Allstate vs. Farm Bureau Financial Services: Which Company is the Best Fit for You?

Quick Facts

• Based on national averages for insurance, Farm Bureau Financial Services offers more affordable rates than Allstate
• Allstate offers more discounts than Farm Bureau Financial Services
• Farm Bureau Financial Services has cheaper prices for policyholders who don't have any speeding tickets, DUIs, or at-fault accidents on their record

Allstate vs. Farm Bureau Financial Services: Which Company has the Cheapest Car Insurance?

Are you considering a new insurance policy? After all, you've seen ads from all sorts of companies offering large discounts. But exactly how much can you save by switching?

You've maybe even narrowed your search down to Allstate or Farm Bureau Financial Services for your next policy, but between the two, which company will save you the most?

Looking at the national average rates for both companies, Allstate has average rates that are about 15% per month more expensive than those from Farm Bureau Financial Services.

That being said, that doesn't necessarily mean Farm Bureau Financial Services will be the more affordable option for every single driver. After all, auto insurance carriers can offer drastically different rates to each driver depending on rating factors like your age, your credit score, your driving record, or even where you call home (among other things). So, at the end of the day, rates from every carrier will differ quite a bit from person to person.

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

Allstate or Farm Bureau Financial Services: Average Car Insurance Rates by State

Allstate and Farm Bureau Financial Services compete against each other in eight states, with Farm Bureau Financial Services offering cheaper premiums to the average driver in all of them. If you live in New Mexico or South Dakota, Allstate is the less expensive of the two companies when looking at the overall average prices. Farm Bureau Financial Services is the cheaper option in Arizona, Iowa, Kansas, Minnesota, and Utah.

But there's more to calculating insurance premiums than just where you live. Keep reading to find out more.

Which is the Best Company For Young Drivers?

Young drivers -- especially teens -- generally pay a lot for auto insurance compared to older drivers. It's because young, inexperienced drivers are statistically much more likely to get into accidents since they have less experience on the roads.

Even so, that doesn't mean that teen drivers have to just accept sky-high car insurance rates. As you can see above, teens who use Farm Bureau Financial Services save more than $100 a month compared to those who use Allstate.

However, both carriers will decrease prices by the time drivers turn 25. Farm Bureau Financial Services offers the steepest reduction, with 25-year-olds paying less than half what 18-year-old drivers are charged. Allstate's average premiums drop nearly 65% during that same period.

Which is the Best Company for Retired Drivers?

Once you approach retirement age, you'll normally enjoy the lowest insurance rates out there. You've been on the road for years, and all that experience pays off when it comes to your monthly prices for auto insurance.

When looking at Allstate and Farm Bureau Financial Services specifically, which carrier is best for retired drivers? Farm Bureau Financial Services gets the edge, with rates for drivers 65 and older over 15% less expensive than the national average for Allstate.

Which is the Best Company for Married Drivers?

You may not be aware, but car insurance premiums tend to be more expensive for single policyholders than they are for married policyholders. That's typically because married couples tend to own and insure more than one car, which can often earn you a discount.

When it comes to relationship status, Farm Bureau Financial Services is the clear winner for those who are single, with prices around $37 per month more affordable than Allstate, on average. For married drivers, the advantage is clear again - Farm Bureau Financial Services has the edge when it comes to average premiums.

Allstate vs. Farm Bureau Financial Services: Average Rates by Gender

Men are statistically more likely than women to cause a collision and get into accidents, which means they'll usually end up paying more for insurance than women.

Men generally pay almost $10 a month more than women with Allstate, but surprisingly, with Farm Bureau Financial Services, men typically pay about $5 per month less than women.

Looking at overall affordability, Farm Bureau Financial Services comes out as the most affordable option for both genders, with average rates 17% less for men and 11% cheaper for women.

Allstate or Farm Bureau Financial Services: 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.

Car insurance can be a complicated subject for most people. Everyone needs auto insurance, but there are so many different terms and limits that it can be hard to find the right policy.

