Compare Farmers vs. Foremost Signature: Quotes, Discounts (2023)

Farmers vs. Foremost Signature: A Summary

Farmers and Foremost both belong to the Farmers Insurance Group of Companies. Farmers is the national brand with household name recognition. Foremost is a specialty insurance provider that Farmers bought in 2000 to expand its insurance product collection. In order to find out which one is right for you, read this article to compare car insurance providers.

ICS Score Explanation:

The Insurify Composite Score (ICS) is a proprietary rating calculated by a team of data scientists at Insurify, weighing multiple factors that reflect the quality, reliability, and health of an insurance company.

Inputs to the score include financial strength ratings from A.M. Best, Standard & Poor’s, Moody’s, and Fitch; J.D. Power ratings; Consumer Reports customer satisfaction surveys and customer complaints; mobile app reviews; and user-generated company reviews.

Farmers

Farmers is among the top 10 largest car insurance companies in the nation. Customers enjoy its many insurance policy discounts, like the one they receive for bundling home insurance. Also, the company’s collection of car insurance products features a mobile app, declining deductibles, rental reimbursement, and roadside assistance with towing.

Foremost Signature

Foremost Insurance Group works with high-risk drivers and those with imperfect driving histories. And the insurer provides prospective policyholders with a variety of coverage options. Also, AARP partners with the company because of its unique offerings for mobile home, recreational vehicle, and motorcycle insurance.

The Best Car Insurance Companies in 2022

Farmers lands one notch above Foremost and takes the number five spot for its leading rideshare coverage. And Foremost auto insurance is a favorite choice for its hassle-free claims experience. In addition, both Farmers and Foremost offer ways to customize your coverage options so you can tailor your level of protection to your needs.

Compare Farmers vs. Foremost Signature: Which Is Cheaper?

Farmers is the clear winner for the cheapest rates in every category the data tracked. Farmers’ average monthly car insurance rate is $107, $21 less than Foremost’s monthly cost. Both businesses are more costly than the $69 national average. However, they might still be the best option for drivers with specific coverage requirements.

The Cheapest Car Insurance Companies in 2022

Farmers and Foremost miss the list of the cheapest insurance providers. Still, both insurers would claim that they cater to a particular segment of the larger market. Specifically, Farmers’ telematics program gives customers the chance to save big. On the other hand, Foremost targets high-risk drivers who appreciate flexible insurance options.

Compare Farmers vs. Foremost Signature Car Insurance by Age

Your age affects the price you see on your car insurance quote. Typically, older drivers bring more experience, better credit, and possible homeownership to the table. All three factors contribute to experienced motorists paying much less than their younger counterparts, particularly those under 25.

Farmers’ and Foremost’s rates show a similar pattern. Teens pay the steepest insurance rates, and then costs fall as drivers tack on years of experience. When they retire, the rates begin to climb again as old age affects driving ability. People in their 50s get the best deals at both companies. Farmers’ lowest premium is $82 per month, while Foremost’s is $109.

Compare Farmers vs. Foremost Signature Car Insurance by Gender

Gender is another factor to consider when purchasing insurance. Generally, the price gap is minimal, although it might be significant at specific insurance companies. Because young men drive more aggressively than young women, the pricing aims to make up for the level of added risk.

Women spend $2 less per month than men at Farmers and at Foremost, a two percent pricing difference in both cases. Both insurance companies’ rates are much higher than the national average for both genders. Although the change is the same in dollars and percentage, Farmers has the lower rates.

Which is cheapest for men?

Farmers is a good option for men who know how to balance a budget. Men can save $21 every month, compared to Foremost’s $129 monthly fee. Both companies surpass the national average.

Which is cheapest for women?

Farmers is the most cost-effective option. Picking Farmers saves women $21 per month, or $252 per year. However, both insurance providers are significantly pricier than the national average of $78.

Compare Farmers vs. Foremost Signature Car Insurance by Mileage

At most insurance companies, a higher annual mileage will often amount to a higher monthly premium. However, the price difference for different mileage levels can vary from company to company.

At Farmers, how much you drive matters quite a bit, but the same is not true at Foremost. Farmers has a $10 difference between rates for those who drive the most and the least, amounting to a 10 percent price jump. In contrast, Foremost has a 2 percent price difference of $2. Even though Farmers has the greater increase, its prices are lower overall.

Which is cheapest for drivers with high mileage?

Drivers with long commutes or a love affair with the weekend road trip may want to navigate to Farmers and its $106 monthly fee. Farmers can save you $21 a month, or $252 per year, compared to Foremost. However, both insurers came in much higher than the $78 per month national average.

Which is cheapest for drivers with low mileage?

