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

Quick Facts

• Based on national averages for insurance, Indiana Farmers offers significantly more affordable rates than Hastings Mutual
• Hastings Mutual may help you save more money -- they offer more discounts than Indiana Farmers Insurance
• Indiana Farmers offers cheaper average prices for policyholders who drive a short distance to work everyday

Hastings Mutual or Indiana Farmers: Which Company has the Cheapest Car Insurance?

So, you're thinking about switching to a new insurance policy. After all, you've seen ads from all sorts of companies offering hefty savings. But exactly how much can you save by switching?

You've maybe even narrowed your search down to Hastings Mutual or Indiana Farmers as your top options, but which one has less expensive premiums for auto insurance?

Looking at nationwide averages, Indiana Farmers has average rates that are around 60% a month more affordable than those from Hastings Mutual.

But Indiana Farmers may not be the most affordable or best option for each driver out there. Insurance carriers use tons of complex algorithms to determine prices, so depending on how clean your driving record is or where you live (among a wide array of other factors), you could see wildly different rates from the ones above.

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

Hastings Mutual vs. Indiana Farmers: Average Car Insurance Rates by State

Hastings Mutual and Indiana Farmers only compete against each other in Indiana, where Indiana Farmers offers the cheaper average rates. Indiana Farmers drivers tend to pay about $42 per month less on average compared to drivers who use Hastings Mutual for their car insurance.

That being said, there's a lot more that goes into your insurance payment than just where you live. Continue reading to see how other variables will affect your rates.

Which is the Best Company For Young Drivers?

You might already know that teen drivers typically pay a lot more for car insurance than any other group of drivers out there on the road. That's usually because teen drivers are statistically much more likely to get into accidents since they have less experience on the roads.

That being said, 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 almost 60% less a month by choosing Indiana Farmers over Hastings Mutual.

Even so, with both companies, you'll see your premiums decrease significantly by the time you turn 25. For example, average prices for Hastings Mutual policyholders reduce over 45% and Indiana Farmers's premiums drop nearly 45% over that time.

Which is the Best Company for Retired Drivers?

Drivers around retirement age normally enjoy some of the cheapest insurance rates you'll ever find. After all, they've likely been driving for quite some time, which generally decreases their chances of collisions and other infractions that can raise premiums.

But who has the best rates for retired drivers between Hastings Mutual and Indiana Farmers? Indiana Farmers gets the edge, with prices for drivers 65 and older $100 less expensive than the national average for Hastings Mutual.

Which is the Best Company for Married Drivers?

Married policyholders tend to get slightly cheaper auto insurance premiums than those who are single. That's usually because married drivers tend to own and insure multiple vehicles, which can often earn you a discount.

For single drivers, the difference in average prices between these two carriers is significant, with Indiana Farmers rates coming in at about a third of Hastings Mutual's. The advantage is also clear for married couples - Indiana Farmers offers the most affordable average premiums.

Hastings Mutual or Indiana Farmers: Average Rates by Gender

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

Usually, women see prices around 2% per month less with Hastings Mutual, and about 8% less with Indiana Farmers.

Looking at the data for each company specifically, Indiana Farmers offers the cheapest average rates for both men and women, with average premiums $129 less for men and $131 cheaper for women.

Hastings Mutual vs. Indiana Farmers: 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 pretty complicated. There are so many different limits and coverages that it can make it pretty confusing to find the right policy for you.

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

Looking specifically at state minimum liability insurance, Indiana Farmers 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, Indiana Farmers again has the edge, with policies averaging around $118 a month to Hastings Mutual's $279.

Is Hastings Mutual or Indiana Farmers Better for Drivers with Spotty Records?

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

Accidents and speeding tickets will most likely raise your premiums, but is Hastings Mutual or Indiana Farmers more affordable for drivers with less-than-ideal driving records?

Which Company is Best for Drivers with Speeding Tickets?

Policyholders who use Hastings Mutual for their insurance can typically expect their monthly bill to go up about 16% after getting a speeding ticket. Indiana Farmers policyholders can expect a bit more drastic of an increase of around 17%.

Even so, Indiana Farmers tends to offer the best prices for both drivers who have clean records and those with a recent ticket. With Indiana Farmers Insurance, drivers with a clean record can save about $39 per month and drivers with a speeding ticket can save around $45 a month.

Which Company is Best for Drivers After an Accident?

Hastings Mutual drivers who get in a collision can expect to see their rates rise by just under 15%, while those who have insurance through Indiana Farmers will see about a 15% increase.

At the end of the day, drivers who use Indiana Farmers end up with the cheaper prices after an accident, with average prices coming in at $84 compared to Hastings Mutual Insurance Company's $126.

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, Hastings Mutual increases average premiums by more than $350 per month -- that's more than a 75% increase.

But if you end up with a DUI charge and are looking for more affordable prices, Indiana Farmers tends to be less expensive for the average driver, with monthly premiums coming in at around $84 to Hastings Mutual's $478.

How does Credit Score Impact Hastings Mutual and Indiana Farmers Rates?

In many cases, your credit score can be used as one of the factors to calculate your monthly insurance rates. This isn't true for everyone (for example, Massachusetts and California are two states that ban the practice entirely), but it will come into play for a lot of policyholders.

