Erie vs. North Carolina Farm Bureau: Which Company is the Best Fit for You?

Quick Facts

• In general, North Carolina Farm Bureau offers cheaper prices than Erie
• Erie has more affordable rates for drivers with a DUI
• North Carolina Farm Bureau offers more affordable premiums for single people who will be the only person on the car insurance policy

Erie or North Carolina Farm Bureau: Which Company has the Cheapest Car Insurance?

So, you're considering switching to a new insurance policy. After all, you've seen ads from all sorts of companies offering big savings. But exactly how much can you save by switching?

You might have narrowed your search down to Erie or North Carolina Farm Bureau, but between the two, which one will offer you less expensive rates?

Looking at nationwide averages, Erie is around $23 more a month than North Carolina Farm Bureau.

However, that doesn't mean North Carolina Farm Bureau will necessarily be cheaper than Erie for each driver. Insurance carriers vary their prices depending on things like how old you are, how good your credit score is, where you live, how clean your driving record is, and a ton of other factors, so rates will change quite a bit from person to person.

So, if you want to find out which of Erie or North Carolina Farm Bureau is really the best for you, keep reading to see average premiums for each company broken down by many different rate factors.

Erie vs. North Carolina Farm Bureau: Average Car Insurance Rates by State

Erie and North Carolina Farm Bureau only compete against each other in North Carolina, where Erie offers the cheaper average prices. Erie drivers tend to pay about $18 per month less on average compared to drivers who use North Carolina Farm Bureau for their car insurance.

That being said, there are plenty of other factors that go into your auto insurance payment than just the state you live in. Keep reading to learn more.

Which is the Best Company For Young Drivers?

Young drivers -- especially teens -- typically pay a lot for insurance compared to older drivers. Generally, that's because teen drivers are statistically much more likely to get into an accident that results in a car insurance claim, making them much riskier to insure.

But still, even with seemingly sky-high rates, teen drivers can still find ways to save money. Just look at the table above -- where 18-year-old drivers who have North Carolina Farm Bureau for their car insurance pay almost 40% less than those who use Erie. It's worth noting that Erie offers insurance in 11 different states compared to North Carolina Farm Bureau's one, which can skew the average prices a bit, but the difference here is still considerable.

Even so, both companies will offer you dramatically lower premiums by the time you turn 25. For example, average rates for Erie policyholders reduce about $150 and North Carolina Farm Bureau's premiums decrease around $65 over that time.

Which is the Best Company for Retired Drivers?

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

But who has the best premiums for retired drivers between Erie and North Carolina Farm Bureau? In this case, Erie has the slight edge, with prices about $4 a month less than North Carolina Farm Bureau. That being said, the difference is only around 5%, so other variables (like your driving record is or your credit score) will likely come into play when determining which carrier has the most affordable rates for you.

Which is the Best Company for Married Drivers?

Did you know that auto insurance prices are normally more expensive for single policyholders than they are for married drivers? This usually boils down to married couples having multiple vehicles on their policy -- something lots of insurance carriers will reward with discounts.

For those who are single, the difference in average premiums between these two companies is significant, with North Carolina Farm Bureau prices coming in at a quarter less than Erie's. But for married policyholders, that advantage is much less clear - North Carolina Farm Bureau offers the cheapest average premiums , but the difference is only a dollar.

Erie or North Carolina Farm Bureau: Average Rates by Gender

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

On average, women see rates over $10 per month less expensive with Erie; and with North Carolina Farm Bureau, everyone ends up paying the same monthly prices regardless of gender.

Looking at the data for each company specifically, North Carolina Farm Bureau comes out on top for both men and women, with average premiums 18% less for men and 12% cheaper for women.

Erie vs. North Carolina 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, auto insurance isn't the easiest topic to understand. There are so many different terms and limits that it can make it pretty confusing 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 if you cause an accident) and full coverage (which includes two additional coverages -- collision and comprehensive -- in addition to what you get with liability).

Looking specifically at state minimum liability limits, North Carolina Farm Bureau has the edge, with average monthly rates coming in at $78. If you want a full coverage policy with the same state minimum limits, North Carolina Farm Bureau again has the edge, with policies averaging about $182 a month to Erie's $215.

Is Erie or North Carolina Farm Bureau Better for Drivers with Spotty Records?

It's no secret -- drivers with good records end up getting the best deals on their insurance. But that's not to say you can't save money if you don't have the best driving record, either.

It's no secret secret that collisions and speeding tickets lead to higher premiums, but which carrier -- Erie or North Carolina Farm Bureau -- has the lowest rates for drivers with less-than-ideal driving records?

Which Company is Best for Drivers with Speeding Tickets?

Policyholders who use Erie for their car insurance can generally expect their monthly bill to go up around 13% after getting a speeding ticket. North Carolina Farm Bureau policyholders can expect a bit more drastic of an increase of about 29%.

But North Carolina Farm Bureau tends to offer the best prices for drivers both with a ticket and with a clean record, offering prices that are $48 and $37 more affordable, respectively, compared to Erie Insurance.

Which Company is Best for Drivers After an Accident?

After an accident, drivers who have their insurance through Erie can expect to see around an $38 -- or about 24% -- rise in their auto insurance premiums. Drivers who use North Carolina Farm Bureau for their insurance will see a monthly bill around $29 (or 29%) more expensive after reporting a collision to their auto insurance company.

At the end of the day, drivers who use North Carolina Farm Bureau end up with the cheaper prices after an accident, with average rates coming in at $100 compared to Erie Insurance's $157.

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 car insurance bill -- normally a lot more than an accident or speeding ticket. North Carolina Farm Bureau drivers usually see a 72% climb in their insurance prices after a DUI charge, while Erie will typically raise premiums by about 40%.

