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Farmers Insurance is a traditional auto insurance carrier that appoints exclusive agents who run their own offices to exclusively sell Farmers products. As one of the longest running insurers in the car insurance industry, Farmers has retained a large market share by offering superior customer service even with its traditional face-to-face selling model.
If you’re shopping around for low-cost auto insurance, your number one mission should be to find a carrier with lots of discounts to offer. Some companies are much more committed than others to offer a long list of car insurance discounts.
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Farmers insurance offers a long menu of discounts that could cut your premiums in half. Here’s your complete guide to Farmers Insurance discounts:
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Farmers Insurance will offer you either a company-specific or a state-specific discount. If a car insurance discount is state-specific, that means that officials with the Department of Insurance will regulate and oversee rate information so that all carriers offer drivers who qualify the savings. Usually, Good Driver, Senior Driver, and other driver-related discounts are required by the state. All other discounts are part of Farmers Insurance program.
The types of discounts that are offered to you will vary from carrier to carrier. Out of all of the leading insurers in the industry, Farmers offers a total of 34 different ways to cut premiums. The largest number of discounts in the industry is 38, so the company isn’t far behind.
Here’s how Farmers stacks up against some of the larger companies in the U.S.:
|Discounts||Allstate||American Family||Farmers||Geico||Liberty Mutual||Nationwide||Progressive||State Farm||Travelers||USAA|
|Discounts Provided #||29||27||34||32||38||35||36||20||28||28|
|Adaptive Cruise Control||x||x||x|
|Daytime Running Lights||x||x||x||x||x||x||x||x||x|
|Electronic Stability Control||x||x||x||x||x||x|
|Forward Collision Warning||x||x||x|
|Lane Departure Warning||x||x||x|
|New Customer/New Plan||x|
|On Time Payments||x||x|
|Seat Belt Use||x|
|Students & Alumni||x||x||x||x|
All 34 discounts offered will fall into one of three different categories: driver discounts, vehicle discounts, and policy discounts. If you look at your premium quote without any discounts versus the amount you’d pay with a dozen of the discounts stacked one on top of the other, you’d be shocked to see how big of a difference they make. Here are the savings to look for by type:
Drivers who have tickets and accidents will have surcharges on their rates as long as they are within the chargeable period. You don’t just pay more because of the surcharge, you also pay more because you’re a higher risk. Fortunately, Farmers offers discounts that aren’t strictly related to driving record. Here are a few to look for:
Every car that you insure has its own vehicle classification code, also known as an ISO code. These codes affect your Bodily Injury, Property Damage, and Physical Damage premiums. It has to do with rating your premiums. You can qualify for vehicle discounts that will keep your premiums down. Here are the vehicle-related discounts offered by Farmers:
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Some discounts don’t fall into the driver or the vehicle category. These are simply classified as policy discounts. They may drive your total premiums down a certain percentage or they may drive just the premiums for a certain portion of the policy down. Here’s a comprehensive list of Farmers’ policy discounts:
When you’re shopping the marketplace for a policy, the only way to make a fully educated decision is to see what more than just a couple carriers will charge you. You might have your mind set on doing business with an A-rated company like Farmers, but that doesn’t mean to keep a narrow mind. You should get at least four or five quotes to find the best deal and to see which discounts you’ll be eligible for.
When you’re soliciting quotes online, the quoting tool will have a bunch of fields with options. As you select the options, the system will highlight which discounts you’ll receive and what your rate for each selected coverage option will be. This is why online quoting are so convenient. If you want to get instant quotes for coverage from Farmers and its competitors, use a comparison tool online and request the information only once.
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