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

Quick Facts

• Looking at the national averages for auto insurance, Colorado Farm Bureau offers significantly cheaper rates than GEICO
• Colorado Farm Bureau has less expensive premiums for policyholders who drive fewer than 6,000 miles yearly
• GEICO may help you save more money -- they offer more discounts than Colorado Farm Bureau Insurance

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

Are you considering a new insurance policy? You've probably seen commercials and billboards from companies offering hefty savings, but exactly how much money can you save by switching?

You've maybe even narrowed it down to Colorado Farm Bureau or GEICO as potential options, but between the two, which company will save you the most?

Looking at nationwide averages, Colorado Farm Bureau has average rates that are around 30% a month more affordable than those from GEICO.

Even so, that doesn't mean Colorado Farm Bureau will necessarily be less expensive than GEICO for each driver. Insurance carriers use all sorts of complex algorithms to determine prices, so depending on where you live or how old you are (among a lot of other factors), you could see wildly different rates from the ones above.

Wanting to know if Colorado Farm Bureau or GEICO 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.

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

Colorado Farm Bureau and GEICO 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 car insurance.

There are plenty of other factors that go into your auto insurance payment 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?

You might already know that teen drivers normally pay a lot more for insurance than any other group of drivers out there on the road. Generally, that's because teen drivers are statistically much more likely to cause collisions and other accidents that will result in an insurance claim.

That being said, that doesn't mean that teen drivers have to just accept sky-high car insurance premiums. For example, 18-year-old drivers pay an average of almost 40% less a month by choosing Colorado Farm Bureau over GEICO.

But both companies will lower prices by the time drivers turn 25. GEICO offers the steepest decrease, with 25-year-olds paying less than half what 18-year-old drivers are charged. That being said, Colorado Farm Bureau still has the cheapest premiums at $138 per month.

Which is the Best Company for Retired Drivers?

Drivers around retirement age typically enjoy some of the most affordable auto insurance prices you'll ever find. After all, they've likely been driving for quite some time, which usually decreases their chances of collisions and other infractions that can raise rates.

When looking at Colorado Farm Bureau and GEICO specifically, which carrier is best for retired drivers? Colorado Farm Bureau gets the edge here, with average premiums coming in at about $114 a month compared to GEICO's $148.

Which is the Best Company for Married Drivers?

Single policyholders tend to get offered slightly more expensive insurance rates than married couples. This usually boils down to married policyholders having multiple vehicles on their policy -- something many car insurance carriers will reward with discounts.

For single drivers, the difference in average prices between these two companies is significant, with Colorado Farm Bureau premiums coming in at a quarter less than GEICO's. The advantage is also clear for married drivers - Colorado Farm Bureau offers the lowest average prices.

Colorado Farm Bureau or GEICO: Average Rates by Gender

Because women are less likely to get tickets and get into collisions, they are less likely to file a claim with insurance. So, women tend to get cheaper rates than men.

With Colorado Farm Bureau, women normally pay around $2 per month less than men, and about $10 with GEICO.

When it comes to the most affordable rates for each gender, Colorado Farm Bureau comes out as the cheapest option for both genders. On average, women save about $50 a month and men save around $56 with Colorado Farm Bureau compared to the average GEICO policyholder.

Colorado Farm Bureau vs. GEICO: 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.

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

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

Looking specifically at state minimum liability limits, Colorado Farm Bureau has the significant edge, with average monthly premiums 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 GEICO's $269.

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

You've probably seen plenty of commercials from auto insurance carriers offering great prices 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 at-fault accidents and speeding tickets on your record, but which of these two companies offers the lowest rates to drivers with less-than-ideal driving records?

Which Company is Best for Drivers with Speeding Tickets?

Policyholders who use Colorado Farm Bureau for their insurance can typically expect their monthly bill to go up around 16% after getting a speeding ticket. GEICO policyholders can expect a bit more drastic of an increase of about 23%.

That being said, Colorado Farm Bureau has cheaper premiums for drivers in both categories, offering rates that are 3% and 11% more affordable, respectively, compared to GEICO.

Which Company is Best for Drivers After an Accident?

After an accident, drivers who have their auto insurance through Colorado Farm Bureau can expect to see around an $25 -- or about 18% -- rise in their insurance prices. Drivers who use GEICO for their car insurance will see a monthly bill around $85 (or 43%) more expensive after reporting an accident to their auto insurance company.