Erie has the overall most affordable prices for drivers with a DUI on their records at $198 a month, but it's worth noting that Erie's average rates come from 11 states compared to just one for North Carolina Farm Bureau, so the data may be skewed slightly.

How does Credit Score Impact Erie and North Carolina Farm Bureau Rates?

You may not have known, but your credit score can come into play when carriers determine your monthly bill. Certain states and companies do not allow for credit score to be used as an insurance factor, but it might come into play for quite a few drivers.

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

So, which carrier offers the best premiums for drivers with poor, average, or good credit?

Which Company is Best for Drivers with Good Credit?

If you have great credit, Erie will generally reward you the most. For policyholders with "excellent" credit scores, Erie comes in NaN less expensive. Drivers with "good" credit scores typically save around 1% with Erie compared to average prices from North Carolina Farm Bureau.

Which Company is Best for Drivers with Bad Credit?

North Carolina Farm Bureau typically offers lower rates than Erie when it comes to drivers with a below average credit score. Drivers with "fair" credit pay about 16% per month less with North Carolina Farm Bureau compared to Erie, and those with "poor" scores normally save an average of around 29% monthly.

Is Erie or North Carolina 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 premiums? That's because the more milage you drive, the more likely you are to be in a collision 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 North Carolina Farm Bureau charges. However, there's a small difference in monthly rates for Erie, with policyholders who drive the least paying about $11 less every month compared to those who drive 12,000 miles yearly. Still, for drivers in both categories, North Carolina Farm Bureau is the more affordable company.

Erie or North Carolina Farm Bureau: Compare Rates for Urban, Suburban, and Rural Drivers

Where you park your car can have a sizable impact on your monthly car insurance bill. Generally, those who live in rural areas will pay less than drivers in urban areas since there are a lot fewer vehicles on the roads where they live.

North Carolina Farm Bureau boasts the lowest average rates in urban and suburban areas, while Erie wins in rural areas.

Those in rural areas can expect to pay around $115 per month with Erie and $126 with North Carolina Farm Bureau. People in suburban areas pay about $143 with North Carolina Farm Bureau compared to Erie's $145 a month. For drivers in urban ZIP codes, North Carolina Farm Bureau's average premiums are around $120 while Erie offers prices about $194.

Erie vs. North Carolina Farm Bureau Discounts

No matter why you might be in the market for a new auto insurance policy, you're always going to want to save as much money as you can, and the best way to do that is by taking advantage of as many car insurance discounts as possible.

The difficult part is finding all of the discounts you qualify for, since it can feel sometimes like every company has different discounts and each one is advertised differently.

Luckily, we did the hard work for you and looked at all of the different discounts Erie and North Carolina Farm Bureau offer their customers so that you can see which company offers the most discounts and see which ones you might be able to take advantage of.

Erie blows North Carolina Farm Bureau away when it comes to the sheer amount of discounts available, offering 21 different discounts to North Carolina Farm Bureau's three.

Both companies offer many of the same discounts -- like paid in full discounts and passive restraint discounts -- but Erie also offers discounts for ABS, advance quote, anti-theft, and more.

On the other hand, North Carolina Farm Bureau has a proprietary discount of their own -- a protection plus discounts.

Final Thoughts: Is Erie or North Carolina Farm Bureau Best for You?

You've seen the effect certain factors have on your insurance and the different discounts carriers offer. But, when it comes down to it, which insurance carrier is the best carrier for you, your vehicle, and your wallet?

North Carolina Farm Bureau might be best for you if....

• You've been pulled over for speeding recently.
• Your home is in a busy urban area.
• You drive fewer than 12,000 miles each year.

Erie might be best for you if...

• Your driving record includes a DUI charge.
• You want to save extra money with discounts.
• You're of retirement age and want to take advantage of lower rates.

Hopefully, this guide helps you get a good idea of the differences between Erie and North Carolina 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 car insurance policy is to compare quotes from multiple companies, not just Erie and North Carolina Farm Bureau. Luckily, sites like Compare.com do all the hard work for you. Just enter your ZIP code below and get multiple free quotes from some of the best insurance carriers in your area, all in just a few minutes.

Erie vs. North Carolina Farm Bureau FAQs

Is Erie or North Carolina Farm Bureau cheaper?

North Carolina Farm Bureau is the cheaper of the two companies when looking at national average prices, with policies averaging $130 a month with North Carolina Farm Bureau and $153 for Erie. That being said, that doesn't mean North Carolina Farm Bureau will be the cheapest company for everyone, since there are a bunch of different variables that are considered when it comes to your auto insurance cost.

Who is better, Erie or North Carolina Farm Bureau?

Sadly, the answer truly is "it depends.". One carrier is not "better" for every policyholder -- it all depends on the makeup of your unique insurance profile. For example, Erie is less expensive for drivers who have already retired, while North Carolina Farm Bureau offers more affordable premiums for single policyholders.

Why do Erie and North Carolina Farm Bureau offer me different rates?

Car insurance carriers use a lot of different factors when determining the rates they charge. Things such as where you live, age, where your home is, gender, and sometimes even things like your credit score can all be taken into consideration. Both Erie and North Carolina Farm Bureau calculate premiums using different variables, so it's likely they'll offer different prices. The best way to determine which company is the most affordable for you is by comparing personalized quotes from lots of different companies.

How do I know if Erie or North Carolina Farm Bureau is right for me?

The only way to find the auto insurance carrier 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 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 insurance companies for free. With those, you can guarantee you're getting the best premium. And maybe you'll find that the best company for you isn't Erie or North Carolina Farm Bureau 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.