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

Quick Facts

• Looking at the national averages for car insurance, Farm Bureau Financial Services offers significantly less expensive prices than The General
• Farm Bureau Financial Services offers more affordable rates for single people who will be the only person on the auto insurance policy
• Farm Bureau Financial Services has cheaper premiums for policyholders who live in suburban areas

Farm Bureau Financial Services or The General: Which Company has the Cheapest Car Insurance?

Are you considering a new insurance policy? With so many ads from all sorts of companies offering large 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 The General for your next policy, but between the two, which carrier has more affordable prices for car insurance?

Looking at the national average rates for both carriers, Farm Bureau Financial Services has average rates that are around 30% a month less expensive than those from The General.

But Farm Bureau Financial Services may not be the lowest or best option for every single driver out there. After all, insurance companies can offer drastically different rates to every driver depending on rating factors like your age, your driving record, where you call home, or even your credit score (among other things), so rates could change drastically from person to person.

Luckily, we've broken down average premiums from both Farm Bureau Financial Services and The General by many different rate factors, so read on to find out which company is the best for you.

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

Farm Bureau Financial Services and The General only compete against each other in two states, with Farm Bureau Financial Services offering more affordable prices to the average driver in all of them. Arizona has the most noticable difference, where Farm Bureau Financial Services rates are $44 cheaper than auto insurance prices at The General.

That being said, there are plenty of other factors that go into your insurance cost than just where you live. Keep reading to learn more.

Which is the Best Company For Young Drivers?

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

Even so, that doesn't mean teen drivers can't still save money on their auto insurance. As you can see above, teens who use Farm Bureau Financial Services save over 25% per month compared to those who use The General.

However, with both carriers, you'll see your premiums lower significantly by the time you turn 25. For example, average rates for Farm Bureau Financial Services policyholders drop almost 55% and The General's prices reduce more than 45% over that time.

Which is the Best Company for Retired Drivers?

Once you approach retirement age, you'll typically enjoy the most affordable 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 car insurance.

But who has the best prices for retired drivers between Farm Bureau Financial Services and The General? Farm Bureau Financial Services gets the edge, with rates for drivers 65 and older nearly 35% more affordable than the national average for The General.

Which is the Best Company for Married Drivers?

Did you know that auto insurance premiums are usually cheaper for married couples than they are for single policyholders? That's because policies for married policyholders normally cover several vehicles, which many companies will give you a discount for.

For those who are single, the difference in average prices between these two carriers is significant, with Farm Bureau Financial Services rates coming in at a third less than The General's. The advantage is also clear for married drivers - Farm Bureau Financial Services offers the cheapest average premiums.

Farm Bureau Financial Services or The General: 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 usually end up paying a little more.

Surprisingly, with Farm Bureau Financial Services, women generallypay about 3% more a month than men, and over 10% less with The General when compared to their male counterparts.

Looking at the data for each carrier specifically, Farm Bureau Financial Services offers the most affordable average prices for both men and women. On average, women save about $52 per month and men save around $89 with Farm Bureau Financial Services compared to the average The General policyholder.

Farm Bureau Financial Services vs. The General: 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 car insurance can be a complicated subject for most people. There are so many different terms and coverages that it can make it pretty confusing to find the right policy for you.

That being said, the most common policies that drivers look at fall into two categories -- liability coverage (which provides property damage and bodily injury coverage for other drivers and passengers if you cause a collision) and full coverage (which typically refers to having collision and comprehensive coverages alongside liability).

Looking specifically at state minimum liability insurance, Farm Bureau Financial Services has the significant edge, with average monthly premiums coming in at $87. If you want a full coverage policy with the same state minimum limits, Farm Bureau Financial Services again has the edge, with policies averaging about $253 a month to The General's $329.

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

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

It's no secret secret that speeding tickets and at-fault collisions lead to higher premiums, but which company -- Farm Bureau Financial Services or The General -- has the lowest rates for drivers with less-than-ideal driving records?

Which Company is Best for Drivers with Speeding Tickets?

Policyholders who use Farm Bureau Financial Services for their auto insurance can normally expect their monthly bill to go up around 17% after getting a speeding ticket. The General policyholders can expect a bit more drastic of an increase of about 20%.

Even so, Farm Bureau Financial Services tends to offer the best prices for both drivers who have a recent ticket and those with clean records. With Farm Bureau Financial Services, drivers with a clean record can save around $71 per month and drivers with a speeding ticket can save about $94 a month.

Which Company is Best for Drivers After an Accident?

After an accident, drivers who have their car insurance through Farm Bureau Financial Services can expect to see around an $66 -- or about 35% -- rise in their insurance prices. Drivers who use The General for their auto insurance will see a monthly bill around $87 (or 31%) more expensive after reporting an accident to their car insurance carrier.

