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

Quick Facts

• In general, American National offers significantly more affordable premiums than Farm Bureau Financial Services
• American National offers more affordable rates for policyholders who have a short commute
• American National offers less expensive average premiums for policyholders whose driving record contains an at-fault collision

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

Are you in the market for a new insurance policy? You've probably seen commercials and billboards from companies offering large savings, but exactly how much money can you save by switching?

You might be considering American National or Farm Bureau Financial Services as your top options, but which carrier has more affordable prices for car insurance?

Looking at the national average rates for both carriers, American National is quite a bit cheaper than Farm Bureau Financial Services, with rates averaging $87 a month compared to $170 with Farm Bureau Financial Services.

However, American National may not be the most affordable or best option for each driver out there. Auto insurance companies use tons of complex algorithms to determine premiums, so depending on where you live or how clean your driving record is (among a range of other factors), you could see wildly different prices from the ones above.

So, if you want to find out which of American National or Farm Bureau Financial Services is really the best for you, keep reading to see average rates for each company broken down by a variety of different rate factors.

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

American National and Farm Bureau Financial Services only compete against each other in one states, with American National offering less expensive prices to the average driver in all of them. Nebraska has the most noticable difference, where American National rates are $81 cheaper than car insurance premiums at Farm Bureau Financial Services.

There's a lot more that goes into your auto insurance cost than just where you live. Read on to find out more.

Which is the Best Company For Young Drivers?

You might already know that teen drivers normally pay a lot more for insurance than any other group of drivers out there on the road. Usually, that's because teen drivers are statistically much more likely to get into an accident that results in an auto insurance claim, making them much riskier to insure.

But that doesn't mean that teen drivers have to just accept sky-high car insurance rates. For example, 18-year-old drivers pay an average of almost 40% less per month by choosing American National over Farm Bureau Financial Services.

That being said, with both carriers, you'll see your premiums lower significantly once you turn 25. For example, average prices for American National policyholders reduce around $100 and Farm Bureau Financial Services's rates decrease about $200 over that time.

Which is the Best Company for Retired Drivers?

Drivers around retirement age typically enjoy some of the lowest auto insurance premiums you'll ever see. After all, they've likely been driving for quite some time, which generally lowers their chances of collisions and other infractions that can raise prices.

When looking at American National and Farm Bureau Financial Services specifically, which carrier is best for retired drivers? American National gets the edge, with rates for drivers 65 and older $61 more affordable than the national average for Farm Bureau Financial Services.

Which is the Best Company for Married Drivers?

Did you know that insurance prices are typically less expensive for married drivers than they are for single policyholders? That's because policies for married couples generally cover more than one vehicle, which many companies will give you a discount for.

For those who are single, the difference in average premiums between these two carriers is significant, with American National rates coming in at around half of Farm Bureau Financial Services's. The advantage for married policyholders with American National is also obvious, where drivers save nearly 55% a month.

American National or Farm Bureau Financial Services: Average Rates by Gender

Men are statistically more likely than women to get into accidents and file an insurance claim, which means they'll normally end up paying more for car insurance than women.

Women usually pay about $1 per month less than men with American National, but surprisingly, with Farm Bureau Financial Services, women usually pay around $5 a month more than men.

When it comes to the cheapest prices for each gender, American National comes out on top for both men and women, with average premiums 48% less for men and 50% cheaper for women.

American National vs. 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.

For most people, insurance isn't the easiest topic to understand. Everyone needs auto insurance, but there are so many different terms and coverages that it can be hard to find the right policy for you.

The two most common policies that drivers look at fall into two categories -- liability coverage (that covers property damage and bodily injury for other drivers and passengers if you cause a collision) and full coverage (which typically refers to having collision and comprehensive coverages alongside liability coverage).

Looking specifically at state minimum liability limits, 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 per month to Farm Bureau Financial Services's $253.

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

It's no secret -- drivers with good records end up getting the best deals on their car insurance. But that's not to say you can't save money if you don't have the best driving record, either.

It's no secret secret that speeding tickets and collisions lead to higher premiums, but which company -- American National or Farm Bureau Financial Services -- has the lowest prices for drivers with less-than-perfect records?

Which Company is Best for Drivers with Speeding Tickets?

Policyholders who use American National for their insurance can usually expect their monthly bill to go up around 20% after getting a speeding ticket. Farm Bureau Financial Services policyholders can expect a less drastic increase of about 17%.

Even so, American National is generally the cheaper option for drivers both with a ticket and with a clean record. With American National Insurance Company, drivers with a clean record can save around $54 a month and drivers with a speeding ticket can save about $62 per month.

Which Company is Best for Drivers After an Accident?

American National drivers who get in an accident can expect to see their premiums rise by just under $30, while those who have insurance through Farm Bureau Financial Services will see around a $65 increase.

