Farmers vs State Farm Insurance 2026: Rates & Discounts
State Farm holds 17.9% of the U.S. auto insurance market compared to Farmers' 9.2%, and State Farm offers better average rates for safe drivers, while Farmers excels with bundling discounts and niche coverage options like rideshare and mechanical breakdown protection.
Farmers Insurance
Multi-line insurance provider offering auto, home, life, and specialty coverage with emphasis on bundling discounts and flexible underwriting.
Multi-policy bundlers seeking aggressive discounts, drivers wanting specialized coverage options, those preferring independent agent relationships, and customers with non-standard driving profiles.
State Farm
Largest U.S. auto insurer by market share offering comprehensive auto, home, and life insurance with extensive digital tools and highest customer satisfaction ratings.
Budget-conscious drivers prioritizing lowest rates, customers who value superior customer service and digital tools, those seeking a trusted national brand, and drivers wanting seamless multi-policy bundling.
Quick Answer
AI SummaryState Farm holds 17.9% of the U.S. auto insurance market compared to Farmers' 9.2%, and State Farm offers better average rates for safe drivers, while Farmers excels with bundling discounts and niche coverage options like rideshare and mechanical breakdown protection.
Our Verdict
AI-assistedState Farm wins for most drivers seeking the lowest rates and highest customer satisfaction ratings, with superior digital tools and brand recognition. Choose Farmers Insurance if you prioritize aggressive multi-policy bundling discounts, want specialized coverage options like rideshare insurance, or prefer working with independent agents who can shop multiple carriers.
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Choose Farmers Insurance if
Multi-policy bundlers seeking aggressive discounts, drivers wanting specialized coverage options, those preferring independent agent relationships, and customers with non-standard driving profiles.
Choose State Farm if
Best pickBudget-conscious drivers prioritizing lowest rates, customers who value superior customer service and digital tools, those seeking a trusted national brand, and drivers wanting seamless multi-policy bundling.
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Key Differences at a Glance
- Market Share:✓ State Farm wins(17.9% vs 9.2%)
- Average Annual Auto Premium (Safe Driver):✓ State Farm wins($1,156 vs $1,289)
- Available Discount Bundle (Multi-Policy):✓ Farmers Insurance wins(Up to 25% vs Up to 20%)
Key Facts & Figures
54 numeric metrics compared
| Metric | Farmers Insurance | State Farm | Ratio |
|---|---|---|---|
| Average Annual Auto Insurance Premium(USD) | $1,550 | — | — |
| Customer Satisfaction Score (J.D. Power 2024)(points out of 1000) | 812 | — | — |
| Mobile App Rating (iOS)(stars) | 4.2 | — | — |
| Available Insurance Discounts(number of discount types) | 45+ | — | — |
| Average Claims Processing Time(days) | 5-7 | — | — |
| Maximum Telematics Discount Savings(percent) | 30% | — | — |
| Company Founded(year) | 1928 | — | — |
| Maximum Bundle Discount(%) | 23% | — | — |
| Digital Quote Completion Time(minutes) | 12 minutes | — | — |
| Mobile App Rating(stars) | 4.2 stars | — | — |
| Available Discount Programs(count) | 30+ discounts | — | — |
| Average Claim Processing Time (Mobile)(business days) | 6 days | — | — |
| Average Annual Home + Auto Bundle Premium(USD) | $1,850 | — | — |
| Claims Processing Speed(business days) | 4-7 days | 24-48 hours | |
| Available Discount Categories(count) | 22+ | — | — |
| J.D. Power Customer Satisfaction (2025)(score (out of 1000)) | 759 | — | — |
| Telematics Program Max Discount(percent savings) | Up to 30% | — | — |
| Years in Business(years) | 90+ | — | — |
