State Farm vs. Travelers: Which Company is the Best Fit for You?

Quick Facts

• Looking at the national averages for car insurance, State Farm offers slightly more affordable prices than Travelers
• State Farm offers less expensive average rates for drivers who have received a ticket within the last few years
• Travelers tends to be a much cheaper option for policyholders who live in the suburbs

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State Farm vs. Travelers: Which Company has the Cheapest Car Insurance?

Are you considering a new insurance policy? With so many ads from all sorts of companies offering substantial discounts, you're probably wondering exactly how much you might be able to save.

You've maybe even narrowed it down to State Farm or Travelers as potential options, but between the two, which carrier has less expensive prices for auto insurance?

Looking at the national average rates for both companies, State Farm is about $9 per month cheaper than Travelers.

However, that doesn't necessarily mean State Farm will be the more affordable option for each driver. Insurance carriers use a variety of complex algorithms to calculate rates, so depending on how good your credit score is or how old you are (among an array of other factors), you could see wildly different premiums from the ones above.

Wanting to know if State Farm or Travelers is really the right carrier for you? Keep on reading to see how average prices can change based on all of the factors we've mentioned above.

State Farm or Travelers: Average Car Insurance Rates by State

State Farm and Travelers compete against each other in 31 states, with Travelers offering less expensive premiums to the average driver in 16 of them. If you live in Alabama, Delaware, Idaho, Maryland, Mississippi, or a few others, Travelers is the more affordable of the two companies when looking at the overall average rates, but State Farm is the cheaper option in most of the others.

But there's more to calculating auto insurance premiums than just where you live. Continue reading to see how other factors will affect your rates.

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Which is the Best Company For Young Drivers?

You might already know that teen drivers generally pay a lot more for car insurance than any group out there on the road. That's usually because young, inexperienced drivers are statistically much more likely to get into an accident that results in an insurance claim, making them much riskier to insure.

That being said, that doesn't mean teen drivers can't still save money on their insurance. For example, 18-year-old drivers pay an average of $0 less a month by choosing State Farm over Travelers.

But both carriers will drop rates by the time you turn 25. Travelers offers the steepest reduction, with 25-year-olds paying less than a third of what 18-year-old drivers are charged. State Farm's average prices reduce nearly 60% during that same period.

Which is the Best Company for Retired Drivers?

Once you approach retirement age, you'll normally enjoy the most affordable auto insurance premiums you can find. You've been on the road for years, and all that experience pays off when it comes to your monthly prices for car insurance.

But who has the best rates for retired drivers between State Farm and Travelers? State Farm gets the edge, with prices for drivers 65 and older $21 cheaper than the national average for Travelers.

Which is the Best Company for Married Drivers?

You may not be aware, but insurance rates tend to be less expensive for married policyholders than they are for single policyholders. This usually boils down to married drivers having more than one car on their policy -- something quite a few auto insurance companies will reward with discounts.

If you're in the market for car insurance, State Farm tends to have the cheapest average premiums regardless of if you're married or single, with prices almost 10% more affordable for married couples and around 4% cheaper for single drivers.

State Farm vs. Travelers: Average Rates by Gender

Because men are more likely to get into collisions and get speeding tickets, they have an increased chance of filing a claim with insurance. Therefore, insurance carriers will tend to offer men more expensive prices.

On average, men see premiums about 7% per month higher with State Farm, while with Travelers, the difference is closer to 6% a month.

Looking at the data for each company specifically, State Farm comes out as the lowest option for both genders. On average, male drivers save about $8 per month and women save around $9 with State Farm compared to the average Travelers policyholder.

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State Farm or Travelers: Compare State Minimum vs. Full Coverage Rates

*State minimum value indicates liability-only policies at each state's minimum bodily injury and property damage (BI/PD) limits

**Full coverage indicates state minimum BI/PD limits with collision and comprehensive coverages added to policy.

It's no secret that auto insurance can be a complicated subject for most people. Everyone needs insurance, but there are so many different limits and coverages that it can be hard to find the right policy.