At the end of the day, the more affordable prices come from American National, with average rates coming in at $95 compared to Farm Bureau Financial Services's $187.

Which Company is Best for Drivers with a DUI?

If you get a DUI charge, you can expect some pretty significant increases in your monthly auto insurance bill -- normally a lot more than a collision or ticket. On average, Farm Bureau Financial Services will increase your premiums about 46% after a DUI, while American National's average prices climb by more than 35%.

But if you end up with a DUI charge and are looking for more affordable rates, American National tends to be less expensive for the average driver, with monthly premiums coming in at around $104 to Farm Bureau Financial Services's $226.

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

In many cases, your credit score can be used as one of the variables to calculate your monthly car insurance premiums. This isn't true for everyone (Michigan, for example, has banned the use of credit score as an insurance factor) but it will come into play for a lot of policyholders.

Auto insurance companies argue that someone with good credit is more likely to pay their bills on time, which makes them less risky to insure. Because of that, drivers with good credit will often be rewarded with cheaper prices.

So, which carrier offers the most affordable rates for policyholders with poor, average, or good credit?

Which Company is Best for Drivers with Good Credit?

Which Company is Best for Drivers with Bad Credit?

Is American National 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 how much insurance carriers will charge for coverage. That's because the fewer miles you put on your car each year, the less likely you are to be in an accident and file an insurance claim.

For both remote workers and those taking short commutes, American National offers less expensive prices than Farm Bureau Financial Services. Farm Bureau Financial Services average premiums for drivers with 6,000 annual miles come in about $82 more expensive than American National. Those who drive 12,000 miles annually can expect to pay around $84 more with Farm Bureau Financial Services over American National.

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

Where you call home can play a pretty big role in how much you pay for auto insurance. Typically, if you live in an urban area with more cars on the road, you'll pay a little more for insurance, while the opposite is true for people in rural areas.

American National boasts the cheapest average rates for drivers in every type of area, no matter if it's urban, suburban, or rural.

In urban areas, American National's average prices are about $104 while Farm Bureau Financial Services offers premiums around $196. Drivers in suburban ZIP codes pay a monthly rate of about $85 with American National compared to $159 with Farm Bureau Financial Services. If you live in a rural area, you can expect to pay around $73 a month with American National compared to Farm Bureau Financial Services's $155.

American National vs. Farm Bureau Financial Services Discounts

No matter why you might be in the market for a new car 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 taking advantage of as many auto insurance discounts as possible.

But where do you even start? With so many discounts out there, it may seem hard to find all the of the ones you can take advantage of.

Luckily, we did the hard work for you and looked at all of the different discounts American National and Farm Bureau Financial Services offer their customers so that you can easily see which company offers the most discounts and, therefore, the largest savings.

Overall, American National comes out ahead with 14 discounts to Farm Bureau Financial Services's nine.

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. American National also offers discounts for claim free, COVID-19 relief, distant student, and more.

On the other hand, Farm Bureau Financial Services has a few proprietary discounts of their own for things like good driving discounts, life policy discounts, paid in full discounts, and more.

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

So, we've broken down the average rates for many of the factors insurance companies look at, and we've shown you all the discounts each company offers. That's all well and good, but at the end of the day, which carrier is the right one for you and your specific driver profile?

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

• You have received a ticket within the last few years.
• Your neighborhood is in the suburbs.
• You are purchasing your car insurance with a spouse.

Farm Bureau Financial Services 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 Farm Bureau Financial Services and that it aids in making a more informed decision about your auto insurance.

At the end of the day, the best way to make sure you're getting the best deal on your insurance policy is to compare quotes from multiple carriers, not just American National and Farm Bureau Financial Services. Luckily, Compare.com does all the hard work for you. Just enter your ZIP code below and get multiple quotes from some of the best car insurance companies in your area, all for free.

American National vs. Farm Bureau Financial Services FAQs

Is American National or Farm Bureau Financial Services cheaper?

American National is the more affordable of the two carriers when looking at national average premiums, with policies averaging $87 a month with American National and $170 for Farm Bureau Financial Services. That being said, that doesn't mean American National will be the lowest company for everyone, since there are a range of different variables (things like age, driving record, gender, etc.) that play a role in how much you pay.

Who is better, American National or Farm Bureau Financial Services?

Sadly, the real answer is "it depends.". No one carrier is "better" for everyone -- it all boils down to your unique insurance profile.

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

Auto insurance companies use quite a few different factors when determining the prices they charge. Variables like your driving record, where your home is, gender, age, and sometimes even things like your credit score can all be used. Both American National and Farm Bureau Financial Services calculate rates differently, so it's likely they'll offer different premiums. The best way to determine which company is the most affordable for you is by comparing personalized quotes from multiple different carriers.

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

The only way to find the car insurance carrier that's right for you is by getting quotes from a handful of companies 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 quotes from dozens of your local top insurance carriers 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 Farm Bureau Financial Services 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.