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

Quick Facts

• Based on national averages for auto insurance, Pekin offers slightly cheaper premiums than Indiana Farmers
• Indiana Farmers has more affordable rates for drivers with a DUI charge on their record
• Pekin offers cheaper average prices for people who are single and purchasing car insurance by yourself

Indiana Farmers vs. Pekin: 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 huge discounts, you're probably wondering exactly how much you might be able to save.

You've maybe even narrowed it down to Indiana Farmers or Pekin, but which company will save you the most?

Looking at nationwide averages, Pekin is about $7 per month less expensive than Indiana Farmers.

Even so, that doesn't necessarily mean Pekin will be the more affordable option for every driver. Insurance companies vary their premiums depending on things like how clean your driving record is, how good your credit score is, how old you are, where you live, and a variety of other factors. So, at the end of the day, rates from each carrier will differ quite a bit from person to person.

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

Indiana Farmers or Pekin: Average Car Insurance Rates by State

Both Indiana Farmers and Pekin only offer auto insurance in Indiana, so you'll see that the average figures here will mirror the ones we mentioned above. For Indiana residents, Pekin offers car insurance for $74 monthly on average. Indiana Farmers's average rates come out to be more expensive, at $81 a month.

Typically, where you live will play a hefty role in how much you pay for auto insurance, but since both companies only do business in Indiana, a bunch of other factors will come into play when you compare Indiana Farmers and Pekin. Continue reading to learn more about how other variables will affect your rates.

Which is the Best Company For Young Drivers?

Young drivers -- especially teens -- usually pay a lot for car insurance compared to older drivers. The reason is that young, inexperienced drivers are statistically much more likely to cause collisions and other accidents that will result in an insurance claim.

But that doesn't mean teen drivers can't still save money on their insurance. As you can see above, teens who use Indiana Farmers save nearly $30 a month compared to those who use Pekin.

However, both carriers will offer you dramatically lower prices by the time you turn 25. Pekin offers the steepest reduction, with 25-year-olds paying less than a third of what 18-year-old drivers are charged. Indiana Farmers's average rates drop almost 45% during that same period.

Which is the Best Company for Retired Drivers?

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

So, which carrier offers the best premiums to retired drivers? Pekin gets the edge, with prices for drivers 65 and older $9 cheaper than the national average for Indiana Farmers.

Which is the Best Company for Married Drivers?

You may not be aware, but insurance rates tend to be more expensive for those who are single than they are for married couples. This usually boils down to married drivers having more than one car on their policy -- something several auto insurance companies will reward with discounts.

When it comes to relationship status, the two carriers are comparable for single drivers, with premiums only differing around $4 per month, on average. But for married policyholders, the advantage is clear - Pekin has the edge when it comes to average rates , but the difference is less than $10.

Indiana Farmers vs. Pekin: Average Rates by Gender

Because men are more likely to get into collisions and get speeding tickets, they have an increased chance of filing a claim with insurance. Therefore, men generally pay more for insurance than women.

Typically, men see prices nearly 10% a month higher with Indiana Farmers, and about 1% with Pekin.

When it comes to the cheapest premiums for each gender, Pekin comes out as the lowest option for both genders. On average, women save about $3 per month and men save around $9 with Pekin compared to the average Indiana Farmers policyholder.

Indiana Farmers or Pekin: 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.

For most people, car insurance can be pretty complicated. Everyone needs auto insurance, but there are so many different limits and coverages that it can be hard to find the right policy.

The two most common policies end up falling into two different types of coverage -- liability only (which provides property damage and bodily injury coverage for other drivers and their passengers if you cause an accident) and full coverage (which includes two additional coverages -- comprehensive and collision -- in addition to liability).

In this case, Indiana Farmers offers the cheapest average rates for state minimum liability insurance, while Pekin has the edge for full coverage policies with similar coverage limits. Drivers looking for basic state minimum coverage can save around $2 with Indiana Farmers Insurance, while full coverage comes out to be about $15 less expensive with Pekin Insurance.

Is Indiana Farmers or Pekin Better for Drivers with Spotty Records?

You've probably seen plenty of commercials from car 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.

It's no secret secret that accidents and tickets lead to higher premiums, but which company -- Indiana Farmers or Pekin -- has the most affordable prices for drivers with less-than-perfect records?

Which Company is Best for Drivers with Speeding Tickets?

Indiana Farmers policyholders can expect their premiums to go up an average of $14 a month if they get a ticket, while Pekin typically raises rates around $13 per month, on average.

That being said, Pekin tends to offer the best prices for both drivers who have a recent speeding ticket and those with clean records -- their rates are around 23% more affordable for drivers with clean records and 20% less expensive for those with a ticket.

Which Company is Best for Drivers After an Accident?

Both carriers will increase premiums pretty significantly if you get into an at-fault accident with Pekin climbing by just under $20. Indiana Farmers has a less extreme climb, but you can still expect to pay nearly $15 more than you were prior to your first collision.

Overall, the more affordable rates come from Pekin, with monthly prices averaging $73 compared to Indiana Farmers Insurance's $84.

Which Company is Best for Drivers with a DUI?

If you get a DUI charge, you can expect some pretty significant increases in your monthly insurance bill -- normally a lot more than a collision or ticket. On average, Pekin will increase your premiums about 48% after a DUI, while Indiana Farmers's average rates rise by over 15%.

