Cincinatti Financial vs. Kentucky Farm Bureau: Which Company is the Best Fit for You?

Quick Facts

• Based on national averages for car insurance, Cincinatti Financial offers slightly less expensive rates than Kentucky Farm Bureau
• Cincinatti Financial offers cheaper average premiums for residents of urban areas
• Kentucky Farm Bureau offers more affordable prices for people who are single and purchasing insurance by yourself

Cincinatti Financial vs. Kentucky Farm Bureau: Which Company has the Cheapest Car Insurance?

Are you in the market for a new insurance policy? With so many ads from all sorts of companies offering big discounts, you're probably wondering exactly how much you might be able to save.

You might have narrowed your search down to Cincinatti Financial or Kentucky Farm Bureau as potential options, but between the two, which one will offer you more affordable premiums?

Looking at the national average rates for both companies, Cincinatti Financial is about $1 per month less expensive than Kentucky Farm Bureau.

Even so, that doesn't necessarily mean Cincinatti Financial will be the more affordable option for every single driver. After all, auto insurance carriers 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 rates could differ drastically from person to person.

Wanting to know if Cincinatti Financial or Kentucky Farm Bureau is really the right company for you? Keep on reading to see how average prices can change based on all of the factors we've mentioned above.

Cincinatti Financial or Kentucky Farm Bureau: Average Car Insurance Rates by State

Cincinatti Financial and Kentucky Farm Bureau only compete against each other in Kentucky, where Kentucky Farm Bureau offers the cheaper average rates. For Kentucky residents, Kentucky Farm Bureau offers car insurance for $201 a month on average. Cincinatti Financial's average premiums come out to be more expensive, at $218 monthly.

There's a lot more that goes into your insurance payment than just where you live. Read on to learn more.

Which is the Best Company For Young Drivers?

You might already know that teen drivers normally pay a lot more for car insurance than any other group of drivers. It's typically because young, inexperienced drivers are statistically much more likely to get into accidents since they have less experience on the roads.

However, that doesn't mean that teen drivers have to just accept sky-high auto insurance prices. As you can see above, teens who use Kentucky Farm Bureau save nearly $45 a month compared to those who use Cincinatti Financial.

But with both companies, you'll see your premiums reduce significantly by the time drivers turn 25. Kentucky Farm Bureau offers the steepest reduction, with 25-year-olds paying less than a third of what 18-year-old drivers are charged. Cincinatti Financial's average rates drop more than 60% during that same period.

Which is the Best Company for Retired Drivers?

Once you approach retirement age, you'll generally enjoy the lowest insurance prices you can find. You've been on the road for years, and all that experience pays off when it comes to your monthly premiums for car insurance.

But who has the best rates for retired drivers between Cincinatti Financial and Kentucky Farm Bureau? Cincinatti Financial gets the edge, with prices for drivers 65 and older $16 cheaper than the national average for Kentucky Farm Bureau.

Which is the Best Company for Married Drivers?

Married policyholders tend to get slightly less expensive auto insurance rates than single policyholders. That's because policies for married drivers usually cover more than one car, which quite a few carriers will offer you a discount for.

When it comes to relationship status, Kentucky Farm Bureau is the winner for those who are single, with premiums around $5 per month more affordable than Cincinatti Financial, on average.

Cincinatti Financial vs. Kentucky Farm Bureau: Average Rates by Gender

Because men are more likely to get into collisions and get tickets, they have a higher chance of filing a claim with insurance. Therefore, insurance companies will often charge men more than women.

Usually, women see prices about 6% a month less with Cincinatti Financial, and around 7% less with Kentucky Farm Bureau when compared to their male counterparts.

Looking at overall affordability, Cincinatti Financial offers the cheapest average rates for both men and women, with average premiums $2 less for men and $0 cheaper for women.

Cincinatti Financial or Kentucky 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. Everyone needs insurance, but there are so many different terms and limits that it can be hard to find the right policy.

That being said, most policies end up falling into two different types of coverage -- liability only (that covers property damage and bodily injury for other drivers and their passengers if you cause an accident) and full coverage (which includes two additional coverages -- comprehensive and collision -- in addition to liability).

In this case, Cincinatti Financial offers the lowest average rates for state minimum limits for liability insurance, while Kentucky Farm Bureau has the edge for full coverage policies with similar coverage limits. Drivers looking for basic state minimum coverage can save around $15 with Cincinatti Financial, while full coverage comes out to be about $10 cheaper with Kentucky Farm Bureau.

Is Cincinatti Financial or Kentucky Farm Bureau Better for Drivers with Spotty Records?

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

Tickets and accidents will most likely raise your prices, but is Cincinatti Financial or Kentucky Farm Bureau less expensive for drivers with less-than-perfect records?

Which Company is Best for Drivers with Speeding Tickets?

Policyholders with Kentucky Farm Bureau insurance policies don't report seeing their premiums increase after getting a ticket, but Cincinatti Financial policyholders can expect to see their monthly bill increase by.

Even so, Cincinatti Financial has cheaper prices for drivers in both categories -- their rates are around 16% more affordable for drivers with clean records and 1% less expensive for those with a ticket.

Which Company is Best for Drivers After an Accident?

Both carriers will increase premiums pretty significantly if you get into an at-fault accident with Cincinatti Financial climbing by over $90. Kentucky Farm Bureau has a less extreme climb, but you can still expect to pay just under $10 more than you were prior to your first collision.

Overall, drivers who use Kentucky Farm Bureau end up with the cheaper prices after an accident, with monthly rates averaging $154 compared to Cincinatti Financial's $214.

