Farmers vs. Travelers Insurance

Which insurance company is right for you? Compare products, savings, and quotes from Farmers and Travelers.

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Farmers vs. Travelers: What You Need to Know

Farmers Insurance began selling insurance a year before the Great Depression and survived to become a household name. Founders John C. Tyler and Thomas E. Leavey started off by going farm to farm to gain their first policies. They specifically lowered rates for farmers and ranchers because they understood that these occupations posed fewer risks with their vehicles. By 1928, they were able to open an office in downtown Los Angeles. During the Great Depression, Farmers was one of the few companies that were able to pay claims. When a devastating earthquake hit Los Angeles, Farmers paid out claims for damaged cars and became the first insurance company to offer comprehensive insurance.

For more than 160 years Travelers Insurance has been protecting homes, cars, valuables, and businesses. Today they have the reputation of being one of the best property and casualty companies in the industry and are the only one in the Dow Jones Industrial Average. The company has 30,000employees and 13,500 independent agents and brokers in the United States, Canada, the United Kingdom, Ireland, and Brazil. In 1864, a stonecutter, James G. Batterson, and several other townsman in Hartford Connecticutbegan organizing a company to introduce accident insurance to the U.S.James E. Bolter, a local banker, asked Batterson how much he’d charge to insure his four-block home. Batterson said it would cost “two cents.”Today, the two-cent “premium” is Traveler’s treasured souvenir. The following year, Travelers began selling life insurance and in 1897 they issued their first automobile insurance policy. In 1889, they offered liability insurance to employers (workers compensation). By 1901 TravelersInsurance offered health and liability insurance. In 1903, they opened an insurance school and the following year organized a corps of safety engineers. In 1919, Travelers offered aircraft liability insurance with a full aviation program. During World War II, Travelers underwrote the Manhattan Project, the building of the first atomic bomb. In 1956, they established a weather research center and two years later offered life insurance to women at lower rates than men.

Below is a list of average rates, rankings, products, and discounts for the two companies. For full company overviews, you can visit Farmers Overview and Travelers Overview.

Farmers vs. Travelers: How much are the Average Rates?

Below is a list of the average rates that drivers typically pay with Farmers and Travelers. On average, Farmers charges approximately $287.68 per month while Travelers comes in at around $180.20 per month. For Farmers, the cheapest state average is North Dakota at $119.80 per month and the most expensive is Michigan at $791.52 per month. For Travelers, the cheapest state average is Maine at $87.67 per month and the most expensive is Michigan at $268.53 per month.

Farmers

Average Rate

$287.68
Travelers

Average Rate

$180.20
National

Average Rate

$119.16
State Farmers Travelers
Alabama $201.23 $115.41
Arizona $265.83 $144.71
Arkansas $190.00 -
California $259.01 -
Colorado $304.62 -
Connecticut- $183.96
Delaware- $162.34
Idaho $123.44 $175.53
Illinois $209.20 $115.69
Indiana $135.50 $155.25
Iowa $143.95 $140.84
Kansas $186.15 $158.39
Kentucky- $186.30
Maine- $87.67
Michigan $791.52 $268.53
Minnesota $172.10 -
Mississippi- $195.95
Missouri $212.55 -
Montana $201.16 -
Nebraska $191.65 -
Nevada $306.01 $206.45
New Mexico $202.44 -
New York- $235.88
North Carolina- $100.32
North Dakota $119.80 -
Ohio $152.11 -
Oklahoma $171.70 -
Oregon $174.94 $132.43
Pennsylvania- $207.28
Rhode Island- $218.79
South Carolina- $118.58
South Dakota $124.86 -
Tennessee $164.93 $132.74
Utah $215.10 -
Washington $155.85 $146.22
Wisconsin $171.67 -
Wyoming $200.59 -

Farmers vs. Travelers: Rates by Number of Vehicle

Home

Drivers will typically get a discount if they insure multiple vehicles. Here is a list of average rates that Farmers and Travelers typically charge for drivers who have more than 1 vehicle.

Number of Vehicles Farmers Travelers
1 Vehicle $267.73 $171.44
2 Vehicles $346.87 $210.28
3 Vehicles $650.04 $309.29
4 Vehicles $807.21 $

Farmers vs. Travelers: Rates by Homeownership

Home

Drivers who own their home rather than rent can sometimes get a small discount. We found that on average Farmers charges $286.65 per month and Travelers charges $161.50 per month for customers who own their home.