If you have a DUI on your record and are looking for more affordable prices, Indiana Farmers tends to be the much cheaper option with average premiums of $84 per month compared to $104 from Pekin.

How does Credit Score Impact Indiana Farmers and Pekin Rates?

Did you know that many auto insurance companies take into account your credit score when calculating rates? This isn't always the case (Michigan, for example, has banned the use of credit score as a rating factor) but it does affect a lot of policyholders out there.

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

So, which carrier offers the lowest prices for drivers with poor, average, or good credit?

Which Company is Best for Drivers with Good Credit?

If you have solid credit, you'll usually find a better deal with Pekin. Policyholders with "excellent" credit can save 20% compared to Indiana Farmers, and those with "good" scores can also expect to see savings -- around $8 or 12% more affordable each month.

Which Company is Best for Drivers with Bad Credit?

Pekin typically offers lower rates than Indiana Farmers when it comes to drivers with less-than-perfect credit. Drivers with "fair" credit pay about $3 a month less with Pekin compared to Indiana Farmers, and those with "poor" scores usually save an average of around $2 a month.

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

How much you drive can have a large impact on how much insurance companies will charge for coverage. That's because the more miles you drive, the more likely you are to get into an accident and cause an insurance claim.

For both drivers who put 6,000 miles on their vehicles yearly, as well as those who average twice that figure, Pekin tends to be the cheaper option. Pekin average prices for drivers with 6,000 annual miles come in over $10 less expensive than Indiana Farmers. Those who drive 12,000 miles every year can expect to pay $1 less with Pekin over Indiana Farmers.

Indiana Farmers vs. Pekin: 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 auto insurance, but the type of area you live in can have a substantial impact as well. Typically, those who live in rural areas will pay less than drivers in urban areas because of the small number of vehicles that are on the roads in those areas.

Pekin boasts the most affordable average premiums for drivers in all types of areas, no matter if they're urban, suburban, or rural.

In urban areas, Pekin's average rates are about $85 while Indiana Farmers offers prices around $88. People in suburban areas pay about $68 with Pekin compared to Indiana Farmers's $83 per month. If you live in a rural area, you can expect to pay around $70 monthly with Pekin compared to Indiana Farmers's $72.

Indiana Farmers vs. Pekin 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 where do you even start? With so many discounts out there, it may seem hard to find all the of the ones you can take advantage of.

In the table below, we've taken a look at all of the different discounts Indiana Farmers and Pekin offer their customers so that you can find the one that has the most discounts and, therefore, the biggest savings.

Looking at the total number of discounts, Pekin comes out ahead with 10 discounts to Indiana Farmers's eight.

A couple of those are overlapping for things like advance quote discounts, discounts for being a good student, and multi-policy discounts. Pekin also offers anti-theft discounts, EFT discounts, group discounts, and more that Indiana Farmers does not.

On the flip side, Indiana Farmers has a couple unique discounts of its own -- discounts for being a good driver, mature driver discounts, renewal discounts, and more.

Final Thoughts: Is Indiana Farmers or Pekin Best for You?

So, you've seen how different factors can affect your auto insurance premiums. We've shown you all the discounts each carrier offers, too. That's all well and good, but when it comes down to it, which company is the right carrier for you and your specific driver profile?

Pekin might be best for you if....

• You want to save money on your car insurance after a collision.
• You're looking for more protection with "full coverage" auto insurance.
• You don't spend much time in your car.

Indiana Farmers might be best for you if...

• You have a DUI charge on your record.
• You want basic car insurance coverage at the state minimum limits.
• You're buying insurance for a teen and looking for a wallet-friendly option.

We hope this guide helps you get a better idea of the difference between Indiana Farmers and Pekin and that you can now make a more informed decision when it comes to your auto insurance.

But, at the end of the day, there's only one way to know for sure that you're getting the best possible deal on car insurance -- comparing quotes from several carriers, not just Indiana Farmers and Pekin. Luckily, sites like Compare.com make it easy for you to do just that. Just enter your ZIP code below and get multiple free quotes from some of the best insurance companies in your area, all in just a few minutes.

Indiana Farmers vs. Pekin FAQs

Is Indiana Farmers or Pekin cheaper?

Looking just at the national average rates, Pekin is the more affordable of the two carriers, offering average rates of $74 per month compared to $81 for Indiana Farmers. Even so, Pekin won't necessarily be the lowest carrier for everyone, since there are multiple different variables that come into play when it comes to your auto insurance payment.

Who is better, Indiana Farmers or Pekin?

Unfortunately, the answer truly is "it depends.". No single company is "better" for each driver -- it all depends on what your unique car insurance profile looks like. For example, Indiana Farmers offers cheaper premiums for drivers with a recent DUI, while Pekin is less expensive for drivers with excellent credit.

Why do Indiana Farmers and Pekin offer me different rates?

Insurance companies take a look at quite a few different factors when determining the rates they charge policyholders. Things like where you call home, where your home is, gender, age, and sometimes even things like your credit score can all be used. Both Indiana Farmers and Pekin calculate prices differently, so each one will most likely offer different rates. The only real way to see which carrier is the most affordable for you is by comparing personalized quotes from several different carriers.

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

The only way to find the car 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, 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 carriers in your area. With those, you can guarantee you're getting the best premium. And who knows, the best carrier for you might not be Indiana Farmers or Pekin 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.