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

Quick Facts

• Based on national averages for auto insurance, Cameron Mutual offers significantly cheaper rates than Farm Bureau Financial Services
• Cameron Mutual tends to be a much more affordable option for drivers with a DUI charge on their record
• Farm Bureau Financial Services offers more discounts than Cameron Mutual Insurance Company

Cameron Mutual vs. Farm Bureau Financial Services: Which Company has the Cheapest Car Insurance?

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

You might have narrowed your search down to Cameron Mutual or Farm Bureau Financial Services, but which carrier will save you the most?

Looking at the national average rates for both companies, Cameron Mutual is quite a bit cheaper than Farm Bureau Financial Services, with premiums averaging $124 per month compared to $170 with Farm Bureau Financial Services.

However, Cameron Mutual may not be the most affordable or best option for every driver out there. After all, car insurance carriers can offer drastically different rates to each driver depending on rating factors like your age, where you call home, your driving record, or even your credit score (among other things). So, at the end of the day, rates from every carrier will differ quite a bit from person to person.

Wanting to know if Cameron Mutual or Farm Bureau Financial Services 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.

Cameron Mutual or Farm Bureau Financial Services: Average Car Insurance Rates by State

Cameron Mutual and Farm Bureau Financial Services only compete against each other in one states, with Farm Bureau Financial Services offering less expensive prices to the average driver in all of them. Iowa has the most noticable difference, where Farm Bureau Financial Services premiums are more affordable than auto insurance rates at Cameron Mutual.

But there's more to insurance than just the state you live in. As we mentioned above, there's a lot of things that go into how auto insurance companies calculate your prices. Continue reading to learn more about how other factors will affect your rates.

Which is the Best Company For Young Drivers?

Young drivers -- especially teens -- typically pay a lot for car insurance compared to older drivers. The reason is that young, inexperienced drivers are statistically much more likely to cause collisions and other accidents that will result in an insurance claim.

But still, even with seemingly sky-high rates, teen drivers can still find ways to save money. For example, 18-year-old drivers pay an average of nearly $55 less a month by choosing Cameron Mutual over Farm Bureau Financial Services.

That being said, with both carriers, you'll see your premiums lower significantly once you turn 25. Farm Bureau Financial Services offers the steepest drop, with 25-year-olds paying less than half what 18-year-old drivers are charged. That being said, Cameron Mutual still has the lowest prices at $123 per month.

Which is the Best Company for Retired Drivers?

Once you approach retirement age, you'll normally enjoy the cheapest insurance rates out there. You've been on the road for years, and all that experience pays off when it comes to your monthly prices for car insurance.

So, which carrier offers the best premiums to retired drivers? Cameron Mutual gets the edge, with rates for drivers 65 and older $48 cheaper than the national average for Farm Bureau Financial Services.

Which is the Best Company for Married Drivers?

Married drivers tend to get slightly less expensive auto insurance premiums than those who are single. This usually boils down to married couples having more than one car on their policy -- something a lot of insurance companies will reward with discounts.

When it comes to relationship status, Cameron Mutual is the clear winner for single drivers, with prices about $47 per month cheaper than Farm Bureau Financial Services, on average. The advantage is also clear for married policyholders - Cameron Mutual offers the lowest average premiums.

Cameron Mutual vs. Farm Bureau Financial Services: Average Rates by Gender

Women tend to pay less for auto insurance than men. This is because women are less likely to get speeding tickets and get into accidents, which lowers the chances of an insurance claim.

Men generally pay almost $15 a month more than women with Cameron Mutual, but surprisingly, with Farm Bureau Financial Services, men usually pay around $5 per month less than women.

Looking at the data for each company specifically, Cameron Mutual comes out on top for both men and women, with average rates 22% less for men and 32% cheaper for women.

Cameron Mutual or 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.

Insurance isn't the easiest topic to understand. 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.