At the end of the day, Colorado Farm Bureau offers the most affordable rates for drivers with an at-fault collision on their records, with average prices coming in at $137 compared to GEICO's $200.

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. GEICO drivers usually see a 58% raise in their car insurance premiums after a DUI charge, while Colorado Farm Bureau will generally increase prices by about 22%.

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

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

Auto insurance companies argue that those with good credit scores are more likely to pay their bills on time every month, which lowers the risk involved on their end, while the opposite is true for those with bad credit.

Looking specifically at Colorado Farm Bureau and GEICO, which one has the cheapest premiums 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 GEICO Better for Drivers who Work from Home or Have Short Commutes?

The amount of time you spend behind the wheel of your car plays a big role in your monthly prices. That's because the more milage you put on your vehicle each year, the more likely you are to be in an accident and file an insurance claim.

As you can see in the table above, annual mileage doesn't have much of an impact on how much Colorado Farm Bureau charges. However, there's a small difference in monthly rates for GEICO, with policyholders who drive the least paying around $8 less each month compared to those who drive 12,000 miles annually. Still, for drivers in both categories, Colorado Farm Bureau is the less expensive carrier.

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

Where your home is can have a big impact on your monthly insurance cost. Usually, those who live in rural areas will pay less than drivers in urban areas since there are a lot fewer cars on the road where they live, which reduces the chances of an accident.

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

For policyholders in urban ZIP codes, Colorado Farm Bureau Insurance's average rates are about $56 less than GEICO. People who live in suburban areas pay around $29 less with Colorado Farm Bureau compared to GEICO. Those in rural areas can expect to save about $74 with Colorado Farm Bureau compared to GEICO.

Colorado Farm Bureau vs. GEICO Discounts

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

But where do you even start? With so many discounts out there, it may seem difficult to find all the of 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 GEICO so that you can easily see which company offers the most discounts and see which ones you might be able to take advantage of.

GEICO 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.

There are a couple discounts both carriers offer, but GEICO also offers discounts for ABS, anti-theft, commercial drivers license, 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 GEICO Best for You?

So, we've broken down the average premiums for many of the factors insurance companies look at, and walked through the different discounts each carrier offers, too. That's all well and good, but when it comes down to it, which insurance company is the right fit for you?

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

• You have a speeding ticket on your driving record.
• Your home is in a busy urban area.
• You drive often but have a short commute.

GEICO might be best for you if...

• You're thinking about moving to another state -- undefined is only available to residents.
• You're looking for discounts -- GEICO has the most.

Hopefully, this guide helps you get a better idea of the difference between Colorado Farm Bureau and GEICO. We also hope we've given you the information you need to make the best 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 auto insurance -- comparing quotes from multiple carriers, not just Colorado Farm Bureau and GEICO. Luckily, Compare.com does all the hard work for you. Just enter your ZIP code below and get free quotes from dozens of the top car insurance companies in your area, all in just a few minutes.

Colorado Farm Bureau vs. GEICO FAQs

Is Colorado Farm Bureau or GEICO cheaper?

Colorado Farm Bureau is the cheaper of the two carriers when looking at national average rates, with policies averaging $132 a month with Colorado Farm Bureau and $185 for GEICO. But that doesn't mean Colorado Farm Bureau will be the cheapest carrier for every policyholder, since there are many different variables (things like age, gender, driving record, etc.) that play a role in how much you pay.

Who is better, Colorado Farm Bureau or GEICO?

Sadly, the answer truly is "it depends.". No single company is necessarily "better" for each policyholder -- it all depends on what your unique insurance profile looks like.

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

Car insurance companies use a lot of different factors when calculating the premiums they charge. Variables like where you park your vehicle, age, where you call home, gender, and sometimes even things like your credit score can all be used. Both Colorado Farm Bureau and GEICO calculate prices using different factors, so it's likely they'll offer different premiums. The best way to determine which carrier is the lowest for you is by comparing personalized quotes from lots of different carriers.

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

The only way to find the insurance company that's right for you is by getting quotes from a handful of companies 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 quotes from dozens of your local top auto insurance carriers for free. With those, you can guarantee you're getting the cheapest rate. And maybe you'll find that the best carrier for you isn't Colorado Farm Bureau or GEICO 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.