Farmers Mutual of Tennessee vs. GEICO: Which Company is the Best Fit for You?

Quick Facts

• In general, Farmers Mutual of Tennessee offers significantly more affordable premiums than GEICO
• Farmers Mutual of Tennessee offers more affordable rates for policyholders who have a short commute
• GEICO may help you save more money -- they offer more discounts than Farmers Mutual of Tennessee

Farmers Mutual of Tennessee or GEICO: Which Company has the Cheapest Car Insurance?

Are you considering a new insurance policy? After all, you've seen ads from all sorts of companies offering huge savings. But exactly how much can you save by switching?

You've maybe even narrowed your search down to Farmers Mutual of Tennessee or GEICO, but between the two, which one will save you the most?

Looking at the national average rates for both carriers, Farmers Mutual of Tennessee is quite a bit cheaper than GEICO, with premiums averaging $100 a month compared to $185 with GEICO.

Even so, Farmers Mutual of Tennessee may not be the cheapest or best option for each driver out there. Car insurance companies vary their prices depending on things like how clean your driving record is, where you live, how good your credit score is, how old you are, and a ton of other factors, so premiums will vary quite a bit from person to person.

Luckily, we've broken down average rates from both Farmers Mutual of Tennessee and GEICO by many different rate factors, so read on to find out which company is the best for you.

Farmers Mutual of Tennessee vs. GEICO: Average Car Insurance Rates by State

Farmers Mutual of Tennessee and GEICO only compete against each other in Tennessee, where Farmers Mutual of Tennessee offers the cheaper average prices. Undefined drivers tend to pay about undefined per month less on average compared to drivers who use undefined for their insurance.

That being said, there are plenty of other factors that go into your auto insurance payment than just where you call home. Read on to find out more.

Which is the Best Company For Young Drivers?

Teen drivers will almost always have the most expensive car insurance rates of any other group of drivers out there on the road. It's because teen drivers are statistically much more likely to cause collisions and other accidents that will result in an insurance claim.

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 40% less a month by choosing Farmers Mutual of Tennessee over GEICO.

That being said, both carriers will drop prices by the time you turn 25. For example, average premiums for Farmers Mutual of Tennessee policyholders decrease around $150 and GEICO's rates lower about $200 over that time.

Which is the Best Company for Retired Drivers?

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

So, which carrier offers the best premiums to retired drivers? Farmers Mutual of Tennessee gets the edge here, with average prices coming in at around $67 a month compared to GEICO's $148.

Which is the Best Company for Married Drivers?

Married policyholders tend to get slightly less expensive insurance premiums than those who are single. This usually boils down to married drivers having more than one vehicle on their policy -- something quite a few auto insurance companies will reward with discounts.

For single drivers, the difference in average rates between these two carriers is significant, with Farmers Mutual of Tennessee prices coming in at about half of GEICO's. For married couples, the advantage is clear again - Farmers Mutual of Tennessee has the edge when it comes to average premiums.

Farmers Mutual of Tennessee or GEICO: Average Rates by Gender

Men are statistically more likely than women to cause a collision and get into accidents. That means when it comes to insurance men will typically end up paying a little more.

Men normally pay over $15 per month more than women with Farmers Mutual of Tennessee, but with GEICO, the difference is closer to $8 a month.

When it comes to the most affordable rates for each gender, Farmers Mutual of Tennessee comes out as the lowest option for both genders. On average, male drivers save about $81 per month and women save around $90 with Farmers Mutual of Tennessee compared to the average GEICO policyholder.

Farmers Mutual of Tennessee vs. GEICO: 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 a bunch of different coverages that account for a range of different things. Some protect you and your car, while others only provide coverage for other people's property and health if you cause a collision.

However, most policies end up falling into two different types of coverage -- liability coverage (which provides bodily injury and property damage coverage for other drivers if you cause an accident) and full coverage (which usually refers to having collision and comprehensive coverages in addition to what you get with liability).

Looking specifically at state minimum limits for liability insurance, Farmers Mutual of Tennessee has the significant edge, with average monthly prices coming in at $44. If you want a full coverage policy with the same state minimum limits, Farmers Mutual of Tennessee again has the edge, with policies averaging about $155 a month to GEICO's $269.

Is Farmers Mutual of Tennessee or GEICO Better for Drivers with Spotty Records?

It's no secret -- drivers with good records end up getting the best deals on their auto 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 rates, but which company -- Farmers Mutual of Tennessee or GEICO -- has the cheapest prices for drivers with less-than-ideal driving records?

Which Company is Best for Drivers with Speeding Tickets?

Policyholders with Farmers Mutual of Tennessee insurance policies don't report seeing their premiums increase after getting a ticket, but GEICO policyholders can expect to see their monthly bill increase by around $35.

But Farmers Mutual of Tennessee tends to offer the best prices for both drivers who have a recent speeding ticket and those with clean records, offering prices that are 25% and 43% more affordable, respectively, compared to GEICO.

Which Company is Best for Drivers After an Accident?

Both companies will raise rates pretty significantly if you get into an at-fault collision with GEICO increasing by about 43%. Farmers Mutual of Tennessee has a less extreme rise, but you can still expect to pay 3% more than you were prior to your first accident.

