GEICO vs. Farmers: Which company is best for you?
GEICO and Farmers enjoy widespread brand recognition as two of the most popular names in insurance. Both insurers offer a robust selection of insurance products and coverage options, and collectively take a large share of the auto insurance market — but which one is best for you? We've compared both companies to give you an idea of what you can expect as a customer. Read on to find out more.
GEICO car insurance
GEICO is one of the most recognizable insurers in the country and, as of 2020, has the second-largest share of the auto insurance market. Among comparable major companies, GEICO generally receives positive customer satisfaction ratings. We also found that it offers some of the most affordable rates compared to other insurers.
Farmers car insurance
Farmers customers can expect a variety of discount options and a wide selection of highly-customizable coverages. In general, they receive fewer customer complaints than average but customer satisfaction may suffer overall. Farmers also allows customers to combine car insurance with homeowners, renters and life insurance policies, which adds convenience and may lead to savings.
GEICO vs. Farmers: car insurance rate comparison
In an effort to simplify the comparison process, we've collected average rates from Farmers and GEICO. These rates cover an array of pricing components, including credit rating, driving history and age. Take a look at these rates to help you in your search for an affordable policy. Keep in mind, however, that your rates are likely to be different than our samples — these premiums should be used as a jumping-off point so you know what a fair car insurance quote looks like.
Because companies' rates differ by so many factors, including driving history, age, location and more, choosing a car insurance company can prove challenging, which makes it all the more important to compare their pros and cons.
GEICO has the most affordable rates overall on average. However, this can vary from person to person according to the rating factors companies use to generate estimates. This is why it's always a good idea to get quotes from many different insurers to see which policy is best for you.
GEICO vs. Farmers: pricing by credit score
If you have very poor credit, GEICO could be more affordable than Farmers. On average, GEICO offers cheaper rates than Farmers for drivers at every credit level. Check out average insurance costs by credit level for Farmers and GEICO:
RATES BY CREDIT LEVEL: FARMERS VS. GEICO
|Credit level||GEICO avg. annual premium||Farmers avg. annual premium|
|Very Poor (300-579)||$2,051||$2,633|
|Very Good (740-799)||$1,120||$1,459|
Auto insurance data methodology
The auto insurance rates published in this guide are based on the results of The Zebra's State of Insurance car insurance pricing analysis. This analysis of more than 83 million insurance rates spans every U.S. ZIP code, using a sample user profile: a 30-year-old single male driver with a Honda Accord, good credit and full coverage at these levels:
- $50,000 per person/$100,000 per incident for bodily injury liability
- $50,000 per incident for property damage liability
- $500 deductibles for collision and comprehensive coverage
To generate pricing for particular rating factors, we adjusted the driving profile based on common pricing factors used by major car insurance companies. These factors include credit score, coverage level, driving record and others.
In some instances, average rates from Liberty Mutual were derived from internally sourced sales data.
GEICO vs. Farmers: rates for high-risk drivers
RATES BY CITATION: FARMERS VS. GEICO
|Violation||GEICO avg. annual premium||Farmers avg. annual premium|
|At-fault accident (damage < $1,000)||$1,857||$2,334|
|At-fault accident (damage > $1,000)||$1,580||$1,699|
GEICO vs. Farmers: rates by age
Insurance companies use a driver's age as an estimator of risk, pricing premiums accordingly. An auto insurance policy is usually priciest for teen drivers — due to their increased odds of being involved in an accident — and more affordable for older drivers. Because every car insurance company prices age brackets differently, it's worth doing some comparison shopping.
According to our data, teen drivers should choose GEICO instead of Farmers: GEICO offers average yearly savings of $3.010 compared to Farmers. At all ages, GEICO was the cheapest.
RATES BY AGE: FARMERS VS. GEICO
|Age bracket||GEICO avg. annual premium||Farmers avg. annual premium|
Costs aside, GEICO and Farmers both have pros and cons, including discount programs, customer satisfaction ratings, policy add-ons and financial stability. Make an informed decision by getting quotes and comparing rates before finalizing a policy.
Compare rates and start saving today!
