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

Quick Facts

• Based on national averages for auto insurance, Auto-owners offers significantly less expensive rates than Farm Bureau
• Auto-owners tends to be a much cheaper option for residents of urban areas
• Farm Bureau offers more affordable premiums for residents in Michigan

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

So, you're thinking about switching your auto insurance. With so many ads from all sorts of companies offering large discounts, you're probably wondering exactly how much you might be able to save.

You've maybe even narrowed it down to Auto-owners or Farm Bureau, but which carrier will save you the most?

Looking at the national average rates for both companies, Auto-owners has average rates that are about 50% per month more affordable than those from Farm Bureau.

Even so, Auto-owners may not be the cheapest or best option for each driver out there. After all, insurance carriers can offer drastically different rates to each driver depending on rating factors like your credit score, your driving record, your age, or even where you call home (among other things), so rates could differ drastically from person to person.

Luckily, we've broken down average premiums from both Auto-owners and Farm Bureau by many different rate factors, so read on to find out which company is the best for you.

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

Auto-owners and Farm Bureau only compete against each other in Michigan, where Auto-owners offers the cheaper average prices. For Michigan residents, Auto-owners offers car insurance for $244 per month on average. Farm Bureau's average rates come out to be over 40% more expensive, at $343 a month.

That being said, there are plenty of other factors that go into your insurance cost than just where you call home. Keep reading to find out more.

Which is the Best Company For Young Drivers?

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

But still, even with seemingly sky-high prices, teen drivers can still find ways to save money. For example, 18-year-old drivers pay an average of more than $90 less a month by choosing Auto-owners over Farm Bureau. It's worth noting that Auto-owners offers car insurance in 23 different states compared to Farm Bureau's one, which can skew the average premiums a bit, but the difference here is still considerable.

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

Which is the Best Company for Retired Drivers?

Drivers around retirement age typically enjoy some of the lowest auto insurance rates you can find. After all, they've likely been driving for quite some time, which normally decreases their chances of accidents and other infractions that can increase premiums.

So, which carrier offers the best prices to retired drivers? Auto-owners gets the edge here, with average rates coming in at around $133 monthly compared to Farm Bureau's $290.

Which is the Best Company for Married Drivers?

Single policyholders tend to get offered slightly more expensive insurance prices than married policyholders. This usually boils down to married drivers having more than one car on their policy -- something lots of auto insurance carriers will reward with discounts.

When it comes to relationship status, Auto-owners is the clear winner for single drivers, with premiums about $150 per month cheaper than Farm Bureau, on average. The advantage for married couples with Auto-owners is also obvious, where drivers save nearly $200 a month.

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

Men are statistically more likely than women to get pulled over for speeding or get into an accident, which means they'll generally end up paying more for car insurance than women.

Men typically pay around 6% more per month than women with Auto-owners; women and men get the same monthly rates with Farm Bureau.

Looking at overall affordability, Auto-owners comes out on top for both men and women. On average, women save about $169 a month and men save about $158 with Auto-owners compared to the average Farm Bureau policyholder.

Auto-owners 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.

Insurance isn't the easiest topic to understand. There are a bunch of different coverages that account for a variety of different things. Some protect you and your vehicle, while others only provide coverage for other people's property and health if you cause a collision.

The two most common policies that many drivers look at fall into two categories -- liability only (which provides property damage and bodily injury coverage for other drivers if you cause an accident) and full coverage (which normally refers to having comprehensive and collision coverages alongside liability coverage).

If you're looking for state minimum liability insurance, Auto-owners usually offers significantly more affordable premiums of $99 compared to Farm Bureau's $218. When it comes to full coverage policies with similar limits, Auto-owners again has the edge, with policies around $200 per month less expensive than Farm Bureau, on average.

Is Auto-owners or Farm Bureau Better for Drivers with Spotty Records?

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

It's no secret secret that at-fault collisions and tickets lead to higher premiums, but which company -- Auto-owners or Farm Bureau -- has the cheapest rates for drivers with spotty records?

Which Company is Best for Drivers with Speeding Tickets?

Auto-owners policyholders can expect their prices to go up an average of $44 a month if they get a ticket, while Farm Bureau normally raises premiums about $94 per month, on average.

However, Auto-owners tends to offer the best prices for both drivers who have clean records and those with a recent speeding ticket, offering prices that are $81 and $131 cheaper, respectively, compared to Farm Bureau Insurance of Michigan.

Which Company is Best for Drivers After an Accident?

Auto-owners drivers who get in a collision can expect to see their rates climb by just under 30%, while those who have insurance through Farm Bureau will see around a 15% increase.

