What’s Better for Auto Insurance – Esurance or Farmers?
Consumers have so many different choices when it comes to auto insurance, from small regional providers to large national ones. With so many options, it can be very difficult to determine which insurance provider is right for you. Two prominent insurers you may be considering are Esurance and Farmers. Both of these auto insurance providers have plenty of options for coverage types, but each has its own unique advantages and disadvantages. Here’s what you need to know about these insurers before you sign up.
Esurance is a relatively new insurance company, founded in 1999. Over the past 20 years, they quickly rose to prominence by offering online car insurance tools. They were one of the first companies to do so and continue to offer online and mobile policy management features. Esurance is based in San Francisco. They were purchased by Allstate in 2011 and are now an Allstate subsidiary. In addition to car insurance, they sell home, renters, and motorcycle insurance. They currently provide coverage in 43 states.
|Company Address||650 Davis St
San Francisco, CA 94111
Farmers is one of the oldest car insurance providers in America. They were founded in 1928 in Los Angeles, California, and are currently headquartered in nearby Woodland Hills. They initially focused on providing car insurance to rural drivers, but eventually expanded to offer insurance to everyone. They sell their policies through both independent and exclusive agents and have thousands of offices throughout the United States. In addition to car insurance, they also provide home and business insurance.
|Company Address||4680 Wilshire Blvd
Los Angeles, CA 90010
What Types of Coverage Does Esurance Provide?
Esurance offers all standard car insurance coverage types. This includes required liability coverage for bodily injury and property damage, as well as optional uninsured motorist liability coverage. Liability coverage pays for the damage you cause if you are found at fault in an accident and is required by law. Uninsured motorist coverage will cover damages if you are hit by a driver that doesn’t carry car insurance or doesn’t carry enough car insurance to pay for the full extent of the damage.
Esurance also offers a number of optional coverage types, including comprehensive and collision coverage. Comprehensive coverage pays for damage to your car as a result of vandalism, natural disasters, and other unexpected events. Collision coverage pays for any collision damage, regardless of collision type. They also offer medical payments and personal injury protection coverage, which can pay for your medical care after an accident. They offer gap coverage, which pays for the remainder of your loan if your car is totaled. Esurance also has a roadside assistance program, and they offer rental car reimbursement coverage as well.
What Types of Coverage Does Farmers Provide?
Like Esurance, Farmers offers a broad range of coverage types. They offer liability, comprehensive, collision, uninsured motorist, medical payments/personal injury protection, roadside assistance, and rental car reimbursement. However, they have some additional coverage types that Esurance does not offer. The most notable of these is rideshare coverage, which provides extra liability protection for Uber and Lyft drivers.
Some other coverage types that Farmers offers are loss of use coverage, guaranteed value coverage, windshield and glass coverage, custom equipment coverage, and OEM equipment coverage. Loss of use coverage reimburses you for a rental car, cab fare, or public transit for any period where you are not able to use your car. Guaranteed value coverage allows you to negotiate a value for your car at the start of the policy. This is the amount you’ll receive if your car is totaled. This coverage type is a good option for those with classic or high-value cars. Glass coverage will replace your windshield or windows with no deductible if they are damaged. OEM coverage pays for original market parts, while custom equipment covers any new parts you have added to your car.
Esurance vs. Farmers – Discounts
Esurance and Farmers offer a very similar range of discounts. Some of the discounts that both insurers offer include discounts for being a safe driver, bundling car and home insurance, insuring multiple cars, and having anti-theft devices in your car. They also offer discounts for being a good student, owning a home, or serving in the military. When purchasing any car insurance policy, you should always ask about available discounts to ensure you get the lowest price. Both Esurance and Farmers offer a very good array of discounts when compared to other auto insurers of a similar size. Farmers has a slight edge here, with discounts for a broader range of anti-theft devices.
View an overview of Esurance’s and Farmers’ discounts below:
|Bundle Home and Car Insurance Discount||✓||✓|
|Bundle Car and Life Insurance Discount||✓|
|Alternative Fuel Discount||✓|
|Electronic Stability Control (ESC) Discount||✓|
|Anti-Lock Brake Discount||✓||✓|
|Passive Restraint Device Discount||✓|
|Utility Vehicle Discount||✓|
|Farm or Ranch Vehicle Discount||✓|
|Good Driver Discount||✓||✓|
|Long Term Police Holder Discount||✓|
|Defensive Driving Course Discount||✓||✓|
|Affinity Group Discount||✓|
|Good Student Discount||✓||✓|
|Telematics Device Discount||✓||✓|
|Paid in Full Discount||✓||✓|
|Senior Driver Discount||✓|
Esurance vs. Farmers – Customer Experience
Both Esurance and Farmers receive relatively good reviews for their customer service. Esurance has a slightly higher rating from the Better Business Bureau – they get an A+ rating, while Farmers gets an A-. Both companies also get good financial stability ratings from AM Best, an organization that evaluates insurance companies and other financial organizations. Esurance also has an edge here – they get an A+ rating, while Farmers gets an A.
What Are the Advantages of Esurance?
Esurance is a great option for people who prefer to manage their policies online. They make it very easy to get a quote on their website, and you can use their mobile app to file claims, pay bills, review your policy information, and more. Esurance makes the car insurance process very simple and streamlined, so if you value convenience from your car insurance provider, it’s a great choice. Esurance is also a slightly better choice for those who are concerned about financial stability and service, as they get a better rating from AM Best.
What Are the Advantages of Farmers?
One of the biggest advantages of Farmers is that they have coverage available in all 50 states. They also offer both monthly and custom payment plans to make things more convenient for you. In addition to selling their products online, Farmers also has agents’ offices located throughout the country. If you prefer the personal attention and familiarity of working with an in-person agent, Farmers may be a better fit for your needs. Farmers is also the better choice for rideshare drivers, as Esurance does not offer any rideshare coverage. They have a slightly larger range of discounts as well and might be a better choice for those with custom or specialty vehicles.
Final Word – What’s Better, Esurance or Farmers?
Both Esurance and Farmers are very reliable car insurance providers worth considering for your next policy. Each company offers a wide range of policy options and discounts, and both are very financially reliable. The best way to find the right policy for your needs is to get quotes from several insurers and see who can offer you the best value for money.