Ratings comparison: GEICO vs. Farmers
When looking for a new auto policy, cost shouldn't be the only thing to compare. While affordability is important, positive assessments from customers and third-party rating agencies can help you find an insurance company that provides good rates and great customer service. To help, we've found a variety of ratings for both GEICO and Farmers to help you determine each company's customer satisfaction level, number of complaints and fiscal security outlook.
|Financial strength (A.M. Best)||Superior||Excellent|
|JD Power (claims satisfaction)||Average||Excellent|
|JD Power (customer satisfaction)||Average||Below Average|
|The Zebra's editorial review score||5/5||4/5|
|The Zebra's Customer Satisfaction Survey||4.4/5||4.3/5|
The Zebra's Customer Satisfaction Survey
The Zebra conducted a survey to get a sense of which major car insurance providers are viewed by their customers. Find a rundown of the results below.
GEICO came in fourth place overall with a score of 4.4. Below are some highlights from the survey.
- GEICO placed first for Online Satisfaction (website and apps)
- Scored well for Customer Service and Willingness to Recommend
- Viewed most favorably by drivers in the Boomer generation
Farmers consistently ranked near the lower third of companies included in our survey. However, the company ranked 6th overall for claims satisfaction, indicating that customers are happy overall with the process. Among respondents, Farmers did best among younger drivers.
- Farmers auto insurance placed 10th overall
- Millennial and Gen X respondents rated Farmers higher overall
- Scored highest for claims satisfaction
The Zebra Customer Satisfaction Survey methodology
Findings are based on an online quantitative survey of 4,794 current U.S. auto and home insurance customers, with Census-balanced sampling by age, gender and region. Categories with n=<20 responses are considered insufficient sample size and are not reported. This survey was developed by The Zebra and executed by independent research firm Maru/Blue in 2023.
GEICO vs. Farmers: discount comparison
Car insurance discounts can help you save money on your insurance premiums. While individual discounts tend to be quite small, they can add up. Take a look at how discounts from GEICO and Farmers stack up below.
|Anti-lock brake system||✓||✓|
|Student away at school||✓|
|Affinity membership alum||✓||✓|
|Pay in full||✓|
|eSign or ePay||✓|
In addition to the discounts above, GEICO also offers a senior citizen discount to qualifying drivers. Compared to GEICO, Farmers offers more discounts on car insurance. If unsure, ask a representative about which discounts for which you may qualify.
Telematics options: GEICO vs. Farmers
GEICO and Farmers both offer telematics car insurance programs that can be beneficial to certain types of drivers. Have a look at the comparison below to see if one stands out as a better option for your insurance needs.
GEICO Drive Easy Pro is an app that tracks your driving habits to better assess your level of risk. For safe drivers, this can sometimes result in cheaper rates. Currently, the app is rated on app stores at 3.5 out of 5 stars (both Google Play and the Apple Store).
Signal is the telematics option from Farmers. The company advertises a 5% discount for signing up, with the promise of up to 15% savings for qualifying drivers. The company also offers an additional 10% savings for drivers under the age of 25 who enroll.
Unique amongst telematics programs, drivers enrolled in Farmers Signal — with a driving score of at least 80% — are also eligible to win up to $100 in rewards every month. Signal is not available in every state, and further restrictions may be imposed depending on where you live.
Roadside assistance: GEICO vs. Farmers
Roadside assistance is a great safety net against getting stranded on the side of the road due to a breakdown. Check out the different roadside assistance packages offered by both GEICO and Farmers below.
GEICO's roadside assistance offers the following benefits:
- Jump starts
- Tire changes (when you have a spare)
- Up to $100 for lockout services
- Fuel delivery
- Winching for stuck vehicles (depending on severity)
To contact Farmers Roadside Service, call 1-800-435-7764. Farmers covers up to $150 per incident (with special limits in North Carolina, Texas and Virginia) for the following services:
- Battery jump start
- Flat-tire change
- Winching services
- Lock-out services
GEICO vs. Farmers: home insurance
Both Farmers and GEICO offer homeowners coverage options. These can be purchased as individual policies or bundled together with auto or other coverage types. It's important to note that GEICO offers homeowners insurance through a number of partner companies instead of under its own banner.
GEICO homeowners insurance review
While not as large a portion of its business as auto insurance, homeowners coverage remains an important part of GEICO's product offerings. The company partners with many insurers throughout the nation to provide home insurance. Still, customer service scores and third-party ratings remain high.
- The Zebra Customer Satisfaction Survey – 4.4/5: GEICO's home insurance coverage earned a relatively high score in The Zebra's 2021 customer satisfaction survey.
