Farm Bureau Financial Services vs. Farmers Automobile: Which Company is the Best Fit for You?

Quick Facts

• Looking at the national averages for auto insurance, Farmers Automobile offers significantly less expensive rates than Farm Bureau Financial Services
• Farmers Automobile offers more affordable average prices for residents of urban areas
• Farmers Automobile offers more discounts than Farm Bureau Financial Services

Farm Bureau Financial Services vs. Farmers Automobile: Which Company has the Cheapest Car Insurance?

Are you in the market for a new insurance policy? With so many ads from all sorts of companies offering hefty discounts, you're probably wondering exactly how much you might be able to save.

You might have narrowed your search down to Farm Bureau Financial Services or Farmers Automobile as potential options, but which carrier has cheaper premiums for car insurance?

Looking at the national average rates for both companies, Farmers Automobile has average rates that are about 30% per month less expensive than those from Farm Bureau Financial Services.

That being said, that doesn't necessarily mean Farmers Automobile will be the more affordable option for every single driver. After all, auto insurance carriers can offer drastically different rates to each driver depending on rating factors like your age, your driving record, your credit score, or even where you call home (among other things). So, at the end of the day, rates from every carrier will differ quite a bit from person to person.

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

Farm Bureau Financial Services or Farmers Automobile: Average Car Insurance Rates by State

Farm Bureau Financial Services and Farmers Automobile only compete against each other in one states, with Farmers Automobile offering cheaper premiums to the average driver in all of them. Iowa has the most noticable difference, where Farmers Automobile rates are over 20% less expensive than insurance prices at Farm Bureau Financial Services.

There are plenty of other factors that go into your auto insurance cost than just the state you live in. Read on to find out more.

Which is the Best Company For Young Drivers?

Young drivers -- especially teens -- normally pay a lot for insurance compared to older drivers. That's because young, inexperienced drivers are statistically much more likely to get into accidents since they have less experience on the roads.

However, that doesn't mean that teen drivers have to just accept sky-high car insurance rates. As you can see above, teens who use Farmers Automobile save nearly $60 a month compared to those who use Farm Bureau Financial Services.

Even so, both companies will lower premiums by the time drivers turn 25. Farmers Automobile offers the steepest reduction, with 25-year-olds paying less than a third of what 18-year-old drivers are charged. Farm Bureau Financial Services's average rates reduce almost 55% during that same period.

Which is the Best Company for Retired Drivers?

Once you approach retirement age, you'll generally enjoy the most affordable auto insurance prices 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 insurance.

But who has the best rates for retired drivers between Farm Bureau Financial Services and Farmers Automobile? Farmers Automobile gets the edge here, with average premiums coming in at around $96 per month compared to Farm Bureau Financial Services's $127.

Which is the Best Company for Married Drivers?

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

When it comes to relationship status, Farmers Automobile is the clear winner for those who are single, with premiums about $50 per month cheaper than Farm Bureau Financial Services, on average. The advantage for married drivers with Farmers Automobile is also obvious, where drivers save nearly $45 a month.

Farm Bureau Financial Services vs. Farmers Automobile: Average Rates by Gender

Men are statistically more likely than women to cause a collision and get into accidents. That means when it comes to insurance men will normally end up paying a little more.

Surprisingly, men generally pay around 3% less per month than women with Farm Bureau Financial Services, and about 1% more with Farmers Automobile.

Looking at overall affordability, Farmers Automobile comes out as the lowest option for both genders. On average, male drivers save about $45 a month and women save around $51 with Farmers Automobile compared to the average Farm Bureau Financial Services policyholder.

Farm Bureau Financial Services or Farmers Automobile: 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 multiple different coverages that account for a range of 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.

But most policies end up falling into two different types of coverage -- liability only (which provides property damage and bodily injury coverage for other drivers and passengers if you cause a collision) and full coverage (which includes two additional coverages -- comprehensive and collision -- alongside liability).

If you're looking for state minimum limits for liability insurance, Farmers Automobile typically offers more affordable prices of $75 compared to Farm Bureau Financial Services's $87. When it comes to full coverage policies with similar limits, Farmers Automobile again has the edge, with policies about $85 per month cheaper than Farm Bureau Financial Services, on average.

Is Farm Bureau Financial Services or Farmers Automobile 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.

Tickets and accidents will most likely raise your premiums, but is Farm Bureau Financial Services or Farmers Automobile less expensive for drivers with less-than-perfect records?

Which Company is Best for Drivers with Speeding Tickets?

Farm Bureau Financial Services policyholders can expect their prices to go up an average of $25 a month if they get a ticket, while Farmers Automobile usually raises rates around $22 per month, on average.

However, Farmers Automobile is normally the more affordable option for both drivers who have clean records and those with a recent speeding ticket, offering prices that are 28% and 25% cheaper, respectively, compared to Farm Bureau Financial Services.

Which Company is Best for Drivers After an Accident?

Farm Bureau Financial Services drivers who get in an accident can expect to see their premiums increase by over $65, while those who have insurance through Farmers Automobile will see about a $30 increase.

Overall, drivers who use Farmers Automobile end up with the cheaper prices after an accident, with monthly rates averaging $117 compared to Farm Bureau Financial Services's $187.

Which Company is Best for Drivers with a DUI?

On average, a DUI offense is going to cost you much more than a single accident or ticket when it comes to your insurance bill. On average, Farm Bureau Financial Services will climb your prices around 46% after a DUI, while Farmers Automobile's average premiums climb by over 50%.

If you have a DUI on your record and are looking for more affordable rates, Farmers Automobile tends to be the much more affordable option with average premiums of $178 a month compared to $226 from Farm Bureau Financial Services.