Car insurance carriers argue that those with poor credit scores are less likely to pay their bills on time every month, which raises the risk involved on their end, while the opposite is true for those with good credit.

Looking at Hastings Mutual and Indiana Farmers specifically, which carrier has the lowest premiums for drivers at different credit levels?

Which Company is Best for Drivers with Good Credit?

If you have solid credit, Indiana Farmers will normally reward you the most. For policyholders with "excellent" credit scores, Indiana Farmers comes in nearly 64.07 cheaper. Drivers with "good" credit scores typically save about 65% with Indiana Farmers compared to average rates from Hastings Mutual.

Which Company is Best for Drivers with Bad Credit?

Indiana Farmers typically offers lower prices than Hastings Mutual when it comes to drivers with bad credit. Drivers with "fair" credit pay around 62% a month less with Indiana Farmers compared to Hastings Mutual, and those with "poor" scores usually save an average of about 58% monthly.

Is Hastings Mutual or Indiana Farmers Better for Drivers who Work from Home or Have Short Commutes?

Did you know that the amount of time you spend in your car have a sizable impact on how much auto insurance companies will charge for coverage? Generally, those who drive fewer miles will end up with more affordable premiums since there's less of a chance of causing an accident and filing an insurance claim.

As you can see in the table above, annual mileage doesn't have much of an impact on how much Hastings Mutual charges. However, there's a small difference in monthly rates for Indiana Farmers, with policyholders who drive 6,000 miles each year paying around $2 less every month compared to those who drive 12,000 miles yearly. Still, for drivers in both categories, Indiana Farmers is the less expensive carrier.

Hastings Mutual or Indiana Farmers: Compare Rates for Urban, Suburban, and Rural Drivers

Where you park your car can play a big role in how much you pay for insurance. Normally, those who live in urban areas will pay more than drivers in rural areas since there are a lot more vehicles on the road where they live, which increases the chances of an accident.

Indiana Farmers boasts the lowest average premiums for drivers in all types of areas, no matter if they're urban, suburban, or rural.

For drivers in urban ZIP codes, Indiana Farmers's average rates are about $88 while Hastings Mutual offers prices around $291. People in suburban areas pay about $83 with Indiana Farmers compared to Hastings Mutual's $177 a month. Those in rural areas can expect to pay around $72 per month with Indiana Farmers compared to Hastings Mutual's $164.

Hastings Mutual vs. Indiana Farmers 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 car insurance discounts as possible.

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.

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

Looking at the total number of discounts, Hastings Mutual has a slight advantage when it comes to total number of discounts. Indiana Farmers offers a grand total of eight discounts, while Hastings Mutual has 10.

Both carriers offer lots of the same discounts -- like discounts for being a defensive driver, discounts for being a good driver, and discounts for being a good student -- but Hastings Mutual also offers discounts for ABS, anti-theft, company car, and more.

On the other hand, Indiana Farmers has a few proprietary discounts of their own for things like advance quote discounts, mature driver discounts, multi-policy discounts, and more.

Final Thoughts: Is Hastings Mutual or Indiana Farmers Best for You?

You've seen the role certain variables have on your auto insurance and the different discounts companies offer. That's all well and good, but when it comes down to it, which insurance company is the right company for you and your specific needs?

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

• You will be the only person on the insurance policy.
• You want the most robust protection via a "full coverage" policy.
• You drive often but have a short commute.

Hastings Mutual might be best for you if...

• You care about discounts (Hastings Mutual offers the most).

Hopefully, this guide helps you get a good idea of the differences between Hastings Mutual and Indiana Farmers and that you can now make a more informed decision when it comes to your car insurance.

At the end of the day, the sure-fire way to make sure you're getting the best deal on your auto insurance policy is to compare quotes from multiple carriers, not just Hastings Mutual and Indiana Farmers. 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.

Hastings Mutual vs. Indiana Farmers FAQs

Is Hastings Mutual or Indiana Farmers cheaper?

Indiana Farmers is the cheaper of the two carriers when looking at national average premiums, with policies averaging $81 per month with Indiana Farmers and $211 for Hastings Mutual. But that doesn't mean Indiana Farmers will be the cheapest carrier for each driver, since there are a bunch of different factors (things like age, driving record, gender, etc.) that play a role in how much you pay.

Who is better, Hastings Mutual or Indiana Farmers?

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

Why do Hastings Mutual and Indiana Farmers offer me different rates?

Auto insurance companies use quite a few different variables when determining the prices they charge. Factors such as age, gender, where you call home, your driving record, and sometimes even things like your credit score can all be taken into consideration. Both Hastings Mutual and Indiana Farmers calculate rates using different variables, so it's likely they'll offer different prices. The best way to determine which carrier is the lowest for you is by comparing personalized quotes from lots of different carriers.

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

The only way to find the 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 do all the hard work for you. Just enter your ZIP code and you'll get quotes from dozens of your local top car insurance carriers for free. With those, you can guarantee you're getting the cheapest premium. And maybe you'll find that the best carrier for you isn't Hastings Mutual or Indiana Farmers 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.