Infrequent drivers and telecommuters should probably choose Farmers over Foremost. Farmers’ pricing grants savings of $21 per month, or $252 per year, against Foremost. Regardless of your yearly mileage, both insurers charge much more than the national average.

Compare Farmers vs. Foremost Signature Car Insurance by Credit Score

Your credit will play into how much you pay for car insurance unless you live in California, Hawaii, or Massachusetts. Those three states outlaw the practice, but insurance companies use your score everywhere else.

As you might have guessed, the data reveals that people with the best score pay the lowest rates, and prices rise as you go down the credit tiers. This trend is the same for Farmers, Foremost, and the national average. However, both insurance providers surpass the national average prices, regardless of your credit score.

Which is cheapest for good credit?

Farmers is a better option than Foremost if your credit is outstanding. Farmers’ $68 monthly fee saves policyholders $35, adding up to $420 a year versus Foremost. However, when comparing both companies to the respective national averages of $60 and $71, you may wish to seek quotes from their competitors before opting for either one.

Which is cheapest for bad credit?

Folks in credit repair mode or still in the building phase would do best at Farmers. Drivers with average credit at Farmers save $34 per month, or $408 annually, compared to Foremost. And folks with poor credit at Farmers put $27 per month back in their wallets, amounting to $324 per year to pay down debt. Both companies’ rates are more than the national average.

Compare Farmers vs. Foremost Signature Car Insurance by Driving Record

Your premiums are determined by your driving history during the past three or five years. Although it may seem obvious, a clean driving record is the best way to larger insurance discounts, like the safe driver discount. Conversely, if your driving record is peppered with mishaps, securing a cheap insurance policy may become harder.

Drivers with a speeding ticket, at-fault accident, or even a DUI on their records must pay far more than they would with a clean record.

Which is cheapest for good drivers?

Safe drivers put $34 per month, or $408 per year, back in their bank accounts when they pick Farmers over Foremost. In particular, Foremost’s $125 per month nearly twice as much as the national average. But Farmers is not much better, costing $13 more per month than the national average. So drivers with clean records should shop around for the best rate.

Which is cheapest after a speeding ticket?

With a speeding infraction on your record, Farmers is the superior pick by $28 per month, representing an 18 percent pricing reduction versus Foremost. Both insurance companies fly past the national average of $104 per month by a significant margin.

Which is cheapest after an accident?

An at-fault accident could easily cause your auto insurance rates to increase at renewal. That’s why Farmers is the prudent pick. At $127 a month, you save $103 every month compared to Foremost, for a total savings of $1,236. Remarkably, even with Foremost targeting the high-risk market, Farmers emerges as the preferred insurance provider after a crash.

Which is cheapest after a DUI?

After a DUI, you probably have to pay fines to the state, so every dollar becomes even more critical. With that in mind, Farmers is the right company to lean on, but Foremost isn’t too far behind. The gap between them is just $10 per month.

Farmers vs. Foremost Signature Car Insurance: What discounts does each offer?

Farmers Discounts

• Affinity

• Alternative fuel

• Anti-theft device

• Antilock brakes

• ePolicy

• Daytime running lights

• Distant student

• Good payer

• Good student

• Homeowner

• Homing device

• Multiline (bundling your car insurance coverage with homeowners insurance, renters insurance, mobile home insurance, life insurance, or small business insurance)

• Multicar

• On your own

• Passive restraint

• Pay in full

• Safe driver

• Senior driver

• Shared family car

• VIN etching

• Youthful driver

Foremost Signature Discounts

• Electronic payment

• Go paperless

• Homeowner

• Multi-policy

• Multi-vehicle

• Pay in full

• Preferred driver

• Safe driver

Our Methodology and How We Compared Farmers and Foremost

The car insurance quotes provided in Insurify’s insurance company comparison guides are based on the analysis of over 50 thousand insurance quotes from 500 ZIP codes nationwide. Insurify’s data science team performs a comprehensive analysis of factors car insurance providers weigh to calculate rates, including driver demographics, driving record, credit score, desired coverage level, and more to give representative samples.

Insurify’s analysis also incorporates the Insurify Composite Score (ICS) assigned to each insurance provider. The ICS is a proprietary rating calculated by weighing multiple factors that reflect the quality, reliability, and health of an insurance company.

Ratings used to calculate the ICS include Financial Strength Ratings from A.M. Best, Standard & Poor’s, Moody’s, and Fitch; J.D. Power ratings; Consumer Reports customer satisfaction surveys and customer complaints; mobile app reviews; and user-generated company reviews.

With the above insights and ranking methods, Insurify is able to offer car insurance shoppers a window into how insurance providers compare to one another in terms of both cost and quality.

Frequently Asked Questions