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GEICO and Farmers are both major insurers with large national presences. While GEICO sells auto insurance policies in all 50 states, Farmers offers them in 42 states.
However, price-conscious consumers will find GEICO undoubtedly the better choice as its average premiums are far lower than those of Farmers for all categories of drivers. GEICO also makes it easier to earn certain discounts, such as for safe driving.
GEICO doesn't offer guaranteed asset protection (GAP) insurance, though, while Farmers does. Farmers also has a larger agent network for in-person support and a better reputation for claims handling. So, if the company sells auto policies in your state and you care more about customer support than price, Farmers may be the better choice.
How we evaluate products
FinanceBuzz researches a number of factors in each auto insurance provider to create our reviews. These factors include cost and discounts, complaints and customer satisfaction, coverage, and ease of use. We also gather information from sources such as Insurify, J.D. Power, AM Best, the National Association of Insurance Commissioners (NAIC), and the Better Business Bureau to ensure we provide the most useful information to our readers.
GEICO pros and cons
- Cheaper premiums than Farmers and the national average
- Below-average number of NAIC complaints for private passenger coverage
- Safe driver discount available after only one year
- No GAP insurance coverage
- Below-average customer claims satisfaction rating with J.D. Power
- Fewer in-person agents for support
Learn more in our GEICO review
Farmers pros and cons
- Huge number of local agents for in-person support
- GAP insurance for those with car loans or leased vehicles
- Above-average customer claims satisfaction rating with J.D. Power
- Not available in all 50 states
- Safe driver discount takes three years to earn
- Above-average premiums compared to GEICO
- More NAIC complaints for private passenger coverage than GEICO
Learn more in our Farmers review
Which company is better?
| GEICO | Farmers | |
| AM Best | A++ | A |
| J.D. Power claims satisfaction | 692/1,000 | 706/1,000 |
| BBB | A+ (Accredited) | A+ (Not accredited) |
| NAIC complaints (private passenger) | 0.59 | 0.99 |
There are different ways to measure which insurance company is better. While AM Best looks at the company's financial stability, the J.D. Power U.S. Claims Satisfaction Survey assesses how happy people are with the claims process. The BBB and NAIC provide a broader picture of the overall customer experience. While the BBB focuses on a company's reviews and ratings, the NAIC shows the number of consumer complaints compared to the industry average.
This data shows that GEICO is slightly more financially sound than Farmers and has a lower overall number of NAIC complaints for its private passenger insurance coverage. Unlike Farmers, GEICO is also BBB-accredited. However, Farmers has a better J.D. Power claims satisfaction rating, and its slightly lower financial stability rating is still strong. Both companies have A+ ratings with the BBB.
While none of the lower ratings is disqualifying for either company, it's worth noting that GEICO's claims satisfaction score isn't just below that of Farmers but also the national average.
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Which company is cheaper?
If saving money on car insurance is your primary goal, there's no question about which insurer is going to be right for you. GEICO's average premiums come in below Farmers for every different type of driver — from those with a perfect record to motorists with a history of speeding or a DUI.
Here's a look at GEICO's average premiums by driver type.
| Driver type | GEICO liability-only monthly premium | GEICO full-coverage monthly premium |
| Clean driving record | $52 | $114 |
| Speeding ticket on driving record | $63 | $138 |
| At-fault accident on driving record | $67 | $145 |
| DUI on driving record | $85 | $185 |
| Teen driver | $84 | $183 |
| Senior driver (60s) | $40 | $87 |
| Senior driver (70s) | $39 | $84 |
| Data sourced from Insurify | ||
Compare GEICO's rates to Farmers' below.
| Driver type | Farmers liability-only monthly premium | Farmers full coverage monthly premium |
| Clean driving record | $105 | $227 |
| Speeding ticket on driving record | $127 | $276 |
| At-fault accident on driving record | $133 | $289 |
| DUI on driving record | $170 | $368 |
| Teen driver | $195 | $424 |
| Senior driver (60s) | $76 | $165 |
| Senior driver (70s) | $72 | $156 |
| Data sourced from Insurify | ||
Clean driving record
For drivers with a clean record, average monthly premiums are considerably higher from Farmers than from GEICO. In fact, while GEICO offers below-average premiums for drivers with no black marks on their license, the average rates Farmers charges for liability and full coverage insurance are higher than both GEICO's rates and the nationwide averages.
Average rate:
Speeding ticket on driving record
Most drivers with a speeding ticket will find that GEICO offers cheaper coverage. The average premium a speeding driver will pay for coverage is about twice as much with Farmers compared to GEICO.
At-fault accident on driving record
After an at-fault accident, drivers can expect that any insurer will raise their rates. However, GEICO's average annual premiums are about half what Farmers charges. GEICO is the winner for both drivers with major accidents and those with minor fender benders on their records.
