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

Quick Facts

• Looking at the national averages for auto insurance, Virginia Farm Bureau offers significantly less expensive prices than Cincinatti Financial
• Cincinatti Financial offers more discounts than Virginia Farm Bureau Insurance
• Virginia Farm Bureau has more affordable premiums for policyholders who don't have any speeding tickets, DUIs, or at-fault accidents on their record

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

So, you're thinking about switching your auto insurance. You've probably seen commercials and billboards from companies offering large discounts, but exactly how much money can you save by switching?

You might be considering Cincinatti Financial or Virginia Farm Bureau as potential options, but which company has cheaper rates for car insurance?

As you can see, Virginia Farm Bureau has average rates that are about 50% per month more affordable than those from Cincinatti Financial when looking at the national average rates for insurance.

However, that doesn't mean Virginia Farm Bureau will necessarily be cheaper than Cincinatti Financial for every driver. Auto insurance companies vary their premiums depending on things like where you live, how old you are, how good your credit score is, how clean your driving record is, and tons of other factors, so prices will vary quite a bit from person to person.

So, if you want to find out which of Cincinatti Financial or Virginia Farm Bureau is really the best for you, keep reading to see average rates for each company broken down by multiple different rate factors.

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

Cincinatti Financial and Virginia Farm Bureau only compete against each other in Virginia, where Virginia Farm Bureau offers the cheaper average prices. For Virginia residents, Virginia Farm Bureau offers car insurance for $101 monthly on average. Cincinatti Financial's average premiums come out to be over 70% more expensive, at $301 a month.

There are plenty of other factors that go into your auto insurance cost than just where you call home. Continue reading to see how other factors will affect your rates.

Which is the Best Company For Young Drivers?

Teen drivers will almost always have the most expensive insurance rates of any group on the road. That's because 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 prices, teen drivers can still find ways to save money. Just look at the table above -- where 18-year-old drivers who have Virginia Farm Bureau for their car insurance pay nearly $300 less than those who use Cincinatti Financial.

But both carriers will offer you dramatically lower premiums once you turn 25. For example, average rates for Cincinatti Financial policyholders decrease more than $300 and Virginia Farm Bureau's prices drop around $100 over that time.

Which is the Best Company for Retired Drivers?

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

So, which carrier offers the best premiums to retired drivers? Virginia Farm Bureau gets the edge here, with average prices coming in at about $91 per month compared to Cincinatti Financial's $122.

Which is the Best Company for Married Drivers?

You may not be aware, but insurance rates tend to be less expensive for married drivers than they are for single drivers. This usually boils down to married policyholders having several cars on their policy -- something lots of auto insurance companies will reward with discounts.

When it comes to relationship status, Virginia Farm Bureau is the clear winner for those who are single, with prices around $127 a month cheaper than Cincinatti Financial, on average. For married couples, the advantage is clear again - Virginia Farm Bureau has the edge when it comes to average premiums.

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

Because men are more likely to get into collisions and get tickets, they have an increased chance of filing a claim with insurance. Therefore, men tend to pay more for car insurance than women.

With Cincinatti Financial, women typically pay about 6% per month less than men, and around 4% less with Virginia Farm Bureau when compared to their male counterparts.

Looking at overall affordability, Virginia Farm Bureau comes out on top for both men and women, with average prices 50% less for men and 49% cheaper for women.

Cincinatti Financial or Virginia 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.

It's no secret that auto insurance can be pretty complicated. There are a range of different coverages that account for several 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.

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 a collision) and full coverage (which includes comprehensive and collision coverages that protect your own vehicle, in addition to what you get with liability coverage).

If you're looking for state minimum liability limits, Virginia Farm Bureau usually offers significantly more affordable premiums of $66 compared to Cincinatti Financial's $106. When it comes to full coverage policies with similar limits, Virginia Farm Bureau again has the edge, with policies about $150 a month less expensive than Cincinatti Financial, on average.

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

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

You'll probably end up paying more with collisions and tickets on your record, but which of these two companies offers the most affordable premiums to drivers with spotty records?

Which Company is Best for Drivers with Speeding Tickets?

Cincinatti Financial policyholders can expect their rates to go up an average of $21 per month if they get a ticket, while Virginia Farm Bureau generally raises prices around $25 a month, on average.

Even so, Virginia Farm Bureau is typically the cheaper option for drivers both with a speeding ticket and with a clean record, offering rates that are 33% and 25% less expensive, respectively, compared to Cincinatti Financial.

Which Company is Best for Drivers After an Accident?

Cincinatti Financial drivers who get in an accident can expect to see their premiums increase by just under 45%, while those who have insurance through Virginia Farm Bureau will see about a 20% increase.

Overall, Virginia Farm Bureau offers the cheapest prices for drivers with an at-fault accident on their records, with monthly rates averaging $105 compared to Cincinatti Financial's $214.

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 -- usually a lot more than a collision or ticket. For example, Cincinatti Financial increases average prices by just under $200 per month -- that's over a 60% increase.

If you have a DUI on your record and are looking for more affordable premiums, Virginia Farm Bureau tends to be the much more affordable option with average rates of $111 a month compared to $320 from Cincinatti Financial.

