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

Quick Facts

• Based on national averages for insurance, Partners Mutual offers significantly more affordable premiums than Farm Bureau Financial Services
• Farm Bureau Financial Services offers more discounts than Partners Mutual Insurance
• Partners Mutual offers more affordable prices for people who are single and purchasing auto insurance by yourself

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

So, you're considering switching your auto insurance. You've probably seen commercials and billboards from companies offering large discounts, but exactly how much money can you save by switching?

You might have narrowed your search down to Farm Bureau Financial Services or Partners Mutual, but which carrier will offer you less expensive premiums?

Looking at nationwide averages, Partners Mutual has average rates that are about 30% per month cheaper than those from Farm Bureau Financial Services.

Even so, Partners Mutual may not be the lowest or best option for each driver out there. After all, car insurance companies can offer drastically different rates to each driver depending on rating factors like your age, your credit score, where you call home, or even your driving record (among other things). So, at the end of the day, prices from every carrier will differ quite a bit from person to person.

Luckily, we've broken down average rates from both Farm Bureau Financial Services and Partners Mutual by a variety of different rate factors, so read on to find out which company is the best for you.

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

Farm Bureau Financial Services and Partners Mutual only compete against each other in Iowa, where Farm Bureau Financial Services offers the cheaper average premiums. For Iowa residents, Farm Bureau Financial Services offers insurance for $111 monthly on average. Partners Mutual's average rates come out to be over 10% more expensive, at $123 a month.

But there's more to calculating auto insurance prices than just where you live. Continue reading to see how other factors will affect your rates.

Which is the Best Company For Young Drivers?

Young drivers -- especially teens -- usually pay a lot for car insurance compared to older drivers. That'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.

That being said, that doesn't mean teen drivers can't still save money on their insurance. For example, 18-year-old drivers pay an average of $90 less a month by choosing Partners Mutual over Farm Bureau Financial Services.

But with both carriers, you'll see your premiums decrease significantly by the time you turn 25. For example, average rates for Farm Bureau Financial Services policyholders reduce nearly 55% and Partners Mutual's prices drop more than 55% over that time.

Which is the Best Company for Retired Drivers?

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

When looking at Farm Bureau Financial Services and Partners Mutual specifically, which carrier is best for retired drivers? Partners Mutual gets the edge, with prices for drivers 65 and older over 20% more affordable than the national average for Farm Bureau Financial Services.

Which is the Best Company for Married Drivers?

Those who are single tend to get offered slightly more expensive car insurance premiums than married policyholders. That's because policies for married drivers typically cover more than one car, which quite a few companies will offer you a discount for.

When it comes to relationship status, Partners Mutual is the clear winner for single policyholders, with prices around $56 per month cheaper than Farm Bureau Financial Services, on average. For married couples, the advantage is clear again - Partners Mutual has the edge when it comes to average rates.

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

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

Surprisingly, women generally pay about $5 a month more than men with Farm Bureau Financial Services, and almost $10 with Partners Mutual.

Looking at the data for each company specifically, Partners Mutual offers the most affordable average prices for both men and women. On average, male drivers save about $41 per month and women save around $54 with Partners Mutual compared to the average Farm Bureau Financial Services policyholder.

Farm Bureau Financial Services or Partners 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.

For most people, car insurance isn't the easiest topic to understand. There are so many different coverages and limits that it can make it pretty confusing to find the right policy.

However, most policies end up falling into two different types of coverage -- liability only (that covers property damage and bodily injury for other drivers and passengers if you cause a collision) 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 liability insurance, Partners Mutual typically offers significantly less expensive rates of $52 compared to Farm Bureau Financial Services's $87. When it comes to full coverage policies with similar limits, Partners Mutual again has the edge, with policies about $60 a month more affordable than Farm Bureau Financial Services, on average.

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

You've probably seen plenty of commercials from auto insurance carriers offering great premiums for good drivers, but that doesn't mean people with less-than-perfect driving records can't save money, too.

Accidents and tickets will most likely raise your prices, but is Farm Bureau Financial Services or Partners Mutual cheaper for drivers with less-than-perfect records?

Which Company is Best for Drivers with Speeding Tickets?

Farm Bureau Financial Services policyholders can expect their premiums to go up an average of $25 per month if they get a ticket, while Partners Mutual normally raises rates around $16 a month, on average.

Even so, Partners Mutual tends to offer the best prices for both drivers who have clean records and those with a recent speeding ticket, offering premiums that are $42 and $51 less expensive, respectively, compared to Farm Bureau Financial Services.

Which Company is Best for Drivers After an Accident?

Both companies will increase prices pretty significantly if you get into an at-fault accident with Farm Bureau Financial Services raising by over $65. Partners Mutual has a less extreme raise, but you can still expect to pay more than $35 more than you were prior to your first collision.

Overall, drivers who use Partners Mutual end up with the cheaper prices after an accident, with monthly rates averaging $115 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. For example, Partners Mutual increases average premiums by over $100 per month -- that's over a 60% increase.

