Progressive is better than Farmers overall, per WalletHub's grading criteria. Farmers wins out over Progressive in terms of discounts offered, but Progressive is better when comparing types of insurance available, cost, and consumer ratings. The average Farmers car insurance premium is $89 per month, according to WalletHub’s research, while the average Progressive car insurance premium is $54 per month.
Compare Progressive vs. Farmers
- Types of Insurance: Progressive beats Farmers
- Cost: Progressive beats Farmers
- Discounts: Farmers beats Progressive
- NAIC Rating: Progressive beats Farmers
- J.D. Power Rating: Progressive and Farmers are evenly matched
Progressive has a higher customer review score on WalletHub and a better customer complaint score from the National Association of Insurance Commissioners (NAIC). However, both Progressive and Farmers have received more than the average number of customer complaints for insurance companies their size, according to the NAIC.
Consumers have complained most about Progressive’s slow or unsatisfactory claims-handling process and Farmers’ tendency to deny claims. Nevertheless, Farmers and Progressive are both in good standing with leading credit rating agencies like A.M. Best, S&P, and Moody’s Investors Service – a show of their financial strength and claims-paying ability. Farmers and Progressive also received the same J.D. Power rating: 4.1/5.
With all of that being said, Progressive is ultimately better than Farmers when it comes to attracting customers. Progressive was the third-largest provider of private-passenger car insurance in 2019, having written 12.2% of the policies in the country, according to the Insurance Information Institute. Farmers ranked seventh in the nation, having written 4.2% of personal car insurance premiums in 2019.
Progressive vs. Farmers: Customer Satisfaction Ratings
|NAIC Complaint Index
|J.D. Power Rating
The NAIC calculates its Complaint Index score by dividing a company’s number of complaints by its share of market premiums. If that score is higher than the national average of 1.00, the company has received more complaints than the typical insurer its size. Both Farmers and Progressive have more complaints than average, scoring over 1.00.
To learn more about what sets these two insurance providers apart, check out WalletHub’s full Farmers review
and Progressive review