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

Quick Facts

• Looking at the national averages for insurance, Metlife offers slightly more affordable premiums than Farm Bureau
• Farm Bureau offers more affordable rates for single people who will be the only person on the auto insurance policy
• Metlife tends to be a much less expensive option for drivers who have a speeding ticket on their driving record

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

Are you considering a new insurance policy? You've probably seen commercials and billboards from companies offering large savings, but exactly how much money can you save by switching?

You might have narrowed your search down to Farm Bureau or Metlife as potential options, but which company has cheaper premiums for insurance?

As you can see, Farm Bureau is around $3 more a month than Metlife when looking at the national average rates for car insurance.

Even so, that doesn't mean Metlife will necessarily be less expensive than Farm Bureau for each driver. Insurance carriers vary their prices depending on things like how clean your driving record is, how old you are, how good your credit score is, where you live, and all sorts of other factors, so rates could change drastically from person to person.

So, if you want to find out which of Farm Bureau or Metlife is really the best for you, keep reading to see average premiums for each carrier broken down by multiple different rate factors.

Farm Bureau vs. Metlife: Average Car Insurance Rates by State

Farm Bureau and Metlife only compete against each other in Michigan, where Metlife offers the cheaper average rates. Metlife drivers tend to pay about $110 per month less on average compared to drivers who use Farm Bureau for their auto insurance.

That being said, there are plenty of other factors that go into your car insurance bill than just where you live. Read on to find out more.

Which is the Best Company For Young Drivers?

Teen drivers will almost always have the most expensive auto insurance prices of any group on the road. It's typically because teen drivers are statistically much more likely to cause collisions and other accidents that will result in an insurance claim.

But still, even with seemingly sky-high rates, teen drivers can still find ways to save money. For example, 18-year-old drivers pay an average of over 50% less a month by choosing Farm Bureau over Metlife.

That being said, both companies will offer you dramatically lower premiums by the time you turn 25. For example, average prices for Farm Bureau policyholders decrease almost 25% and Metlife's premiums drop more than 70% over that time.

Which is the Best Company for Retired Drivers?

When it comes to insurance, patience and experience pay off, with drivers around retirement age paying some of the lowest prices you'll ever see.

When looking at Farm Bureau and Metlife specifically, which company is best for retired drivers? Metlife gets the edge, with rates for drivers 65 and older $85 cheaper than the national average for Farm Bureau.

Which is the Best Company for Married Drivers?

You may not be aware, but car insurance prices tend to be more expensive for single policyholders than they are for married drivers. This usually boils down to married couples having more than one vehicle on their policy -- something lots of auto insurance carriers will reward with discounts.

For those who are single, the difference in average rates between these two companies is significant, with Farm Bureau premiums coming in at about 15% less than Metlife's. The advantage for married policyholders with Metlife is also obvious, where drivers save over 30% per month.

Farm Bureau or Metlife: Average Rates by Gender

Women generally to pay less for car insurance than men. This is because men are statistically more likely than women to cause a collision and get into accidents, which leads to increased risk for insurers and, therefore, higher rates.

Men and women get the same monthly prices with Farm Bureau, and around 8% less with Metlife.

When it comes to the most affordable premiums for each gender, Metlife is the lowest carrier for women. Rates with Metlife are $17 cheaper for women, while with Farm Bureau, men can save about $17.

Farm Bureau vs. Metlife: 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 pretty complicated. There are many different coverages that account for a range of different things. Some protect you and your car, while others only provide coverage for other people's property and health if you cause a collision.

But the most common policies that drivers look at fall into two categories -- liability coverage (which provides bodily injury and property damage coverage for other drivers and their passengers if you cause an accident) and full coverage (which includes collision and comprehensive coverages that protect your own car, alongside what you get with a liability policy).

Looking specifically at state minimum liability insurance, Metlife has the slight edge, with average monthly rates coming in at $215. If you want a full coverage policy with the same state minimum limits, Metlife again has the edge, with policies averaging around $466 a month to Farm Bureau's $468.

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

It's no secret -- drivers with good records end up getting the best deals on their car insurance. But that's not to say you can't save money if you don't have the best driving record, either.

At-fault collisions and speeding tickets will most likely raise your premiums, but is Farm Bureau or Metlife more affordable for drivers with spotty records?

Which Company is Best for Drivers with Speeding Tickets?

Policyholders who use Farm Bureau for their auto insurance can normally expect their monthly bill to go up about 32% after getting a speeding ticket. Metlife policyholders can expect a less drastic increase of around 21%.

If you have gotten a ticket, Metlife tends to offer the best prices at about 6% cheaper, while Farm Bureau has the edge for drivers with a clean record.

