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

Quick Facts

• Looking at the national averages for car insurance, Farmers Mutual offers more affordable rates than Imt
• Farmers Mutual has less expensive prices for residents of rural areas
• Imt offers more discounts than Farmers Mutual

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

So, you're thinking about switching your auto insurance. With so many ads from all sorts of companies offering huge discounts, you're probably wondering exactly how much you might be able to save.

You might have narrowed it down to Farmers Mutual or Imt, but between the two, which carrier will offer you cheaper rates?

Looking at nationwide averages, Farmers Mutual is about $19 per month less expensive than Imt.

Even so, Farmers Mutual may not be the cheapest or best option for every single driver out there. After all, insurance companies can offer drastically different rates to each driver depending on rating factors like your age, your credit score, where you call home, or even your driving record (among other things), so premiums could change drastically from person to person.

Wanting to know if Farmers Mutual or Imt is really the right company for you? Keep on reading to see how average prices can change based on all of the factors we've mentioned above.

Farmers Mutual or Imt: Average Car Insurance Rates by State

Farmers Mutual and Imt only compete against each other in one states, with Farmers Mutual offering more affordable rates to the average driver in all of them. Nebraska has the most noticable difference, where Farmers Mutual prices are over 60% cheaper than auto insurance premiums at Imt.

But there's more to car insurance than just where you live. As we mentioned above, there's a lot of things that go into how auto insurance carriers calculate your rates. Read on to find out more.

Which is the Best Company For Young Drivers?

Young drivers -- especially teens -- generally pay a lot for car insurance compared to older drivers. Usually, that's because 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.

But still, even with seemingly sky-high premiums, teen drivers can still find ways to save money. As you can see above, teens who use Farmers Mutual save more than $15 a month compared to those who use Imt.

That being said, both companies will decrease prices by the time you turn 25. Imt offers the steepest reduction, with 25-year-olds paying less than half what 18-year-old drivers are charged. That being said, Farmers Mutual still has the most affordable premiums at $88 per month.

Which is the Best Company for Retired Drivers?

Drivers around retirement age normally enjoy some of the cheapest insurance prices out there. After all, they've likely been driving for quite some time, which typically reduces their chances of accidents and other infractions that can increase rates.

But who has the best premiums for retired drivers between Farmers Mutual and Imt? Farmers Mutual gets the edge here, with average prices coming in at around $61 a month compared to Imt's $82.

Which is the Best Company for Married Drivers?

Did you know that car insurance rates are generally more expensive for single policyholders than they are for married policyholders? That's because policies for married couples normally cover more than one car, which a lot of carriers will offer you a discount for.

When it comes to relationship status, Farmers Mutual is the clear winner for those who are single, with prices about $20 per month more affordable than Imt, on average. The advantage for married drivers with Farmers Mutual is also obvious, where drivers save over 20% a month.

Farmers Mutual vs. Imt: Average Rates by Gender

Men are statistically more likely than women to get into collisions and file an insurance claim. That means when it comes to auto insurance men will typically end up paying a little more.

Men usually pay nearly $10 per month more than women with Farmers Mutual, and more than $10 with Imt.

Looking at overall affordability, Farmers Mutual comes out on top for both men and women, with average premiums 18% less for men and 17% cheaper for women.

Farmers Mutual or Imt: 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.

It's no secret that insurance can be a complicated subject for most people. Everyone needs car insurance, but there are so many different coverages and terms that it can be hard to find the right policy.

However, most policies that many drivers look at fall into two categories -- liability only (that covers bodily injury and property damage for other drivers and their passengers if you cause an accident) and full coverage (which typically refers to having comprehensive and collision coverages alongside liability).

If you're looking for state minimum limits for liability insurance, Farmers Mutual generally offers significantly cheaper rates of $32 compared to Imt's $58. When it comes to full coverage policies with similar limits, Farmers Mutual again has the edge, with policies around $15 a month less expensive than Imt, on average.

Is Farmers Mutual or Imt Better for Drivers with Spotty Records?

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

Tickets and accidents will most likely raise your premiums, but is Farmers Mutual or Imt cheaper for drivers with less-than-perfect records?

Which Company is Best for Drivers with Speeding Tickets?

Farmers Mutual policyholders can expect their rates to go up an average of $6 per month if they get a ticket, while Imt normally raises prices about $13 a month, on average.

