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

Quick Facts

• Based on national averages for car insurance, American Select offers significantly cheaper prices than Farm Bureau
• American Select offers more affordable average rates for drivers who have an at-fault accident on their record
• American Select offers more discounts than Farm Bureau Insurance of Michigan

American Select vs. Farm Bureau: Which Company has the Cheapest Car Insurance?

So, you're considering switching your auto insurance. After all, you've seen ads from all sorts of companies offering hefty discounts. But exactly how much can you save by switching?

You might have narrowed your search down to American Select or Farm Bureau for your next policy, but which one will save you the most?

As you can see, Farm Bureau is quite a bit more expensive than American Select, with premiums averaging $343 per month compared to just $170 with American Select when looking at the national average rates for auto insurance.

That being said, that doesn't mean American Select will necessarily be less expensive than Farm Bureau for every driver. After all, insurance companies can offer drastically different rates to each driver depending on rating factors like your driving record, your credit score, where you call home, or even your age (among other things), so prices will differ quite a bit from person to person.

Luckily, we've broken down average rates from both American Select and Farm Bureau by a variety of different rate factors, so read on to find out which carrier is the best for you.

American Select or Farm Bureau: Average Car Insurance Rates by State

American Select and Farm Bureau only compete against each other in Michigan, where American Select offers the cheaper average premiums. For Michigan residents, American Select offers car insurance for $213 per month on average. Farm Bureau's average prices come out to be over 60% more expensive, at $343 a month.

That being said, there's a lot more that goes into your auto insurance bill than just where you call home. Read on to learn more.

Which is the Best Company For Young Drivers?

You might already know that teen drivers usually pay a lot more for car insurance than any other group of drivers out there on the road. That's because young, inexperienced drivers are statistically much more likely to cause collisions and other accidents that will result in an insurance claim.

But that doesn't mean teen drivers can't still save money on their insurance. As you can see above, teens who use American Select save more than $150 a month compared to those who use Farm Bureau.

Even so, both carriers will offer you dramatically lower premiums by the time drivers turn 25. For example, average prices for American Select policyholders reduce over 45% and Farm Bureau's rates drop nearly 25% over that time.

Which is the Best Company for Retired Drivers?

When it comes to car insurance, patience and experience pay off, with drivers around retirement age paying some of the cheapest prices you'll ever find.

When looking at American Select and Farm Bureau specifically, which company is best for retired drivers? American Select gets the edge, with rates for drivers 65 and older $154 cheaper than the national average for Farm Bureau.

Which is the Best Company for Married Drivers?

Did you know that auto insurance premiums are generally more affordable for married couples than they are for single drivers? That's because policies for married drivers typically cover several cars, which several companies will offer you a discount for.

When it comes to relationship status, American Select is the clear winner for those who are single, with prices about $170 per month less expensive than Farm Bureau, on average. For married policyholders, the advantage is clear again - American Select has the edge when it comes to average rates.

American Select vs. Farm Bureau: Average Rates by Gender

Because men are more likely to get into collisions and get speeding tickets, they have a higher chance of filing a claim with insurance. Therefore, men tend to get higher rates than women.

With American Select, women normally pay around $1 a month less than men; women and men end up paying same monthly premiums with Farm Bureau.

Looking at the data for each carrier specifically, American Select comes out as the lowest option for both genders, with average prices 50% less for men and 50% cheaper for women.

American Select or 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.

For most people, insurance can be pretty complicated. There are multiple different coverages that account for a bunch of different things. Some protect you and your vehicle, while others only provide coverage for other people's property and health if you cause an accident.

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

If you're looking for state minimum liability limits, American Select typically offers significantly more affordable premiums of $90 compared to Farm Bureau's $218. When it comes to full coverage policies with similar limits, American Select again has the edge, with policies about $200 per month less expensive than Farm Bureau, on average.

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

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

You'll probably end up paying more with accidents and tickets on your record, but which of these two companies offers the most affordable premiums to drivers with spotty records?

Which Company is Best for Drivers with Speeding Tickets?

American Select policyholders can expect their prices to go up an average of $32 a month if they get a ticket, while Farm Bureau normally raises rates around $94 per month, on average.

Even so, American Select tends to offer the best prices for drivers both with clean records and with a speeding ticket. Drivers with a clean record can save about $85 a month and drivers with a ticket can save around $147 per month with American Select Insurance Company.

Which Company is Best for Drivers After an Accident?

Both carriers will increase premiums pretty significantly if you get into an at-fault collision with American Select raising by over $40. Farm Bureau has a less extreme raise, but you can still expect to pay more than $30 more than you were prior to your first accident.

Overall, drivers who use American Select end up with the cheaper prices after an accident, with monthly prices averaging $158 compared to Farm Bureau Insurance of Michigan's $233.

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 -- usually a lot more than an accident or speeding ticket. For example, Farm Bureau increases average rates by just under $450 a month -- that's just under a 70% increase.

If you have a DUI on your record and are looking for more affordable premiums, American Select tends to be the much cheaper option with average rates of $258 monthly compared to $641 from Farm Bureau.

