, where your home is, and sometimes even things like your credit score can all be taken into consideration. Both Farmers and Southern use different formulas, so it's likely they'll offer different rates. The best way to determine which carrier is the most affordable for you is by comparing personalized quotes from multiple different companies.

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

The only way to find the car 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 do all the hard work for you. Just enter your ZIP code and you'll get quotes from dozens of your local top insurance companies for free. With those, you can guarantee you're getting the best rate. And maybe you'll find that the best carrier for you isn't Farmers or Southern 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.