Auto-owners vs. Colorado Farm Bureau: Which Company is the Best Fit for You?

Quick Facts

• In general, Colorado Farm Bureau offers significantly less expensive rates than Auto-owners
• Auto-owners offers more discounts than Colorado Farm Bureau Insurance
• Colorado Farm Bureau offers more affordable prices for people who are single and purchasing insurance by yourself

Auto-owners vs. Colorado Farm Bureau: Which Company has the Cheapest Car Insurance?

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

You've maybe even narrowed it down to Auto-owners or Colorado Farm Bureau, but between the two, which carrier will offer you more affordable rates?

Looking at the national average rates for both companies, Colorado Farm Bureau has average rates that are about 25% per month cheaper than those from Auto-owners.

Even so, Colorado Farm Bureau may not be the cheapest or best option for every driver out there. Car insurance carriers use a ton of complex algorithms to calculate premiums, so depending on how good your credit score is or how clean your driving record is (among a multitude of other factors), you could see wildly different prices from the ones above.

So, if you want to find out which of Auto-owners or Colorado Farm Bureau is really the best for you, keep reading to see average rates for each company broken down by several different rate factors.

Auto-owners or Colorado Farm Bureau: Average Car Insurance Rates by State

Auto-owners and Colorado Farm Bureau only compete against each other in Colorado, where Colorado Farm Bureau offers the cheaper average prices. For Colorado residents, Colorado Farm Bureau offers auto insurance for $132 monthly on average. Auto-owners's average premiums come out to be over 50% more expensive, at $208 per month.

That being said, there's a lot more that goes into your insurance payment than just the state you live in. Continue reading to learn more about how other factors will affect your rates.

Which is the Best Company For Young Drivers?

Teen drivers will almost always have the most expensive auto insurance rates of any group out there on the road. It's because young, inexperienced drivers are statistically much more likely to get into an accident that results in a car insurance claim, making them much riskier to insure.

But that doesn't mean that teen drivers have to just accept sky-high car insurance prices. As you can see above, teens who use Colorado Farm Bureau save more than $150 a month compared to those who use Auto-owners. It's worth noting that Auto-owners offers insurance in 23 different states compared to Colorado Farm Bureau's one, which can skew the average premiums a bit, but the difference here is still considerable.

That being said, with both companies, you'll see your prices drop significantly by the time you turn 25. For example, average rates for Auto-owners policyholders lower nearly 60% and Colorado Farm Bureau's premiums reduce almost 40% over that time.

Which is the Best Company for Retired Drivers?

Drivers around retirement age generally enjoy some of the most affordable car insurance prices you can find. After all, they've likely been driving for quite some time, which usually lowers their chances of accidents and other infractions that can increase premiums.

So, which carrier offers the best rates to retired drivers? Colorado Farm Bureau gets the edge, with premiums for drivers 65 and older $19 more affordable than the national average for Auto-owners.

Which is the Best Company for Married Drivers?

Did you know that auto insurance rates are typically cheaper for married drivers than they are for those who are single? That's normally because married policyholders tend to own and insure more than one car, which can often earn you a discount.

When it comes to relationship status, Colorado Farm Bureau is the clear winner for single drivers, with prices around $61 per month less expensive than Auto-owners, on average. The advantage for married couples with Colorado Farm Bureau is also obvious, where drivers save over 20% a month.

Auto-owners vs. Colorado Farm Bureau: Average Rates by Gender

Men are statistically more likely than women to get into collisions and get speeding tickets, which means they'll usually end up paying more for insurance than women.

Usually, men see rates more than $10 per month higher with Auto-owners, and about $2 more with Colorado Farm Bureau.

When it comes to the cheapest premiums for each gender, Colorado Farm Bureau comes out on top for both men and women, with average prices $52 less for men and $43 cheaper for women.

Auto-owners or 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.

For most people, car insurance isn't the easiest topic to understand. There are so many different terms and limits that it can make it pretty confusing to find the right policy.

However, most policies that many drivers look at fall into two categories -- liability only (which provides property damage and bodily injury coverage for other drivers and passengers if you cause an accident) and full coverage (which includes two additional coverages -- comprehensive and collision -- in addition to what you get with liability coverage).

If you're looking for state minimum liability limits, Colorado Farm Bureau typically offers significantly cheaper premiums of $71 compared to Auto-owners's $99. When it comes to full coverage policies with similar limits, Colorado Farm Bureau again has the edge, with policies around $65 a month more affordable than Auto-owners, on average.

Is Auto-owners or Colorado Farm Bureau 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.

You'll probably end up paying more with tickets and at-fault collisions on your record, but which of these two carriers offers the lowest rates to drivers with less-than-ideal driving records?

Which Company is Best for Drivers with Speeding Tickets?

Auto-owners policyholders can expect their prices to go up an average of $44 per month if they get a ticket, while Colorado Farm Bureau generally raises premiums about $22 a month, on average.

But Colorado Farm Bureau is normally the less expensive option for drivers both with a speeding ticket and with a clean record. Drivers with a clean record can save around $9 per month and drivers with a ticket can save about $31 a month with Colorado Farm Bureau Insurance.

Which Company is Best for Drivers After an Accident?

Auto-owners drivers who get in a collision can expect to see their rates rise by over $45, while those who have insurance through Colorado Farm Bureau will see around a $25 increase.

Overall, drivers who use Colorado Farm Bureau end up with the cheaper prices after an accident, with monthly prices averaging $137 compared to Auto-Owners Insurance's $168.

