- Geico vs. Farmers: Which one is the cheapest?
- Geico vs. Farmers: Rates by age group
- Geico vs. Farmers: Rates for high-risk drivers
- Geico vs. Farmers: Which is better rated?
- Geico vs. Farmers: Rates in your state
- Geico vs. Farmers: Which offers better discounts?
- Geico vs. Farmers: The bottom line
- Methodology
Geico vs. Farmers: Which one is the cheapest?
Geico costs an average of $405, while Farmers has average rates for state minimum coverage of $701.
For full coverage with 100/300/100 in liability coverage and $500 deductibles for comprehensive and collision insurance, Geico costs an average of $1,763. Farmers costs more at an average of $2,387.
It’s always a good idea to shop around for quotes, however, because prices and coverage vary from state to state and depend on your individual situation.
| Company | Average annual rate for full coverage | Average annual rate for state minimum coverage | Average annual premium for liability-only car insurance |
|---|---|---|---|
| Geico | $1,763 | $405 | $560 |
| Farmers | $2,387 | $701 | $991 |
Geico vs. Farmers: Rates by age group
For a teen – one of the most expensive age groups to insure – Geico has the cheapest rates, coming in at $5,049 per year. Farmers costs an average of $8,348 for a teen driver.
Age is a major factor in calculating insurance rates. Companies look at speeding and accident trends as well as distracted driving statistics. Teen drivers are one of the riskiest – and therefore most expensive – age groups to insure. Rates drop as you get older.
For example, adults pay an average of $1,776 at Geico, while at Farmers the average rate for an adult is $2,336.
| Age (group) | Geico | Farmers |
|---|---|---|
| Teens | $5,049 | $8,348 |
| Young adults | $2,647 | $3,602 |
| Adults | $1,776 | $2,336 |
| Seniors | $1,787 | $2,290 |
Geico vs. Farmers: Rates for high-risk drivers
Geico has the best rates for high-risk drivers. A high-risk driver is someone who has multiple speeding tickets, accidents or a serious offense like a DUI on their record. This can make it a challenge to find affordable auto insurance.
For the drivers with DUI, Geico is cheaper, with average rates of $4,504.
Take a look at the table below for Geico’s rates compared to Farmers’s rates.
| Type of violation | Geico | Farmers |
|---|---|---|
| 1 At-fault property damage accident over $2K | $3,155 | $3,914 |
| 1 At-fault property damage accident under $2K | $3,147 | $3,890 |
| At-fault bodily injury accident | $3,320 | $4,128 |
| Careless driving | $2,447 | $4,414 |
| DUI | $4,504 | $5,129 |
| Reckless driving | $3,628 | $5,089 |
| Speeding | $2,831 | $3,380 |
Geico vs. Farmers: Which is better rated?
Customer service, claims processing and a positive online experience are just a few things to consider along with price when choosing an insurance carrier. Take a look at the table below to see how Geico and Farmers scored in the best car insurance companies of 2024.
Overall, Geico scored 4.20, while Farmers scored 3.69.
| Ratings | Geico | Farmers |
|---|---|---|
| NAIC | 0.91 | 0.80 |
| AM Best | A++ | A |
| Average annual premium | $1,764 | $2,388 |
| Average monthly premium | $147 | $199 |
| Customer Satisfaction | ||
| Insurance.com score |
Geico vs. Farmers: Rates in your state
Insurance rates vary from state to state. Carriers factor in data from your region and ZIP code, including weather, crime and traffic trends to calculate risk. The table below shows where you’ll find the cheapest rates for Geico and Farmers. Remember, always shop around for multiple quotes as prices will ultimately be determined by your personal situation and driving record in addition to your location.