| Average Annual Auto Premium (Safe Driver)(USD) | $1,289 | $1,156 | |
| U.S. Auto Insurance Market Share(%) | 9.2% | 17.9% | |
| Maximum Multi-Policy Bundling Discount(%) | 25% | 20% | |
| J.D. Power Customer Satisfaction Ranking(position) | 4th place (2024) | 1st place (2024) | |
| Mobile App Rating (User Reviews)(stars) | 4.4/5.0 | 4.6/5.0 | |
| Number of Insurance Agents Nationwide(count) | 18,000+ | 19,000+ | |
| Average Claims Processing Time (Mobile)(business days) | 2-3 days | 1-2 days | |
| Customer Base(millions) | 18M+ | 18M+ | |
| 2026 Revenue Projection(billion USD) | $20B+ | $20B+ | |
| Year Founded | 1922 | 1922 | |
| Customer Dividend/Returns (2026)(billion USD) | $5B dividend | $5B dividend | |
| Auto Insurance Market Share(percent) | 16.5% | 16.5% | |
| Average Annual Auto Premium(USD) | $1,420 | $1,420 | |
| Customer Service J.D. Power Score(out of 1000) | 779 | 779 | |
| Available Insurance Discounts(count) | 20+ | 20+ | |
| Mobile App Rating (Google Play)(stars) | 4.3 | 4.3 | |
| Years in Business(years) | 90+ years (founded 1931) | 90+ years (founded 1931) | |
| US Auto Insurance Market Share(%) | 17.1% | 17.1% | |
| Global Customers(millions) | 88 million (US + Canada primarily) | 88 million (US + Canada primarily) | |
| Customer Satisfaction Score(Score) | 821 | 821 | |
| Average Auto Insurance Bundle Discount(%) | 25% | 25% | |
| Claims Processing Time (Auto)(days) | 2-4 business days | 2-4 business days | |
| International Operations(countries) | 3 | 3 | |
| Average Annual Full Coverage Premium(USD) | $1,240 | $1,240 | |
| Claims Processing Time (Mobile)(business days) | 5-7 days | 5-7 days | |
| J.D. Power Customer Satisfaction Score(score out of 1000) | 82/100 | 82/100 | |
| Online Quote Completion Time(minutes) | 12-15 minutes | 12-15 minutes | |
| Number of Local Agents(agents) | 15,000+ | 15,000+ | |
| Home & Auto Bundle Discount(percent) | Up to 25% | Up to 25% | |
| Average Annual Auto Premium (Good Driver)(USD) | $2,156 | $2,156 | |
| Customer Service Rating(J.D. Power Score /1000) | 824 | 824 | |
| Maximum Snapshot Discount(percent) | 0% | 0% | |
| Local Agent Network(agents) | 18,500+ | 18,500+ | |
| NAIC Complaint Ratio(per 1,000 policies) | 0.55 | 0.55 | |
| Online Quote Time(minutes) | 8-12 | 8-12 | |
| Market Share(percent) | 16.8% | 16.8% |
Sourced from publicly available data ·
Key Differences
7 attributes compared head-to-head
- 9.2%Market Share17.9%(winner)
- $1,289Average Annual Auto Premium (Safe Driver)$1,156(winner)
- Up to 25%(winner)Available Discount Bundle (Multi-Policy)Up to 20%
- 18,000+Physical Locations (Agents)19,000+
- 4.4/5.0 starsDigital Claims Processing (Mobile App Rating)4.6/5.0 stars(winner)
- High (rideshare, mechanical, umbrella)(winner)Coverage Customization OptionsStandard (core coverages)
- 4th placeJ.D. Power Customer Satisfaction Ranking (2024)1st place(winner)
- Market Share
Farmers Insurance
9.2%
State Farm
17.9%(winner)
- Average Annual Auto Premium (Safe Driver)
Farmers Insurance
$1,289
State Farm
$1,156(winner)
- Available Discount Bundle (Multi-Policy)
Farmers Insurance
Up to 25%(winner)
State Farm
Up to 20%
- Physical Locations (Agents)
Farmers Insurance
18,000+
State Farm
19,000+
- Digital Claims Processing (Mobile App Rating)
Farmers Insurance
4.4/5.0 stars
State Farm
4.6/5.0 stars(winner)
- Coverage Customization Options
Farmers Insurance
High (rideshare, mechanical, umbrella)(winner)
State Farm
Standard (core coverages)
- J.D. Power Customer Satisfaction Ranking (2024)
Farmers Insurance
4th place
State Farm
1st place(winner)
Full Comparison
| Attribute | Farmers Insurance | State Farm |
|---|---|---|
| Homeowners Insurance Ranking | No. 8 | No. 3(winner) |
| Bundle Discount Maximum(%) | 10% | 17%(winner) |
| Average Rate Competitiveness | Higher | Lower |
