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

Quick Facts

• Based on national averages for auto insurance, Metromile offers less expensive rates than Farm Bureau Financial Services
• Farm Bureau Financial Services tends to be a much cheaper option for policyholders who live in urban areas
• Metromile has more affordable premiums for drivers who have below-average credit

Farm Bureau Financial Services or Metromile: 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 pretty big savings, 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 Metromile for your next policy, but which one will save you the most?

As you can see, Farm Bureau Financial Services has average rates that are around 12% a month more expensive than those from Metromile when looking at the national average rates for car insurance.

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

Wanting to know if Farm Bureau Financial Services or Metromile is really the right company for you? Keep on reading to see how average rates can change based on all of the factors we've mentioned above.

Farm Bureau Financial Services vs. Metromile: Average Car Insurance Rates by State

Farm Bureau Financial Services and Metromile only compete against each other in Arizona, where Metromile offers the cheaper average premiums. Metromile drivers tend to pay about $41 per month less on average compared to drivers who use Farm Bureau Financial Services for their insurance.

But there's more to calculating car insurance rates than just where you call home. Keep reading to learn more.

Which is the Best Company For Young Drivers?

Teen drivers will almost always have the most expensive auto insurance premiums of any group on the road. The reason is that teen drivers are statistically much more likely to cause collisions and other accidents that will result in an insurance claim.

But still, even with seemingly sky-high prices, teen drivers can still find ways to save money. As you can see above, teens who use Metromile save 3% a month compared to those who use Farm Bureau Financial Services.

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

Which is the Best Company for Retired Drivers?

Once you approach retirement age, you'll generally enjoy the cheapest 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 rates for car insurance.

But who has the best prices for retired drivers between Farm Bureau Financial Services and Metromile? In this case, Farm Bureau Financial Services has the slight edge, with premiums about $2 per month less than Metromile. Even so, the difference is only around 5%, so other variables will likely come into play when determining which carrier has the lowest prices for you.

Which is the Best Company for Married Drivers?

Married policyholders tend to get slightly cheaper insurance rates than single drivers. That's because policies for married drivers normally cover several vehicles, which several carriers will give you a discount for.

For single policyholders, the difference in average premiums between these two companies is significant, with Metromile prices coming in at about 10% less than Farm Bureau Financial Services's. The advantage for married couples with Metromile is also obvious, where drivers save over 15% a month.

Farm Bureau Financial Services or Metromile: Average Rates by Gender

Did you know women tend to pay less for auto insurance than men? This is because men are statistically more likely than women to get into a collision or get pulled over for speeding, which leads to increased risk for insurers and, therefore, higher rates.

Surprisingly, with Farm Bureau Financial Services, women usuallypay around 3% more per month than men, but surprisingly, with Metromile, women typically pay about 3% more a month than men.

Looking at overall affordability, Metromile comes out as the most affordable option for both genders, with average premiums 12% less for men and 12% cheaper for women.

Farm Bureau Financial Services vs. Metromile: 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.

It's no secret that insurance can be pretty complicated. Everyone needs car 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 bodily injury and property damage for other drivers and their passengers if you cause an accident) and full coverage (which includes collision and comprehensive coverages that protect your own car, in addition to liability).

When it comes to state minimum limits for liability insurance, Farm Bureau Financial Services has the edge, while Metromile offers the cheapest average prices for full coverage policies with similar coverage limits. Policyholders looking for basic state minimum coverage can save around $10 with Farm Bureau Financial Services, while full coverage comes out to be around $50 more affordable with Metromile.

Is Farm Bureau Financial Services or Metromile Better for Drivers with Spotty Records?

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

Speeding tickets and collisions will most likely raise your rates, but is Farm Bureau Financial Services or Metromile less expensive for drivers with spotty records?

Which Company is Best for Drivers with Speeding Tickets?

Drivers who use Farm Bureau Financial Services for their insurance can normally expect their monthly bill to go up about 17% after getting a speeding ticket. Metromile policyholders can expect a bit more drastic of an increase of around 22%.

If you have gotten a ticket, Farm Bureau Financial Services tends to offer the best premiums at about 1% cheaper, while Metromile has the edge for drivers with a clean record.

Which Company is Best for Drivers After an Accident?

Farm Bureau Financial Services policyholders who get in a collision can expect to see their prices increase by over $65, while those who have insurance through Metromile will see around a $55 increase.

At the end of the day, Metromile offers the lowest premiums for drivers with an at-fault collision on their records, with average rates coming in at $171 compared to Farm Bureau Financial Services's $187.

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 speeding ticket or even an accident. On average, Farm Bureau Financial Services will climb your prices about 46% after a DUI, while Metromile's average premiums climb by more than 30%.

But if you end up with a DUI charge and are looking for more affordable rates, Metromile tends to be more affordable for the average driver, with monthly premiums coming in at around $167 to Farm Bureau Financial Services's $226.

