American National vs. Colorado Farm Bureau: Which Company is the Best Fit for You?

Quick Facts

• Based on national averages for auto insurance, American National offers significantly more affordable rates than Colorado Farm Bureau
• American National offers more affordable premiums for policyholders who drive fewer than 6,000 miles every year
• American National offers less expensive average prices for policyholders who have a short commute

American National or Colorado Farm Bureau: Which Company has the Cheapest Car Insurance?

Are you in the market for a new insurance policy? With so many ads from all sorts of companies offering hefty savings, you're probably wondering exactly how much you might be able to save.

You've maybe even narrowed your search down to American National or Colorado Farm Bureau as your top options, but which one will save you the most?

Looking at the national average rates for both carriers, Colorado Farm Bureau is quite a bit more expensive than American National, with rates averaging $132 a month compared to just $87 with American National.

That being said, American National may not be the most affordable or best option for every driver out there. Insurance companies vary their prices depending on things like how clean your driving record is, how good your credit score is, how old you are, where you live, and a ton of other factors, so rates will differ quite a bit from person to person.

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

American National vs. Colorado Farm Bureau: Average Car Insurance Rates by State

American National and Colorado Farm Bureau only compete against each other in Colorado, where American National offers the cheaper average prices. American National drivers tend to pay about $45 per month less on average compared to drivers who use Colorado Farm Bureau for their auto insurance.

There are plenty of other factors that go into your car insurance payment than just the state you live in. Continue reading to learn more about how other variables will affect your rates.

Which is the Best Company For Young Drivers?

Young drivers -- especially teens -- typically pay a lot for auto insurance compared to older drivers. The reason is that teen drivers are statistically much more likely to get into accidents since they have less experience on the roads.

But that doesn't mean that teen drivers have to just accept sky-high insurance premiums. As you can see above, teens who use American National save almost 15% a month compared to those who use Colorado Farm Bureau.

Even so, both carriers will offer you dramatically lower rates by the time drivers turn 25. For example, average premiums for American National policyholders reduce over 60% and Colorado Farm Bureau's prices drop nearly 40% over that time.

Which is the Best Company for Retired Drivers?

Drivers around retirement age normally enjoy some of the cheapest car insurance rates you can find. After all, they've likely been driving for quite some time, which usually decreases their chances of collisions and other infractions that can raise premiums.

But who has the best prices for retired drivers between American National and Colorado Farm Bureau? American National gets the edge, with rates for drivers 65 and older more than 40% cheaper than the national average for Colorado Farm Bureau.

Which is the Best Company for Married Drivers?

You may not be aware, but auto insurance prices tend to be more expensive for single policyholders than they are for married couples. That's generally because married drivers tend to own and insure several vehicles, which can often earn you a discount.

For those who are single, the difference in average premiums between these two companies is significant, with American National rates coming in at a third less than Colorado Farm Bureau's. The advantage for married policyholders with American National is also obvious, where drivers save over 40% per month.

American National or Colorado Farm Bureau: Average Rates by Gender

Men are statistically more likely than women to cause a collision and get into accidents. That means when it comes to insurance men will usually end up paying a little more.

With American National, women normally pay around 1% a month less than men, and about 2% less with Colorado Farm Bureau.

Looking at the data for each carrier specifically, American National offers the lowest average prices for both men and women. On average, women save about $44 per month and men save around $45 with American National compared to the average Colorado Farm Bureau policyholder.

American National vs. Colorado Farm Bureau: 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. There are so many different coverages and limits that it can make it pretty confusing to find the right policy for you.

However, most policies end up falling into two different types of coverage -- liability coverage (that covers bodily injury and property damage for other drivers and their passengers if you cause a collision) and full coverage (which includes two additional coverages -- collision and comprehensive -- in addition to what you get with a liability policy).

Looking specifically at state minimum liability insurance, American National has the significant edge, with average monthly rates coming in at $52. If you want a full coverage policy with the same state minimum limits, American National again has the edge, with policies averaging about $123 a month to Colorado Farm Bureau's $193.

Is American National or Colorado Farm Bureau Better for Drivers with Spotty Records?

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

Accidents and speeding tickets will most likely raise your rates, but is American National or Colorado Farm Bureau more affordable for drivers with less-than-ideal driving records?

Which Company is Best for Drivers with Speeding Tickets?

Policyholders who use American National for their auto insurance can generally expect their monthly bill to go up around 20% after getting a speeding ticket. Colorado Farm Bureau policyholders can expect a less drastic increase of about 16%.

But American National is typically the less expensive option for both drivers who have a recent ticket and those with clean records. With American National Insurance Company, drivers with a clean record can save around $45 per month and drivers with a speeding ticket can save about $50 a month.

Which Company is Best for Drivers After an Accident?

After an accident, drivers who have their car insurance through American National can expect to see around an $28 -- or about 29% -- rise in their insurance premiums. Drivers who use Colorado Farm Bureau for their car insurance will see a monthly bill around $25 (or 18%) more expensive after reporting an accident to their auto insurance company.

At the end of the day, American National offers the most affordable prices for drivers with an at-fault collision on their records, with average rates coming in at $95 compared to Colorado Farm Bureau Insurance's $137.

Which Company is Best for Drivers with a DUI?

On average, a DUI offense is going to cost you much more than a single accident or ticket when it comes to your car insurance bill. On average, American National will raise your premiums about 36% after a DUI, while Colorado Farm Bureau's average prices climb by more than 20%.