Which Company is Best for Drivers After an Accident?

Both carriers will raise rates pretty significantly if you get into an at-fault collision with Metlife increasing by around 40%. Farm Bureau has a less extreme climb, but you can still expect to pay nearly 15% more than you were prior to your first accident.

At the end of the day, drivers who use Farm Bureau end up with the cheaper prices after an accident, with average premiums coming in at $233 compared to MetLife's $368.

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. Farm Bureau drivers usually see a 68% raise in their insurance prices after a DUI charge, while Metlife will usually increase rates by about 55%.

How does Credit Score Impact Farm Bureau and Metlife Rates?

Did you know many auto insurance companies take into account your credit score when determining premiums? This isn't true for everyone (Michigan, for example, has banned the use of credit score as a car insurance factor) but it might come into play for a lot of drivers.

Insurance carriers 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.

Looking at Farm Bureau and Metlife specifically, which carrier has the best prices for policyholders 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 Metlife 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 your monthly premiums. Generally, those who drive less will end up with less expensive prices since there's less of a chance of causing an accident and filing an insurance claim.

Looking specifically at Metlife and Farm Bureau, Metlife is the more affordable option for people with short commutes, while Metlife has better rates for those who work from home. Farm Bureau's average prices for drivers with 6,000 annual miles come in around $7 cheaper than Metlife. Those who drive 12,000 miles each year can expect to pay about $12 less with Metlife over Farm Bureau.

Farm Bureau or Metlife: 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 pretty big impact as well. Typically, drivers who live in less densely populated rural areas will pay quite a bit less than urban policyholders because of the small number of vehicles that are on the roads where they live.

Metlife normally comes out as the more affordable option for drivers in urban and suburban areas, while Farm Bureau wins in rural areas.

If you live in a rural area, you can expect to pay around $223 a month with Farm Bureau and $299 with Metlife. Drivers in suburban ZIP codes pay about $333 with Metlife compared to Farm Bureau's $349 monthly. In urban areas, Metlife's average premiums are around $389 per month compared to Farm Bureau's $457.

Farm Bureau vs. Metlife 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 insurance discounts as possible.

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

Luckily, we did the hard work for you and looked at all of the different discounts Farm Bureau and Metlife offer their customers so that you can easily see which company offers the most discounts and, therefore, the largest savings.

Metlife knocks Farm Bureau out of the park when it comes to the sheer number of discounts available, offering 36 different discounts to Farm Bureau's 36.

Both companies offer many of the same discounts -- like anti-theft discounts, group discounts, and multi-policy discounts -- but Metlife also offers discounts for AAA, ABS, academic, and more.

On the other hand, Farm Bureau has a few proprietary discounts of their own like advance quote discounts and term discounts.

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

You've seen the effect certain variables have on your car insurance and the different discounts carriers offer. But, at the end of the day, which insurance company is the best one for you and your specific profile and needs?

Metlife might be best for you if....

• Your driving record includes a DUI charge.
• You're looking for the best prices on liability only coverage.
• Your neighborhood is in the suburbs.

Farm Bureau might be best for you if...

• You will be the only person on the auto insurance policy.
• You live in a rural area.
• You drive fewer than 6,000 miles annually.

Hopefully, this guide helps you get a good idea of the differences between Farm Bureau and Metlife and that it aids in making a more informed decision about your car 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 a handful of companies, not just Farm Bureau and Metlife. Luckily, sites like Compare.com do all the hard work for you. Simply enter your ZIP codes below and get multiple quotes from some of the best auto insurance carriers in your area, all for free.

Farm Bureau vs. Metlife FAQs

Is Farm Bureau or Metlife cheaper?

Metlife is the less expensive of the two companies when looking at national average rates, with policies averaging $340 a month with Metlife and $343 for Farm Bureau. However, that doesn't mean Metlife will be the cheapest carrier for every driver, since there are a variety of different factors (things like driving record, age, gender, etc.) that play a role in how much you pay.

Who is better, Farm Bureau or Metlife?

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

Why do Farm Bureau and Metlife offer me different rates?

Auto insurance carriers use quite a few different variables when calculating the rates they charge. Things such as age, your driving record, gender, where your home is, and sometimes even things like your credit score can all come into play. Both Farm Bureau and Metlife calculate prices differently, so it's likely they'll offer different rates. The best way to determine which carrier is the most affordable for you is by comparing personalized quotes from a bunch of different companies.

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

The only way to find the insurance company that's right for you is by getting quotes from multiple carriers 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 quotes from dozens of your local top car insurance companies for free. With those, you can guarantee you're getting the best premium. And maybe you'll find that the best carrier for you isn't Farm Bureau or Metlife 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.