If you have a DUI on your record and are looking for more affordable rates, Partners Mutual tends to be the much more affordable option with average prices of $203 per month compared to $226 from Farm Bureau Financial Services.

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

In many cases, your credit score can be used as one of the variables to calculate your monthly auto insurance rates. This isn't always the case (for example, Massachusetts and Hawaii are two states that ban the practice entirely), but it does affect lots of drivers out there.

The reasoning car 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 premiums, while those with poor credit will usually be forced to pay more.

Looking at Farm Bureau Financial Services and Partners Mutual specifically, which company has the lowest prices for drivers 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 Partners Mutual. Policyholders with "excellent" credit can save just under 30% compared to Farm Bureau Financial Services, and those with "good" scores can also expect to see savings -- about $32 or 23% cheaper each month.

Which Company is Best for Drivers with Bad Credit?

Partners Mutual typically offers lower premiums than Farm Bureau Financial Services when it comes to drivers with bad credit. Drivers with "fair" credit pay around $34 a month less with Partners Mutual compared to Farm Bureau Financial Services, and those with "poor" scores normally save an average of about $88 a month.

Is Farm Bureau Financial Services or Partners 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 auto insurance companies will charge for coverage. That's because the fewer miles you put on your vehicle each year, the less likely you are to get into an accident and cause an insurance claim.

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

Farm Bureau Financial Services vs. Partners Mutual: 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 substantial impact as well. Typically, those who live in rural areas will pay less than drivers in urban areas because of the small number of cars that are on the roads in those areas.

Partners Mutual boasts the most affordable average premiums for drivers in all types of areas, no matter if they're urban, suburban, or rural.

In urban areas, Partners Mutual Insurance's average rates are about 27% less than Farm Bureau Financial Services. Drivers in suburban ZIP codes pay around 32% less with Partners Mutual compared to Farm Bureau Financial Services. If you live in a rural area, you can expect to save about 24% with Partners Mutual compared to Farm Bureau Financial Services.

Farm Bureau Financial Services vs. Partners 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, and the best way to do that is by taking advantage of as many auto insurance discounts as you can.

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

In the table below, we've broken down all of the different discounts offered by both Farm Bureau Financial Services and Partners Mutual so that you can see which one can save you the most money each month.

Looking at the total number of discounts, Farm Bureau Financial Services has a slight advantage when it comes to total number of discounts. Partners Mutual offers a grand total of eight discounts, while Farm Bureau Financial Services has nine.

Both carriers offer quite a few of the same discounts -- like anti-theft discounts and paid in full discounts -- but Farm Bureau Financial Services also offers defensive driver discounts, good driving discounts, good student discounts, and more that Partners Mutual does not.

On the flip side, Partners Mutual has a couple unique discounts of its own -- ABS discounts, advance quote discounts, ESC discounts, and more.

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

So, we've broken down the average prices for many of the factors car insurance companies look at, and we've shown you all the discounts each carrier offers. But, when it comes down to it, is Farm Bureau Financial Services or Partners Mutual the right carrier for you, your vehicle, and your wallet?

Partners Mutual might be best for you if....

• You're single and purchasing insurance by yourself.
• Your neighborhood is in the suburbs.
• You're buying car insurance for a teen and looking for a wallet-friendly option.

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

• You want to save extra money with discounts.

We hope this guide helps you get a good idea of the differences between Farm Bureau Financial Services and Partners Mutual and that you can now make a more informed decision when it comes to your auto 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 multiple carriers, not just Farm Bureau Financial Services and Partners Mutual. Luckily, sites like Compare.com make it easy for you to do just that. Just enter your ZIP code below and get multiple quotes from some of the best auto insurance companies in your area, all for free.

Farm Bureau Financial Services vs. Partners Mutual FAQs

Is Farm Bureau Financial Services or Partners Mutual cheaper?

Looking just at the national average premiums, Partners Mutual is the more affordable of the two carriers, offering average rates of $123 per month compared to $170 for Farm Bureau Financial Services. That being said, Partners Mutual won't necessarily be the lowest company for every driver, since there are a bunch of different variables (things like age, driving record, gender, etc.) that play a role in how much you pay.

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

Unfortunately, the real answer is "it depends.". Neither carrier is "better" for each driver -- it all depends on what your unique insurance profile looks like.

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

Car insurance companies take a look at a lot of different factors when calculating the rates they charge policyholders. Things such as where you call home, where your home is, gender, age, and sometimes even things like your credit score can all be taken into consideration. Both Farm Bureau Financial Services and Partners Mutual calculate prices differently, so each one will most likely offer different premiums. The only real way to see which company is the most affordable for you is by comparing personalized quotes from lots of different carriers.

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

The only way to find the auto insurance carrier that's right for you is by getting quotes from several 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 ZIP code and you'll get free quotes from dozens of the best car insurance carriers in your area. That way, you can guarantee you're getting the cheapest premium. And who knows, the best company for you might not be Farm Bureau Financial Services or Partners 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.