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Farmers and Travelers are two closely ranked insurance providers, making it difficult to choose which has the best company for an auto and home bundle. Here, we’ll compare the companies head-to-head on rates and ratings to help you pick the best insurer for your auto and home insurance needs.
While Travelers offers the cheapest auto insurance rates, Farmers provides the lowest rates for a combined auto and home insurance policy. It’s also important to compare these two companies on customer satisfaction.
Keep reading to learn more about Farmers and Travelers auto and home insurance.
Key Takeaways
- Farmers has cheaper average bundled home and auto rates compared to Travelers
- Travelers insurance is offered in more states than Farmers
- Travelers earns higher financial and customer satisfaction ratings than Farmers
Insure.com compares Farmers vs. Travelers for auto and home bundling
Farmers offers the best multi-policy discount for bundling auto and home insurance and the lowest rates for combined coverage. However, Travelers provides the cheapest auto insurance without additional coverage.
In addition, you can get Travelers insurance in all 50 states, plus D.C. Farmers coverage is only available in 45 states.
Both Farmers and Travelers have similar customer satisfaction and claims satisfaction ratings, but Travelers has a higher financial strength rating.
Insure.com rating comparison for Farmers vs. Travelers
The following table compares Farmers’ and Travelers’ ratings in various categories. While the competitors score similarly in customer satisfaction, complaints and Insure.com’s overall rating, Travelers earned a superior AM Best financial rating, and Farmers earned an excellent rating.
| Comparison metrics | Farmers | Travelers |
|---|---|---|
| Insure.com overall rating | 3.77 | 3.73 |
| Best for | Lower average premiums for auto and home insurance bundles | Lower average auto insurance rates |
| Customer satisfaction rating | 3.92 | 3.96 |
| NAIC rating | 0.54 | 0.54 |
| AM Best rating | A | A++ |
| State availability* | 45 | All |
*Indicates the number of states where both auto and home insurance are available.
Farmers vs. Travelers: Pros and cons
The table below breaks down the pros and cons for Farmers and Travelers. For example, Farmers offers cheaper average auto and home insurance bundles, but Travelers provides coverage in every state and D.C.
| Farmers | Travelers |
|---|---|
| Pros: | Pros: |
| Numerous insurance discounts | Both auto and home are offered in all 50 states |
| Cheaper bundled auto and home insurance | Superior financial rating |
| Cons: | Cons: |
| Auto and home are not available in every state | Higher rates for auto and home insurance bundles |
| Higher average auto insurance rates | Fewer coverages offered |
Farmers vs. Travelers: Which has the most affordable rates?
Farmers comes out on top regarding average annual premiums for home and bundled insurance. After the multi-policy discount, customers can save an average of $1,111. Travelers offers cheaper auto insurance, but its home insurance is significantly higher. Also, Travelers’ auto and home insurance bundle savings is much less.
“When comparing insurance rates, it is most important to understand what isn’t covered, what categories have limitations, and if certain types of claims have a separate deductible,” says Zack Pope of David Pope Insurance.
| Company | Avg annual auto premium | Avg annual home premium | Total without bundle | Total with bundle | % discount | $ savings |
|---|---|---|---|---|---|---|
| Farmers | $2,440 | $3,364 | $5,804 | $4,693 | 18% | $1,111 |
| Travelers | $1,823 | $5,161 | $6,984 | $6,210 | 11% | $774 |
Farmers vs. Travelers: Auto and home bundle rates by state
While Travelers provides auto and home insurance coverage in all 50 states and D.C., Farmers only offers both auto and home coverage in 45 states. In states where both Farmers and Travelers offer coverage, Farmers typically has larger bundling discounts.
