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

Quick Facts

• Looking at the national averages for insurance, Farmers offers significantly cheaper rates than Farm Bureau
• Farmers has more affordable prices for policyholders who live in suburban areas
• Farmers offers less expensive average premiums for couples purchasing auto insurance together

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

So, you're considering switching your auto insurance. With so many ads from all sorts of companies offering big discounts, you're probably wondering exactly how much you might be able to save.

You've maybe even narrowed it down to Farm Bureau or Farmers as your top options, but between the two, which one will offer you more affordable rates?

As you can see, Farmers has average rates that are about 40% per month cheaper than those from Farm Bureau when looking at the national average rates for car insurance.

However, that doesn't mean Farmers will necessarily be less expensive than Farm Bureau for every single driver. Insurance companies use all sorts of complex algorithms to calculate prices, so depending on how old you are or where you live (among quite a few other factors), you could see wildly different premiums from the ones above.

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

Farm Bureau or Farmers: Average Car Insurance Rates by State

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But there's more to calculating auto insurance rates than just your home state. Continue reading to see how other factors will affect your rates.

Which is the Best Company For Young Drivers?

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

That being said, that doesn't mean that teen drivers have to just accept sky-high auto insurance premiums. For example, 18-year-old drivers pay an average of nearly $50 less a month by choosing Farm Bureau over Farmers.

Even so, with both carriers, you'll see your prices drop significantly once you turn 25. Farmers offers the steepest drop, with 25-year-olds paying less than a third of what 18-year-old drivers are charged. Farm Bureau's average rates reduce almost 25% during that same period.

Which is the Best Company for Retired Drivers?

Drivers around retirement age generally enjoy some of the lowest car insurance premiums you'll ever find. After all, they've likely been driving for quite some time, which usually decreases their chances of accidents and other infractions that can increase prices.

But who has the best rates for retired drivers between Farm Bureau and Farmers? Farmers gets the edge, with premiums for drivers 65 and older more than 50% more affordable than the national average for Farm Bureau.

Which is the Best Company for Married Drivers?

Did you know that insurance rates are generally more expensive for single policyholders than they are for married policyholders? That's because policies for married drivers usually cover more than one car, which quite a few companies will offer you a discount for.

When it comes to relationship status, Farmers is the clear winner for single drivers, with premiums around $116 per month cheaper than Farm Bureau, on average. The advantage for married couples with Farmers is also obvious, where drivers save over $150 a month.

Farm Bureau vs. Farmers: Average Rates by Gender

Men are statistically more likely than women to get into collisions and file an insurance claim, which means they'll normally end up paying more for auto insurance than women.

Women and men end up paying same monthly prices with Farm Bureau, and about $7 with Farmers.

Looking at the data for each company specifically, Farmers comes out on top for both men and women, with average rates 40% less for men and 42% cheaper for women.

Farm Bureau or Farmers: 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 pretty complicated. There are so many different terms and limits that it can make it pretty confusing to find the right policy.

But most policies end up falling into two different types of coverage -- liability only (that covers bodily injury and property damage for other drivers and passengers if you cause an accident) and full coverage (which includes two additional coverages -- comprehensive and collision -- in addition to what you get with liability).

If you're looking for state minimum liability insurance, Farmers typically offers significantly less expensive premiums of $126 compared to Farm Bureau's $218. When it comes to full coverage policies with similar limits, Farmers again has the edge, with policies around $200 per month more affordable than Farm Bureau, on average.

Is Farm Bureau or Farmers Better for Drivers with Spotty Records?

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

Tickets and accidents will most likely raise your prices, but is Farm Bureau or Farmers less expensive for drivers with spotty records?

Which Company is Best for Drivers with Speeding Tickets?

Farm Bureau policyholders can expect their premiums to go up an average of $94 a month if they get a ticket, while Farmers usually raises rates about $44 per month, on average.

Even so, Farmers has cheaper prices for drivers in both categories -- their rates are around 20% less expensive for drivers with clean records and 30% cheaper for those with a ticket.

Which Company is Best for Drivers After an Accident?

Both carriers will raise rates pretty significantly if you get into an at-fault accident with Farmers increasing by over $60. Farm Bureau has a less extreme climb, but you can still expect to pay more than $30 more than you were prior to your first collision.

