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

Quick Facts

• Looking at the national averages for auto insurance, Farmers Mutual offers significantly less expensive prices than Metlife
• Farmers Mutual has more affordable rates for policyholders who may not have much of a commute
• Metlife offers more discounts than Farmers Mutual

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

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

You might have narrowed your search down to Farmers Mutual or Metlife as potential options, but between the two, which one will save you the most?

Looking at the national average rates for both companies, Farmers Mutual has average rates that are about 75% per month cheaper than those from Metlife.

That being said, that doesn't mean Farmers Mutual will necessarily be more affordable than Metlife for each driver. After all, insurance carriers can offer drastically different rates to each driver depending on rating factors like your credit score, where you call home, your age, or even your driving record (among other things), so prices could vary drastically from person to person.

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

Farmers Mutual or Metlife: Average Car Insurance Rates by State

Farmers Mutual and Metlife only compete against each other in one states, with Farmers Mutual offering less expensive premiums to the average driver in all of them. Nebraska has the most noticable difference, where Farmers Mutual prices are over 70% cheaper than car insurance rates at Metlife.

There's a lot more that goes into your auto insurance payment than just where you call home. Continue reading to learn more about how other factors will affect your rates.

Which is the Best Company For Young Drivers?

Young drivers -- especially teens -- typically pay a lot for car insurance compared to older drivers. That's generally because young, inexperienced drivers are statistically much more likely to get into an accident that results in an insurance claim, making them much riskier to insure.

However, that doesn't mean teen drivers can't still save money on their auto insurance. For example, 18-year-old drivers pay an average of more than $500 less a month by choosing Farmers Mutual over Metlife.

But both companies will lower premiums by the time drivers turn 25. Metlife offers the steepest reduction, with 25-year-olds paying less than a third of what 18-year-old drivers are charged. That being said, Farmers Mutual still has the cheapest rates at $88 per month.

Which is the Best Company for Retired Drivers?

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

But who has the best prices for retired drivers between Farmers Mutual and Metlife? Farmers Mutual gets the edge here, with average rates coming in at around $61 a month compared to Metlife's $205.

Which is the Best Company for Married Drivers?

You may not be aware, but auto insurance premiums tend to be less expensive for married policyholders than they are for single policyholders. That's because policies for married drivers normally cover multiple cars, which a lot of carriers will offer you a discount for.

When it comes to relationship status, Farmers Mutual is the clear winner for single drivers, with prices about $330 per month cheaper than Metlife, on average. The advantage for married couples with Farmers Mutual is also obvious, where drivers save nearly $150 a month.

Farmers Mutual vs. Metlife: Average Rates by Gender

Men are statistically more likely than women to get into an accident or get pulled over for speeding. That means when it comes to car insurance men will generally end up paying a little more.

With Farmers Mutual, men typically pay almost 10% more per month than women., and nearly 10% with Metlife.

Looking at overall affordability, Farmers Mutual offers the most affordable average rates for both men and women. On average, male drivers save about $260 a month and women save around $240 with Farmers Mutual compared to the average Metlife policyholder.

Farmers Mutual or Metlife: 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. There are a range of different coverages that account for many different things. Some protect you and your vehicle, while others only provide coverage for other people's property and health if you cause a collision.

Even so, the most common policies that many drivers look at fall into two categories -- liability only (which provides bodily injury and property damage coverage for other drivers and their passengers if you cause an accident) and full coverage (which usually refers to having comprehensive and collision coverages in addition to liability coverage).

If you're looking for state minimum limits for liability insurance, Farmers Mutual typically offers significantly more affordable premiums of $32 compared to Metlife's $215. When it comes to full coverage policies with similar limits, Farmers Mutual again has the edge, with policies about $300 per month less expensive than Metlife, on average.

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

It's no big secret that drivers who are accident-free get better deals on their auto insurance. But even if you have a spotty record, you can still find plenty of ways to save some cash on your monthly bill.

Tickets and at-fault collisions will most likely raise your rates, but is Farmers Mutual or Metlife cheaper for drivers with less-than-perfect records?

Which Company is Best for Drivers with Speeding Tickets?

Farmers Mutual policyholders can expect their premiums to go up an average of $6 a month if they get a ticket, while Metlife usually raises prices around $59 per month, on average.

However, Farmers Mutual has more affordable premiums for drivers in both categories, offering rates that are $150 and $203 cheaper, respectively, compared to MetLife.

Which Company is Best for Drivers After an Accident?

Farmers Mutual drivers who get in a collision can expect to see their prices climb by just under 20%, while those who have insurance through Metlife will see about a 40% increase.