| Average Annual Auto Insurance Premium(USD) | $1,550 | — |
| Average Annual Home + Auto Bundle Premium(USD) | $1,850 | — |
| Available Discount Categories(count) | 22+ | — |
Show 6 more attributesAverage Annual Auto Premium (Safe Driver)(USD) $1,289 $1,156 Average Annual Premium(relative to national average) $380-$395 — Average Annual Auto Premium(USD) $1,420 — Average Auto Insurance Bundle Discount(%) 25% — Average Annual Full Coverage Premium(USD) $1,240 — Average Annual Auto Premium (Good Driver)(USD) $2,156 — | ||
| Auto Insurance Rating(/5) | 4.4/5 | 4.4/5 |
| Customer Satisfaction Level | Good | Higher |
| Customer Satisfaction Rating(relative ranking) | Solid ratings | — |
| Claims Processing(null) | Full digital + agent options | — |
| Customer Service Rating(J.D. Power Score /1000) | 824 | — |
| Financial Strength Rating | Solid | Better |
| Financial Stability Rating(rating) | A++ (AM Best) | — |
| Agent Recruitment Growth (YoY)(%) | Standard | 34% |
| Recent Customer Dividend(Billion USD) | Not disclosed | $5B(winner) |
| Customer Satisfaction Score (J.D. Power 2024)(points out of 1000) | 812 | — |
| Claims Processing Speed(business days) | 4-7 days(winner) | 24-48 hours |
| J.D. Power Customer Satisfaction Score(score out of 1000) | 82/100 | — |
| Number of Local Agents(agents) | 15,000+ | — |
| Mobile App Rating (iOS)(stars) | 4.2 | — |
| Mobile App Rating(stars) | 4.2 stars | — |
| Available Insurance Discounts(number of discount types) | 45+ | — |
| Product Diversity | Comprehensive | — |
| Available Insurance Discounts(count) | 20+ | — |
| Average Claims Processing Time(days) | 5-7 | — |
| Average Claim Processing Time (Mobile)(business days) | 6 days | — |
| Local Agent Availability(states) | All 50 states | — |
| Maximum Telematics Discount Savings(percent) | 30% | — |
| Company Founded(year) | 1928 | — |
| Year Founded | 1922 | — |
| Maximum Bundle Discount(%) | 23% | — |
| Available Discount Programs(count) | 30+ discounts | — |
| Snapshot Usage-Based Discount Range(%) | Not available | — |
| Telematics Program Max Discount(percent savings) | Up to 30% | — |
| Maximum Multi-Policy Bundling Discount(%) | 25%(winner) | 20% |
Show 3 more attributesMaximum Usage-Based Discount(percent) Not offered — Home & Auto Bundle Discount(percent) Up to 25% — Maximum Snapshot Discount(percent) 0% — | ||
| Digital Quote Completion Time(minutes) | 12 minutes | — |
| Online Quote Completion Time(minutes) | 12-15 minutes | — |
| Customer Service Options(availability) | Local agents, phone, online | — |
| J.D. Power Customer Satisfaction (2025)(score (out of 1000)) | 759 | — |
| AM Best Financial Strength Rating(rating) | A+ (Superior) | — |
| AM Best Financial Strength Rating(rating) | A+ (Superior) | — |
| Mobile App Claims Filing Available(yes/no) | Limited (phone required) | — |
| Years in Business(years) | 90+ | — |
| U.S. Auto Insurance Market Share(%) | 9.2% | 17.9%(winner) |
| Auto Insurance Market Share(percent) | 16.5% | — |
| US Auto Insurance Market Share(%) | 17.1% | — |
| Market Share(percent) | 16.8% | — |
| J.D. Power Customer Satisfaction Ranking(position) | 4th place (2024) | 1st place (2024)(winner) |
| Price Transparency Rating | High | — |
| Digital Platform Ease of Use | User-friendly | — |
| Customer Service J.D. Power Score(out of 1000) | 779 | — |
| Mobile App Rating (User Reviews)(stars) | 4.4/5.0 | 4.6/5.0(winner) |
| Mobile App Rating (Google Play)(stars) | 4.3 | — |
| Number of Insurance Agents Nationwide(count) | 18,000+ | 19,000+(winner) |
| Agent Network Availability | 20,000+ exclusive local agents | — |
| Specialized Coverage Options Available(count) | Rideshare, mechanical breakdown, identity theft, umbrella | Standard auto, home, life, umbrella |
| Geographic Coverage(states) | All 50 states | — |