Overall, the less expensive prices come from Auto-owners, with monthly premiums averaging $168 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 insurance bill -- generally a lot more than an accident or ticket. On average, Farm Bureau will climb your rates about 68% after a DUI, while Auto-owners's average premiums increase by just under 55%.

Auto-owners has the overall lowest prices for drivers with a DUI on their records at $264 a month, but it's worth noting that Auto-owners's average rates come from 23 states compared to just one for Farm Bureau, so the data may be skewed slightly.

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

Did you know that many car insurance carriers take into account your credit score when calculating rates? Certain states and companies do not allow for credit score to be used as a rating factor, but it does affect quite a few policyholders 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, drivers with bad credit will often be forced to pay more.

So, which carrier offers the best prices 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 companies from using credit scores to calculate rates. And since Farm Bureau is only available in Michigan, there is no data available on how credit score impacts premiums because it's not a factor at all. This may be a good thing, since Auto-owners and other carriers 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-stellar credit and live in Michigan, the good news is it won't cost you extra when it comes to car insurance. As you can see, poor credit can really cost Auto-owners drivers in other states, but no need to worry if you live in Michigan.

Is Auto-owners or Farm Bureau Better for Drivers who Work from Home or Have Short Commutes?

Did you know that the amount of time you spend in your car have a large impact on your monthly premiums? That's because the more miles you drive, the more likely you are to get into a collision and cause an insurance claim.

For both drivers who put 6,000 miles on their vehicles annually, as well as those who average twice that figure, Auto-owners tends to be the more affordable option. Auto-owners average prices for drivers with 6,000 annual miles come in over $150 cheaper than Farm Bureau. Those who drive 12,000 miles yearly can expect to pay more than $150 less with Auto-owners over Farm Bureau.

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

Where you live can play a sizable role in how much you pay for auto insurance. Typically, those who live in urban areas will pay more than drivers in rural areas because there are a lot more vehicles on the roads in those areas.

Auto-owners tends to offer the most affordable rates for drivers in all types of areas, no matter if they're urban, suburban, or rural.

Policyholders in rural ZIP codes see the cheapest prices from both companies, but Auto-owners comes out on top with average premiums around $164 per month. Auto-owners also has more affordable average prices for drivers in urban and suburban ZIP codes -- a $252 and $180 a month respective difference when compared to Farm Bureau policyholders in similar areas.

Auto-owners vs. Farm Bureau Discounts

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

But where do you even start? With what seems like a million different discounts out there, it may be difficult to find all the ones you can take advantage of.

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

Auto-owners knocks Farm Bureau out of the park when it comes to the sheer number of discounts available, offering 19 more discounts than Farm Bureau.

There are a couple discounts both carriers offer, but Auto-owners also offers ABS discounts, company car discounts, COVID-19 relief discount, 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 Auto-owners or Farm Bureau Best for You?

You've seen the role certain factors have on your car insurance and the different discounts companies offer. That's all well and good, but at the end of the day, which company is the right carrier for you and your specific driver profile?

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

• You value the experience that comes with a large national insurance carrier.
• You want basic car insurance coverage at the state minimum limits.
• You drive often but have a short commute.

Farm Bureau might be best for you if...

• You like the personalized touch of a small, local company.

We hope this guide helps you get a better idea of the difference between Auto-owners and Farm Bureau. We also hope we've given you the information you need to make the best 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 car insurance policy is to compare quotes from several carriers, not just Auto-owners and Farm Bureau. Luckily, Compare.com does all the hard work for you. Just enter your ZIP code below and get free quotes from dozens of the top auto insurance companies in your area, all in just a few minutes.

Auto-owners vs. Farm Bureau FAQs

Is Auto-owners or Farm Bureau cheaper?

Looking just at the national average rates, Auto-owners is the less expensive of the two carriers, offering average rates of $179 per month compared to $343 for Farm Bureau. That being said, Auto-owners won't necessarily be the most affordable carrier for everyone, since there are several different variables (things like age, gender, driving record, etc.) that play a role in how much you pay.

Who is better, Auto-owners or Farm Bureau?

Unfortunately, the only answer we can give you is "it depends.". No single company is "better" for every driver -- it all comes down to what your unique insurance profile looks like.

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

Car insurance companies take a look at several different factors when determining the premiums they charge drivers. Variables like your driving record, age, gender, where your home is, and sometimes even things like your credit score can all come into play. Both Auto-owners and Farm Bureau calculate rates using different formulas, so each one will most likely offer different premiums. The only real way to see which carrier is the lowest for you is by comparing personalized quotes from lots of different carriers.

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

The only way to find the insurance company 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, 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 carriers in your area. That way, you can guarantee you're getting the most affordable rate. And who knows, the best carrier for you might not be Auto-owners 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.