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

Quick Facts

• Based on national averages for auto insurance, Farm Bureau Financial Services offers cheaper prices than National Mutual
• Farm Bureau Financial Services offers less expensive average rates for residents of rural areas
• National Mutual offers more affordable prices for drivers who have received a ticket within the last few years

Farm Bureau Financial Services vs. National Mutual: Which Company has the Cheapest Car Insurance?

So, you're thinking about switching your auto insurance. After all, you've seen ads from all sorts of companies offering hefty discounts. But exactly how much can you save by switching?

You've maybe even narrowed it down to Farm Bureau Financial Services or National Mutual, but which one has more affordable premiums for insurance?

Looking at nationwide averages, Farm Bureau Financial Services has average rates that are about 15% per month less expensive than those from National Mutual.

Even so, that doesn't necessarily mean Farm Bureau Financial Services will be the more affordable option for every single driver. Auto insurance companies use a variety of complex algorithms to calculate prices, so depending on where you live or how clean your driving record is (among a range of other factors), you could see wildly different premiums from the ones above.

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

Farm Bureau Financial Services or National Mutual: Average Car Insurance Rates by State

Farm Bureau Financial Services and National Mutual only compete against each other in one states, with Farm Bureau Financial Services offering cheaper premiums to the average driver in all of them. Iowa has the most noticable difference, where Farm Bureau Financial Services rates are over 70% more affordable than car insurance prices at National Mutual.

But there's more to insurance than just your home state. As we mentioned above, there's a lot of things that go into how auto insurance carriers determine your rates. Read on to find out more.

Which is the Best Company For Young Drivers?

Young drivers -- especially teens -- normally pay a lot for car insurance compared to older drivers. It's generally because young, inexperienced drivers are statistically much more likely to cause collisions and other accidents that will result in an insurance claim.

However, that doesn't mean teen drivers can't still save money on their insurance. As you can see above, teens who use Farm Bureau Financial Services save nearly $150 a month compared to those who use National Mutual.

But both companies will reduce premiums by the time drivers turn 25. National Mutual offers the steepest reduction, with 25-year-olds paying less than a third of what 18-year-old drivers are charged. That being said, Farm Bureau Financial Services still has the lowest prices at $154 per month.

Which is the Best Company for Retired Drivers?

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

So, which company offers the best premiums to retired drivers? Farm Bureau Financial Services gets the slight edge here, with average prices coming in at around $127 monthly compared to National Mutual's $134.

Which is the Best Company for Married Drivers?

Those who are single tend to get offered slightly more expensive auto insurance premiums than married policyholders. That's typically because married couples tend to own and insure several cars, which can often earn you a discount.

When it comes to relationship status, Farm Bureau Financial Services is the clear winner for single drivers, with rates about $46 per month cheaper than National Mutual, on average. But for married drivers, that advantage is much less clear - Farm Bureau Financial Services offers the most affordable average prices.

Farm Bureau Financial Services vs. National Mutual: Average Rates by Gender

Because men are more likely to get tickets and get into accidents, they have a higher chance of filing a claim with insurance. Therefore, insurance carriers will tend to charge men more than women.

Surprisingly, women generally pay around 3% more a month than men with Farm Bureau Financial Services, and about 10% less with National Mutual.

Looking at overall affordability, Farm Bureau Financial Services offers the cheapest average premiums for both men and women. On average, women save about $18 per month and men save around $44 with Farm Bureau Financial Services compared to the average National Mutual policyholder.

Farm Bureau Financial Services or National Mutual: 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 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.

That being said, the most common policies that many drivers look at fall into two categories -- liability only (which covers the other party's property damage and injuries if you cause an accident) and full coverage (which usually refers to having comprehensive and collision coverages alongside what you get with a liability policy).

If you're looking for state minimum limits for liability insurance, Farm Bureau Financial Services normally offers slightly less expensive rates of $87 compared to National Mutual's $94. When it comes to full coverage policies with similar limits, Farm Bureau Financial Services again has the edge, with policies about $55 a month cheaper than National Mutual, on average.

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

It's no big secret that drivers who are accident-free get better deals on their auto insurance. But even if you have a spotty record, you can still find plenty of ways to save some cash on your monthly bill.

It's no secret secret that tickets and at-fault accidents lead to higher prices, but which carrier -- Farm Bureau Financial Services or National Mutual -- has the lowest premiums for drivers with less-than-ideal driving records?

Which Company is Best for Drivers with Speeding Tickets?

Farm Bureau Financial Services policyholders can expect their rates to go up an average of $25 per month if they get a ticket, while National Mutual typically raises premiums around $11 a month, on average.

If you have a clean record, Farm Bureau Financial Services tends to offer the best prices at about 8% more affordable, while National Mutual has the edge for drivers with a speeding ticket.

Which Company is Best for Drivers After an Accident?

Farm Bureau Financial Services drivers who get in a collision can expect to see their rates rise by over $65, while those who have insurance through National Mutual will see around a $75 increase.

Overall, drivers who use Farm Bureau Financial Services end up with the cheaper prices after an accident, with monthly premiums averaging $187 compared to National Mutual Insurance's $207.

