Allstate was established in 1931. With almost 10% market share, Allstate is currently the fourth-largest underwriter of private passenger vehicle insurance policies. Allstate is best known for its auto coverage. However, it also sells a variety of other insurance products, such as life, boat, and pet insurance. To date, the company has sold 113,000,000 policies and has agents across all 50 states.
Farmers Insurance holds 4% of the market share and is the 7th largest car insurance company. It was established in 1928. The company currently covers more than 19,000,000 people in all 50 states. Farmers offers nine types of life insurance, as well retirement and investment options. Farmers has more than 48,000 agents across the country as of 2020.
Comparison of car insurance rates between Allstate and Farmers
It can be useful to compare car insurance companies by looking at their average rates and third party ratings. Below is a comparison of Allstate’s average premiums, financial strength scores, and overall customer satisfaction ratings. Farmers
Rates based on credit score
Car insurance companies in every state, except Hawaii, California and Washington, will use your credit score for determining your premium. Farmers offers lower rates for drivers with low credit scores than Allstate. Based on credit score, here are the Farmers annual rates vs. Allstate.
Rates based on age
The highest car insurance premiums are paid by young drivers. The rates are highest for 18-year-olds and decrease as drivers reach their mid-twenties. The rates for Allstate and Farmers are fairly consistent. They average about the same across both companies. Below are the average rates Allstate and Farmers offer drivers for their age.
Driving record rates
Farmers and Allstate offer comparable rates for drivers who have a clean driving record, one speeding ticket, and one accident. Allstate will charge a higher rate for drivers who have been convicted of DUI. Based on your driving record, here are the average Farmers rates vs. Allstate annual rates:
Allstate vs Farmers: Discounts
Both Allstate and Farmers offer a variety of car insurance discount that can help policyholders cut down on their premium. Each company offers different discounts. We also found that Allstate has more savings opportunities for Farmers than Allstate.
Farmers advertises on its website that it offers unrevealed state-specific discounts. We recommend that you contact the company to learn more about what savings may be available in your area. These are some of the special car insurance discounts that Allstate offers vs. Farmers
Allstate
- Allstate offers a new car discount. If your vehicle is one year old or the most recent model, you may get a lower premium.
- Reliable payer Discount — Drivers who have not received a cancellation notice regarding non-payment within one year could be eligible for a lower rate.
- Smart student discount — Young drivers who aren’t married and under 25 years old can get a lower insurance rate if they have a B- average or 2.7 GPA, complete teenSMART driver education or live at least 100 miles away from their car.
Farmers
- Multi-policy discount — Farmers insurance policies can be combined with other types of coverage like renters or home insurance to get a lower premium.
- Discounts without claims — Drivers with no insurance claims can save money by taking the claims-free discount.
- Signal program — Farmers’ safe driver discount program Signal can help you save up to 20% on the premium. You also get an additional 10% if you insure a driver younger than 25 years.
Allstate vs Farmers: Online and Mobile Experience Comparison
Allstate and Farmers compare in terms of mobile and online experience. Both companies offer online quotes and online claims. Allstate and Farmers offer helpful information to drivers looking for help in deciding which type of insurance or buying their first insurance policy.
Allstate and Farmers policyholders have the option to use the free mobile apps on iPhone and Android to manage their coverage. This is a detailed comparison of Allstate and Farmers. Comparison of the mobile apps for farmers from each company:
Allstate
- Appstore (4.8 Stars) — Allstate’s iOS app has received excellent reviews from the App Store. Access your ID cards and file a claim. You can also request roadside assistance, pay your bills, and contact your agent. You can also view your progress in the Drivewise mobile app if you’re enrolled in the safe driver discount program. You can also access the Allstate Digital Locker which is a digital inventory tool.
- Google Play (3.1 Stars) — Allstate’s Android application has the same features as its iPhone app. The Android version is not well-received. Users have complained that the Android version crashes or freezes suddenly, especially when they use the Drivewise feature.
Farmers
- App Store (4.8 Stars) — Farmers’ iPhone application is highly rated. Your phone can be used to make payments, access your ID cards, file claims, and connect with your agent. You can also request a new quote for insurance.
- Google Play (4.8 star) — Farmers for Android users offers all the same features as the iOS app. Users have positive feedback about the app. They praise its user-friendly interface, payment processing speed, and frequent updates.
Questions frequently asked
Is it legal to have car insurance?
Every state, except New Hampshire and Virginia, requires car insurance. Personal liability insurance is required in most states. If you reside in a state that has no-fault laws you will need to purchase personal injury protection.
What is the cost of car insurance?
The average price of car insurance depends on your personal factors such as your zip code and state, your age, credit score, driving record, and the carrier that will underwrite your policy. The average premium for full coverage car insurance in the United States is $1,674 annually.
Which is the best auto insurance company?
There are many auto insurance companies available, and each driver will have a different experience with each one. We recommend shopping around to compare providers and finding the best auto insurance company.