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

Quick Facts

• Looking at the national averages for auto insurance, Hastings Mutual offers significantly cheaper premiums than Farm Bureau
• Hastings Mutual offers more affordable prices for policyholders who live in suburban areas
• Hastings Mutual tends to be a much more affordable option for policyholders who live in rural neighborhoods

Farm Bureau or Hastings Mutual: Which Company has the Cheapest Car Insurance?

Are you in the market for a new insurance policy? After all, you've seen ads from all sorts of companies offering large savings. But exactly how much can you save by switching?

You might be considering Farm Bureau or Hastings Mutual for your next policy, but between the two, which company will offer you less expensive premiums?

Looking at nationwide averages, Farm Bureau has average rates that are around 40% a month more expensive than those from Hastings Mutual.

However, Hastings Mutual may not be the most affordable or best option for each driver out there. Insurance carriers vary their prices depending on things like where you live, how good your credit score is, how clean your driving record is, how old you are, and tons of other factors, so rates could change drastically from person to person.

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

Farm Bureau vs. Hastings Mutual: Average Car Insurance Rates by State

Farm Bureau and Hastings Mutual only compete against each other in Michigan, where Farm Bureau offers the cheaper average premiums. Undefined drivers tend to pay about undefined per month less on average compared to drivers who use undefined for their auto insurance.

There are plenty of other factors that go into your insurance bill than just where you call home. Continue reading to see how other variables will affect your rates.

Which is the Best Company For Young Drivers?

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

That being said, that doesn't mean teen drivers can't still save money on their insurance. As you can see above, teens who use Hastings Mutual save over 25% a month compared to those who use Farm Bureau.

Even so, with both companies, you'll see your rates lower significantly by the time you turn 25. Hastings Mutual offers the steepest decrease, with 25-year-olds paying less than half what 18-year-old drivers are charged. Farm Bureau's average prices reduce almost 25% during that same period.

Which is the Best Company for Retired Drivers?

Drivers around retirement age usually enjoy some of the cheapest auto insurance rates you'll ever see. After all, they've likely been driving for quite some time, which typically decreases their chances of collisions and other infractions that can raise premiums.

When looking at Farm Bureau and Hastings Mutual specifically, which carrier is best for retired drivers? Hastings Mutual gets the edge here, with average rates coming in at about $167 a month compared to Farm Bureau's $290.

Which is the Best Company for Married Drivers?

Did you know that car insurance premiums are generally more affordable for married drivers than they are for single policyholders? That's typically because married couples tend to own and insure multiple vehicles, which can often earn you a discount.

For single drivers, the difference in average prices between these two carriers is significant, with Hastings Mutual premiums coming in at a third less than Farm Bureau's. The advantage for married policyholders with Hastings Mutual is also obvious, where drivers save nearly 45% per month.

Farm Bureau or Hastings Mutual: Average Rates by Gender

Men tend to pay more for insurance than women. This is because men are statistically more likely than women to get tickets and get into collisions, which leads to increased risk for insurers and, therefore, higher rates.

Women and men end up paying same monthly prices with Farm Bureau, but with Hastings Mutual, the difference is closer to 2% a month.

Looking at overall affordability, Hastings Mutual comes out on top for both men and women, with average premiums $130 less for men and $135 cheaper for women.

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

But most policies end up falling into two different types of coverage -- liability coverage (which provides bodily injury and property damage coverage for other drivers and passengers if you cause a collision) and full coverage (which normally refers to having collision and comprehensive coverages alongside liability).

Looking specifically at state minimum liability limits, Hastings Mutual has the significant edge, with average monthly rates coming in at $142. If you want a full coverage policy with the same state minimum limits, Hastings Mutual again has the edge, with policies averaging around $279 per month to Farm Bureau's $468.

Is Farm Bureau or Hastings Mutual 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.

You'll probably end up paying more with at-fault accidents and speeding tickets on your record, but which of these two companies offers the lowest prices to drivers with less-than-ideal driving records?

Which Company is Best for Drivers with Speeding Tickets?

Policyholders who use Farm Bureau for their car insurance can generally expect their monthly bill to go up about 32% after getting a speeding ticket. Hastings Mutual policyholders can expect a less drastic increase of around 16%.

However, Hastings Mutual tends to offer the best prices for both drivers who have clean records and those with a recent ticket, offering premiums that are 46% and 56% cheaper, respectively, compared to Farm Bureau Insurance of Michigan.

Which Company is Best for Drivers After an Accident?

Farm Bureau drivers who get in an accident can expect to see their rates increase by over $30, while those who have insurance through Hastings Mutual will see about a $15 increase.

At the end of the day, the less expensive prices come from Hastings Mutual, with average premiums coming in at $126 compared to Farm Bureau Insurance of Michigan's $233.

