Is Farmer's Insurance the Cheapest Auto Insurance?

Is Farmer's insurance the cheapest auto insurance?

Farmer's auto insurance is one of the more expensive insurance companies in the United States, however, they should not immediately be dismissed because, with this company, you get what you pay for.

How Farmer's Ranks Among Other Insurance Companies:

U.S.News did a survey-based study of nine different auto insurance companies in the United States. In this study, they compared insurance companies based on various criteria including pricing, customer service satisfaction and coverage quality.

Pricing:

Unfortunately, Farmer's is one of the more expensive auto insurance companies in the United States. Their average annual rate is about $1,635. For males and females 60 and above, the average price will be resting around $1,450 a year, and for males and females of 25 years of age, that price will be around $1,880.

These rates are high no doubt. However, when you compare these rates with the national average and you also compare different aspects of quality between Farmer's insurance and other insurance companies, Farmer's insurance might not necessarily be a bad choice.

In comparison with the prices listed above, the national average price for individuals of at least 60 years of age is $1,165 a year, and for individuals of 25 years of age is about $1,500 a year.

With these numbers in mind, it would appear that Farmer's auto insurance is consistently about $350 to $400 more expensive than the national average.

Some Pros and Cons of Farmer's insurance:

The biggest and most obvious con with Farmer's insurance is that it is expensive. However, with some of the most expensive rates in the United States, they also have some of the best coverage and customer service.

More than 70% of people who filed a claim with Farmer's indicated that they would be very likely to renew coverage with the company. Indicating that they were very pleased with the quality of the coverage.

Furthermore, 70% of Farmer's customers who either have or have not filed a claim said they would recommend Farmer's insurance to someone who is looking for auto insurance.

The major cons of going with Farmer's have to do with the company's pricing. For example, less than 50% of the companies customers indicated that they were pleased with discounts offered by the company. After all, it is one of the most expensive insurance companies on the market.

Tips for Saving With Farmer's Insurance:

Although Farmer's insurance is one of the more expensive companies to chose from, there are still some things you can do to help save money on your auto insurance.

Your quote will be calculated by several factors, including your demographic information, like age, gender and zip code, but it will also take into account the vehicle you drive.

The less expensive the value of your vehicle the less your insurance will cost. The cheapest hypothetical vehicle would be an older vehicle that isn't worth too much and that has a high safety rating.

You could also make modifications to your current vehicle to make it safer, adding for example, anti-theft precautions.

Your driving record is also one of the most important factors in your insurance costs. Make sure to always drive safely, the fewer miles you drive the less your insurance will cost. Also, if you bundle insurance policies with Farmers your costs will be lower.

So although Farmer's insurance company is one of the most expensive in America, it is also one of the better quality companies. So if you're looking for a solid company and don't mind paying a bit more for it, Farmer's might be for you. But if you're looking to save money, you'll want to keep searching.