| Product Coverage Types | Auto, Home, Renters, Life | — |
| Average Claims Processing Time (Mobile)(business days) | 2-3 days | 1-2 days(winner) |
| 2025 Net Income(billion USD) | $12.9 billion | — |
| Rate Reductions Announced 2026(customers affected) | 700,000+ (Florida, April 2026) | — |
| Net Income (2025)($ Billion) | State Farm | — |
| Available Discounts(count) | Standard package | — |
| Accident/DUI Rate Premium Increase(percentage) | More competitive | — |
| Service Model(null) | Agent + Digital | — |
| Claims Processing Speed | 3-7 days | — |
| Claims Processing Time (Auto)(days) | 2-4 business days | — |
| Claims Processing Time (Mobile)(business days) | 5-7 days | — |
| Average Premium Rates | Lower | — |
| Add-On Coverage Availability | Standard | — |
| Discount Programs(Relative Offering) | Extensive | — |
| Dividend Payout Status (2026) | Record dividend | — |
| Customer Base(millions) | 18M+ | — |
| Global Customers(millions) | 88 million (US + Canada primarily) | — |
| 2026 Revenue Projection(billion USD) | $20B+ | — |
| Digital Availability | Hybrid | — |
| Customer Dividend/Returns (2026)(billion USD) | $5B dividend | — |
| Number of Local Agents(agents) | ~18,000+ nationwide | — |
| Years in Business(years) | 90+ years (founded 1931) | — |
| Customer Satisfaction Score(Score) | 821 | — |
| Life Insurance Product Variety | Basic term and whole life options | — |
| International Operations(countries) | 3 | — |
| Local Agent Network(agents) | 18,500+ | — |
| NAIC Complaint Ratio(per 1,000 policies) | 0.55 | — |
| Online Quote Time(minutes) | 8-12 | — |
Farmers InsuranceShow 6 more attributes
Show 3 more attributes
Pros & Cons
10 pros·4 cons across both
Farmers Insurance
Pros
- Up to 25% multi-policy bundling discount (industry-leading)
- Specialized coverage options including rideshare protection, mechanical breakdown, and identity theft protection
- 18,000+ independent agents nationwide with flexible local service
- Strong home and umbrella insurance offerings that integrate well with auto policies
- Good rates for drivers with minor violations or non-traditional driving patterns
Cons
- Premium rates average 11.5% higher than State Farm for safe drivers ($1,289 vs $1,156 annually)
- Lower J.D. Power satisfaction score (4th vs 1st place in 2024)
State Farm
Pros
- Lowest average annual premiums for safe drivers at $1,156 (11.5% cheaper than Farmers)
- #1 ranked by J.D. Power for customer satisfaction (2024) and claims experience
- Mobile app rated 4.6/5.0 stars with 24/7 digital claims filing capability
- 17.9% U.S. market share with 19,000+ agents providing consistent service standards
- Excellent brand reputation and financial stability (AA+ rating from S&P)
Cons
- Multi-policy bundling discount capped at 20% (5 points lower than Farmers)
- Limited niche coverage options compared to Farmers (no rideshare or mechanical breakdown add-ons)
Frequently Asked Questions
5 questions
State Farm offers lower average annual premiums at $1,156 for safe drivers, compared to Farmers Insurance at $1,289—approximately 11.5% cheaper. However, rates vary significantly based on individual factors like driving history, location, age, and vehicle type. Use online quote tools from both companies to compare personalized rates for your specific situation.
Resources & Learn More
Curated sources to dive deeper
Wikipedia
- W
Farmers Insurance on Wikipedia (opens in new tab)
Multi-line insurance provider offering auto, home, life, and specialty coverage with emphasis on bundling discounts and flexible underwriting.
- W
State Farm on Wikipedia (opens in new tab)
Largest U.S. auto insurer by market share offering comprehensive auto, home, and life insurance with extensive digital tools and highest customer satisfaction ratings.
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