But most policies end up falling into two different types of coverage -- liability only (which covers the other party's property damage and injuries if you cause an accident) and full coverage (which includes comprehensive and collision coverages that protect your own vehicle, in addition to liability).

If you're looking for state minimum liability insurance, Farm Bureau Financial Services usually offers less expensive premiums of $87 compared to Allstate's $108. When it comes to full coverage policies with similar limits, Farm Bureau Financial Services again has the edge, with policies around $35 a month more affordable than Allstate, on average.

Is Allstate or Farm Bureau Financial Services Better for Drivers with Spotty Records?

It's no big secret that drivers who are accident-free get better deals on their insurance. But even if you have a spotty record, you can still find plenty of ways to save some cash on your monthly bill.

It's no secret secret that tickets and at-fault collisions lead to higher prices, but which company -- Allstate or Farm Bureau Financial Services -- has the cheapest rates for drivers with less-than-perfect records?

Which Company is Best for Drivers with Speeding Tickets?

Allstate policyholders can expect their prices to go up an average of $27 per month if they get a ticket, while Farm Bureau Financial Services normally raises premiums about $25 a month, on average.

However, Farm Bureau Financial Services has cheaper rates for drivers in both categories -- their rates are around 22% less expensive for drivers with clean records and 20% more affordable for those with a ticket.

Which Company is Best for Drivers After an Accident?

Allstate drivers who get in a collision can expect to see their prices rise by over 30%, while those who have insurance through Farm Bureau Financial Services will see around a 35% increase.

Overall, Farm Bureau Financial Services offers the most affordable premiums for drivers with an at-fault accident on their records, with monthly rates averaging $187 compared to Allstate's $229.

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 speeding ticket or even an accident. Farm Bureau Financial Services drivers usually see a 46% raise in their auto insurance premiums after a DUI charge, while Allstate will usually climb rates by about 31%.

If you have a DUI on your record and are looking for more affordable prices, Farm Bureau Financial Services tends to be the much cheaper option with average rates of $226 monthly compared to $227 from Allstate.

How does Credit Score Impact Allstate and Farm Bureau Financial Services Rates?

Did you know that many car insurance companies take into account your credit score when calculating prices? This isn't always the case (for example, are two states that ban the practice entirely), but it might come into play for a lot of policyholders.

Auto insurance carriers 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 carrier offers the best premiums for drivers with good, average, or poor credit?

Which Company is Best for Drivers with Good Credit?

If you have great credit, you'll usually find a better deal with Farm Bureau Financial Services. Policyholders with "excellent" credit can save over 10% compared to Allstate, and those with "good" scores can also expect to see savings -- around $32 or 19% less expensive every month.

Which Company is Best for Drivers with Bad Credit?

Farm Bureau Financial Services typically offers lower prices than Allstate when it comes to drivers with a below average credit score. Drivers with "fair" credit pay about $43 per month less with Farm Bureau Financial Services compared to Allstate, and those with "poor" scores generally save an average of around $21 a month.

Is Allstate or Farm Bureau Financial Services Better for Drivers who Work from Home or Have Short Commutes?

The amount of time you spend behind the wheel of your car plays a big role in your monthly premiums. Normally, the more miles you drive, the more you can expect to pay for insurance.

For both drivers who put 6,000 miles on their vehicles each year, as well as those who average twice that figure, Farm Bureau Financial Services offers cheaper rates than Allstate. Allstate's average prices for drivers with 6,000 annual miles come in more than 15% more expensive than Farm Bureau Financial Services. Those who drive 12,000 miles yearly can expect to pay over 10% more with Allstate over Farm Bureau Financial Services.

Allstate vs. Farm Bureau Financial Services: Compare Rates for Urban, Suburban, and Rural Drivers

Where you live can play a sizable role in how much you pay for car insurance. Typically, if you live in a rural area with fewer cars on the road, you'll pay a little less for insurance, while the opposite is true for people in urban areas.