Overall, Farmers Mutual offers the lowest premiums for drivers with an at-fault accident on their records, with monthly prices averaging $86 compared to MetLife's $368.

Which Company is Best for Drivers with a DUI?

If you get a DUI charge on your record, it's probably going to cost you more than a simple speeding ticket or even an accident. Metlife drivers usually see a 55% climb in their insurance rates after a DUI charge, while Farmers Mutual will normally increase prices by around 45%.

How does Credit Score Impact Farmers Mutual and Metlife Rates?

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

The reasoning insurance carriers 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 generally be forced to pay more.

So, which company offers the best premiums for policyholders 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 or Metlife 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 auto insurance companies will charge for coverage. That's because the more miles you put on your vehicle, the more likely you are to get into a collision and cause 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 charges. However, there's a small difference in monthly prices for Metlife, with policyholders who drive the least paying about $3 less every month compared to those who drive 12,000 miles each year. Still, Farmers Mutual is the less expensive option for drivers in both categories.

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

We've already mentioned how your home state can play a role in how much you pay for car insurance, but the type of area you live in can have a big impact as well. Usually, those who live in urban areas will pay more than drivers in rural areas because there are a lot more cars on the roads in those areas.

Farmers Mutual tends to offer the most affordable prices for drivers in all areas, regardless of if they're urban, suburban, or rural.

If you live in a rural area, you can expect to pay around $90 monthly with Farmers Mutual compared to Metlife's $299. People in suburban areas pay about $87 with Farmers Mutual compared to Metlife's $333 a month. In urban areas, Farmers Mutual's average rates are around $93 while Metlife offers premiums about $389.

Farmers Mutual vs. Metlife Discounts

Regardless of 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 possible. That's where insurance discounts comes into play.

But where do you even start? With what seems like a million different discounts out there, it may be challenging to find all the ones you qualify for.

Below, we've compared all of the different discounts offered by Farmers Mutual and Metlife so that you can find the company that has the most discounts and, therefore, the biggest savings.

Metlife blows Farmers Mutual away when it comes to the sheer amount of discounts available, offering 36 different discounts to Farmers Mutual's seven.

There are a couple discounts both carriers offer, but Metlife also offers AAA discounts, ABS discounts, academic discounts, and more that Farmers Mutual does not.

On the flip side, Farmers Mutual has a couple unique discounts of its own -- discounts for getting driver training, paid in full discounts, and secondary vehicle discounts.

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

So, you've seen how different variables can affect your car insurance prices. We've broken down the different discounts each company offers, too. That's all well and good, but at the end of the day, which insurance carrier is the best fit for you?

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

• You have a speeding ticket on your driving record.
• You want basic insurance coverage at the state minimum limits.
• You are over 65 years old and want to save some money on your car insurance.

Metlife might be best for you if...

• You are considering moving to another state -- undefined is only available to residents.
• You care about discounts (Metlife offers the most).

We hope this guide has ben a valuable resource as you compare Farmers Mutual and Metlife and that it aids in making a more informed decision about your auto insurance.

At the end of the day, the sure-fire way to make sure you're getting the best deal on your insurance policy is to compare quotes from several companies, not just Farmers Mutual and Metlife. Luckily, sites like Compare.com do all the hard work for you. Simply enter your ZIP codes below and get multiple quotes from some of the best car insurance carriers in your area, all for free.

Farmers Mutual vs. Metlife FAQs

Is Farmers Mutual or Metlife cheaper?

Looking just at the national average rates, Farmers Mutual is the more affordable of the two companies, offering average rates of $90 a month compared to $340 for Metlife. Even so, Farmers Mutual won't necessarily be the lowest company for everyone, since there are lots of different factors that are considered when it comes to your auto insurance cost.

Who is better, Farmers Mutual or Metlife?

Sadly, the answer truly is "it depends.". Neither carrier is "better" for everyone -- it all depends on the makeup of your unique car insurance profile.

Why do Farmers Mutual and Metlife offer me different rates?

Insurance carriers take a look at lots of different variables when determining the premiums they charge policyholders. Factors like age, where your home is, gender, your driving record, and sometimes even things like your credit score can all be used. Both Farmers Mutual and Metlife calculate rates using different variables, so each one will most likely offer different prices. The only real way to see which company is the most affordable for you is by comparing personalized quotes from a variety of different companies.

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

The only way to find the auto insurance carrier that's right for you is by getting quotes from a handful of 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 information once and you'll get free quotes from dozens of the best insurance companies in your area. With those, you can guarantee you're getting the cheapest price. And who knows, the best company for you might not be Farmers Mutual or Metlife 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.