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

Quick Facts

• Looking at the national averages for auto insurance, Colorado Farm Bureau offers more affordable rates than State Farm
• Colorado Farm Bureau tends to be a much less expensive option for drivers with a DUI charge on their record
• State Farm offers more discounts than Colorado Farm Bureau Insurance

Colorado Farm Bureau vs. State Farm: Which Company has the Cheapest Car Insurance?

So, you're considering switching your auto insurance. With so many ads from all sorts of companies offering large discounts, you're probably wondering exactly how much you might be able to save.

You've maybe even narrowed it down to Colorado Farm Bureau or State Farm for your next policy, but between the two, which one will save you the most?

Looking at the national average rates for both companies, Colorado Farm Bureau is about $26 per month cheaper than State Farm.

But Colorado Farm Bureau may not be the cheapest or best option for each driver out there. After all, car insurance carriers can offer drastically different rates to each driver depending on rating factors like your age, where you call home, your credit score, or even your driving record (among other things), so premiums could vary drastically from person to person.

Luckily, we've broken down average prices from both Colorado Farm Bureau and State Farm by lots of different rate factors, so read on to find out which company is the best for you.

Colorado Farm Bureau or State Farm: Average Car Insurance Rates by State

Colorado Farm Bureau and State Farm only compete against each other in Colorado, where State Farm offers the cheaper average rates. For Colorado residents, State Farm offers insurance for $124 a month on average. Colorado Farm Bureau's average premiums come out to be more expensive, at $132 monthly.

That being said, there are plenty of other factors that go into your auto insurance cost than just your home state. Keep reading to find out more.

Which is the Best Company For Young Drivers?

You might already know that teen drivers generally pay a lot more for insurance than any group out there on the road. It's because young, inexperienced drivers are statistically much more likely to get into an accident that results in an auto insurance claim, making them much riskier to insure.

Even so, that doesn't mean that teen drivers have to just accept sky-high auto insurance prices. As you can see above, teens who use Colorado Farm Bureau save nearly $150 a month compared to those who use State Farm.

That being said, both companies will lower rates by the time drivers turn 25. For example, average premiums for Colorado Farm Bureau policyholders decrease almost 40% and State Farm's rates drop nearly 60% over that time.

Which is the Best Company for Retired Drivers?

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

But who has the best prices for retired drivers between Colorado Farm Bureau and State Farm? State Farm gets the slight edge here, with average premiums coming in at around $111 per month compared to Colorado Farm Bureau's $114. However, the difference is only about 5%, so other factors will likely come into play when determining which carrier has the cheapest rates for you.

Which is the Best Company for Married Drivers?

Did you know that car insurance premiums are typically more expensive for single policyholders than they are for married policyholders? That's usually because married couples tend to own and insure more than one car, which can often earn you a discount.

When it comes to relationship status, Colorado Farm Bureau is the clear winner for those who are single, with rates around $33 per month more affordable than State Farm, on average. The advantage for married drivers with Colorado Farm Bureau is also obvious, where drivers save almost 15% a month.

Colorado Farm Bureau vs. State Farm: Average Rates by Gender

Men are statistically more likely than women to get pulled over for speeding or get into an accident. That means when it comes to insurance men will generally end up paying a little more.

On average, men see prices about $2 per month higher with Colorado Farm Bureau, and more than $10 with State Farm.

Looking at the data for each company specifically, Colorado Farm Bureau comes out as the most affordable option for both genders. On average, women save about $21 a month and men save around $31 with Colorado Farm Bureau compared to the average State Farm policyholder.

Colorado Farm Bureau or State Farm: 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, auto insurance can be pretty complicated. Everyone needs insurance, but there are so many different terms and limits that it can be hard to find the right policy.

The two most common policies that many drivers look at fall into two categories -- 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 two additional coverages -- comprehensive and collision -- in addition to liability).

If you're looking for state minimum liability limits, Colorado Farm Bureau normally offers significantly less expensive premiums of $71 compared to State Farm's $99. When it comes to full coverage policies with similar limits, Colorado Farm Bureau again has the edge, with policies about $25 per month cheaper than State Farm, on average.

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

It's no big secret that drivers who are accident-free get better deals on their car 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 Colorado Farm Bureau or State Farm less expensive for drivers with less-than-perfect records?

Which Company is Best for Drivers with Speeding Tickets?

Colorado Farm Bureau policyholders can expect their rates to go up an average of $22 a month if they get a ticket, while State Farm usually raises premiums around $21 per month, on average.

Even so, Colorado Farm Bureau tends to offer the best prices for both drivers who have clean records and those with a recent speeding ticket, offering prices that are 16% and 14% more affordable, respectively, compared to State Farm.

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 about an $25 -- or around 18% -- increase in their insurance rates. Drivers who use State Farm for their car insurance will see a monthly bill about $29 (or 18%) more expensive after reporting an accident to their auto insurance carrier.