How does Credit Score Impact Farm Bureau Financial Services and Farmers Automobile Rates?

You may not realized it, but your credit score can be used as one of the factors to calculate your monthly auto insurance prices. This isn't always the case (California, for example, has banned the use of credit score as a rating factor) but it might come into play for many policyholders.

The reasoning car insurance companies use is that drivers with bad credit will be less likely to pay their bills on time; so generally, they'll be asked to pay more, while those with good credit will be rewarded with less expensive rates.

Looking at Farm Bureau Financial Services and Farmers Automobile specifically, which one has the best prices for policyholders at different credit levels?

Which Company is Best for Drivers with Good Credit?

If you have great credit, you'll usually find a better deal with Farmers Automobile. Drivers with "excellent" credit can save more than 35% compared to Farm Bureau Financial Services, and those with "good" scores can also expect to see savings -- about $41 or 29% more affordable each month.

Which Company is Best for Drivers with Bad Credit?

Farmers Automobile typically offers lower premiums than Farm Bureau Financial Services when it comes to drivers with a below average credit score. Drivers with "fair" credit pay around $37 a month less with Farmers Automobile compared to Farm Bureau Financial Services, and those with "poor" scores usually save an average of about $65 monthly.

Is Farm Bureau Financial Services or Farmers Automobile 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 rates? Typically, the more miles you put on your vehicle, the more you can expect to pay for auto insurance.

Farmers Automobile tends to be the less expensive option for both drivers who put 6,000 miles on their vehicles yearly, as well as those who average twice that figure. Farm Bureau Financial Services's average prices for drivers with 6,000 annual miles come in around 32% more expensive than Farmers Automobile. Those who drive 12,000 miles every year can expect to pay about 24% more with Farm Bureau Financial Services over Farmers Automobile.

Farm Bureau Financial Services vs. Farmers Automobile: Compare Rates for Urban, Suburban, and Rural Drivers

We've already mentioned how your home state can play a role in how much you pay for insurance, but the type of area you live in can have a large impact as well. Usually, those who live in urban areas will pay more than policyholders in rural areas because there are a lot more cars on the roads in those areas.

When comparing these two carriers side-by-side, Farmers Automobile generally comes out as the most affordable option for drivers in all areas, regardless of if they're urban, suburban, or rural.

Drivers in rural ZIP codes see the lowest prices from both companies, but Farmers Automobile comes out on top with average rates around $84 a month. Farmers Automobile also has cheaper average premiums for policyholders in urban and suburban ZIP codes -- a 2% and 42% per month respective difference when compared to Farm Bureau Financial Services drivers in similar areas.

Farm Bureau Financial Services vs. Farmers Automobile 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 where do you even start? With so many discounts out there, it may seem challenging to find all the of the ones you qualify for.

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

Overall, Farmers Automobile comes out ahead with 11 discounts to Farm Bureau Financial Services's nine.

A couple of those are overlapping for things like anti-theft discounts, discounts for being a good student, and paid in full discounts. Farmers Automobile also offers advance quote discounts, EFT discounts, group discounts, and more that Farm Bureau Financial Services does not.

On the flip side, Farm Bureau Financial Services has a couple unique discounts of its own -- discounts for being a good driver, life policy discounts, safe young driver discounts, and more.

Final Thoughts: Is Farm Bureau Financial Services or Farmers Automobile Best for You?

So, you've seen how different variables can affect your auto insurance rates. We've broken down the different discounts each company offers, too. That's all well and good, but when it comes down to it, is Farm Bureau Financial Services or Farmers Automobile the right fit for you?

Farmers Automobile might be best for you if....

• Your credit is less-than-stellar.
• Your home is located in the suburbs.
• You drive often but have a short commute.

Farm Bureau Financial Services might be best for you if...

• You have a more unique driver profile than those we mentioned above.

We hope this guide helps you get a good idea of the differences between Farm Bureau Financial Services and Farmers Automobile. We also hope we've given you the information you need to make the best decision about 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 insurance -- comparing quotes from several carriers, not just Farm Bureau Financial Services and Farmers Automobile. Luckily, Compare.com does all the hard work for you. Simply enter your ZIP codes below and get multiple free quotes from some of the best auto insurance companies in your area, all in just a few minutes.

Farm Bureau Financial Services vs. Farmers Automobile FAQs

Is Farm Bureau Financial Services or Farmers Automobile cheaper?

Looking just at the national average prices, Farmers Automobile is the more affordable of the two carriers, offering average rates of $123 a month compared to $170 for Farm Bureau Financial Services. That being said, Farmers Automobile won't necessarily be the cheapest carrier for each policyholder, since there are a bunch of different factors that come into play when it comes to your car insurance payment.

Who is better, Farm Bureau Financial Services or Farmers Automobile?

Sadly, the only answer we can give you is "it depends.". One company is not "better" for everyone -- it all depends on what your unique insurance profile looks like.

Why do Farm Bureau Financial Services and Farmers Automobile offer me different rates?

Car insurance companies take a look at a lot of different variables when calculating the premiums they charge policyholders. Factors like your driving record, where you live, age, gender, and sometimes even things like your credit score can all be used. Both Farm Bureau Financial Services and Farmers Automobile 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 several different carriers.

How do I know if Farm Bureau Financial Services or Farmers Automobile is right for me?

The only way to find the auto 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 area information and you'll get free quotes from dozens of the best car insurance carriers in your area. With those, you can guarantee you're getting the most affordable price. And who knows, the best carrier for you might not be Farm Bureau Financial Services or Farmers Automobile 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.