Colorado Farm Bureau vs. Farmers: Which Company is the Best Fit for You?

Quick Facts

• Looking at the national averages for car insurance, Colorado Farm Bureau offers significantly less expensive prices than Farmers
• Colorado Farm Bureau has cheaper rates for residents of suburban areas
• Farmers may help you save more money -- they offer more discounts than Colorado Farm Bureau Insurance

Colorado Farm Bureau or Farmers: Which Company has the Cheapest Car Insurance?

Are you considering 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've maybe even narrowed your search down to Colorado Farm Bureau or Farmers for your next policy, but which carrier has more affordable prices for insurance?

Looking at nationwide averages, Colorado Farm Bureau is quite a bit cheaper than Farmers, with premiums averaging $132 a month compared to $203 with Farmers.

That being said, that doesn't necessarily mean Colorado Farm Bureau will be the less expensive option for each driver. Car insurance carriers vary their rates depending on things like how good your credit score is, how old you are, where you live, how clean your driving record is, and all sorts of other factors, so premiums will differ quite a bit from person to person.

So, if you want to find out which of Colorado Farm Bureau or Farmers is really the best for you, keep reading to see average prices for each carrier broken down by a range of different rate factors.

Colorado Farm Bureau vs. Farmers: Average Car Insurance Rates by State

Colorado Farm Bureau and Farmers only compete against each other in Colorado, where Colorado Farm Bureau offers the cheaper average rates. Undefined drivers tend to pay about undefined per month less on average compared to drivers who use undefined for their insurance.

But there's more to calculating auto insurance premiums than just where you live. Continue reading to learn more about how other variables will affect your rates.

Which is the Best Company For Young Drivers?

Teen drivers will almost always have the most expensive car insurance prices of any other group of drivers out there on the road. That's because teen drivers are statistically much more likely to get into an accident that results in an auto insurance claim, making them much riskier to insure.

However, that doesn't mean that teen drivers have to just accept sky-high auto insurance rates. As you can see above, teens who use Colorado Farm Bureau save over 60% a month compared to those who use Farmers.

Even so, both companies will drop prices once you turn 25. Farmers offers the steepest reduction, with 25-year-olds paying less than a third of what 18-year-old drivers are charged. That being said, Colorado Farm Bureau still has the most affordable premiums at $138 a month.

Which is the Best Company for Retired Drivers?

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

So, which company offers the best prices to retired drivers? Colorado Farm Bureau gets the edge, with rates for drivers 65 and older $29 cheaper than the national average for Farmers.

Which is the Best Company for Married Drivers?

Did you know that auto insurance premiums are generally more expensive for single drivers than they are for married policyholders? This usually boils down to married couples having more than one vehicle on their policy -- something several insurance carriers will reward with discounts.

For single policyholders, the difference in average rates between these two companies is significant, with Colorado Farm Bureau prices coming in at a third less than Farmers's. For married drivers, the advantage is clear again - Colorado Farm Bureau has the edge when it comes to average rates.

Colorado Farm Bureau or Farmers: Average Rates by Gender

Because women are less likely to get into accidents and get speeding tickets, they are less likely to file a claim with insurance. So, insurance carriers will often charge women less than men.

Women usually pay around $2 per month less than men with Colorado Farm Bureau, but with Farmers, the difference is closer to $7 a month.

Looking at the data for each carrier specifically, Colorado Farm Bureau offers the lowest average prices for both men and women, with average premiums 36% less for men and 35% cheaper for women.

Colorado Farm Bureau vs. Farmers: 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.

Car insurance can be a complicated subject for most people. Everyone needs insurance, but there are so many different terms and coverages that it can be hard to find the right policy for you.

The two most common policies that drivers look at fall into two categories -- liability coverage (that covers property damage and bodily injury for other drivers and passengers if you cause a collision) and full coverage (which normally refers to having collision and comprehensive coverages in addition to what you get with a liability policy).

Looking specifically at state minimum liability insurance, Colorado Farm Bureau has the significant edge, with average monthly rates coming in at $71. If you want a full coverage policy with the same state minimum limits, Colorado Farm Bureau again has the edge, with policies averaging about $193 per month to Farmers's $281.

Is Colorado Farm Bureau or Farmers Better for Drivers with Spotty Records?

You've probably seen plenty of commercials from auto insurance companies offering great premiums 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 speeding tickets and collisions lead to higher prices, but which company -- Colorado Farm Bureau or Farmers -- has the cheapest rates for drivers with spotty records?

Which Company is Best for Drivers with Speeding Tickets?

Policyholders who use Colorado Farm Bureau for their insurance can generally expect their monthly bill to go up around 16% after getting a speeding ticket. Farmers policyholders can expect a bit more drastic of an increase of about 21%.

But Colorado Farm Bureau tends to offer the best prices for drivers both with a ticket and with a clean record, offering premiums that are $50 and $72 less expensive, respectively, compared to Farmers Insurance.

Which Company is Best for Drivers After an Accident?

Colorado Farm Bureau drivers who get in an accident can expect to see their prices rise by just under 20%, while those who have insurance through Farmers will see around a 30% increase.