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

If you're looking for state minimum limits for liability insurance, Cameron Mutual generally offers significantly more affordable prices of $53 compared to Farm Bureau Financial Services's $87. When it comes to full coverage policies with similar limits, Cameron Mutual again has the edge, with policies about $60 a month less expensive than Farm Bureau Financial Services, on average.

Is Cameron Mutual or Farm Bureau Financial Services Better for Drivers with Spotty Records?

It's no big secret that drivers who are accident-free get better deals on their car insurance. But even if you have a spotty record, you can still find plenty of ways to save some cash on your monthly bill.

At-fault accidents and tickets will most likely raise your rates, but is Cameron Mutual or Farm Bureau Financial Services cheaper for drivers with spotty records?

Which Company is Best for Drivers with Speeding Tickets?

Drivers with Cameron Mutual insurance policies don't report seeing their premiums increase after getting a ticket, but Farm Bureau Financial Services policyholders can expect to see their monthly bill increase by around $25.

But Cameron Mutual is typically the less expensive option for both drivers who have clean records and those with a recent ticket -- their rates are around 9% more affordable for drivers with clean records and 25% cheaper for those with a ticket.

Which Company is Best for Drivers After an Accident?

After an accident, drivers who have their auto insurance through Cameron Mutual can expect to see about an $14 -- or around 11% -- increase in their car insurance prices. Drivers who use Farm Bureau Financial Services for their auto insurance will see a monthly bill about $66 (or 35%) more expensive after reporting an accident to their insurance carrier.

Overall, the more affordable premiums come from Cameron Mutual, with monthly prices averaging $124 compared to Farm Bureau Financial Services's $187.

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 speeding ticket when it comes to your car insurance bill. Farm Bureau Financial Services drivers usually see a 46% climb in their insurance rates after a DUI charge, while Cameron Mutual will usually increase prices by around 28%.

If you have a DUI on your record and are looking for more affordable premiums, Cameron Mutual tends to be the much less expensive option with average rates of $152 a month compared to $226 from Farm Bureau Financial Services.

How does Credit Score Impact Cameron Mutual and Farm Bureau Financial Services Rates?

Did you know that many auto insurance carriers take into account your credit score when calculating premiums? This isn't always the case (Michigan, for example, has banned the use of credit score as a rating factor) but it will come into play for several policyholders.

Car insurance companies 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.

Looking specifically at Cameron Mutual and Farm Bureau Financial Services, which company has the most affordable prices for policyholders at different credit levels?

Which Company is Best for Drivers with Good Credit?

If you have a great credit score, you'll usually find a better deal with Cameron Mutual. Drivers with "excellent" credit can save just under 35% compared to Farm Bureau Financial Services, and those with "good" scores can also expect to see savings -- about $33 or 24% more affordable each month.

Which Company is Best for Drivers with Bad Credit?

Cameron Mutual typically offers lower rates than Farm Bureau Financial Services when it comes to drivers with a below average credit score. Drivers with "fair" credit pay around $34 per month less with Cameron Mutual compared to Farm Bureau Financial Services, and those with "poor" scores typically save an average of about $75 monthly.

Is Cameron Mutual or Farm Bureau Financial Services Better for Drivers who Work from Home or Have Short Commutes?

How much you drive can have a sizable impact on your monthly prices. That's because the more miles you put on your vehicle each year, the more 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 Cameron Mutual charges. However, there's a small difference in monthly premiums for Farm Bureau Financial Services, with policyholders who drive the least paying around $11 less every month compared to those who drive 12,000 miles annually. Still, Cameron Mutual is the cheaper option for drivers in both categories.

Cameron Mutual vs. Farm Bureau Financial Services: Compare Rates for Urban, Suburban, and Rural Drivers

Where you call home can have a large impact on your monthly insurance cost. Generally, those who live in rural areas will pay less than policyholders in urban areas because there are a lot fewer cars on the roads in those areas.

