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

Quick Facts

• Based on national averages for auto insurance, Travelers offers significantly cheaper rates than Farm Bureau
• Travelers has less expensive premiums for drivers who have received a ticket within the last few years
• Travelers tends to be a much more affordable option for couples purchasing insurance together

Farm Bureau vs. Travelers: 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 large 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 Travelers as your top options, but which carrier will offer you cheaper prices?

Looking at the national average rates for both companies, Farm Bureau has average rates that are about 50% per month more expensive than those from Travelers.

That being said, that doesn't mean Travelers will necessarily be more affordable than Farm Bureau for every single driver. Auto insurance carriers vary their rates depending on things like how old you are, where you live, how clean your driving record is, how good your credit score is, and all sorts of other factors. So, at the end of the day, premiums from each company will differ quite a bit from person to person.

Luckily, we've broken down average rates from both Farm Bureau and Travelers by a bunch of different rate factors, so read on to find out which carrier is the best for you.

Farm Bureau or Travelers: Average Car Insurance Rates by State

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But there's more to auto insurance than just the state you live in. As we mentioned above, there's a lot of things that go into how car insurance companies calculate your rates. Read on to learn more.

Which is the Best Company For Young Drivers?

Young drivers -- especially teens -- generally pay a lot for insurance compared to older drivers. The reason is that 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.

But still, even with seemingly sky-high prices, teen drivers can still find ways to save money. As you can see above, teens who use Travelers save nearly $150 a month compared to those who use Farm Bureau.

But both carriers will offer you dramatically lower premiums by the time drivers turn 25. Travelers offers the steepest reduction, with 25-year-olds paying less than a third of what 18-year-old drivers are charged. Farm Bureau's average rates lower almost 25% during that same period.

Which is the Best Company for Retired Drivers?

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

But who has the best prices for retired drivers between Farm Bureau and Travelers? Travelers gets the edge here, with average premiums coming in at around $132 a month compared to Farm Bureau's $290.

Which is the Best Company for Married Drivers?

Married couples tend to get slightly less expensive insurance prices than single policyholders. That's because policies for married drivers typically cover more than one car, which many companies will offer you a discount for.

When it comes to relationship status, Travelers is the clear winner for single drivers, with rates about $171 per month more affordable than Farm Bureau, on average. The advantage for married policyholders with Travelers is also obvious, where drivers save more than 55% a month.

Farm Bureau vs. Travelers: Average Rates by Gender

Men are statistically more likely than women to get into accidents and file an insurance claim. That means when it comes to auto insurance men will usually end up paying a little more.

Men and women get the same monthly prices with Farm Bureau, while with Travelers, the difference is closer to $11 per month.

When it comes to the lowest rates for each gender, Travelers offers the cheapest average premiums for both men and women. On average, women save about $182 a month and men save around $171 with Travelers compared to the average Farm Bureau policyholder.

Farm Bureau or Travelers: 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.

Insurance isn't the easiest topic to understand. There are many different coverages that account for a range of different things. Some protect you and your vehicle, while others only provide coverage for other people's property and health if you cause an accident.

However, most policies that many drivers look at fall into two categories -- liability only (which provides property damage and bodily injury coverage for other drivers if you cause a collision) and full coverage (which normally refers to having comprehensive and collision coverages alongside liability coverage).

If you're looking for state minimum liability limits, Travelers generally offers significantly less expensive prices of $108 compared to Farm Bureau's $218. When it comes to full coverage policies with similar limits, Travelers again has the edge, with policies about $250 per month cheaper than Farm Bureau, on average.

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

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

It's no secret secret that tickets and collisions lead to higher premiums, but which company -- Farm Bureau or Travelers -- has the lowest rates for drivers with less-than-perfect 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 Travelers normally raises rates around $32 per month, on average.

Even so, Travelers has less expensive prices for drivers in both categories. Drivers with a clean record can save about $74 a month and drivers with a speeding ticket can save around $136 per month with Travelers.

Which Company is Best for Drivers After an Accident?

Farm Bureau drivers who get in an accident can expect to see their rates climb by just under 15%, while those who have insurance through Travelers will see about a 25% increase.