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

Often times, your credit score can come into play when carriers calculate your monthly bill. This isn't always the case (Michigan, for example, has banned the use of credit score as a rating factor) but it does affect many policyholders out there.

Car insurance companies 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.

Looking at Cincinatti Financial and Virginia Farm Bureau specifically, which one has the lowest premiums for drivers at different credit levels?

Which Company is Best for Drivers with Good Credit?

If you have solid credit, you'll usually find a better deal with Virginia Farm Bureau. Policyholders with "excellent" credit can save more than 55% compared to Cincinatti Financial, and those with "good" scores can also expect to see savings -- around $84 or 49% cheaper every month.

Which Company is Best for Drivers with Bad Credit?

Virginia Farm Bureau typically offers lower prices than Cincinatti Financial when it comes to drivers with bad credit. Drivers with "fair" credit pay about $89 a month less with Virginia Farm Bureau compared to Cincinatti Financial, and those with "poor" scores generally save an average of around $139 per month.

Is Cincinatti Financial or Virginia Farm Bureau Better for Drivers who Work from Home or Have Short Commutes?

How much you drive can have a sizable impact on your monthly rates. Normally, those who drive less will end up with more affordable prices 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 premiums for Virginia Farm Bureau, with policyholders who drive the least paying about $4 less each month compared to those who drive 12,000 miles yearly. Still, Virginia Farm Bureau is the less expensive option for drivers in both categories.

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

Where you call home can have a substantial impact on your monthly auto insurance payment. Typically, if you live in a rural area with fewer cars on the road, you'll pay a little less for insurance, while the opposite is true for people in urban areas.

When comparing these two carriers side-by-side, Virginia Farm Bureau usually comes out as the most affordable option for drivers in every type of area, no matter if it's urban, suburban, or rural.

Drivers in rural ZIP codes see the cheapest rates from both companies, but Virginia Farm Bureau comes out on top with average prices around $78 monthly. Virginia Farm Bureau also has cheaper average premiums for policyholders in urban and suburban ZIP codes -- a $111 and $81 per month respective difference when compared to Cincinatti Financial drivers in similar areas.

Cincinatti Financial vs. Virginia Farm Bureau Discounts

Regardless of why you might be in the market for a new car insurance policy, you're always going to want to save as much money as possible, and the best way to do that is by utilizing as many insurance discounts as you can.

But with what seems like a million different discounts out there, it can be hard 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.

In the section below, we've broken down all of the different discounts offered by both Cincinatti Financial and Virginia Farm Bureau so that you can easily see which company offers the most discounts and, therefore, the biggest savings.

Overall, Cincinatti Financial comes out ahead with 10 discounts to Virginia Farm Bureau's eight.

There are a couple discounts both carriers offer, but Cincinatti Financial also offers advance quote discounts, anti-theft discounts, COVID-19 relief discount, and more that Virginia Farm Bureau does not.

On the flip side, Virginia Farm Bureau has a couple unique discounts of its own -- ABS discounts, distant student discounts, discounts for getting driver training, and more.

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

So, you've seen how different variables can affect your auto insurance rates. We've broken down the different discounts each carrier offers, too. But, when it comes down to it, which company is the right fit for you?

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

• You don't have any speeding tickets, DUIs, or at-fault accidents on your record.
• You're looking for more protection with "full coverage" car insurance.
• You drive often but have a short commute.

Cincinatti Financial might be best for you if...

• You care about discounts (Cincinatti Financial offers the most).

We hope this guide helps you get a better idea of the difference between Cincinatti Financial and Virginia Farm Bureau and that it aids in making a more informed 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 insurance policy is to compare quotes from several companies, not just Cincinatti Financial and Virginia Farm Bureau. Luckily, sites like Compare.com do all the hard work for you. Simply enter your ZIP codes below and get free quotes from dozens of top car insurance carriers in your area, all in just a few minutes.

Cincinatti Financial vs. Virginia Farm Bureau FAQs

Is Cincinatti Financial or Virginia Farm Bureau cheaper?

Looking just at the national average prices, Virginia Farm Bureau is the less expensive of the two companies, offering average rates of $101 a month compared to $200 for Cincinatti Financial. That being said, Virginia Farm Bureau won't necessarily be the most affordable carrier for every policyholder, since there are a variety of different factors that are considered when it comes to your insurance bill.

Who is better, Cincinatti Financial or Virginia Farm Bureau?

Unfortunately, the real answer is "it depends.". No one company is necessarily "better" for each driver -- it all boils down to your unique auto insurance profile.

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

Car insurance carriers take a look at quite a few different variables when calculating the premiums they charge policyholders. Things such as age, your driving record, where you park your car, gender, and sometimes even things like your credit score can all be taken into consideration. Both Cincinatti Financial and Virginia 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 a bunch of different companies.

How do I know if Cincinatti Financial or Virginia Farm Bureau 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, 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 companies in your area. With those, you can guarantee you're getting the best rate. And who knows, the best carrier for you might not be Cincinatti Financial or Virginia 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.