DUI on driving record
Drivers with a DUI conviction on their records will likely pay less if they get coverage from GEICO compared to Farmers. Average premiums are about twice as high with Farmers.
Teen driver
While expensive to insure with both companies, teen drivers can likely get much lower-priced coverage from GEICO than from Farmers. Average premiums for drivers in their teens are around half as costly with GEICO.
Senior driver
GEICO's average premiums for seniors are also about half of what Farmers charges the typical older motorist getting coverage in their 60s or 70s.
Discounts
There are ways to lower car insurance costs with both GEICO and Farmers, and it's worth looking at what opportunities each company offers to further save on coverage.
Both GEICO and Farmers offer many discounts, but some of GEICO's can be easier to qualify for. For example, GEICO's safe driver discount allows you to become eligible for reduced premiums if you've been accident free for a year while Farmers requires three years of accident-free driving to save.
Since GEICO's average premiums start out lower than Farmers' and the companies offer very similar discounts, Farmers may simply not have enough extra discounts to reduce your premiums enough to match GEICO's prices.
| Discount | Does GEICO have it? | Does Farmers have it? |
| Loyalty | No | Yes |
| Multi-policy/bundling | Yes | Yes |
| Multiple vehicle | Yes | Yes |
| Airbag | Yes | Yes |
| Anti-lock brakes | Yes | No |
| Anti-theft | Yes | Yes |
| Safe driver | Yes | Yes |
| Good student | Yes | Yes |
| Away-from-home student | Yes | Yes |
| New car | Yes | No |
| Pay in full | Yes | Yes |
| Automatic payments | Yes | Yes |
| GAP insurance | No | No |
| Senior | No | Yes |
| Military | Yes | Yes |
| Defensive driving course | Yes | Yes |
GEICO DriveEasy vs. Farmers Signal
GEICO DriveEasy and Farmers Signal are both telematics-based programs that can lower your premiums if you allow the insurers to monitor your driving and you can operate your vehicle safely.
DriveEasy uses your phone to monitor things like taking corners quickly, braking hard, and using your phone while driving. Plus, it looks at the trips you take, including the time and distance.
Farmers Signal also uses your phone to monitor behavior. It provides a discount for signing up and additional savings for safe habits. As a bonus, Signal offers CrashAssist to get you help after a collision, and you can win monthly rewards of up to $100 for a high focused driving score.
Coverage
GEICO and Farmers both offer most of the standard types of coverage you'd expect from any insurer, including liability coverage, collision, and comprehensive insurance, as well as add-ons like rental car reimbursement. Common types of coverage both companies offer include:
- Bodily injury liability coverage
- Property damage liability coverage
- Medical payments coverage
- Personal injury protection
- Collision coverage
- Comprehensive coverage
- Uninsured/underinsured motorist coverage
- Emergency roadside assistance
- Rental reimbursement
However, there are some important differences between these two insurers.
While GEICO does not offer GAP insurance, Farmers does. This insurance product is important for financed or leased cars as it pays the difference between the amount due on the loan or lease and the car's fair market value (which is all the insurance company will pay if a car is totaled or stolen).
Farmers also stands out for its original equipment manufacturer (OEM) parts coverage, rideshare insurance, new car replacement coverage, and customized equipment coverage.
On the other hand, GEICO provides the option to buy mechanical breakdown insurance, which Farmers doesn't offer. This pays for repairs to your vehicle's mechanical parts, excluding issues caused by wear and tear.
FAQs
How do I contact GEICO?
You can contact GEICO online by using live chat or logging into your account to send a secure message. You can also call the phone number for sales and service at (800) 207-7847.
How do I contact Farmers?
The Farmers customer care line is open Monday to Friday from 7:00 a.m. to 11:00 p.m. CST and Saturday to Sunday from 8:00 a.m. to 8:00 p.m. CST. You can call 888-327-6335, you can use online chat to contact an agent, and the claims center hotline is available 24/7 at 800-435-7764.
Which is better, Farmers Insurance or GEICO?
GEICO is a better option for price-conscious drivers who aren't concerned about the size of the local agent network. Farmers has a better reputation for insurance claims handling and thousands of agents who are eager to help you with your auto insurance questions.
Why is my Farmers car insurance bill so high?
Your Farmers car insurance bill may be high if you've had an accident, your credit score is low, you have a teen driver on your policy, or you're considered riskier to insure for some other reason. If you believe your bill is too high, ask about discounts or shop around to find more affordable coverage.
Bottom line
The best car insurance will ultimately depend on your needs. If available in your state, Farmers may be right if you prioritize a hassle-free claims process and want many local agents around to help with insurance issues. However, if you want to pay as little as possible for coverage, you may prefer GEICO as its average premiums for all drivers are cheaper.
Still, it's a good idea to compare quotes from multiple other car insurance providers to find the best deal for the coverage you need.
Average rate:
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