But Farmers Mutual is usually the more affordable option for drivers both with a speeding ticket and with a clean record, offering premiums that are 8% and 15% less expensive, respectively, compared to IMT Insurance.

Which Company is Best for Drivers After an Accident?

Both carriers will raise rates pretty significantly if you get into an at-fault accident with Imt raising by just under $60. Farmers Mutual has a less extreme rise, but you can still expect to pay over $15 more than you were prior to your first collision.

Overall, Farmers Mutual offers the lowest premiums for drivers with an at-fault accident on their records, with monthly rates averaging $86 compared to IMT Insurance's $134.

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 auto insurance bill. For example, Imt increases average prices by nearly $60 per month -- that's just under a 45% increase.

If you have a DUI on your record and are looking for more affordable premiums, Farmers Mutual tends to be the much cheaper option with average prices of $128 monthly compared to $135 from Imt.

How does Credit Score Impact Farmers Mutual and Imt Rates?

Often times, your credit score can be used as one of the factors to determine your monthly car insurance rates. Certain states and companies do not allow for credit score to be used as a rating factor, but it will come into play for lots of drivers.

The reasoning auto 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 generally be forced to pay more.

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

Which Company is Best for Drivers with Good Credit?

Which Company is Best for Drivers with Bad Credit?

Is Farmers Mutual or Imt 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 rates. Typically, the more miles you put on your vehicle, the more you can expect to pay for coverage.

In this case, neither Farmers Mutual or Imt report increasing premiums for drivers with higher annual mileage figures. Still, Farmers Mutual comes out as the most affordable for drivers at both intervals, whether they put 6,000 or 12,000 miles on their car annually, with average rates of $90 a month for both.

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

Where you call home can have a considerable impact on your monthly insurance cost. Normally, 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 Mutual vs. Imt Discounts

You want to save as much money as possible, right? The best way to do that is by taking advantage of as many insurance discounts as you can.

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

In the table below, we've taken a look at all of the different discounts Farmers Mutual and Imt offer their customers so that you can see which one can save you the most money each month.

Looking at the total number of discounts, Imt comes out ahead with nine discounts to Farmers Mutual's seven.

Both companies offer several of the same discounts -- like discounts for getting driver training, multi-policy discounts, and paid in full discounts -- but Imt also offers commercial product discounts, defensive driver discounts, distant student discounts, and more that Farmers Mutual does not.

On the flip side, Farmers Mutual has a couple unique discounts of its own -- discounts for insuring multiple cars with the same company, passive restraint discounts, and secondary vehicle discounts.

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

You've seen the effect certain variables have on your car insurance and the different discounts carriers offer. But, at the end of the day, is Farmers Mutual or Imt the best company for you, your vehicle, and your wallet?

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

• You have less-than-stellar credit.
• Your neighborhood is in a city.
• You are over 65 years old and want to save some money on your auto insurance.

Imt might be best for you if...

• You care about discounts (Imt offers the most).

We hope this guide helps you get a good idea of the differences between Farmers Mutual and Imt. We also hope we've given you the information you need to make the best 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 Mutual and Imt. 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 insurance carriers in your area, all in just a few minutes.

Farmers Mutual vs. Imt FAQs

Is Farmers Mutual or Imt cheaper?

Looking just at the national average rates, Farmers Mutual is the less expensive of the two companies, offering average rates of $90 per month compared to $109 for Imt. However, Farmers Mutual won't necessarily be the most affordable company for every driver, since there are a variety of different factors that come into play when it comes to your auto insurance payment.

Who is better, Farmers Mutual or Imt?

Sadly, the answer truly is "it depends.". No single carrier is "better" for everyone -- it all comes down to what your unique car insurance profile looks like.

Why do Farmers Mutual and Imt offer me different rates?

Insurance carriers take a look at quite a few different variables when calculating the premiums they charge policyholders. Things like gender, your driving record, age, where you park your vehicle, and sometimes even things like your credit score can all be taken into consideration. Both Farmers Mutual and Imt calculate prices differently, so each one will most likely offer different rates. The only real way to see which company is the lowest for you is by comparing personalized quotes from a bunch of different companies.

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

The only way to find the auto insurance carrier 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 does all the hard work for you. Just enter your area information and you'll get free quotes from dozens of the best car insurance companies in your area. That way, you can guarantee you're getting the best premium. And who knows, the best company for you might not be Farmers Mutual or Imt at all!

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.