Allstate vs Farmers Auto Insurance

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Allstate vs. Farmers Auto Insurance: Which Company Is Best For You in 2020?

Competition among the auto insurance industry gives vehicle owners the freedom to choose between many suitable companies based on several factors.

The downside to having so many options is that it can be challenging to choose a specific provider. Rates usually vary based on your location, age, and driving history. In the United States, Allstate and Farmers are two of the most popular auto insurance providers offering comparable policies.

To find the right policy for you, we have gathered information from both Allstate and Farmers insurance. The companies’ respective histories, pricing components, and financial standings are included.

Allstate vs. Farmers: Company Overview

Allstate has its headquarters in Northbrook, Illinois and has been selling insurance since 1931 as part of Sears, Roebuck, and Company. Today, the company runs 15 companies around the United States and Canada while employing 37,000 people and hosting 17 million policyholders.

Farmers Insurance was started back in 1928 by two rural residents of Los Angeles, California. The company still resides there, though it has since been bought by Zurich Financial Services, based out of Sweden. It has about 20,000 employees and 15 million policyholders.

Allstate vs. Farmers: Basic Offerings

Allstate offers quality protection at an excellent price and the personal attention to help choose the coverage that’s most sensible for you. Allstate also gives you access to multiple options, all designed to complement your plans.

Farmers Insurance knows that protecting your vehicle is more than a fundamental obligation. Farmers Insurance provides flexibility along with unmatched customer and claim service.

Allstate vs. Farmers: Rates by Credit Level

Insurance providers use your credit score to determine which plan is best for you and at what cost.

If you have bad credit, especially for drivers whose credit score is below 580, Farmers Insurance could be the better option for you. If you have a credit score of 800 or above, you should choose Allstate for your insurance needs.

RATES BY CREDIT SCORE: Allstate vs. Farmers

Credit level Allstate avg. annual premium Farmers average yearly premium
Very Poor (300-579) $3,117 $2,633
Fair (580-669) $2,162 $1,736
Good (670-739) $2,021 $1,882
Very Good (740-799) $1,820 $1,459
Exceptional (800-850) $1,743 $1,354

Allstate Vs. Farmers: Rates For Drivers With Bad Driving Records

Farmers Insurance could be a better option for you than Allstate if you have a DUI, reckless driving violation, speeding ticket, or at-fault collision on your driving record. Each auto insurance provider determines enacts rate penalties differently, which is why you should consider comparing quotes from different providers to find the insurer that suits you best.

RATES BY VIOLATION: Allstate VS Farmers
Violation Allstate avg. annual premium Farmers average yearly premium
At-Fault Accident (<$1,000 in Damages) $3,006 $2,334
At-Fault Accident (>$1,000 in Damages) $2,290 $1,699
DWI/DUI $3,637 $3,239
Reckless Driving $3,388 $4,636
Speeding $2,256 $2,045

Allstate Vs. Farmers: Rates by Age

Insurance providers also rely on age to determine risk and assign rates on a sliding scale. Young people are far more likely to be involved in accidents, mainly due to their lack of experience, and therefore are charged higher rates.

Young drivers should consider Allstate instead of Farmers, as Allstate offers average annual savings of about $76 compared to Farmers. Allstate and Farmers have their respective pros and cons, which you should consider before selecting a provider.

Young drivers should consider Allstate instead of Farmers, as Allstate offers average annual savings of about $76 compared to Farmers. Allstate and Farmers have their respective pros and cons, which you should consider before selecting a provider.

RATES BY AGE: Allstate VS Farmers
Age Group Allstate avg. annual premium Farmers Average Yearly Premium
60+ $1,768 $1,402
50-59 $1,893 $1,507
40-49 $1,912 $1,511
30-39 $1,920 $2,020
20-29 $2,636 $2,020
16-19 $6,442 $6,518

Allstate Vs. Farmers: Discount Options

Discounts Offered by Both Allstate and Farmers
Air Bags
Anti-Lock Brake System
Anti-Theft Device(s)
Good Student
Good Driver
Green Vehicle
Student Away at School
Multiple Policies
Discounts Offered by Farmers Insurance Exclusively
Home Owner
Multiple Vehicles

Farmers also offer an additional discounts for seniors.

Discounts Offered by Allstate Exclusively
New Vehicle
Telematics
Pay in Full
Advance Purchase
Driving Training
Defensive Driver

Allstate also offers additional discounts for the newly retired seniors, farm vehicles, and utility vehicles

Discounts Not Offered By Either Allstate Or Farmers
Affinity Membership Alum
Military
Annual Mileage
ePay or eSign

Allstate vs. Farmers: Roadside Assistance

Both Allstate and Farmers offer roadside assistance but with differences in each plan.

Allstate customers enjoy access to the company’s 24/7 roadside assistance service with no annual fee. The pay-per-use coverage offered by the company means that you only pay for a particular service when you need it. It is typically $99 for a tow and $84 for using other services such as a locksmith, fuel delivery, jump starts, and tire changes.

Farmers Insurance also offers Roadside Assistance that covers winching, towing, flat tire changes, jump starts, and locksmith services for up to $150.

Allstate vs. Farmers: J.D. Power Claims Rating

The J.D. Power Claims Satisfaction report allows consumers to have a better understanding of how insurance companies rate against their competitors. According to J.D. Power Claims Rating for 2017, Allstate and Farmers both had a 3-out-of-5 rating for overall satisfaction.

Allstate vs. Farmers: Financial Strength

Allstate has a superior credit rating that supports its sound financial standing. Moody’s has given the company a grade of “Aa3”, which indicates a very stable outlook. A.M. Best has awarded Allstate a Financial Strength Rating of “A+” as well as an Issuer Credit Rating of “AA,” which both signify the company is in excellent financial standing.

As for Farmers Insurance, A.M. Best gave them a Financial Strength Rating of “A” and a Long-Term Issuer Credit Rating of “A.” Moody’s rated Farmers with a “Baa2.” Both of these ratings are outstanding assessments of a financially healthy company.

Specific Ratings Allstate Farmers
Financial Strength  Superior Excellent
JD Power Rankings 
3 out of 5
3 out of 5
User Satisfaction 
A+
A+

Allstate and Farmers are both auto insurance providers that have qualities customers can get behind. They both have a terrific customer service department and offer a decent selection of discounts.

The best way to ensure that you get the best coverage possible is to keep your situation and needs in mind and get auto insurance quotes from all companies. You should also remember to read all the terms and conditions before selecting an auto insurance policy. Try our Insurance Online's free insurance quote comparison tool to compare cheap rates instantly from the best auto insurance companies in your zip code.