| State | Geico | Farmers |
|---|---|---|
| Alabama | $1,625 | $2,542 |
| Alaska | $1,338 | N/A |
| Arizona | $1,312 | $2,331 |
| Arkansas | $1,794 | $2,248 |
| California | $1,919 | $3,035 |
| Colorado | $1,445 | $3,578 |
| Connecticut | $1,242 | $2,192 |
| Delaware | $1,695 | N/A |
| Florida | $2,214 | $3,261 |
| Georgia | $2,072 | N/A |
| Hawaii | $1,184 | $1,495 |
| Idaho | $1,174 | $1,606 |
| Illinois | $1,178 | N/A |
| Indiana | $986 | $1,956 |
| Iowa | $1,716 | N/A |
| Kansas | $1,622 | $1,992 |
| Kentucky | $2,106 | $3,548 |
| Louisiana | $2,983 | $3,002 |
| Maine | $1,228 | $1,664 |
| Maryland | $1,262 | N/A |
| Massachusetts | $1,269 | $1,966 |
| Michigan | $1,553 | N/A |
| Minnesota | $2,495 | N/A |
| Mississippi | $2,210 | N/A |
| Missouri | $3,217 | N/A |
| Montana | $2,382 | $2,939 |
| Nebraska | $2,372 | N/A |
| Nevada | $1,708 | $2,328 |
| New Hampshire | $1,212 | $1,954 |
| New Jersey | $1,563 | $2,254 |
| New Mexico | $1,406 | $2,740 |
| New York | $1,736 | N/A |
| North Carolina | $1,617 | $2,028 |
| North Dakota | $1,773 | $2,077 |
| Ohio | $1,373 | $1,794 |
| Oklahoma | $1,820 | $2,717 |
| Oregon | $1,683 | $2,210 |
| Pennsylvania | $2,308 | N/A |
| Rhode Island | $2,292 | $3,336 |
| South Carolina | $2,054 | N/A |
| South Dakota | $2,384 | $2,207 |
| Tennessee | $1,565 | $1,770 |
| Texas | $1,644 | $4,127 |
| Utah | $1,325 | $2,638 |
| Vermont | $1,276 | $2,333 |
| Virginia | $1,382 | N/A |
| Washington | $1,171 | $1,714 |
| Washington, D.C. | $1,408 | N/A |
| West Virginia | $2,248 | $2,442 |
| Wisconsin | $1,195 | $2,139 |
| Wyoming | $2,514 | $1,623 |
N/A represents data is not available.
Geico vs. Farmers: Which offers better discounts?
Discounts are a big draw for customers and can offer significant savings on your annual premiums. Below are some of the discounts Geico and Farmers offer to their customers.
| Discounts | Geico | Farmers |
|---|---|---|
| Primary Use | 9% | 2% |
| Purchase Status | 9% | 5% |
| Days Advanced Purchase | N/A | 8% |
| Marital Status | 7% | 4% |
| Multi Policy | 7% | 11% |
| Daily Commute | 6% | N/A |
| Days Per Week Driven | 5% | 2% |
| Payment Type | 16% | 5% |
| Lower Annual Mileage | 5% | 15% |
| Paperless/Electornic Documents | N/A | 5% |
| Homeowner | 12% | 5% |
| Years Licensed | 30% | 37% |
| Electronic Funds Transfer | N/A | 3% |
| Safety Devices | 2% | 3% |
| Loyalty - Years Renewal With Company | 3% | 1% |
| Air Bags | 2% | 1% |
| Years Insured | 14% | 19% |
| Education | 12% | N/A |
| Profession | 10% | N/A |
| Telematics | 10% | N/A |
| Anti-Theft Device | 1% | 0% |
N/A represents data is not available.
Always be sure to ask about available discounts when you’re shopping around for insurance to see what you may qualify for.
Geico vs. Farmers: The bottom line
Both Geico and Farmers are solid insurance companies, but if rates are what matter most to you, Geico may be the choice for you. However, we always recommend considering more than just rates to find the best car insurance for your needs and comparing quotes from multiple companies.
Methodology
Insurance.com commissioned car insurance rates from Quadrant Data Services for state minimum coverage and full coverage with liability limits of 100/300/100 with $500 deductibles. Base sample rates are based on a 40-year-old male driver with a clean record and good credit driving a 2023 Honda Accord LX. Rates were also fielded for multiple age groups and driver profiles compared with the base sample rate.
Company ratings were gathered from third-party sources including J.D. Power, AM Best and the National Association of Insurance Commissioners (NAIC). We also gathered data from the Insure.com annual survey of car insurance customers.
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