At the end of the day, Farm Bureau Financial Services offers the cheapest premiums for drivers with an at-fault collision on their records, with average prices coming in at $187 compared to The General's $279.

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 a collision. For example, Farm Bureau Financial Services increases average rates by more than $100 per month -- that's more than a 45% increase.

But if you end up with a DUI charge and are looking for more affordable premiums, Farm Bureau Financial Services tends to be less expensive for the average driver, with monthly premiums coming in at about $226 to The General's $254.

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

You may not have known, but your credit score can be used as one of the variables to determine your monthly insurance rates. This isn't true for everyone (for example, California and Massachusetts are two states that ban the practice entirely), but it will come into play for several drivers.

The reasoning car insurance carriers use is that policyholders 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 more affordable prices.

Looking at Farm Bureau Financial Services and The General specifically, which company has the most affordable premiums for drivers at different credit levels?

Which Company is Best for Drivers with Good Credit?

If you have a solid credit score, Farm Bureau Financial Services will usually reward you the most. For policyholders with "excellent" credit scores, Farm Bureau Financial Services comes in nearly 27.84 less expensive. Drivers with "good" credit scores typically save around 35% with Farm Bureau Financial Services compared to average prices from The General.

Which Company is Best for Drivers with Bad Credit?

Farm Bureau Financial Services typically offers lower rates than The General when it comes to drivers with less-than-stellar credit. Drivers with "fair" credit pay about 35% a month less with Farm Bureau Financial Services compared to The General, and those with "poor" scores generally save an average of around 22% monthly.

Is Farm Bureau Financial Services or The General 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. Typically, those who drive less will end up with cheaper premiums since there's less of a chance of causing an accident 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 The General charges. However, there's a small difference in monthly prices for Farm Bureau Financial Services, with policyholders who drive the least paying about $11 less each month compared to those who drive 12,000 miles every year. Still, for drivers in both categories, Farm Bureau Financial Services is the more affordable company.

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

Where you park your car can play a considerable role in how much you pay for insurance. Usually, if you live in a rural area with fewer cars on the road, you'll pay a little less for car insurance, while the opposite is true for people in urban areas.

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

Those in rural areas can expect to pay around $155 a month with Farm Bureau Financial Services compared to The General's $189. Drivers in suburban ZIP codes pay about $159 with Farm Bureau Financial Services compared to The General's $225 per month. For drivers in urban ZIP codes, Farm Bureau Financial Services's average prices are around $196 per month compared to The General's $310.

Farm Bureau Financial Services vs. The General Discounts

You want to save as much money as you can, right? The best way to do that is by taking advantage of as many auto insurance discounts as possible.

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.

Luckily, we did the hard work for you and broke down all of the different discounts offered by both Farm Bureau Financial Services and The General 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, Farm Bureau Financial Services has advantage when it comes to total number of discounts. The General offers a grand total of six discounts, while Farm Bureau Financial Services has nine.

Both carriers offer many of the same discounts -- like discounts for being a defensive driver and paid in full discounts -- but Farm Bureau Financial Services also offers discounts for anti-theft, good driving, good student, and more.

On the other hand, The General has a few proprietary discounts of their own for things like group discounts, homeowner discounts, liability only discounts, and more.

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

So, you've seen how different factors can affect your insurance rates. We've shown you all the discounts each company offers, too. But, at the end of the day, is Farm Bureau Financial Services or The General the right one for you and your specific needs?

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

• You want to save money on your auto insurance after a collision.
• You want the most robust protection via a "full coverage" policy.
• You don't spend much time in your car.

The General might be best for you if...

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

Hopefully, this guide helps you get a good idea of the differences between Farm Bureau Financial Services and The General. We also hope we've given you the information you need to make the best decision about your car insurance.

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

Farm Bureau Financial Services vs. The General FAQs

Is Farm Bureau Financial Services or The General cheaper?

Farm Bureau Financial Services is the cheaper of the two companies when looking at national average prices, with policies averaging $170 a month with Farm Bureau Financial Services and $241 for The General. However, that doesn't mean Farm Bureau Financial Services will be the most affordable carrier for each policyholder, since there are multiple different variables that come into play when it comes to your insurance payment.

Who is better, Farm Bureau Financial Services or The General?

Unfortunately, the answer truly is "it depends.". No one company is necessarily "better" for everyone -- it all depends on the makeup of your unique auto insurance profile.

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

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

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

The only way to find the car insurance company that's right for you is by getting quotes from a handful of 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 ZIP code and you'll get quotes from dozens of your local top auto insurance companies for free. That way, you can guarantee you're getting the lowest premium. And maybe you'll find that the best carrier for you isn't Farm Bureau Financial Services or The General 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.