When comparing these two carriers side-by-side, Cameron Mutual normally comes out as the cheapest option for drivers in all areas, regardless of if they're urban, suburban, or rural.

For drivers in urban ZIP codes, Cameron Mutual offers rates about $134 a month compared to Farm Bureau Financial Services's $196. People who live in suburban ZIP codes can expect to pay around $122 a month for Cameron Mutual and $159 for Farm Bureau Financial Services. Lastly, those in rural areas tend to get the most affordable prices from both companies, with average monthly rates coming in at $116 and $155 for Cameron Mutual and Farm Bureau Financial Services respectively.

Cameron Mutual vs. Farm Bureau Financial Services Discounts

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

But where do you even start? With so many discounts out there, it may seem difficult to find all the of the ones you're eligible for.

In the section below, we've taken a look at all of the different discounts Cameron Mutual and Farm Bureau Financial Services offer their customers so that you can find the one that has the most discounts and, therefore, the biggest savings.

Overall, Farm Bureau Financial Services has advantage when it comes to total number of discounts. Cameron Mutual offers a grand total of six discounts, while Farm Bureau Financial Services has nine.

A couple of those are overlapping for things like discounts for being a defensive driver and discounts for being a good student. Farm Bureau Financial Services also offers anti-theft discounts, good driving discounts, life policy discounts, and more that Cameron Mutual does not.

On the flip side, Cameron Mutual has a couple unique discounts of its own -- education discounts, passive restraint discounts, renewal discounts, and more.

Final Thoughts: Is Cameron Mutual or Farm Bureau Financial Services Best for You?

So, we've broken down the average premiums for many of the variables auto insurance carriers look at, and we've shown you all the discounts each company offers. But, when it comes down to it, which carrier is the right company for you and your specific needs?

Cameron Mutual might be best for you if....

• You're single and purchasing car insurance by yourself.
• You're looking for more protection with "full coverage" auto insurance.
• You are over 65 years old and want to save some money on your insurance.

Farm Bureau Financial Services might be best for you if...

• You're looking for the company with the most discounts.

We hope this guide helps you get a better idea of the difference between Cameron Mutual 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 sure-fire way to make sure you're getting the best deal on your car insurance policy is to compare quotes from several companies, not just Cameron Mutual and Farm Bureau Financial Services. Luckily, sites like Compare.com make it easy for you to do just that. Just enter your ZIP code below and get multiple quotes from some of the best insurance carriers in your area, all for free.

Cameron Mutual vs. Farm Bureau Financial Services FAQs

Is Cameron Mutual or Farm Bureau Financial Services cheaper?

Looking just at the national average rates, Cameron Mutual is the less expensive of the two companies, offering average rates of $124 per month compared to $170 for Farm Bureau Financial Services. Even so, Cameron Mutual won't necessarily be the lowest carrier for everyone, since there are a variety of different factors (things like driving record, age, gender, etc.) that play a role in how much you pay.

Who is better, Cameron Mutual or Farm Bureau Financial Services?

Unfortunately, the answer truly is "it depends.". No one company is "better" for everyone -- it all depends on what your unique car insurance profile looks like.

Why do Cameron Mutual and Farm Bureau Financial Services offer me different rates?

Auto insurance carriers take a look at lots of different variables when determining the premiums they charge policyholders. Factors like gender, age, where you park your vehicle, your driving record, and sometimes even things like your credit score can all come into play. Both Cameron Mutual and Farm Bureau Financial Services calculate prices using different formulas, so each one will most likely offer different premiums. The only real way to see which carrier is the cheapest for you is by comparing personalized quotes from a range of different companies.

How do I know if Cameron Mutual or Farm Bureau Financial Services is right for me?

The only way to find the insurance company that's right for you is by getting quotes from multiple carriers 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 information once and you'll get free quotes from dozens of the best car insurance companies in your area. That way, you can guarantee you're getting the most affordable price. And who knows, the best carrier for you might not be Cameron Mutual or Farm Bureau Financial Services 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.