Farm Bureau Financial Services boasts the lowest average premiums for drivers in all types of areas, no matter if they're urban, suburban, or rural.

For drivers in urban ZIP codes, Farm Bureau Financial Services offers rates about $196 per month compared to Allstate's $222. People who live in suburban ZIP codes can expect to pay around $159 a month for Farm Bureau Financial Services and $199 for Allstate. Lastly, those in rural areas tend to get the cheapest prices from both companies, with average monthly rates coming in at $155 and $174 for Farm Bureau Financial Services and Allstate respectively.

Allstate vs. Farm Bureau Financial Services Discounts

Regardless of why you might be in the market for a new auto 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.

The challenging part is finding all of the discounts you're eligible for, since it can feel sometimes like every company has different discounts and each one is advertised differently.

In the section below, we've compared all of the different discounts offered by Allstate and Farm Bureau Financial Services so that you can easily see which company offers the most discounts and see which ones you might be able to take advantage of.

Allstate blows Farm Bureau Financial Services away when it comes to the sheer amount of discounts available, offering 31 more discounts than Farm Bureau Financial Services.

A couple of those are overlapping for things like anti-theft discounts, discounts for being a defensive driver, and discounts for being a good student. Allstate also offers ABS discounts, advance quote discounts, agency transfer discounts, and more that Farm Bureau Financial Services does not.

On the flip side, Farm Bureau Financial Services has a couple unique discounts of its own -- safe young driver discounts, seasoned account discounts, and telematics discounts.

Final Thoughts: Is Allstate or Farm Bureau Financial Services Best for You?

You've seen the role certain factors have on your insurance and the different discounts carriers offer. But, at the end of the day, is Allstate or Farm Bureau Financial Services the best one for you and your specific needs?

Farm Bureau Financial Services might be best for you if....

• You have received a ticket within the last few years.
• Your credit is less-than-stellar.
• You drive fewer than 12,000 miles annually.

Allstate might be best for you if...

• You're thinking about moving to another state -- Farm Bureau Financial Services only offers policies in eight states.
• You're looking for discounts -- Allstate has the most.

We hope this guide has ben a valuable resource as you compare Allstate and Farm Bureau Financial Services and that you can now make a more informed decision when it comes to 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 companies, not just Allstate and Farm Bureau Financial Services. Luckily, sites like Compare.com do all the hard work for you. Simply enter your ZIP codes below and get free quotes from dozens of top auto insurance carriers in your area, all in just a few minutes.

Allstate vs. Farm Bureau Financial Services FAQs

Is Allstate or Farm Bureau Financial Services cheaper?

Looking just at the national average premiums, Farm Bureau Financial Services is the more affordable of the two companies, offering average rates of $170 per month compared to $199 for Allstate. Even so, Farm Bureau Financial Services won't necessarily be the most affordable carrier for every driver, since there are lots of different variables (things like gender, age, driving record, etc.) that play a role in how much you pay.

Who is better, Allstate or Farm Bureau Financial Services?

Sadly, the only answer we can give you is "it depends.". No single company is "better" for each driver -- it all depends on what your unique car insurance profile looks like.

Why do Allstate and Farm Bureau Financial Services offer me different rates?

Insurance carriers take a look at quite a few different factors when determining the prices they charge policyholders. Things like your driving record, gender, age, where you park your car, and sometimes even things like your credit score can all be taken into consideration. Both Allstate and Farm Bureau Financial Services calculate premiums differently, so each one will most likely offer different rates. The only real way to see which carrier is the lowest for you is by comparing personalized quotes from many different companies.

How do I know if Allstate or Farm Bureau Financial Services is right for me?

The only way to find the car insurance company that's right for you is by getting quotes from multiple carriers and finding the one best suited for your individual budget. Luckily, sites like Compare.com make it easy for you to do just that. Just enter your area information and you'll get free quotes from dozens of the best insurance companies in your area. With those, you can guarantee you're getting the cheapest price. And who knows, the best carrier for you might not be Allstate or Farm Bureau Financial Services at all!

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.