Chubb vs. Texas Farm Bureau: Which Company is the Best Fit for You?

Quick Facts

• In general, Texas Farm Bureau offers significantly cheaper prices than Chubb
• Chubb may help you save more money -- they offer more discounts than Texas Farm Bureau Insurance
• Texas Farm Bureau has less expensive premiums for policyholders who don't have any speeding tickets, DUIs, or at-fault collisions on their record

Chubb or Texas Farm Bureau: Which Company has the Cheapest Car Insurance?

So, you're thinking about switching to a new insurance policy. With so many ads from all sorts of companies offering huge savings, you're probably wondering exactly how much you might be able to save.

You might be considering Chubb or Texas Farm Bureau as your top options, but between the two, which company will offer you more affordable rates?

As you can see, Texas Farm Bureau is quite a bit cheaper than Chubb, with prices averaging $139 a month compared to $291 with Chubb when looking at the national average rates for car insurance.

However, that doesn't mean Texas Farm Bureau will necessarily be less expensive than Chubb for every driver. Auto insurance carriers use a variety of complex algorithms to determine premiums, so depending on how good your credit score is or how clean your driving record is (among a bunch of other factors), you could see wildly different prices from the ones above.

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

Chubb vs. Texas Farm Bureau: Average Car Insurance Rates by State

Chubb and Texas Farm Bureau only compete against each other in Texas, where Texas Farm Bureau offers the cheaper average rates. Texas Farm Bureau drivers tend to pay about $79 per month less on average compared to drivers who use Chubb for their car insurance.

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

Which is the Best Company For Young Drivers?

You might already know that teen drivers typically pay a lot more for car insurance than any group on the road. That's usually because teen 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 premiums, teen drivers can still find ways to save money. Just look at the table above -- where 18-year-old drivers who have Texas Farm Bureau for their insurance pay almost 65% less than those who use Chubb.

That being said, both companies will offer you dramatically lower prices by the time you turn 25. For example, average rates for Chubb policyholders reduce around $350 and Texas Farm Bureau's premiums drop nearly $90 over that time.

Which is the Best Company for Retired Drivers?

When it comes to auto insurance, patience and experience pay off, with drivers around retirement age paying some of the lowest rates out there.

When looking at Chubb and Texas Farm Bureau specifically, which company is best for retired drivers? Texas Farm Bureau gets the edge, with prices for drivers 65 and older $85 more affordable than the national average for Chubb.

Which is the Best Company for Married Drivers?

Married couples tend to get slightly cheaper insurance rates than single policyholders. This usually boils down to married drivers having several vehicles on their policy -- something lots of car insurance carriers will reward with discounts.

For those who are single, the difference in average prices between these two companies is significant, with Texas Farm Bureau premiums coming in at about half of Chubb's. The advantage for married policyholders with Texas Farm Bureau is also obvious, where drivers save almost 55% a month.

Chubb or Texas Farm Bureau: Average Rates by Gender

Because women are less likely to get into accidents and get speeding tickets, they have a lower chance of filing a claim with insurance. So, women tend to pay less for auto insurance than men.

On average, men see prices around 4% per month higher with Chubb, but with Texas Farm Bureau, the difference is closer to 11% a month.

Looking at the data for each carrier specifically, Texas Farm Bureau offers the most affordable average rates for both men and women, with average premiums 50% less for men and 54% cheaper for women.

Chubb vs. Texas 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 can be a complicated subject for most people. There are lots of different coverages that account for several different things. Some protect you and your car, while others only provide coverage for other people's property and health if you cause a collision.

Even so, most policies that drivers look at fall into two categories -- liability coverage (that covers bodily injury and property damage for other drivers and their passengers if you cause an accident) and full coverage (which includes collision and comprehensive coverages that protect your own car, alongside liability).

Looking specifically at state minimum liability limits, Texas Farm Bureau has the significant edge, with average monthly prices coming in at $87. If you want a full coverage policy with the same state minimum limits, Texas Farm Bureau again has the edge, with policies averaging about $192 per month to Chubb's $412.

Is Chubb or Texas Farm Bureau 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.

Accidents and speeding tickets will most likely raise your rates, but is Chubb or Texas Farm Bureau more affordable for drivers with less-than-ideal driving records?

Which Company is Best for Drivers with Speeding Tickets?

Policyholders with Texas Farm Bureau auto insurance policies don't report seeing their premiums increase after getting a ticket, but Chubb policyholders can expect to see their monthly bill increase by around $40.

But Texas Farm Bureau is normally the less expensive option for both drivers who have clean records and those with a recent speeding ticket, offering rates that are $152 and $190 cheaper, respectively, compared to Chubb.

Which Company is Best for Drivers After an Accident?

After an accident, drivers who have their car insurance through Chubb can expect to see about an $67 -- or around 23% -- rise in their insurance prices. Drivers who use Texas Farm Bureau for their auto insurance will see a monthly bill about $43 (or 38%) more expensive after reporting a collision to their car insurance company.

At the end of the day, the more affordable premiums come from Texas Farm Bureau, with average rates coming in at $114 compared to Chubb's $290.

Which Company is Best for Drivers with a DUI?

If you get a DUI charge on your record, it's probably going to cost you more than a simple ticket or even an accident. Texas Farm Bureau drivers usually see a 76% climb in their auto insurance premiums after a DUI charge, while Chubb will generally increase prices by around 43%.

But if you end up with a DUI charge and are looking for more affordable premiums, Texas Farm Bureau tends to be cheaper for the average driver, with monthly premiums coming in at about $300 to Chubb's $389.