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

Did you know many car insurance carriers take into account your credit score when determining prices? This isn't true for everyone (Massachusetts, for example, has banned the use of credit score as an insurance factor) but it might come into play for quite a few drivers.

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

Looking at Farm Bureau Financial Services and Metromile specifically, which company has the cheapest rates for policyholders at different credit levels?

Which Company is Best for Drivers with Good Credit?

If you have solid credit, Metromile will typically reward you the most. For drivers with "excellent" credit scores, Metromile comes in NaN cheaper. Drivers with "good" credit scores usually save about 2% with Metromile compared to average premiums from Farm Bureau Financial Services.

Which Company is Best for Drivers with Bad Credit?

Metromile typically offers lower prices than Farm Bureau Financial Services when it comes to drivers with bad credit. Drivers with "fair" credit pay around 3% per month less with Metromile compared to Farm Bureau Financial Services, and those with "poor" scores generally save an average of about 26% monthly.

Is Farm Bureau Financial Services or Metromile 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 sizable impact on your monthly rates? Normally, those who drive less will end up with more affordable premiums since there's less of a chance of causing a collision and filing an insurance claim.

As you can see in the table above, annual mileage doesn't have much of an impact on how much Metromile charges. However, there's a small difference in monthly prices for Farm Bureau Financial Services, with drivers who put 6,000 miles on their vehicle yearly paying around $11 less each month compared to those who drive 12,000 miles every year. Still, for drivers in both categories, Metromile is the less expensive company.

Farm Bureau Financial Services or Metromile: Compare Rates for Urban, Suburban, and Rural Drivers

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

Looking at these carriers side-by-side, Metromile tends to offer the lowest option for drivers in rural and suburban areas, while Farm Bureau Financial Services wins in urban areas.

Those in rural areas can expect to save about $35 with Metromile compared to Farm Bureau Financial Services. People who live in suburban areas pay around $38 less with Metromile compared to Farm Bureau Financial Services. For policyholders in urban ZIP codes, Farm Bureau Financial Services's average rates are about $13 less than Metromile.

Farm Bureau Financial Services vs. Metromile 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, and the best way to do that is by utilizing as many auto insurance discounts as possible.

But with what seems like a million different discounts out there, it can be challenging to nail down the carrier that has the most discounts for your unique driver profile and to find all the discounts you can take advantage of.

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

Overall, Farm Bureau Financial Services has the advantage when it comes to total number of discounts. Metromile offers a grand total of four discounts, while Farm Bureau Financial Services has nine.

A couple of those are overlapping for things like discounts for being a good driver. Farm Bureau Financial Services also offers discounts for anti-theft, defensive driver, good student, and more.

On the other hand, Metromile has a few proprietary discounts of their own for things like multi-policy discounts, online quote discounts, and paperless discounts.

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

You've seen the role certain factors have on your insurance and the different discounts companies offer. But, at the end of the day, which insurance company is the best fit for you?

Metromile might be best for you if....

• You will be the only person on the auto insurance policy.
• You want the most robust protection via a "full coverage" policy.
• Your neighborhood is in a rural area.

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

• You care about discounts (Farm Bureau Financial Services offers the most).
• Your home is in a busy urban area.
• You're of retirement age and want to take advantage of lower premiums.

Hopefully, this guide helps you get a better idea of the difference between Farm Bureau Financial Services and Metromile. 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 Metromile. Luckily, Compare.com does all the hard work for you. Simply enter your ZIP code below and get free quotes from dozens of the top auto insurance companies in your area, all in just a few minutes.

Farm Bureau Financial Services vs. Metromile FAQs

Is Farm Bureau Financial Services or Metromile cheaper?

Metromile is the cheaper of the two carriers when looking at national average rates, with policies averaging $150 a month with Metromile and $170 for Farm Bureau Financial Services. But that doesn't mean Metromile will be the most affordable carrier for each policyholder, since there are a bunch of different variables (things like driving record, age, gender, etc.) that play a role in how much you pay.

Who is better, Farm Bureau Financial Services or Metromile?

Unfortunately, the answer truly is "it depends.". No one company is "better" for everyone -- it all depends on what your unique car insurance profile looks like. For example, Farm Bureau Financial Services is more affordable for drivers who have already retired, while Metromile offers less expensive premiums for single drivers.

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

Insurance companies use a lot of different factors when calculating the prices they charge. Things like gender, where you call home, your driving record, age, and sometimes even things like your credit score can all be used. Both Farm Bureau Financial Services and Metromile calculate rates using different formulas, so it's likely they'll offer different premiums. The best way to determine which carrier is the cheapest for you is by comparing personalized quotes from a range of different carriers.

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

The only way to find the car insurance company that's right for you is by getting quotes from multiple 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. That way, you can guarantee you're getting the lowest price. And maybe you'll find that the best carrier for you isn't Farm Bureau Financial Services or Metromile 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.