| State | Farmers -Auto & home before discount | Farmers -Auto & home after discount | Farmers -%Saving | Travelers -Auto & home before discount | Travelers -Auto & home after discount | Travelers – %Saving |
|---|---|---|---|---|---|---|
| Alaska | – | – | – | – | – | – |
| Alabama | $4,668 | $3,853 | 17% | – | – | – |
| Arkansas | $6,988 | $5,551 | 21% | $10,222 | $9,128 | 11% |
| Arizona | $5,332 | $4,180 | 22% | $6,774 | $6,114 | 10% |
| California | $5,103 | $4,216 | 17% | $3,486 | $2,866 | 18% |
| Colorado | $8,970 | $6,962 | 22% | – | – | – |
| Connecticut | – | – | – | $7,380 | $6,711 | 9% |
| Washington, D.C. | – | – | – | – | – | – |
| Delaware | – | – | – | $3,266 | $2,985 | 9% |
| Florida | – | – | – | $3,828 | $3,408 | 11% |
| Georgia | – | – | – | – | – | – |
| Hawaii | – | – | – | – | – | – |
| Iowa | $4,260 | $3,522 | 17% | – | – | – |
| Idaho | $3,265 | $2,625 | 20% | – | – | – |
| Illinois | $5,453 | $4,375 | 20% | $8,551 | $7,700 | 10% |
| Indiana | $5,155 | $4,257 | 17% | $8,969 | $8,084 | 10% |
| Kansas | $9,136 | $6,822 | 25% | – | – | – |
| Kentucky | – | – | – | – | – | – |
| Louisiana | – | – | – | – | – | – |
| Massachusetts | – | – | – | $7,688 | $6,721 | 13% |
| Maryland | – | – | – | $7,277 | $6,121 | 16% |
| Maine | – | – | – | – | – | – |
| Michigan | $12,867 | $10,235 | 20% | – | – | – |
| Minnesota | $4,821 | $4,042 | 16% | – | – | – |
| Missouri | – | – | – | – | – | – |
| Mississippi | – | – | – | $10,588 | $9,394 | 11% |
| Montana | $6,314 | $5,045 | 20% | – | – | – |
| North Carolina | – | – | – | – | – | – |
| North Dakota | $6,081 | $5,107 | 16% | – | – | – |
| Nebraska | $10,217 | $7,629 | 25% | – | – | – |
| New Hampshire | – | – | – | – | – | – |
| New Jersey | – | – | – | – | – | – |
| New Mexico | $4,623 | $3,716 | 20% | – | – | – |
| Nevada | $4,608 | $3,655 | 21% | – | – | – |
| New York | – | – | – | $6,102 | $5,387 | 12% |
| Ohio | $3,708 | $3,106 | 16% | $6,782 | $6,069 | 11% |
| Oklahoma | $9,430 | $7,800 | 17% | – | – | – |
| Oregon | $3,622 | $2,909 | 20% | – | – | – |
| Pennsylvania | – | – | – | $7,109 | $6,331 | 11% |
| Rhode Island | – | – | – | – | – | – |
| South Carolina | – | – | – | $6,258 | $5,581 | 11% |
| South Dakota | $6,257 | $5,097 | 19% | – | – | – |
| Tennessee | $5,014 | $4,271 | 15% | $8,150 | $7,355 | 10% |
| Texas | – | – | – | – | – | – |
| Utah | $3,579 | $2,871 | 20% | – | – | – |
| Virginia | – | – | – | $6,299 | $5,619 | 11% |
| Vermont | – | – | – | – | – | – |
| Washington | $3,929 | $3,588 | 9% | – | – | – |
| Wisconsin | $3,422 | $2,763 | 19% | – | – | – |
| West Virginia | – | – | – | – | – | – |
| Wyoming | $4,079 | $3,819 | 6% | – | – | – |
*Rate data is not available for both home and auto in all states; however, where rates for either policy are available they have been included for informational purposes.
Farmers vs. Travelers: Customer satisfaction
According to Insure.com’s 2024 Best Insurance Companies survey, more customers are satisfied with Farmers insurance than with Travelers. The survey found that 72% of Travelers’ customers were satisfied with their insurance, versus 77% of Farmers’ customers.
| Company | Percentage of customers who are satisfied |
|---|---|
| Farmers | 77% |
| Travelers | 72% |
Farmers vs. Travelers: Claims handling
Claims handling is another category in which Farmers and Travelers score closely. Seventy-three percent of Farmers’ customers are satisfied with how their claims were handled, compared to 72% of Travelers’ customers
| Company | Percentage of customers who are satisfied |
|---|---|
| Farmers | 73% |
| Travelers | 72% |
Farmers vs. Travelers for auto and home bundling: The bottom line
Since Farmers and Travelers are among the top insurers, you can depend on either company for the auto and home coverage you need.
Farmers may be a better option if you’re looking for cheap auto and home insurance. Additionally, Farmers may provide better overall customer satisfaction. However, Farmers isn’t offered in every state, so you may not be eligible for coverage.
On the other hand, Travelers offers cheaper auto insurance coverage, and coverage is more readily available. Travelers also has a higher financial stability rating, meaning it has the ability to meet all financial obligations.
Related Articles
- Insure.com compares Farmers vs. Travelers for auto and home bundling
- Insure.com rating comparison for Farmers vs. Travelers
- Farmers vs. Travelers: Pros and cons
- Farmers vs. Travelers: Which has the most affordable rates?
- Farmers vs. Travelers: Customer satisfaction
- Farmers vs. Travelers: Claims handling
- Farmers vs. Travelers for auto and home bundling: The bottom line