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. Auto-owners drivers usually see a 54% increase in their car insurance rates after a DUI charge, while Colorado Farm Bureau will typically raise premiums by about 22%.

Colorado Farm Bureau has the overall most affordable prices for drivers with a DUI on their records at $144 a month, but it's worth noting that Auto-owners's average rates come from 23 states compared to just one for Colorado Farm Bureau, so the data may be skewed slightly.

How does Credit Score Impact Auto-owners and Colorado Farm Bureau Rates?

You may not realized it, but your credit score can come into play when companies determine your monthly bill. This isn't always the case (California, for example, has banned the use of credit score as a rating factor) but it will come into play for quite a few policyholders.

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 company offers the best premiums for drivers with poor, average, or good credit?

Which Company is Best for Drivers with Good Credit?

If you have solid credit, you'll usually find a better deal with Colorado Farm Bureau. Policyholders with "excellent" credit can save just under 15% compared to Auto-owners, and those with "good" scores can also expect to see savings -- around $22 or 17% more affordable every month.

Which Company is Best for Drivers with Bad Credit?

Colorado Farm Bureau typically offers lower rates than Auto-owners when it comes to drivers with bad credit. Drivers with "fair" credit pay about $44 per month less with Colorado Farm Bureau compared to Auto-owners, and those with "poor" scores normally save an average of around $111 monthly.

Is Auto-owners or Colorado 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 auto insurance bill. Generally, those who drive fewer miles will end up with cheaper prices since there's less of a chance of getting into a collision and causing 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 rates for Auto-owners, with drivers who put 6,000 miles on their vehicle each year paying about $1 less every month compared to those who drive 12,000 miles annually. Still, Colorado Farm Bureau is the less expensive option for drivers in both categories.

Auto-owners vs. Colorado Farm Bureau: Compare Rates for Urban, Suburban, and Rural Drivers

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

Colorado Farm Bureau boasts the cheapest average prices for drivers in all types of areas, no matter if they're urban, suburban, or rural.

Drivers in rural ZIP codes see the most affordable rates from both companies, but Colorado Farm Bureau comes out on top with average prices around $85 a month. Colorado Farm Bureau also has more affordable average premiums for policyholders in urban and suburban ZIP codes -- a $50 and $13 a month respective difference when compared to Auto-owners drivers in similar areas.

Auto-owners vs. Colorado Farm Bureau 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 taking advantage of as many insurance discounts as you can.

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

In the table below, we've taken a look at all of the different discounts Auto-owners and Colorado Farm Bureau offer their customers so that you can easily see which company offers the most discounts and, therefore, the biggest savings.

Auto-owners blows Colorado Farm Bureau away when it comes to the sheer amount of discounts available, offering 20 more discounts than Colorado Farm Bureau.

There are a couple discounts both carriers offer, but Auto-owners also offers ABS discounts, advance quote discounts, anti-theft discounts, and more that Colorado Farm Bureau does not.

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

Final Thoughts: Is Auto-owners or Colorado Farm Bureau Best for You?

You've seen the effect certain variables have on your auto insurance and the different discounts companies offer. But, at the end of the day, which insurance carrier is the right company for you and your specific driver profile?

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

• You want to save money on your car insurance after an accident.
• Your neighborhood is in the suburbs.
• You are purchasing your auto insurance with a spouse.

Auto-owners might be best for you if...

• You're planning on moving to another state soon -- Colorado Farm Bureau Insurance is only available in CO.
• You want to save extra money with discounts.

We hope this guide helps you get a good idea of the differences between Auto-owners and Colorado 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 insurance policy is to compare quotes from multiple carriers, not just Auto-owners and Colorado Farm Bureau. Luckily, sites like Compare.com make it easy for you to do just that. Simply enter your ZIP codes below and get free quotes from dozens of top car insurance companies in your area, all in just a few minutes.

Auto-owners vs. Colorado Farm Bureau FAQs

Is Auto-owners or Colorado Farm Bureau cheaper?

Looking just at the national average rates, Colorado Farm Bureau is the cheaper of the two carriers, offering average rates of $132 per month compared to $179 for Auto-owners. That being said, Colorado Farm Bureau won't necessarily be the lowest company for everyone, since there are multiple different factors that are considered when it comes to your auto insurance cost.

Who is better, Auto-owners or Colorado Farm Bureau?

Unfortunately, the only answer we can give you is "it depends.". One carrier is not necessarily "better" for each driver -- it all depends on what your unique insurance profile looks like.

Why do Auto-owners and Colorado Farm Bureau offer me different rates?

Auto insurance companies take a look at several different variables when calculating the prices they charge policyholders. Things like your driving record, where you park your car, gender, age, and sometimes even things like your credit score can all come into play. Both Auto-owners and Colorado Farm Bureau use different formulas, so each one will most likely offer different premiums. The only real way to see which company is the cheapest for you is by comparing personalized quotes from lots of different carriers.

How do I know if Auto-owners or Colorado Farm Bureau is right for me?

The only way to find the car insurance carrier that's right for you is by getting quotes from several companies and finding the one best suited for your individual budget. Luckily, sites like Compare.com do all the hard work for you. Just enter your ZIP code and you'll get free quotes from dozens of the best insurance carriers in your area. That way, you can guarantee you're getting the best rate. And who knows, the best company for you might not be Auto-owners or Colorado 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.