The two most common policies that many drivers look at fall into two categories -- liability only (which provides property damage and bodily injury coverage for other drivers and their passengers if you cause an accident) and full coverage (which includes comprehensive and collision coverages that protect your own vehicle, alongside what you get with a liability policy).

If you're looking for state minimum limits for liability insurance, State Farm typically offers slightly less expensive rates of $99 compared to Travelers's $108. When it comes to full coverage policies with similar limits, State Farm again has the edge, with policies about $10 a month more affordable than Travelers, on average.

Is State Farm or Travelers Better for Drivers with Spotty Records?

You've probably seen plenty of commercials from car insurance companies offering great prices for good drivers, but that doesn't mean people with less-than-perfect driving records can't save money, too.

At-fault accidents and tickets will most likely raise your premiums, but is State Farm or Travelers cheaper for drivers with less-than-perfect records?

Which Company is Best for Drivers with Speeding Tickets?

State Farm policyholders can expect their rates to go up an average of $21 per month if they get a ticket, while Travelers usually raises prices around $32 a month, on average.

If you have a clean record, Travelers tends to offer the best premiums at about 4% more affordable, while State Farm has the edge for drivers with a speeding ticket.

Which Company is Best for Drivers After an Accident?

After an accident, drivers who have their auto insurance through State Farm can expect to see around an $29 -- or about 18% -- increase in their car insurance rates. Drivers who use Travelers for their insurance will see a monthly bill around $45 (or 26%) more expensive after reporting a collision to their car insurance carrier.

Overall, drivers who use State Farm end up with the cheaper prices after an accident, with monthly premiums averaging $163 compared to Travelers's $173.

Which Company is Best for Drivers with a DUI?

If you get a DUI charge on your record, it's probably going to cost you more than a simple ticket or even an accident. On average, Travelers will climb your prices about 38% after a DUI, while State Farm's average rates rise by over 25%.

If you have a DUI on your record and are looking for more affordable premiums, State Farm tends to be the much less expensive option with average rates of $179 a month compared to $205 from Travelers.

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How does Credit Score Impact State Farm and Travelers Rates?

Did you know that many auto insurance carriers take your credit score into account when calculating prices? This isn't always the case (for example, Massachusetts and California are two states that ban the practice entirely), but it does affect lots of drivers out there.

Insurance companies argue that those with poor credit scores are less likely to pay their bills on time each month, which increases the risk involved on their end, while the opposite is true for those with good credit.

So, which company offers the most affordable rates for policyholders with poor, average, or good credit?

Which Company is Best for Drivers with Good Credit?

If you have a solid credit score, you'll usually find a better deal with State Farm. Drivers with "excellent" credit can save just under 35% compared to Travelers, and those with "good" scores can also expect to see savings -- around $37 or 26% cheaper every month.

Which Company is Best for Drivers with Bad Credit?

If you have bad credit, it can be somewhat of a toss-up as far as which company offers you the best premiums. Drivers with "fair" credit pay about $25 less with State Farm than Travelers, but those whose credit is considered "poor" have it flipped -- saving around $69 per month with Travelers.

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Is State Farm or Travelers Better for Drivers who Work from Home or Have Short Commutes?

Did you know that the amount of time you spend in your car have a large impact on how much auto insurance carriers will charge for coverage? Typically, those who drive fewer miles will end up with more affordable prices since there's less of a chance of getting into a collision and causing an insurance claim.

For both drivers who put 6,000 miles on their vehicles each year, as well as those who average twice that figure, State Farm offers cheaper premiums than Travelers. Travelers's average prices for drivers with 6,000 annual miles come in just under $15 more expensive than State Farm. Those who drive 12,000 miles yearly can expect to pay $5 more with Travelers over State Farm.

State Farm vs. Travelers: Compare Rates for Urban, Suburban, and Rural Drivers

Where you live can play a pretty big role in how much you pay for insurance. Generally, if you live in an urban area with more cars on the road, you'll pay a little more for car insurance, while the opposite is true for people in rural areas.

Looking at these companies side-by-side, State Farm tends to offer the cheapest option for drivers in rural and urban areas, while Travelers wins in suburban areas.