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 an accident. National Mutual drivers usually see a 60% raise in their insurance prices after a DUI charge, while Farm Bureau Financial Services will usually climb rates by about 46%.

If you have a DUI on your record and are looking for more affordable premiums, Farm Bureau Financial Services tends to be the much less expensive option with average rates of $226 a month compared to $325 from National Mutual.

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

You may not have known, but your credit score can be used as one of the factors to calculate your monthly car insurance prices. This isn't always the case (for example, Hawaii and Michigan are two states that ban the practice entirely), but it might come into play for quite a few policyholders.

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

Looking at Farm Bureau Financial Services and National Mutual specifically, which carrier has the most affordable rates for drivers at different credit levels?

Which Company is Best for Drivers with Good Credit?

If you have a great credit score, you'll usually find a better deal with National Mutual for an "excellent" credit score. Policyholders with "excellent" credit can save 1% compared to Farm Bureau Financial Services, while those with "good" scores can expect to see better savings from Farm Bureau Financial Services -- around $21 or 13% cheaper than National Mutual every month.

Which Company is Best for Drivers with Bad Credit?

Farm Bureau Financial Services typically offers lower prices than National Mutual when it comes to drivers with bad credit. Drivers with "fair" credit pay about $61 per month less with Farm Bureau Financial Services compared to National Mutual, and those with "poor" scores generally save an average of around $43 monthly.

Is Farm Bureau Financial Services or National Mutual 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 how much car insurance carriers will charge for coverage. Typically, the more miles you put on your vehicle each year, the more you can expect to pay for coverage.

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

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

Where you park your vehicle can have a substantial impact on your monthly insurance cost. Normally, those who live in rural areas will pay less than drivers in urban areas because there are a lot fewer cars on the roads in those areas.

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

For policyholders in urban ZIP codes, Farm Bureau Financial Services offers rates around $196 a month compared to National Mutual's $214. People who live in suburban ZIP codes can expect to pay about $159 a month for Farm Bureau Financial Services and $201 for National Mutual. Lastly, those in rural areas tend to get the lowest premiums from both companies, with average monthly rates coming in at $155 and $189 for Farm Bureau Financial Services and National Mutual respectively.

Farm Bureau Financial Services vs. National Mutual 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. That's where insurance discounts comes into play.

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

In the section below, we've taken a look at all of the different discounts Farm Bureau Financial Services and National Mutual offer their customers so that you can find the company that has the most discounts and, therefore, the biggest savings.

National Mutual knocks Farm Bureau Financial Services out of the park when it comes to the sheer number of discounts available, offering 10 more discounts than Farm Bureau Financial Services.

There are a couple discounts both carriers offer, but National Mutual also offers advance quote discounts, claim free discounts, continuous insurance 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 National Mutual Best for You?

So, we've broken down the average prices for many of the variables auto insurance companies look at, and walked through the different discounts each company offers, too. That's all well and good, but at the end of the day, which carrier is the best one for you and your specific driver profile?

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

• You want to save money on your insurance after a collision.
• You want basic auto insurance coverage at the state minimum limits.
• You are over 65 years old and want to save some money on your car insurance.

National Mutual might be best for you if...

• You have received a ticket within the last few years.
• You want to save extra money with discounts.

We hope this guide has ben a valuable resource as you compare Farm Bureau Financial Services and National Mutual. We also hope we've given you the information you need to make the best decision when it comes to your auto insurance.

At the end of the day, the sure-fire way to make sure you're getting the best deal on your car insurance policy is to compare quotes from multiple carriers, not just Farm Bureau Financial Services and National Mutual. Luckily, sites like Compare.com make it easy for you to do just that. Simply enter your ZIP codes below and get multiple free quotes from some of the best insurance companies in your area, all in just a few minutes.

Farm Bureau Financial Services vs. National Mutual FAQs

Is Farm Bureau Financial Services or National Mutual cheaper?

Looking just at the national average rates, Farm Bureau Financial Services is the more affordable of the two carriers, offering average rates of $170 per month compared to $201 for National Mutual. Even so, Farm Bureau Financial Services won't necessarily be the most affordable company for each policyholder, since there are many different factors that come into play when it comes to your car insurance payment.

Who is better, Farm Bureau Financial Services or National Mutual?

Sadly, the answer truly is "it depends.". Neither carrier is "better" for every driver -- it all depends on the makeup of your unique auto insurance profile. For example, Farm Bureau Financial Services offers less expensive premiums for drivers with a recent DUI, while National Mutual is more affordable for drivers with excellent credit.

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

Insurance companies take a look at a lot of different variables when calculating the prices they charge drivers. Things like your driving record, age, gender, where you call home, and sometimes even things like your credit score can all be taken into consideration. Both Farm Bureau Financial Services and National Mutual calculate rates using different factors, so each one will most likely offer different prices. The only real way to see which company is the lowest for you is by comparing personalized quotes from a range of different carriers.

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

The only way to find the car insurance carrier 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 does all the hard work for you. Just enter your area information and you'll get free quotes from dozens of the best insurance carriers in your area. With those, you can guarantee you're getting the cheapest price. And who knows, the best company for you might not be Farm Bureau Financial Services or National Mutual 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.