- Claims satisfaction (J.D. Power) – Not rated
- Customer satisfaction (J.D. Power) – Not rated
- Financial strength (AM Best) – Superior: GEICO received an 'A' rating from AM Best, underlining its solid financial standing.
- NAIC Rating – Excellent: The National Association of Insurance Commissioners (NAIC) received fewer customer complaints than average regarding GEICO homeowners insurance in 2020.
Farmers homeowners review
Because of its robust policy options and reasonable rates, Farmers remains a popular option for homeowners insurance. The company earned roughly average reviews from various third-party reviewers and consumers and placed 7th overall for homeowners insurance in The Zebra's Customer Satisfaction Survey.
- The Zebra Customer Satisfaction Survey — 4.3/5: Farmers placed 7th overall in The Zebra's homeowners insurance customer survey.
- Claims satisfaction (J.D. Power) — Average: J.D. Power's property claims satisfaction study for 2021 gave Farmers an average score of 884 out of 1,000.
- Customer satisfaction — (J.D. Power) — Average: Farmers earned an average score in J.D. Power's study of customer satisfaction.
- Financial strength — Excellent: AM Best rates Farmers highly, meaning the company is in good financial shape.
- NAIC Rating — Good: Farmers received fewer complaints than did other major homeowners insurance companies.
GEICO vs. Farmers: home insurance rate comparison
Farmerss average annual homeowners insurance rate is $1,455, or just under $121 a month. Because GEICO does not underwrite its own homeowners policies, it's more difficult to provide accurate rate data.
Your individual rates will vary from one company to another. This is because every insurance company has different methods for underwriting. Your rates are highly dependent upon both where you live and your individual profile, and each company will weigh factors such as area crime, proximity to fire-fighting services and the age of your home differently.
For this reason, it's highly recommended that you shop for homeowners quotes from a number of different sources, as this will likely lead you to the best rate. While cost is an important factor when shopping for homeowners insurance, it's most important to have good coverage from an insurer that you can trust.
Based on the data we have available, Farmers has the cheapest home insurance rates at around $121 per month.
Homeowners insurance data methodology
The homeowners insurance rates published in this guide are based on The Zebra's analysis of the cost of home insurance in every U.S. ZIP code. These rates are based on a sample user profile: a 45-year-old married homeowner living in a 2,500-square-foot single-story home built in 2011 with these coverage levels:
- $200,000 for the dwelling
- $20,000 for other structures
- $100,000 for personal property
- $100,000 for personal liability
- $1,000 deductible
To generate pricing for particular rating factors, we adjusted the homeowner profile based on common pricing factors used by major home insurance companies. These factors include location, coverage limits, claims record and others.
GEICO vs. Farmers: homeowners discount comparison
Home insurance discounts are useful for saving some money on your policy. Both companies offer such discounts, though Farmers provides more opportunities to save.
|Recent home buyer|
|Newer/more durable roof||✓|
|Protective devices (smoke/burglar alarms, etc.)||✓||✓|
|Paid in full|
In addition to the discounts listed above, Farmers also offers opportunities to lower your rate if you have a smart home, are non-smoking, and discounts based on career. It's important to note that there may be more options for discounts through GEICO's partner companies. Be sure to verify with each insurer that you're getting all of the discounts you qualify for before finalizing your policy.
Other insurance products and bundling options
GEICO and Farmers both have options for bundling multiple policy types. Bundling policies can lead to savings in many cases. See our table below for a side-by-side comparison.
|Travel trailer insurance||✓||✓|
|Mobile home insurance||✓||✓|
|Offroad vehicles and ATVs||✓||✓|
Find the best insurance policy for your needs.
Other people are also asking...
If I paid to have a window replaced on my car, can I submit the receipt to my insurance company for reimbursement?
About The Zebra
The Zebra is not an insurance company. We publish data-backed, expert-reviewed resources to help consumers make more informed insurance decisions.
- The Zebra’s insurance content is written and reviewed for accuracy by licensed insurance agents.
- The Zebra’s insurance editorial content is not subject to review or alteration by insurance companies or partners.
- The Zebra’s editorial team operates independently of the company’s partnerships and commercialization interests, publishing unbiased information for consumer benefit.
- The auto insurance rates published on The Zebra’s pages are based on a comprehensive analysis of car insurance pricing data, evaluating more than 83 million insurance rates from across the United States.