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

So, you're in the market for a new auto insurance policy. You may have even narrowed down your search to Farmers Union and GEICO. But which of these two companies is the best one for you? Read on to find which company has the best rates and biggest discounts.
Newly insured car driving down the road
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Quick Facts

  • In general, GEICO offers slightly cheaper prices than Farmers Union
  • Farmers Union offers more affordable average premiums for couples purchasing car insurance together
  • GEICO offers more affordable rates for drivers who have received a ticket within the last few years

Farmers Union vs. GEICO: 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 it down to Farmers Union or GEICO for your next policy, but between the two, which one will save you the most?

Farmers Union GEICO

As you can see, GEICO is about $4 per month less expensive than Farmers Union when looking at the national average rates for auto insurance.

However, that doesn't mean GEICO will necessarily be cheaper than Farmers Union for each driver. Car insurance companies vary their premiums depending on things like how old you are, how good your credit score is, where you live, how clean your driving record is, and a variety of other factors, so prices will change quite a bit from person to person.

So, if you want to find out which of Farmers Union or GEICO is really the best for you, keep reading to see average rates for each carrier broken down by a variety of different rate factors.

Farmers Union or GEICO: Average Car Insurance Rates by State

State Farmers Union GEICO

Farmers Union and GEICO only compete against each other in three states, with GEICO offering less expensive prices to the average driver in all of them. Colorado has the most noticable difference, where GEICO premiums are over 20% more affordable than insurance prices at Farmers Union.

There are plenty of other factors that go into your auto insurance bill than just where you live. Read on to learn more.

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Which is the Best Company For Young Drivers?

Farmers Union GEICO
18-year-old drivers$374$369
25-year-old drivers$174$163

Young drivers -- especially teens -- normally 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 a car 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. For example, 18-year-old drivers pay an average of $5 less a month by choosing GEICO over Farmers Union.

That being said, with both carriers, you'll see your rates reduce significantly once you turn 25. For example, average premiums for Farmers Union policyholders drop around $200 and GEICO's rates decrease more than $200 over that time.

Which is the Best Company for Retired Drivers?

Farmers Union GEICO
65+-year-old drivers$148$148

When it comes to insurance, patience and experience pay off, with drivers around retirement age paying some of the most affordable prices you'll ever find.

So, which company offers the best premiums to retired drivers? Farmers Union gets the slight edge here, with average rates coming in at about $148 monthly compared to GEICO's $148. But that difference is less than 5%, which means it ultimately will come down to other factors, such as your driving record or where you live.

Which is the Best Company for Married Drivers?

Farmers Union GEICO

Did you know that car insurance prices are usually more expensive for single policyholders than they are for married policyholders? That's typically because married drivers tend to own and insure more than one car, which can often earn you a discount.

When it comes to relationship status, GEICO is the winner for single drivers, with rates around $8 per month cheaper than Farmers Union, on average.

Farmers Union vs. GEICO: Average Rates by Gender

Farmers Union GEICO

Men are statistically more likely than women to get into collisions and get speeding tickets, which means they'll normally end up paying more for insurance than women.

With Farmers Union, men typically pay about 6% more a month than women., while with GEICO, the difference is closer to 4% per month.

Looking at overall affordability, GEICO comes out on top for both men and women. On average, male drivers save about $6 a month and women save around $3 with GEICO compared to the average Farmers Union policyholder.

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Farmers Union or GEICO: Compare State Minimum vs. Full Coverage Rates

Farmers Union GEICO
State Minimum*$107$101
Full Coverage**$271$269

*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 pretty complicated. There are a bunch of different coverages that account for lots of different things. Some protect you and your vehicle, while others only provide coverage for other people's property and health if you cause an accident.

The two most common 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 a collision) and full coverage (which usually refers to having comprehensive and collision coverages alongside liability).

If you're looking for state minimum limits for liability insurance, GEICO generally offers slightly more affordable prices of $101 compared to Farmers Union's $107. When it comes to full coverage policies with similar limits, GEICO again has the edge, with policies about $2 per month less expensive than Farmers Union, on average.

Is Farmers Union or GEICO 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 at-fault accidents and tickets lead to higher premiums, but which carrier -- Farmers Union or GEICO -- has the cheapest prices for drivers with spotty records?

Which Company is Best for Drivers with Speeding Tickets?

Farmers Union GEICO
Clean Record$138$115
1 Speeding Ticket$188$150

Farmers Union policyholders can expect their rates to go up an average of $50 a month if they get a ticket, while GEICO normally raises premiums around $35 per month, on average.

Even so, GEICO is typically the cheaper option for both drivers who have clean records and those with a recent speeding ticket. Drivers with a clean record can save about $23 a month and drivers with a ticket can save around $38 per month with GEICO.

Which Company is Best for Drivers After an Accident?

Farmers Union GEICO
Clean Record$138$115
1 At-Fault Accident$207$200

Both companies will increase prices pretty significantly if you get into an at-fault accident with GEICO increasing by $85. Farmers Union has a less extreme increase, but you can still expect to pay just under $70 more than you were prior to your first collision.

Overall, GEICO offers the lowest rates for drivers with an at-fault accident on their records, with monthly premiums averaging $200 compared to Farmers Union Insurance's $207.

Which Company is Best for Drivers with a DUI?

Farmers Union GEICO
Clean Record$138$115
1 DUI$225$275

If you get a DUI charge, you can expect some pretty significant increases in your monthly car insurance bill -- generally a lot more than an accident or speeding ticket. On average, GEICO will raise your prices about 58% after a DUI, while Farmers Union's average rates climb by just under 40%.

