Farmers auto insurance rates go up an average of over $1,500 for drivers who have caused an accident with an injury. Our analysis shows Farmers’ rates to be high in this category, with better deals likely available from State Farm car insurance and Geico.
When compared to national average rates as determined by our study, Farmers comes in eighth out of nine, making them one of the most expensive insurance providers in our rankings. Their rates are about 27% higher than the national average and 49% to 87% more expensive than the cheapest rates in our study.
On average, car insurance premiums increased by 2% between 2018 and 2019 — the most recent year for which data was available. Let’s review the reasons behind car insurance rate increases.
The Allstate Corp. and Farmers Insurance Group of Cos. obtained the greatest number of rate increase approvals for homeowners insurance during the first half of 2021 as the industry sought to get ahead of losses from recent catastrophes and rising prices for home repair materials.