How does Credit Score Impact Chubb and Texas Farm Bureau Rates?

Did you know many insurance carriers take into account your credit score when determining rates? This isn't true for everyone (for example, Hawaii and Michigan are two states that ban the practice entirely), but it might come into play for quite a few drivers.

The reasoning auto insurance companies use is that policyholders with bad credit will be less likely to pay their bills on time; so normally, they'll be asked to pay more, while those with good credit will be rewarded with less expensive prices.

So, which carrier offers the best rates for drivers with good, average, or poor credit?

Which Company is Best for Drivers with Good Credit?

If you have great credit, Texas Farm Bureau will generally reward you the most. For policyholders with "excellent" credit scores, Texas Farm Bureau comes in nearly 62.8 cheaper. Drivers with "good" credit scores typically save around 45% with Texas Farm Bureau compared to average premiums from Chubb.

Which Company is Best for Drivers with Bad Credit?

Texas Farm Bureau typically offers lower prices than Chubb when it comes to drivers with less-than-perfect credit. Drivers with "fair" credit pay about 36% a month less with Texas Farm Bureau compared to Chubb, and those with "poor" scores usually save an average of around 57% per month.

Is Chubb or Texas 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 how much car insurance carriers will charge for coverage? Normally, the more milage you put on your vehicle each year, the more you can expect to pay for insurance.

As you can see in the table above, annual mileage doesn't have much of an impact on how much Texas Farm Bureau charges. However, there's a small difference in monthly rates for Chubb, with policyholders who drive 6,000 miles every year paying about $10 less each month compared to those who drive 12,000 miles yearly. Still, for drivers in both categories, Texas Farm Bureau is the less expensive company.

Chubb or Texas Farm Bureau: Compare Rates for Urban, Suburban, and Rural Drivers

Where you live can play a substantial role in how much you pay for car insurance. Generally, drivers who live in heavily-populated urban areas will pay quite a bit more than rural policyholders due to the number of cars that are on the roads where they live.

Texas Farm Bureau boasts the most affordable average rates for drivers in all types of areas, no matter if they're urban, suburban, or rural.

If you live in a rural area, you can expect to pay around $132 monthly with Texas Farm Bureau and $252 with Chubb. Drivers in suburban ZIP codes pay a monthly rate of about $128 with Texas Farm Bureau compared to $260 with Chubb. In urban areas, Texas Farm Bureau's average prices are around $158 while Chubb offers premiums about $360.

Chubb vs. Texas Farm Bureau Discounts

No matter 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 you can. That's where insurance discounts comes into play.

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

Luckily, we did the hard work for you and looked at all of the different discounts Chubb and Texas Farm Bureau offer their customers so that you can easily see which company offers the most discounts and see which ones you might be able to take advantage of.

Chubb blows Texas Farm Bureau away when it comes to the sheer amount of discounts available, offering nine more discounts than Texas Farm Bureau.

Both companies offer many of the same discounts -- like discounts for getting driver training, multi-policy discounts, and passive restraint discounts -- but Chubb also offers discounts for ABS, anti-theft, defensive driver, and more.

On the other hand, Texas Farm Bureau has a few proprietary discounts of their own for things like academic discounts, good driving discounts, and multi-car discounts.

Final Thoughts: Is Chubb or Texas Farm Bureau Best for You?

So, we've broken down the average prices for many of the variables car insurance carriers look at, and we've shown you all the discounts each carrier offers. That's all well and good, but at the end of the day, which company is the right fit for you?

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

• Your driving record includes a DUI charge.
• You live in an suburban area.
• You drive fewer than 6,000 miles annually.

Chubb might be best for you if...

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

Hopefully, this guide helps you get a better idea of the difference between Chubb and Texas Farm Bureau. We also hope we've given you the information you need to make the best decision when it comes to your insurance.

At the end of the day, the sure-fire way to make sure you're getting the best deal on your auto insurance policy is to compare quotes from a handful of companies, not just Chubb and Texas Farm Bureau. Luckily, sites like Compare.com make it easy for you to do just that. Simply enter your ZIP codes below and get multiple quotes from some of the best car insurance carriers in your area, all for free.

Chubb vs. Texas Farm Bureau FAQs

Is Chubb or Texas Farm Bureau cheaper?

Texas Farm Bureau is the more affordable of the two companies when looking at national average premiums, with policies averaging $139 per month with Texas Farm Bureau and $291 for Chubb. That being said, that doesn't mean Texas Farm Bureau will be the lowest company for every driver, since there are a variety of different factors that are considered when it comes to your insurance cost.

Who is better, Chubb or Texas Farm Bureau?

Unfortunately, the real answer is "it depends.". One carrier is not necessarily "better" for everyone -- it all boils down to your unique auto insurance profile.

Why do Chubb and Texas Farm Bureau offer me different rates?

Insurance carriers use many different variables when calculating the rates they charge. Factors such as age, where you call home, your driving record, gender, and sometimes even things like your credit score can all come into play. Both Chubb and Texas Farm Bureau calculate premiums using different variables, so it's likely they'll offer different prices. The best way to determine which company is the cheapest for you is by comparing personalized quotes from many different companies.

How do I know if Chubb or Texas Farm Bureau is right for me?

The only way to find the auto insurance carrier that's right for you is by getting quotes from several 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 quotes from dozens of your local top car insurance companies 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 Chubb or Texas Farm Bureau 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.