At the end of the day, the more affordable rates come from Colorado Farm Bureau, with average prices coming in at $137 compared to Farmers Insurance's $224.

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 auto insurance bill -- normally a lot more than a collision or speeding ticket. On average, Farmers will raise your premiums about 27% after a DUI, while Colorado Farm Bureau's average prices increase by more than 20%.

How does Credit Score Impact Colorado Farm Bureau and Farmers Rates?

In many cases, your credit score can be used as one of the factors to determine your monthly car insurance premiums. This isn't true for everyone (California, for example, has banned the use of credit score as a car insurance factor) but it will come into play for quite a few policyholders.

Auto 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.

Looking at Colorado Farm Bureau and Farmers specifically, which one has the best rates for policyholders at different credit levels?

Which Company is Best for Drivers with Good Credit?

Which Company is Best for Drivers with Bad Credit?

Is Colorado Farm Bureau or Farmers 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 pretty big impact on your monthly insurance payment? Typically, the more milage you put on your car each year, the more you can expect to pay for coverage.

In this case, neither Colorado Farm Bureau or Farmers report increasing premiums for drivers with higher annual mileage figures. Even so, Colorado Farm Bureau comes out as the most affordable for drivers at both intervals, whether they put 6,000 or 12,000 miles on their vehicle every year, with average prices of $132 a month for both.

Colorado Farm Bureau or Farmers: Compare Rates for Urban, Suburban, and Rural Drivers

Where you park your car can play a substantial role in how much you pay for car insurance. Usually, if you live in an urban area with more cars on the road, you'll pay a little more for insurance, while the opposite is true for people in rural areas.

Colorado Farm Bureau tends to offer the cheapest rates for drivers in all types of areas, no matter if they're urban, suburban, or rural.

Those in rural areas can expect to save around 50% with Colorado Farm Bureau compared to Farmers. People who live in suburban areas pay about 17% less with Colorado Farm Bureau compared to Farmers. For drivers in urban ZIP codes, Colorado Farm Bureau Insurance's average prices are around 38% less than Farmers Insurance.

Colorado Farm Bureau vs. Farmers Discounts

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

But where do you even start? With what seems like a million different discounts out there, it may be hard to find all the ones you qualify for.

Luckily, we did the hard work for you and compared all of the different discounts offered by Colorado Farm Bureau and Farmers so that you can easily see which company offers the most discounts and, therefore, the largest savings.

Farmers blows Colorado Farm Bureau away when it comes to the sheer amount of discounts available, offering 28 different discounts to Colorado Farm Bureau's four.

Both companies offer lots of the same discounts -- like discounts for being a defensive driver, discounts for being a good student, and multi-policy discounts -- but Farmers also offers discounts for ABS, advance quote, alternative fuel, and more.

Colorado Farm Bureau's discounts come through just a few categories, including Defensive Driver, Driver Training, Good Student, and more.

Final Thoughts: Is Colorado Farm Bureau or Farmers Best for You?

You've seen the effect certain variables have on your car insurance and the different discounts carriers offer. But, at the end of the day, which insurance carrier is the right company for you, your vehicle, and your wallet?

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

• Your credit is less-than-stellar.
• You're looking for the best premiums on liability only coverage.
• You and your spouse are buying auto insurance together.

Farmers might be best for you if...

• You're thinking about moving to another state -- undefined only offers policies in.
• You care about discounts (Farmers offers the most).

Hopefully, this guide helps you get a good idea of the differences between Colorado Farm Bureau and Farmers and that it aids in making a more informed decision about your 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 car insurance -- comparing quotes from several companies, not just Colorado Farm Bureau and Farmers. Luckily, Compare.com makes it easy for you to do just that. Simply enter your ZIP codes below and get free quotes from dozens of top auto insurance carriers in your area, all in just a few minutes.

Colorado Farm Bureau vs. Farmers FAQs

Is Colorado Farm Bureau or Farmers cheaper?

Colorado Farm Bureau is the cheaper of the two companies when looking at national average rates, with policies averaging $132 per month with Colorado Farm Bureau and $203 for Farmers. Even so, that doesn't mean Colorado Farm Bureau will be the most affordable company for everyone, since there are a variety of different factors that are considered when it comes to your insurance cost.

Who is better, Colorado Farm Bureau or Farmers?

Sadly, the answer truly is "it depends.". No one carrier is necessarily "better" for each policyholder -- it all comes down to what your unique car insurance profile looks like.

Why do Colorado Farm Bureau and Farmers offer me different rates?

Insurance carriers use many different variables when determining the premiums they charge. Things such as your driving record, gender, age, where you live, and sometimes even things like your credit score can all be taken into consideration. Both Colorado Farm Bureau and Farmers calculate prices differently, so it's likely they'll offer different rates. The best way to determine which company is the lowest for you is by comparing personalized quotes from lots of different companies.

How do I know if Colorado Farm Bureau or Farmers is right for me?

The only way to find the auto 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 ZIP code 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 rate. And maybe you'll find that the best company for you isn't Colorado Farm Bureau or Farmers 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.