In urban areas, State Farm's average prices are about $185 a month compared to Travelers's $204. Drivers in suburban ZIP codes pay around $160 with Travelers compared to State Farm's $161 monthly. Those in rural areas can expect to pay about $127 per month with State Farm and $136 with Travelers.

State Farm vs. Travelers Discounts

Regardless of why you might be in the market for a new insurance policy, you're always going to want to save as much money as possible, and the best way to do that is by utilizing as many car insurance discounts as you can.

But with what seems like a million different discounts out there, it can be challenging to find all the ones you can take advantage of or to nail down the company that has the most discounts for your unique driver profile.

In the section below, we've compared all of the different discounts offered by State Farm and Travelers so that you can see which one offers the most discounts and see which ones you might be able to take advantage of.

Overall, Travelers comes out ahead with 25 discounts to State Farm's 23.

Both carriers offer several of the same discounts -- like anti-theft discounts, distant student discounts, discounts for getting driver training, and discounts for being a good student -- but Travelers also offers advance quote discounts, alternative fuel discounts, continuous insurance discounts, and more that State Farm does not.

On the flip side, State Farm has a couple unique discounts of its own -- annual mileage discounts, drive safe & save discounts, farm discounts, and more.

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Final Thoughts: Is State Farm or Travelers Best for You?

So, we've broken down the average rates for many of the variables auto insurance companies look at, and we've shown you all the discounts each carrier offers. But, at the end of the day, is State Farm or Travelers the right company for you and your specific driver profile?

State Farm might be best for you if....

• You have received a ticket within the last few years.
• You live in a rural neighborhood.
• You and your spouse are buying insurance together.

Travelers might be best for you if...

• You have a clean driving record, free of collisions, tickets, or DUIs.
• You're looking for discounts -- Travelers has the most.
• Your home is located in the suburbs.

We hope this guide has ben a valuable resource as you compare State Farm and Travelers. We also hope we've given you the information you need to make the best decision about your auto insurance.

But, at the end of the day, there's only one way to know for sure that you're getting the best possible deal on car insurance -- comparing quotes from a handful of carriers, not just State Farm and Travelers. Luckily, sites like Compare.com make it easy for you to do just that. Just enter your ZIP code below and get multiple free quotes from some of the best auto insurance companies in your area, all in just a few minutes.

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State Farm vs. Travelers FAQs

Is State Farm or Travelers cheaper?

Looking just at the national average premiums, State Farm is the less expensive of the two carriers, offering average rates of $158 per month compared to $167 for Travelers. Even so, State Farm won't necessarily be the lowest company for everyone, since there are multiple different factors that come into play when it comes to your car insurance cost.

Who is better, State Farm or Travelers?

Sadly, the real answer is "it depends.". No single carrier is necessarily "better" for everyone -- it all depends on the makeup of your unique insurance profile. For example, State Farm offers cheaper prices for policyholders with an at-fault accident on their record, while Travelers is more affordable for drivers who have less-than-stellar credit scores.

Why do State Farm and Travelers offer me different rates?

Auto insurance companies take a look at several different variables when determining the premiums they charge drivers. Things like gender, where you call home, age, your driving record, and sometimes even things like your credit score can all be taken into consideration. Both State Farm and Travelers calculate rates using different factors, so each one will most likely offer different premiums. The only real way to see which company is the cheapest for you is by comparing personalized quotes from lots of different carriers.

How do I know if State Farm or Travelers is right for me?

The only way to find the insurance carrier that's right for you is by getting quotes from multiple companies and finding the one best suited for your individual budget. Luckily, sites like Compare.com do all the hard work for you. Just enter your area information and you'll get free quotes from dozens of the best car insurance carriers in your area. That way, you can guarantee you're getting the best rate. And who knows, the best company for you might not be State Farm or Travelers at all!

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Methodology

All of the data referenced in this article has been gathered in collaboration with Quadrant Information Services. We analyzed more than 2.5 million rows of carrier-reported data to calculate the average rates referenced above. All rates are based on an insurance profile of a single-vehicle policy for a driver that owns a 2016 Honda Accord. For more information on how we calculate rates, please reference our data methodology.