GEICO and Farmers are two major carriers to consider when you’re shopping for a new car insurance policy. Ranked Numbers 2 and 6, respectively, among the largest auto insurance companies, each carrier started with a narrow customer base. GEICO was initially for government employees, and Farmers was created for, well, farmers and their vehicles.
Today these popular companies offer policies with many coverage options to the broader public. Keep reading to compare each company and learn about their coverage options, pricing, discounts, and more.
Check out our GEICO car insurance review and Farmers Car Insurance Review for more information about these companies.
GEICO and Farmers both offer standard car insurance coverage such as:
Check out our article on common types of auto insurance to learn more about basic coverage.
Additional coverage from GEICO and Farmers may be available as add-ons to enhance basic coverage in some states.
Many variables will influence your car insurance rates. Each person’s premium is unique because of factors that include their driving record, age, gender, geographic location, vehicle type, and creditworthiness. The average annual miles you drive also gets factored in.
GEICO is known for having inexpensive insurance rates. According to The Zebra, the average monthly premium cost with GEICO is less than $100. Farmers coverage comes in on the higher side of the car insurance cost spectrum. Its average monthly cost is $131.
This table compares average annual premiums between GEICO and Farmers by age tier.
| Age Group | GEICO | Farmers |
| Teens | $3,508 | $6,518 |
| 20s | $1,438 | $2,020 |
| 30s | $1,218 | $2,020 |
| 40s | $1,189 | $1,511 |
| 50s | $1,160 | $1,507 |
| 60s | $1,065 | $1,402 |
Source: The Zebra
One typical discount offered by carriers is bundling auto insurance with home, renters, boat, motorcycle, or another insurance policy. Most insurers encourage customers to take advantage of the discount, but be sure to ask about multi-policy and multi-vehicle bundling options through GEICO and Farmers.
Policyholders with these companies may be eligible for an array of auto insurance discounts and perks:
Other discounts may be available to eligible customers. For example, GEICO provides a break for members of the military and for driving a car with the latest safety tech. Farmers offers a discount on coverage for alternative-fuel vehicles.
When shopping for car insurance, you should consider more than the expense. Some drivers believe that you get what you pay for, and that higher prices equate to better service. Regardless of the cost, your insurance company should provide good customer service, quickly respond when you need help, and pay submitted claims.
Insurance companies often receive mixed reviews for their service. A J.D. Power 2021 U.S. Auto Insurance Study provides key insights from the responses of nearly 39,000 car insurance customers. The survey measures vital criteria regarding customer satisfaction:
GEICO earns “average” results in the customer satisfaction survey. J.D. Power ranked Farmers near the top of the pack with an “excellent” rating in overall claims satisfaction in 2021.
A.M. Best assesses insurance companies’ ability to meet their ongoing policy and contractual obligations. According to The Zebra, GEICO’s rating is “superior,” and Farmers has an “excellent” rating.
While the company ratings are slightly different, both carriers have the financial strength to cover their customers’ claims.
Deciding on the best car insurance company for you is a personal matter. Your needs are unique and the decision requires many considerations. You should request a quote from GEICO, Farmers, and other insurance companies to get the exact cost of a policy that provides the coverage you need.
Both Farmers and GEICO offer standard coverage that likely will suit your situation. GEICO typically offers lower rates. However, Farmers’ customer satisfaction with claims ranks higher among the major insurers.
The cost of insurance is the primary concern for many drivers, but there are many factors you should examine. Above all, be sure to understand coverage details before renewing or signing a new insurance policy. Make sure you feel comfortable that it meets all your needs before signing a policy when buying a new vehicle or renewing your existing coverage.