How does Credit Score Impact American Select and Farm Bureau Rates?

You may not have known, but your credit score can be used as one of the factors to calculate your monthly insurance prices. This isn't always the case (for example, California and Hawaii are two states that ban the practice entirely), but it does affect quite a few drivers out there.

Car insurance companies argue that those with poor credit scores are less likely to pay their bills on time every month, which increases the risk involved on their end, while the opposite is true for those with good credit.

So, which company offers the cheapest rates for policyholders with good, average, or poor credit?

Which Company is Best for Drivers with Good Credit?

Michigan is one of a handful of states that bans auto insurance carriers from using credit scores to determine premiums. And since Farm Bureau is only available in Michigan, there is no data available on how credit score impacts prices because it's not a factor at all. This may be a good thing, since American Select and other companies tend to raise rates quite a bit in other states if you don't have excellent credit.

Which Company is Best for Drivers with Bad Credit?

If you have less-than-perfect credit and live in Michigan, the good news is it won't cost you extra when it comes to insurance. As you can see, poor credit can really cost American Select drivers in other states, but no need to worry if you live in Michigan.

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

How much you drive can have a pretty big impact on your monthly premiums. That's because the fewer miles you put on your vehicle, the less likely you are to get into a collision and cause an insurance claim.

As you can see in the table above, annual mileage doesn't have much of an impact on how much American Select charges. However, there's a small difference in monthly prices for Farm Bureau, with drivers who put 6,000 miles on their car yearly paying about $22 less each month compared to those who drive 12,000 miles annually. Still, American Select is the less expensive option for drivers in both categories.

American Select vs. Farm Bureau: Compare Rates for Urban, Suburban, and Rural Drivers

Where you park your vehicle can have a considerable impact on your monthly auto insurance payment. Generally, those who live in rural areas will pay less than drivers in urban areas due to the small number of cars that are on the roads in those areas.

American Select boasts the most affordable average prices for drivers in all types of areas, no matter if they're urban, suburban, or rural.

In urban areas, American Select Insurance Company's average premiums are around 55% less than Farm Bureau Insurance of Michigan. Drivers in suburban ZIP codes pay about 57% less with American Select compared to Farm Bureau. If you live in a rural area, you can expect to save around 30% with American Select compared to Farm Bureau.

American Select vs. Farm Bureau Discounts

You want to save as much money as possible, right? The best way to do that is by utilizing as many insurance discounts as you can.

But with what seems like a million different discounts out there, it can be challenging to nail down the company that has the most discounts for your unique driver profile and to find all the discounts you're eligible for.

Below, we've broken down all of the different discounts offered by both American Select and Farm Bureau so that you can find the carrier that has the most discounts and, therefore, the biggest savings.

American Select blows Farm Bureau away when it comes to the sheer amount of discounts available, offering 15 more discounts than Farm Bureau.

There are a couple discounts both carriers offer, but American Select also offers ABS discounts, account relationship discounts, agency transfer discounts, and more that Farm Bureau does not.

On the flip side, Farm Bureau has a unique discount of its own -- a term discounts.

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

So, you've seen how different variables can affect your car insurance prices. We've shown you all the discounts each carrier offers, too. But, at the end of the day, is American Select or Farm Bureau the right company for you and your specific needs?

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

• You've received a ticket for speeding recently and don't want to see your rates climb.
• You have above-average credit.
• You're buying insurance for a teen and looking for a wallet-friendly option.

Farm Bureau might be best for you if...

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

We hope this guide has ben a valuable resource as you compare American Select and Farm Bureau. We also hope we've given you the information you need to make the best decision about your car insurance.

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

American Select vs. Farm Bureau FAQs

Is American Select or Farm Bureau cheaper?

Looking just at the national average prices, American Select is the cheaper of the two companies, offering average rates of $170 per month compared to $343 for Farm Bureau. However, American Select won't necessarily be the lowest company for every driver, since there are lots of different factors (things like age, driving record, gender, etc.) that play a role in how much you pay.

Who is better, American Select or Farm Bureau?

Sadly, the only answer we can give you is "it depends.". No one carrier is "better" for each driver -- it all boils down to your unique car insurance profile.

Why do American Select and Farm Bureau offer me different rates?

Auto insurance carriers take a look at many different variables when calculating the rates they charge policyholders. Factors such as age, where your home is, gender, your driving record, and sometimes even things like your credit score can all be taken into consideration. Both American Select and Farm Bureau calculate premiums using different variables, so each one will most likely offer different prices. The only real way to see which company is the most affordable for you is by comparing personalized quotes from many different companies.

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

The only way to find the insurance carrier that's right for you is by getting quotes from a handful of carriers and finding the one best suited for your individual budget. Luckily, Compare.com makes it easy for you to do just that. Just enter your information once and you'll get free quotes from dozens of the best auto insurance companies in your area. With those, you can guarantee you're getting the best rate. And who knows, the best company for you might not be American Select or Farm Bureau 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.