At the end of the day, Farmers Mutual of Tennessee offers the most affordable premiums for drivers with an at-fault collision on their records, with average prices coming in at $89 compared to GEICO's $200.

Which Company is Best for Drivers with a DUI?

On average, a DUI offense is going to cost you much more than a single accident or ticket when it comes to your car insurance bill. GEICO drivers usually see a 58% increase in their auto insurance rates after a DUI charge, while Farmers Mutual of Tennessee will generally climb premiums by around 37%.

How does Credit Score Impact Farmers Mutual of Tennessee and GEICO Rates?

Did you know many car insurance carriers take your credit score into account when determining rates? Certain states and companies do not allow for credit score to be used as a car insurance factor, but it might come into play for many drivers.

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

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

Which Company is Best for Drivers with Good Credit?

Which Company is Best for Drivers with Bad Credit?

Is Farmers Mutual of Tennessee or GEICO 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 your monthly auto insurance bill. 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.

As you can see in the table above, annual mileage doesn't have much of an impact on how much Farmers Mutual of Tennessee charges. However, there's a small difference in monthly rates for GEICO, with policyholders who drive the least paying about $8 less every month compared to those who drive 12,000 miles annually. Still, for drivers in both categories, Farmers Mutual of Tennessee is the cheaper company.

Farmers Mutual of Tennessee or GEICO: Compare Rates for Urban, Suburban, and Rural Drivers

Where you park your vehicle can have a large impact on your monthly car insurance cost. Normally, policyholders who live in heavily-populated urban areas will pay quite a bit more than rural drivers because of the number of cars that are on the roads where they live.

Farmers Mutual of Tennessee boasts the lowest average prices for drivers in every type of area, no matter if it's urban, suburban, or rural.

In urban areas, Farmers Mutual of Tennessee's average premiums are around $114 while GEICO offers rates about $211. Drivers in suburban ZIP codes pay around $95 with Farmers Mutual of Tennessee compared to GEICO's $185 per month. Those in rural areas can expect to pay about $89 monthly with Farmers Mutual of Tennessee compared to GEICO's $159.

Farmers Mutual of Tennessee vs. GEICO 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 auto insurance discounts as possible.

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

Luckily, we did the hard work for you and broke down all of the different discounts offered by both Farmers Mutual of Tennessee and GEICO so that you can see which carrier offers the most discounts and see which ones you might be able to take advantage of.

GEICO knocks Farmers Mutual of Tennessee out of the park when it comes to the sheer number of discounts available, offering 23 more discounts than Farmers Mutual of Tennessee.

Both companies offer lots of the same discounts -- like discounts for being a defensive driver, discounts for insuring multiple cars with the same company, and multi-policy discounts -- but GEICO also offers discounts for ABS, anti-theft, commercial drivers license, and more.

On the other hand, Farmers Mutual of Tennessee has a proprietary discount of their own -- a forgiveness discounts.

Final Thoughts: Is Farmers Mutual of Tennessee or GEICO Best for You?

So, you've seen how different variables can affect your insurance prices. We've broken down the different discounts each carrier offers, too. But, at the end of the day, which insurance company is the right one for you and your specific needs?

Farmers Mutual of Tennessee might be best for you if....

• You have received a ticket within the last few years.
• You want the most robust protection via a "full coverage" policy.
• You don't spend much time in your car.

GEICO might be best for you if...

• You value the experience that comes with a large national auto insurance carrier.
• You're looking for the company with the most discounts.

Hopefully, this guide helps you get a better idea of the difference between Farmers Mutual of Tennessee and GEICO. We also hope we've given you the information you need to make the best decision about your car 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 carriers, not just Farmers Mutual of Tennessee and GEICO. 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 the top car insurance companies in your area, all in just a few minutes.

Farmers Mutual of Tennessee vs. GEICO FAQs

Is Farmers Mutual of Tennessee or GEICO cheaper?

Farmers Mutual of Tennessee is the less expensive of the two carriers when looking at national average rates, with policies averaging $100 per month with Farmers Mutual of Tennessee and $185 for GEICO. Even so, that doesn't mean Farmers Mutual of Tennessee will be the most affordable carrier for everyone, since there are a variety of different factors (things like gender, age, driving record, etc.) that play a role in how much you pay.

Who is better, Farmers Mutual of Tennessee or GEICO?

Unfortunately, the real answer is "it depends.". One company is not "better" for each policyholder -- it all depends on the makeup of your unique auto insurance profile.

Why do Farmers Mutual of Tennessee and GEICO offer me different rates?

Insurance companies use a lot of different variables when calculating the premiums they charge. Factors like your driving record, gender, where you call home, age, and sometimes even things like your credit score can all come into play. Both Farmers Mutual of Tennessee and GEICO calculate prices using different formulas, so it's likely they'll offer different premiums. The best way to determine which carrier is the lowest for you is by comparing personalized quotes from several different carriers.

How do I know if Farmers Mutual of Tennessee or GEICO 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 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 car insurance carriers for free. That way, you can guarantee you're getting the best rate. And maybe you'll find that the best carrier for you isn't Farmers Mutual of Tennessee or GEICO 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.