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 a collision. For example, Kentucky Farm Bureau increases average premiums by more than $200 per month -- that's just under a 60% increase.

If you have a DUI on your record and are looking for more affordable prices, Cincinatti Financial tends to be the much cheaper option with average rates of $320 per month compared to $359 from Kentucky Farm Bureau.

How does Credit Score Impact Cincinatti Financial and Kentucky Farm Bureau Rates?

In many cases, your credit score can be used as one of the factors to calculate your monthly auto insurance premiums. 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 many drivers.

The reasoning car insurance companies use is that policyholders with good credit will be more likely to pay their bills on time; so they'll reward them with cheaper prices, while those with poor credit will generally be forced to pay more.

Looking specifically at Kentucky Farm Bureau and Cincinatti Financial, which company has the most affordable rates for drivers 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 Kentucky Farm Bureau. Policyholders with "excellent" credit can save nearly 35% compared to Cincinatti Financial, and those with "good" scores can also expect to see savings -- around $45 or 26% more affordable every month.

Which Company is Best for Drivers with Bad Credit?

If you have less-than-stellar credit, it can be somewhat of a toss-up as far as which company offers you the best prices. Drivers with "fair" credit pay about $13 less with Kentucky Farm Bureau than Cincinatti Financial, but those whose credit is considered "poor" have it flipped -- saving around $110 a month with Cincinatti Financial.

Is Cincinatti Financial or Kentucky 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 considerable impact on your monthly rates? Normally, those who drive less will end up with cheaper premiums since there's less of a chance of getting into an accident 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 Cincinatti Financial charges. However, there's a small difference in monthly prices for Kentucky Farm Bureau, with policyholders who drive 6,000 miles yearly paying about $9 less each month compared to those who drive 12,000 miles annually.

Cincinatti Financial vs. Kentucky Farm Bureau: Compare Rates for Urban, Suburban, and Rural Drivers

We've already mentioned how your home state can play a role in how much you pay for auto insurance, but the type of area you live in can have a big impact as well. Usually, 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.

Looking at these carriers side-by-side, Cincinatti Financial tends to offer the lowest option for drivers in rural and urban areas, while Kentucky Farm Bureau wins in suburban areas.

For drivers in urban ZIP codes, Cincinatti Financial's average prices are around $220 per month compared to Kentucky Farm Bureau's $230. People in suburban areas pay about $168 with Kentucky Farm Bureau compared to Cincinatti Financial's $197 a month. Those in rural areas can expect to pay around $182 monthly with Cincinatti Financial compared to Kentucky Farm Bureau's $203.

Cincinatti Financial vs. Kentucky 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 challenging to find all the ones you can take advantage of.

In the section below, we've compared all of the different discounts offered by Cincinatti Financial and Kentucky Farm Bureau so that you can easily see which company offers the most discounts and see which ones you might be able to take advantage of.

Overall, Kentucky Farm Bureau has a slight advantage when it comes to total number of discounts. Cincinatti Financial offers a grand total of 10 discounts, while Kentucky Farm Bureau has 11.

A couple of those are overlapping for things like anti-theft discounts, discounts for being a good student, and multi-policy discounts. Kentucky Farm Bureau also offers ABS discounts, driver training discounts, good driving discounts, and more that Cincinatti Financial does not.

On the flip side, Cincinatti Financial has a couple unique discounts of its own -- advance quote discounts, COVID-19 relief discount, group discounts, and more.

Final Thoughts: Is Cincinatti Financial or Kentucky Farm Bureau Best for You?

So, you've seen how different variables can affect your car insurance rates. We've shown you all the discounts each company offers, too. That's all well and good, but when it comes down to it, which insurance carrier is the right carrier for you and your specific needs?

Cincinatti Financial might be best for you if....

• You have received a ticket within the last few years.
• You're married and plan to have both of your names on the vehicle's auto insurance policy.

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

• You already have a great credit score.
• Your home is located in the suburbs.
• You're buying insurance for a teen and looking for a wallet-friendly option.

We hope this guide has ben a valuable resource as you compare Cincinatti Financial and Kentucky Farm Bureau and that you can now make a more informed decision when it comes to your car insurance.

But, at the end of the day, there's only one way to know for sure that you're getting the best possible deal on insurance -- comparing quotes from a handful of companies, not just Cincinatti Financial and Kentucky Farm Bureau. Luckily, Compare.com does all the hard work for you. Just enter your ZIP code below and get multiple free quotes from some of the best car insurance carriers in your area, all in just a few minutes.

Cincinatti Financial vs. Kentucky Farm Bureau FAQs

Is Cincinatti Financial or Kentucky Farm Bureau cheaper?

Looking just at the national average premiums, Cincinatti Financial is the less expensive of the two companies, offering average rates of $200 a month compared to $201 for Kentucky Farm Bureau. However, Cincinatti Financial won't necessarily be the most affordable company for every driver, since there are lots of different factors that come into play when it comes to your auto insurance cost.

Who is better, Cincinatti Financial or Kentucky Farm Bureau?

Unfortunately, the answer truly is "it depends.". Neither carrier is "better" for each driver -- it all depends on what your unique insurance profile looks like. For example, Cincinatti Financial offers more affordable prices for drivers with a recent DUI, while Kentucky Farm Bureau is less expensive for drivers with excellent credit.

Why do Cincinatti Financial and Kentucky Farm Bureau offer me different rates?

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

How do I know if Cincinatti Financial or Kentucky 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 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 area information and you'll get free quotes from dozens of the best insurance companies in your area. With those, you can guarantee you're getting the most affordable price. And who knows, the best company for you might not be Cincinatti Financial or Kentucky 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.