Overall, Colorado Farm Bureau offers the lowest premiums for drivers with an at-fault accident on their records, with monthly prices averaging $137 compared to State Farm's $163.

Which Company is Best for Drivers with a DUI?

On average, a DUI offense is going to cost you much more than a single collision or ticket when it comes to your insurance bill. State Farm drivers usually see a 25% climb in their car insurance rates after a DUI charge, while Colorado Farm Bureau will typically raise prices by around 22%.

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

In many cases, your credit score can be used as one of the variables to calculate your monthly insurance premiums. This isn't always the case (for example, Massachusetts and Michigan are two states that ban the practice entirely), but it will come into play for many drivers.

Auto insurance carriers argue that someone with good credit is more likely to pay their bills on time, which makes them less risky to insure. Because of that, policyholders with good credit will often be rewarded with cheaper rates.

So, which company offers the best prices for drivers with good, average, or poor credit?

Which Company is Best for Drivers with Good Credit?

Which Company is Best for Drivers with Bad Credit?

Is Colorado Farm Bureau or State Farm 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 how much car insurance companies will charge for coverage? Usually, those who drive less will end up with less expensive rates since there's less of a chance of getting into a collision 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 Colorado Farm Bureau charges. However, there's a small difference in monthly premiums for State Farm, with policyholders who drive the least paying about $13 less every month compared to those who drive 12,000 miles yearly. Still, Colorado Farm Bureau is the cheaper option for drivers in both categories.

Colorado Farm Bureau vs. State Farm: Compare Rates for Urban, Suburban, and Rural Drivers

Where you park your vehicle can play a large role in how much you pay for insurance. Generally, those who live in rural areas will pay less than policyholders in urban areas because of the small number of cars that are on the roads in those areas.

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

For drivers in urban ZIP codes, Colorado Farm Bureau offers premiums around $155 a month compared to State Farm's $185. People who live in suburban ZIP codes can expect to pay about $156 a month for Colorado Farm Bureau and $161 for State Farm. Lastly, those in rural areas tend to get the cheapest prices from both carriers, with average monthly rates coming in at $85 and $127 for Colorado Farm Bureau and State Farm respectively.

Colorado Farm Bureau vs. State Farm Discounts

You want to save as much money as possible, right? The best way to do that is by taking advantage of as many car 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 qualify for.

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

State Farm knocks Colorado Farm Bureau out of the park when it comes to the sheer number of discounts available, offering 23 different discounts to Colorado Farm Bureau's 23.

A couple of those are overlapping for things like discounts for being a defensive driver, discounts for being a good student, and multi-policy discounts. State Farm also offers ABS discounts, annual mileage discounts, anti-theft discounts, and more that Colorado Farm Bureau does not.

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 State Farm Best for You?

So, you've seen how different factors can affect your auto insurance premiums. We've broken down the different discounts each company offers, too. But, at the end of the day, which insurance carrier is the right carrier for you, your vehicle, and your wallet?

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

• You have a clean driving record, free of collisions, tickets, or DUIs.
• Your home is located in the suburbs.
• You and your spouse are buying insurance together.

State Farm might be best for you if...

• You have above-average credit.
• You're looking for the company with the most discounts.
• You are over 65 years old and want to save some money on your car insurance.

We hope this guide has ben a valuable resource as you compare Colorado Farm Bureau and State Farm 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 a handful of companies, not just Colorado Farm Bureau and State Farm. Luckily, Compare.com makes it easy for you to do just that. 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.

Colorado Farm Bureau vs. State Farm FAQs

Is Colorado Farm Bureau or State Farm cheaper?

Looking just at the national average rates, Colorado Farm Bureau is the more affordable of the two companies, offering average rates of $132 per month compared to $158 for State Farm. However, Colorado Farm Bureau won't necessarily be the lowest carrier for each policyholder, since there are a range of different variables that come into play when it comes to your auto insurance bill.

Who is better, Colorado Farm Bureau or State Farm?

Sadly, the only answer we can give you is "it depends.". No single company is "better" for every driver -- it all depends on what your unique car insurance profile looks like. For example, Colorado Farm Bureau offers less expensive prices for drivers with a recent DUI, while State Farm is cheaper for drivers with excellent credit.

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

Insurance carriers take a look at quite a few different factors when calculating the premiums they charge policyholders. Variables such as age, gender, where you live, your driving record, and sometimes even things like your credit score can all be used. Both Colorado Farm Bureau and State Farm use different formulas, so each one will most likely offer different prices. The only real way to see which carrier is the cheapest for you is by comparing personalized quotes from many different companies.

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

The only way to find the auto insurance company that's right for you is by getting quotes from several carriers and finding the one best suited for your individual budget. Luckily, Compare.com does 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. That way, you can guarantee you're getting the most affordable rate. And who knows, the best carrier for you might not be Colorado Farm Bureau or State Farm 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.