Own/Rent Farmers Travelers
Own $286.65 $161.50
Rent $288.22 $189.55

What is Farmers and Travelers Insurance Rating?

Which car insurance company is better? We've made it easy to compare companies side by side. See how Farmers and Travelers ranked among the industry ratings.

ComparisonFarmersTravelers
Year Founded19281864
Market Share3%1.8%
A.M. Best RatingA-
BBB RatingA+A+
Financial StrengthExcellentExcellent
JD Power RankingAbout AverageAbout Average
Moody’s RatingA2Aa2
NAIC Complaint Index0.80
S&P RatingAAA

Farmers or Travelers: Insurance Products Offered

What coverage is available through Farmers and Travelers? Both insurance companies offer Auto, Commercial, Home, RV, and Umbrella insurance. Additional products from Travelers insurance also include Condo, Health, and Renters insurance. Considering these two top insurance providers? Check out the list below. To view a full list of products that are available, visit Farmers and Travelers Insurance page.

InsuranceFarmersTravelers
Auto Insurance
Commercial Insurance
Condo Insurance
Health Insurance
Home Insurance
Life Insurance
Motorcycle Insurance
Renters Insurance
RV Insurance
Umbrella Insurance

Farmers or Travelers: Ways To Save

Farmers offers a wide range of discounts to its policyholders, including Distant Student, Electronic Funds Transfer (EFT), and Good Student discounts. Whereas, Travelers also offers a few discounts that Farmers doesn’t, including Student Away at School, Safe Driver, and New Car discounts. Start taking advantage of discounts offered by insurance providers like Travelers and Farmers insurance and save yourself some money. You can review the full list of discounts that these two companies offer below.

FarmersTravelers
Alternative Fuel DiscountAffinity Program Discounts
Distant StudentContinuous Insurance Discount
Electronic Funds Transfer (EFT) DiscountDriver Training Discount
Good StudentEarly Quote Discount
Homeowner DiscountEFT, Paid in Full and Good Payer Discount
Multi-Car DiscountGood Student Discount
Multi-policy DiscountHome Ownership Discount
Occupational DiscountHybrid/Electric Vehicle Discount
Pay-in-Full DiscountIntelliDrive Program Safe Driving Discount
Teen Driver DiscountMulti-policy Discount
Transfer DiscountMultiCar Discount
New Car Discount
Safe Driver Discount
Student Away at School Discount

Pros & Cons of Farmers & Travelers

Pros

Farmers
  • Financial strength
  • Great employee education and customer service.
Travelers
  • Unlike other carriers who only offer it for the first two or three years, Travelers’ new car replacement covers the first five years.
  • Travelers offer accident forgiveness.
  • Offers ridesharing insurance.
  • Discounts on hybrids and electric vehicles.

Cons

Farmers
  • Steep early-cancellation fees.
Travelers
  • Prices tend to be high.

Farmers or Travelers Mobile Apps Options

The Farmers app is available for iOS and Android. The Farmers Mobile App allows you access to self-service features.

The Travelers Mobile app is available for iOS and Android. This award-winning mobile app can help manage insurance and banking accounts, request roadside service, file and track claims and pay bills.

Farmers Mobile App
iOS     4.83K user reviews
Android     43K user reviews
Travelers Mobile App
iOS     2.715K user reviews
Android     3.316K user reviews

Farmers & Travelers Contact Info

Farmers Contact Info
Address6301 Owensmouth Avenue, Woodland Hills, CA 91367
Phone1 (800) 974-6755
Websitehttps://www.Farmers.com
Facebookhttps://www.facebook.com/FarmersInsurance/
Twitterhttps://twitter.com/WeAreFarmers
Youtubehttps://www.youtube.com/farmersinsurance
Linkedinhttps://www.linkedin.com/company/farmers-insurance/
Travelers Contact Info
Address485 Lexington Ave New York, NY 10017
Phone1-800-328-2189
Websitehttps://www.travelers.com
Facebookhttps://www.facebook.com/travelers
Twitterhttps://twitter.com/travelersinsurance
Youtubehttps://www.youtube.com/user/travelersinsurance
Linkedinhttps://www.linkedin.com/company/travelers

Methodology
The statistics listed on this page are from our own in house reporting. We track and record quotes that carriers have provided based on various criteria. The rates and averages shown on this page should only be used as an estimate.

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