Overall, Farmers offers the cheapest premiums for drivers with an at-fault accident on their records, with monthly prices averaging $224 compared to Farm Bureau Insurance of Michigan's $233.

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 a collision. For example, Farm Bureau increases average premiums by just under $450 a month -- that's just under a 70% increase.

How does Credit Score Impact Farm Bureau and Farmers Rates?

In many cases, your credit score can come into play when companies determine your monthly bill. This isn't always the case (for example, Massachusetts and California are two states that ban the practice entirely), but it might come into play for many drivers.

The reasoning auto 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 rates, while those with poor credit will typically be forced to pay more.

Looking specifically at Farm Bureau and Farmers, which company has the best prices for drivers at different credit levels?

Which Company is Best for Drivers with Good Credit?

Which Company is Best for Drivers with Bad Credit?

Is Farm Bureau or Farmers 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 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 Farmers charges. However, there's a small difference in monthly premiums for Farm Bureau, with policyholders who drive 6,000 miles annually paying around $22 less each month compared to those who drive 12,000 miles every year. Still, Farmers is the more affordable option for drivers in both categories.

Farm Bureau vs. Farmers: 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 car insurance, but the type of area you live in can have a considerable impact as well. Generally, if you live in a rural area with fewer cars on the road, you'll pay a little less for insurance, while the opposite is true for people in urban areas.

Farmers tends to offer the cheapest prices for drivers in all areas, regardless of if they're urban, suburban, or rural.

For policyholders in urban ZIP codes, Farmers offers premiums about $251 monthly compared to Farm Bureau's $457. People who live in suburban ZIP codes can expect to pay around $189 per month for Farmers and $349 for Farm Bureau. Lastly, those in rural areas tend to get the lowest prices from both carriers, with average monthly rates coming in at $170 and $223 for Farmers and Farm Bureau respectively.

Farm Bureau vs. Farmers 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 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 section below, we've broken down all of the different discounts offered by both Farm Bureau and Farmers so that you can see which carrier offers the most discounts and see which ones you might be able to take advantage of.

Farmers knocks Farm Bureau out of the park when it comes to the sheer number of discounts available, offering 28 different discounts to Farm Bureau's 28.

There are a couple discounts both companies offer, but Farmers also offers ABS discounts, alternative fuel discounts, defensive driver discounts, and more that Farm Bureau does not.

On the flip side, Farm Bureau has a unique discount of its own -- a term discounts.

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

So, you've seen how different variables can affect your insurance prices. We've broken down the different discounts each carrier offers, too. But, when it comes down to it, which company is the best fit for you?

Farmers might be best for you if....

• You don't have any speeding tickets, DUIs, or at-fault collisions on your record.
• You want to save extra money with discounts.
• Your home is located in the suburbs.

Farm Bureau might be best for you if...

• You're buying car insurance for a teen and looking for a wallet-friendly option.

We hope this guide has ben a valuable resource as you compare Farm Bureau and Farmers and that it aids in making a more informed decision about your auto insurance.

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

Farm Bureau vs. Farmers FAQs

Is Farm Bureau or Farmers cheaper?

Looking just at the national average rates, Farmers is the less expensive of the two carriers, offering average rates of $203 a month compared to $343 for Farm Bureau. But Farmers won't necessarily be the most affordable carrier for each driver, since there are many different factors (things like gender, age, driving record, etc.) that play a role in how much you pay.

Who is better, Farm Bureau or Farmers?

Sadly, the answer truly is "it depends.". No single company is "better" for everyone -- it all comes down to what your unique auto insurance profile looks like. For example, Farmers offers cheaper premiums for drivers with a recent DUI, while Farm Bureau is more affordable for drivers with excellent credit.

Why do Farm Bureau and Farmers offer me different rates?

Car insurance companies take a look at a lot of different variables when calculating the prices they charge drivers. Factors like where you park your car, age, where you live, gender, and sometimes even things like your credit score can all be taken into consideration. Both Farm Bureau and Farmers use different formulas, so each one will most likely offer different rates. The only real way to see which carrier is the lowest for you is by comparing personalized quotes from multiple different carriers.

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

The only way to find the auto insurance company 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 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. That way, you can guarantee you're getting the cheapest premium. And who knows, the best carrier for you might not be Farm Bureau or Farmers 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.