State Farm vs. Farmers Car Insurance [2020]

Compare car insurance for State Farm vs Farmers by looking at rates and discounts offered. State Farm has more auto insurance discounts than Farmers like good driving and good student discount packages.

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Zaneta Wood, Ed.S. has over 15 years of experience in research and technical writing bringing a keen understanding of data analysis and information synthesis to reach a wide variety of audiences. She studied adult education and instructional technology at Appalachian State University as well as technical and professional communication at East Carolina University. Zaneta has prepared technical p...

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Joel Ohman is the CEO of a private equity backed digital media company. He is a CERTIFIED FINANCIAL PLANNER™, author, angel investor, and serial entrepreneur who loves creating new things, whether books or businesses. He has also previously served as the founder and resident CFP® of a national insurance agency, Real Time Health Quotes. He has an MBA from the University of South Florida. Jo...

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Reviewed by Joel Ohman
Founder & CFP®

UPDATED: Jan 27, 2021

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Here's what you need to know...

  • State Farm is one of the largest financial institutions today
  • State Farm has more auto insurance discounts than Farmers
  • Farmers has more home insurance coverage options

Comparing State Farm and Farmers? Read through this Farmers – State Farm comparison, and use the free quote finder on this page to compare quotes from many top companies.

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Farmers Insurance Group History and Background

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Farmers Life Insurance Group was established in 1910 with the name New World Life.

It was an owned subsidiary of BAT Industries until a merger occurred between BAT Industries and Zurich Insurance in 1998.

Farmers Life Insurance group was the fifth largest casualty and property insurer in the United States around 1997. This major insurance company is located and headquartered in Los Angeles, California and also runs operations in thirty other U.S. states.

Farmers Insurance group is equipped with an elaborate distribution network containing and employing over sixteen thousand employees.

The Farmers Group is a reciprocal insurer company. They are also an industry leader in life, truck, fire, and auto insurance, including some other customer services.

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State Farm Insurance Group History and Background

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State Farm Insurance Group has been one of the most popular insurance companies around. It just so happens to be one of the largest financial institutions today.

State Farm Insurance Group was first established in 1922. The founder of State Farm was George Mecherle, and he was actually a former insurance salesman.

This insurance company has come a long way from its small beginnings. State Farm started out as a small auto insurance company that catered to agricultural and farming communities. Today, State Farm is the largest insurer of houses in the United States.

It has been claimed that State Farm insures more vehicles than any other insurance company in the United States.

State Farm controls a workforce of 17,000 agents and also 68,000 employees in Canada and in the United States. The insurance group also services over 75 million policies.

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State Farm Details

When it comes to auto insurance discounts, State Farm brings more to the table than Farmers.

The following are the auto insurance discounts that State Farm offers:

  • Steer Clear Safe Driver Discount
  • Driver Training
  • Good Student Discount
  • Good Driving Discount
  • Defensive Driving Discount
  • Anti-Theft Device Discount
  • Accident-Free Discount
  • New Vehicle Safety Discount
  • Multiple Vehicle Discount

The following are the auto insurance discounts that Farmers offers:

  • Occupational Groups (Firefighters, Police, Teachers, Dentists, RN’s, and Doctors)
  • Retired Professionals
  • Homeowners
  • New Parents
  • Alternative Fuel Vehicles (Hybrids)
  • Air Bags

It is plain to see that State Farm gives more auto discounts than Farmers. Farmers Insurance Group may offer some discounts that State Farm doesn’t, but State Farm makes up for it with a greater selection of beneficial discounts.

Farmers Details

When it comes to homeowners insurance coverage, State Farm just does not offer as much coverage for insuring other home aspects. State Farm only offers boat, motorcycle, condominium, and rental property coverage.

But look how much Farmers has to offer: boat, ATV, motor home, travel trailer, mobile home, rental property, condominiums, and motorcycle.

The best and wisest thing to do when choosing an insurance company is to diligently research every available company. You should try to get at least five different quotes.

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References:

  1. https://www.farmers.com/auto/
  2. https://www.bat.com/
  3. https://www.statefarm.com/insurance/auto/coverage-options
  4. https://www.americasgreatestbrands.com/volume6/pdf/StateFarm.pdf
  5. https://www.farmers.com/home/

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