Which Company is Best for Drivers with a DUI?

On average, a DUI offense is going to cost you much more than a single collision or speeding ticket when it comes to your auto insurance bill. For example, Farm Bureau increases average rates by nearly $450 a month -- that's nearly a 70% increase.

But if you end up with a DUI charge and are looking for more affordable prices, Hastings Mutual tends to be more affordable for the average driver, with monthly premiums coming in at around $478 to Farm Bureau's $641.

How does Credit Score Impact Farm Bureau and Hastings Mutual Rates?

Did you know many insurance carriers take your credit score into account when determining rates? This isn't true for everyone (for example, Massachusetts and Michigan are two states that ban the practice entirely), but it might come into play for a lot of policyholders.

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.

So, which company offers the cheapest prices for drivers with good, average, or poor credit?

Which Company is Best for Drivers with Good Credit?

Which Company is Best for Drivers with Bad Credit?

Is Farm Bureau or Hastings Mutual 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 substantial impact on how much car insurance carriers will charge for coverage? That's because the fewer miles you put on your car each year, the less likely you are to be in a collision and file an insurance claim.

As you can see in the table above, annual mileage doesn't have much of an impact on how much Hastings Mutual charges. However, there's a small difference in monthly premiums for Farm Bureau, with drivers who put 6,000 miles on their vehicle annually paying about $22 less each month compared to those who drive 12,000 miles every year. Still, for drivers in both categories, Hastings Mutual is the cheaper carrier.

Farm Bureau or Hastings Mutual: Compare Rates for Urban, Suburban, and Rural Drivers

Where you call home 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 auto insurance, while the opposite is true for people in urban areas.

When comparing these two companies side-by-side, Hastings Mutual generally comes out as the most affordable option for drivers in every type of area, no matter if it's urban, suburban, or rural.

For policyholders in urban ZIP codes, Hastings Mutual Insurance Company's average prices are around 36% less than Farm Bureau Insurance of Michigan. People who live in suburban areas pay about 49% less with Hastings Mutual compared to Farm Bureau. Those in rural areas can expect to save around 26% with Hastings Mutual compared to Farm Bureau.

Farm Bureau vs. Hastings Mutual Discounts

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

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

Luckily, we did the hard work for you and broke down all of the different discounts offered by both Farm Bureau and Hastings Mutual so that you can easily see which company offers the most discounts and, therefore, the largest savings.

Overall, Hastings Mutual has the advantage when it comes to total number of discounts. Farm Bureau offers a grand total of five discounts, while Hastings Mutual has 10.

There are a couple discounts both carriers offer, but Hastings Mutual also offers discounts for ABS, company car, defensive driver, and more.

On the other hand, Farm Bureau has a few proprietary discounts of their own for things like advance quote discounts, group discounts, multi-policy discounts, and more.

Final Thoughts: Is Farm Bureau or Hastings Mutual Best for You?

So, you've seen how different factors can affect your insurance premiums. We've broken down the different discounts each company offers, too. That's all well and good, but at the end of the day, which carrier is the right one for you and your specific driver profile?

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

• You're worried about the impact your credit score will have on your prices.
• You're looking for the best rates on liability only coverage.
• You and your spouse are buying auto insurance together.

Farm Bureau 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 better idea of the difference between Farm Bureau and Hastings Mutual and that you can now make a more informed decision when it comes to your car insurance.

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

Farm Bureau vs. Hastings Mutual FAQs

Is Farm Bureau or Hastings Mutual cheaper?

Hastings Mutual is the less expensive of the two companies when looking at national average prices, with policies averaging $211 per month with Hastings Mutual and $343 for Farm Bureau. But that doesn't mean Hastings Mutual will be the lowest company for each driver, since there are a bunch of different variables that come into play when it comes to your car insurance payment.

Who is better, Farm Bureau or Hastings Mutual?

Sadly, the answer truly is "it depends.". No one carrier is "better" for every policyholder -- it all comes down to what your unique insurance profile looks like. For example, Farm Bureau is more affordable for drivers with excellent credit, while Hastings Mutual offers cheaper premiums for drivers with a recent DUI.

Why do Farm Bureau and Hastings Mutual offer me different rates?

Car insurance carriers use several different factors when calculating the rates they charge. Variables like age, your driving record, gender, where you live, and sometimes even things like your credit score can all come into play. Both Farm Bureau and Hastings Mutual use different formulas, so it's likely they'll offer different prices. The best way to determine which company is the cheapest for you is by comparing personalized quotes from multiple different companies.

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

The only way to find the insurance carrier that's right for you is by getting quotes from several carriers and finding the one best suited for your individual budget. Luckily, sites like Compare.com do all the hard work for you. 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 most affordable premium. And maybe you'll find that the best company for you isn't Farm Bureau or Hastings Mutual 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.