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How does Credit Score Impact Farmers Union and GEICO Rates?

In many cases, your credit score can be used as one of the variables to calculate your monthly auto insurance premiums. This isn't always the case (California, for example, has banned the use of credit score as a rating factor) but it does affect a lot of drivers out there.

The reasoning insurance carriers use is that policyholders with bad credit will be less likely to pay their bills on time; so usually, they'll be asked to pay more, while those with good credit will be rewarded with less expensive rates.

Looking at Farmers Union and GEICO specifically, which company has the best premiums for drivers at different credit levels?

Which Company is Best for Drivers with Good Credit?

Farmers Union GEICO
Excellent Credit Score$141$131
Good Credit Score$164$164

Which Company is Best for Drivers with Bad Credit?

Farmers Union GEICO
Fair Credit Score$190$197
Poor Credit Score$261$253

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

Farmers Union GEICO
6,000 Annual Miles$189$181
12,000 Annual Miles$189$189

The amount of time you spend behind the wheel of your car plays a big role in how much car insurance companies will charge for coverage. Generally, the more miles you put on your vehicle, the more you can expect to pay for coverage.

As you can see in the table above, annual mileage doesn't have much of an impact on how much Farmers Union charges. However, there's a small difference in monthly prices for GEICO, with policyholders who drive the least paying around $8 less each month compared to those who drive 12,000 miles yearly.

Farmers Union vs. GEICO: Compare Rates for Urban, Suburban, and Rural Drivers

Where you park your car can have a big impact on your monthly auto insurance cost. Normally, policyholders who live in heavily-populated urban areas will pay quite a bit more than rural drivers due to the number of vehicles that are on the roads in those areas.

Farmers Union GEICO
Urban Areas$226$211
Suburban Areas$172$185
Rural Areas$170$159

When comparing these two carriers side-by-side, GEICO boasts the most affordable average rates in rural and urban areas, while Farmers Union wins in suburban areas.

If you live in a rural area, you can expect to pay about $159 per month with GEICO and $170 with Farmers Union. People in suburban areas pay around $172 with Farmers Union compared to GEICO's $185 a month. In urban areas, GEICO's average prices are about $211 while Farmers Union offers premiums around $226.

Farmers Union vs. GEICO Discounts

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

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

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

Farmers Union GEICO
ABS Discount 
Anti-Theft Discount 
Commercial Drivers License Discount 
Covid-19 Relief Discount 
Defensive Driver Discount
Deployed Driver Discount 
Distant Student Discount
Driver Training Discount 
DRL Discount 
EFT Discount 
Employee Discount 
Farm Discount 
Full Coverage Discount 
Good Driving Discount
Good Student Discount
Group Discount
Homeowner Discount 
Mature Driver Discount 
Military Discount 
Minor Child Discount 

GEICO blows Farmers Union away when it comes to the sheer amount of discounts available, offering 17 more discounts than Farmers Union.

There are a couple discounts both companies offer, but GEICO also offers ABS discounts, anti-theft discounts, commercial drivers license discounts, and more that Farmers Union does not.

On the flip side, Farmers Union has a couple unique discounts of its own -- farm discounts, discounts for being a homeowner, and minor child discounts.

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Final Thoughts: Is Farmers Union or GEICO Best for You?

So, you've seen how different factors can affect your car insurance rates. We've shown you all the discounts each company offers, too. That's all well and good, but at the end of the day, is Farmers Union or GEICO the right company for you, your vehicle, and your wallet?

GEICO might be best for you if....

  • You have a clean record.
  • You want basic auto insurance coverage at the state minimum limits.
  • You live in a rural neighborhood.

Farmers Union might be best for you if...

  • You have a DUI charge on your record.
  • You are over 65 years old and want to save some money on your car insurance.
  • You and your spouse are buying auto insurance together.

We hope this guide has ben a valuable resource as you compare Farmers Union and GEICO and that you can now make a more informed decision when it comes to your insurance.

At the end of the day, the best way to make sure you're getting the best deal on your car insurance policy is to compare quotes from several carriers, not just Farmers Union and GEICO. Luckily, does all the hard work for you. Just enter your ZIP code below and get free quotes from dozens of top insurance companies in your area, all in just a few minutes.

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Farmers Union vs. GEICO FAQs

Is Farmers Union or GEICO cheaper?

Looking just at the national average premiums, GEICO is the more affordable of the two carriers, offering average rates of $185 a month compared to $189 for Farmers Union. However, GEICO won't necessarily be the cheapest carrier for every policyholder, since there are a range of different variables (things like driving record, age, gender, etc.) that play a role in how much you pay.

Who is better, Farmers Union or GEICO?

Sadly, the answer truly is "it depends.". Neither company is "better" for everyone -- it all boils down to your unique auto insurance profile. For example, Farmers Union offers less expensive prices for drivers with a recent DUI, while GEICO is more affordable for drivers with excellent credit.

Why do Farmers Union and GEICO offer me different rates?

Car insurance companies take a look at quite a few different factors when calculating the rates they charge policyholders. Variables such as age, where your home is, your driving record, gender, and sometimes even things like your credit score can all be used. Both Farmers Union and GEICO calculate prices using different factors, so each one will most likely offer different premiums. The only real way to see which carrier is the lowest for you is by comparing personalized quotes from many different carriers.

How do I know if Farmers Union 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 multiple companies and finding the one best suited for your individual budget. Luckily, makes it easy for you to do just that. Just enter your area information and you'll get free quotes from dozens of the best insurance carriers in your area. With those, you can guarantee you're getting the best rate. And who knows, the best carrier for you might not be Farmers Union or GEICO at all!


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.

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