But if you end up with a DUI charge and are looking for more affordable premiums, American National tends to be cheaper for the average driver, with monthly premiums coming in at around $104 to Colorado Farm Bureau's $144.

How does Credit Score Impact American National and Colorado Farm Bureau Rates?

Did you know many auto insurance companies take into account your credit score when determining rates? This isn't true for everyone (for example, are two states that ban the practice entirely), but it does affect lots of drivers out there.

Insurance carriers argue that someone with bad credit is less likely to pay their bills on time, which makes them riskier to insure. Because of that, policyholders with bad credit will often be forced to pay more.

Looking specifically at Colorado Farm Bureau and American National, which carrier has the best prices for drivers at different credit levels?

Which Company is Best for Drivers with Good Credit?

If you have a great credit score, American National will usually reward you the most. For policyholders with "excellent" credit scores, American National comes in nearly 37.8 less expensive. Drivers with "good" credit scores generally save about 38% with American National compared to average premiums from Colorado Farm Bureau.

Which Company is Best for Drivers with Bad Credit?

American National typically offers lower prices than Colorado Farm Bureau when it comes to drivers with less-than-perfect credit. Drivers with "fair" credit pay around 35% per month less with American National compared to Colorado Farm Bureau, and those with "poor" scores normally save an average of about 29% monthly.

Is American National or Colorado Farm Bureau Better for Drivers who Work from Home or Have Short Commutes?

How much you drive can have a considerable impact on your monthly rates. That's because the more milage you put on your car, the more likely you are to be in a collision and file an insurance claim.

As you can see in the table above, annual mileage doesn't have much of an impact on how much Colorado Farm Bureau charges. However, there's a small difference in monthly premiums for American National, with policyholders who drive 6,000 miles annually paying around $9 less each month compared to those who drive 12,000 miles yearly. Still, for drivers in both categories, American National is the more affordable carrier.

American National or Colorado Farm Bureau: Compare Rates for Urban, Suburban, and Rural Drivers

Where your home is can play a pretty big 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 auto insurance, while the opposite is true for people in urban areas.

When comparing these two companies side-by-side, American National generally comes out as the lowest option for drivers in all types of areas, no matter if they're urban, suburban, or rural.

For drivers in urban ZIP codes, American National Insurance Company's average prices are about 33% less than Colorado Farm Bureau Insurance. People who live in suburban areas pay around 46% less with American National compared to Colorado Farm Bureau. Those in rural areas can expect to save about 14% with American National compared to Colorado Farm Bureau.

American National vs. Colorado Farm Bureau Discounts

No matter why you might be in the market for a new insurance policy, you're always going to want to save as much money as you can, and the best way to do that is by utilizing as many auto insurance discounts as possible.

But with what seems like a million different discounts out there, it can be difficult 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.

Luckily, we did the hard work for you and broke down all of the different discounts offered by both American National and Colorado Farm Bureau so that you can see which company offers the most discounts and see which ones you might be able to take advantage of.

American National blows Colorado Farm Bureau away when it comes to the sheer amount of discounts available, offering 14 different discounts to Colorado Farm Bureau's four.

A couple of those are overlapping for things like discounts for being a defensive driver, discounts for being a good student, and multi-policy discounts. American National also offers discounts for anti-theft, claim free, COVID-19 relief, and more.

Colorado Farm Bureau's discounts come through just a few categories, including Defensive Driver, Driver Training, Good Student, and more.

Final Thoughts: Is American National or Colorado Farm Bureau Best for You?

You've seen the role certain factors have on your car insurance and the different discounts carriers offer. But, when it comes down to it, which carrier is the best carrier for you and your specific needs?

American National might be best for you if....

• Your driving record includes a DUI charge.
• Your neighborhood is in a city.
• You want to save money while purchasing insurance for a teenager.

Colorado Farm Bureau might be best for you if...

• You have a more unique driver profile than those we mentioned above.

Hopefully, this guide helps you get a good idea of the differences between American National and Colorado Farm Bureau. We also hope we've given you the information you need to make the best 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 insurance -- comparing quotes from a handful of companies, not just American National and Colorado Farm Bureau. 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 car insurance carriers in your area, all in just a few minutes.

American National vs. Colorado Farm Bureau FAQs

Is American National or Colorado Farm Bureau cheaper?

American National is the cheaper of the two companies when looking at national average rates, with policies averaging $87 a month with American National and $132 for Colorado Farm Bureau. Even so, that doesn't mean American National will be the cheapest company for every policyholder, since there are a variety of different variables that come into play when it comes to your auto insurance cost.

Who is better, American National or Colorado Farm Bureau?

Unfortunately, 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.

Why do American National and Colorado Farm Bureau offer me different rates?

Car insurance carriers use several different factors when calculating the premiums they charge. Variables such as where you park your vehicle, age, gender, where you live, and sometimes even things like your credit score can all be used. Both American National and Colorado Farm Bureau calculate prices using different factors, so it's likely they'll offer different rates. The best way to determine which company is the lowest for you is by comparing personalized quotes from many different companies.

How do I know if American National or Colorado Farm Bureau is right for me?

The only way to find the auto insurance carrier that's right for you is by getting quotes from several carriers and finding the one best suited for your individual budget. Luckily, Compare.com does all the hard work for you. Just enter your area information and you'll get quotes from dozens of your local top insurance companies for free. With those, you can guarantee you're getting the best premium. And maybe you'll find that the best company for you isn't American National or Colorado Farm Bureau at all, but another you hadn't even thought of!

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.