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

Quick Facts

• In general, Farmers Mutual offers significantly less expensive prices than Shelter
• Farmers Mutual has cheaper rates for policyholders who don't have any speeding tickets, DUIs, or at-fault accidents on their record
• Shelter offers more discounts than Farmers Mutual

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

Are you considering a new insurance policy? With so many ads from all sorts of companies offering large 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 Shelter, but which one has more affordable premiums for auto insurance?

Looking at nationwide averages, Shelter has average rates that are about 55% per month more expensive than those from Farmers Mutual.

But that doesn't necessarily mean Farmers Mutual will be the less expensive option for every driver. Insurance companies vary their prices depending on things like where you live, how clean your driving record is, how old you are, how good your credit score is, and tons of other factors, so rates will differ quite a bit from person to person.

So, if you want to find out which of Farmers Mutual or Shelter is really the best for you, keep reading to see average prices for each carrier broken down by lots of different rate factors.

Farmers Mutual or Shelter: Average Car Insurance Rates by State

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

There are plenty of other factors that go into your insurance bill than just your home state. Keep reading to find out more.

Which is the Best Company For Young Drivers?

Young drivers -- especially teens -- generally pay a lot for auto insurance compared to older drivers. That's normally because young, inexperienced drivers are statistically much more likely to get into accidents since they have less experience on the roads.

However, that doesn't mean that teen drivers have to just accept sky-high car insurance prices. Just look at the table above -- where 18-year-old drivers who have Farmers Mutual for their auto insurance pay more than $250 less than those who use Shelter.

That being said, both carriers will offer you dramatically lower premiums by the time drivers turn 25. Shelter offers the steepest drop, 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 rates at $88 monthly.

Which is the Best Company for Retired Drivers?

Once you approach retirement age, you'll typically enjoy the cheapest 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 auto insurance.

But who has the best premiums for retired drivers between Farmers Mutual and Shelter? Farmers Mutual gets the edge, with prices for drivers 65 and older $80 less expensive than the national average for Shelter.

Which is the Best Company for Married Drivers?

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

When it comes to relationship status, Farmers Mutual is the clear winner for those who are single, with prices around $140 a month more affordable than Shelter, on average. The advantage is also clear for married couples - Farmers Mutual offers the lowest average rates.

Farmers Mutual vs. Shelter: Average Rates by Gender

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

On average, women see prices nearly 10% per month less with Farmers Mutual, and about 11% less with Shelter.

When it comes to the cheapest rates for each gender, Farmers Mutual offers the most affordable average premiums for both men and women, with average prices 57% less for men and 56% cheaper for women.

Farmers Mutual or Shelter: 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 auto insurance can be a complicated subject for most people. There are so many different coverages and limits that it can make it pretty confusing to find the right policy.

Even so, most policies end up falling into two different types of coverage -- liability only (which covers the other party's injuries and property damage if you cause an accident) and full coverage (which includes comprehensive and collision coverages that protect your own vehicle, in addition to what you get with liability).

If you're looking for state minimum liability limits, Farmers Mutual normally offers significantly cheaper rates of $32 compared to Shelter's $129. When it comes to full coverage policies with similar limits, Farmers Mutual again has the edge, with policies around $150 a month less expensive than Shelter, on average.

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

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

It's no secret secret that tickets and at-fault collisions lead to higher premiums, but which company -- Farmers Mutual or Shelter -- has the lowest prices for drivers with spotty 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 Shelter usually raises premiums about $39 a month, on average.

That being said, Farmers Mutual has more affordable rates for drivers in both categories -- their rates are around 51% cheaper for drivers with clean records and 58% less expensive for those with a ticket.

Which Company is Best for Drivers After an Accident?

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

Overall, the more affordable premiums come from Farmers Mutual, with monthly rates averaging $86 compared to Shelter Insurance's $234.

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. On average, Shelter will increase your prices about 49% after a DUI, while Farmers Mutual's average premiums rise by over 45%.

If you have a DUI on your record and are looking for more affordable rates, Farmers Mutual tends to be the much cheaper option with average premiums of $128 per month compared to $277 from Shelter.

How does Credit Score Impact Farmers Mutual and Shelter Rates?

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

The reasoning insurance companies 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 carrier offers the best premiums for policyholders 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 Shelter 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 car insurance cost. Typically, those who drive less will end up with more affordable prices since there's less of a chance of getting into a collision and causing 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 rates for Shelter, with drivers who put 6,000 miles on their car yearly paying around $11 less each month compared to those who drive 12,000 miles annually. Still, Farmers Mutual is the less expensive option for drivers in both categories.

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

Where you live can have a big impact on your monthly insurance payment. Normally, drivers who live in less densely populated rural areas will pay quite a bit less than urban policyholders due to the small number of vehicles that are on the roads in those areas.

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

Drivers in suburban ZIP codes see the most affordable prices from both companies, but Farmers Mutual comes out on top with average premiums about $87 a month. Farmers Mutual also has cheaper average rates for policyholders in urban and rural ZIP codes -- a $142 and $113 per month respective difference when compared to Shelter drivers in similar areas.

Farmers Mutual vs. Shelter 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 utilizing as many auto insurance discounts as you can.

But where do you even start? With so many discounts out there, it may seem hard to find all the of the ones you're eligible for.

In the section below, we've taken a look at all of the different discounts Farmers Mutual and Shelter offer their customers so that you can find the company that has the most discounts and, therefore, the biggest savings.

Looking at the total number of discounts, Shelter comes out ahead with 10 discounts to Farmers Mutual's seven.

Both companies offer many of the same discounts -- like discounts for getting driver training, discounts for being a good student, and multi-policy discounts -- but Shelter also offers advance quote discounts, anti-theft discounts, defensive driver discounts, and more that Farmers Mutual does not.

On the flip side, Farmers Mutual has a unique discount of its own -- a secondary vehicle discounts.

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

You've seen the effect certain factors have on your insurance and the different discounts carriers offer. But, at the end of the day, is Farmers Mutual or Shelter the right carrier for you and your specific driver profile?

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

• You have a clean driving record, free of accidents, tickets, or DUIs.
• You have above-average credit.
• You're buying car insurance for a teen and looking for a wallet-friendly option.

Shelter might be best for you if...

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

We hope this guide helps you get a good idea of the differences between Farmers Mutual and Shelter and that it aids in making a more informed decision about your auto 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 multiple companies, not just Farmers Mutual and Shelter. Luckily, sites like Compare.com do all the hard work for you. Just enter your ZIP code below and get multiple quotes from some of the best car insurance carriers in your area, all for free.

Farmers Mutual vs. Shelter FAQs

Is Farmers Mutual or Shelter cheaper?

Looking just at the national average premiums, Farmers Mutual is the more affordable of the two companies, offering average rates of $90 a month compared to $208 for Shelter. But Farmers Mutual won't necessarily be the lowest company for everyone, since there are many different variables (things like driving record, age, gender, etc.) that play a role in how much you pay.

Who is better, Farmers Mutual or Shelter?

Unfortunately, the real answer is "it depends.". One carrier is not necessarily "better" for everyone -- it all boils down to your unique auto insurance profile.

Why do Farmers Mutual and Shelter offer me different rates?

Car insurance carriers take a look at many different factors when determining the prices they charge policyholders. Things such as gender, age, your driving record, where your home is, and sometimes even things like your credit score can all come into play. Both Farmers Mutual and Shelter calculate premiums using different variables, so each one will most likely offer different rates. The only real way to see which company is the cheapest for you is by comparing personalized quotes from a variety of different companies.

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

The only way to find the insurance carrier that's right for you is by getting quotes from several 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 auto insurance companies in your area. That way, you can guarantee you're getting the best rate. And who knows, the best company for you might not be Farmers Mutual or Shelter 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.