Overall, drivers who use Travelers end up with the cheaper prices after an accident, with monthly prices averaging $173 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 ticket or even a collision. On average, Farm Bureau will climb your premiums around 68% after a DUI, while Travelers's average prices increase by just under 40%.

How does Credit Score Impact Farm Bureau and Travelers Rates?

Often times, your credit score can come into play when carriers determine your monthly bill. This isn't always the case (California, for example, has banned the use of credit score as a rating factor) but it might come into play for lots of policyholders.

The reasoning auto insurance companies use is that drivers 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.

So, which carrier offers the best premiums for policyholders 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 Travelers 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 big impact on your monthly prices? That's because the more miles you put on your vehicle, the more likely you are to get into an accident and cause an insurance claim.

Travelers tends to be the cheaper option for both drivers who put 6,000 miles on their vehicles yearly, as well as those who average twice that figure. Travelers's average rates for drivers with 6,000 annual miles come in about $168 more affordable than Farm Bureau. Those who drive 12,000 miles annually can expect to pay around $185 less with Travelers over Farm Bureau.

Farm Bureau vs. Travelers: 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. Usually, those who live in urban areas will pay more than drivers in rural areas due to the number of cars that are on the roads in those areas.

Travelers boasts the cheapest average premiums for drivers in all types of areas, no matter if they're urban, suburban, or rural.

For policyholders in urban ZIP codes, Travelers offers prices about $204 per month compared to Farm Bureau's $457. People who live in suburban ZIP codes can expect to pay around $160 a month for Travelers and $349 for Farm Bureau. Lastly, those in rural areas tend to get the most affordable rates from both carriers, with average monthly prices coming in at $136 and $223 for Travelers and Farm Bureau respectively.

Farm Bureau vs. Travelers Discounts

You want to save as much money as possible, right? The best way to do that is by utilizing as many car 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're eligible for or to nail down the carrier that has the most discounts for your unique driver profile.

In the table below, we've compared all of the different discounts offered by Farm Bureau and Travelers so that you can see which company offers the most discounts and see which ones you might be able to take advantage of.

Travelers knocks Farm Bureau out of the park when it comes to the sheer number of discounts available, offering 25 different discounts to Farm Bureau's 25.

There are a couple discounts both companies offer, but Travelers also offers ABS discounts, alternative fuel discounts, continuous insurance 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 Travelers Best for You?

So, you've seen how different factors can affect your auto insurance premiums. We've shown you all the discounts each company offers, too. But, at the end of the day, which insurance carrier is the best one for you and your specific profile and needs?

Travelers might be best for you if....

• You have an at-fault accident on your record.
• You want to save extra money with discounts.
• You are over 65 years old and want to save some money on your car insurance.

Farm Bureau might be best for you if...

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

We hope this guide helps you get a better idea of the difference between Farm Bureau and Travelers. We also hope we've given you the information you need to make the best decision about your auto 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 a handful of carriers, not just Farm Bureau and Travelers. Luckily, sites like Compare.com do all the hard work for you. Just enter your ZIP code below and get free quotes from dozens of top car insurance companies in your area, all in just a few minutes.

Farm Bureau vs. Travelers FAQs

Is Farm Bureau or Travelers cheaper?

Looking just at the national average rates, Travelers is the less expensive of the two carriers, offering average rates of $167 per month compared to $343 for Farm Bureau. But Travelers won't necessarily be the lowest company for everyone, since there are lots of different variables that come into play when it comes to your insurance cost.

Who is better, Farm Bureau or Travelers?

Sadly, the real answer is "it depends.". No one carrier is necessarily "better" for everyone -- it all boils down to your unique auto insurance profile.

Why do Farm Bureau and Travelers offer me different rates?

Car insurance companies take a look at several different factors when calculating the premiums they charge drivers. Things such as gender, age, where you park your vehicle, your driving record, and sometimes even things like your credit score can all be taken into consideration. Both Farm Bureau and Travelers use different formulas, so each one will most likely offer different prices. The only real way to see which company is the cheapest for you is by comparing personalized quotes from several different carriers.

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

The only way to find the auto insurance carrier that's right for you is by getting quotes from multiple companies and finding the one best suited for your individual budget. Luckily, Compare.com does all the hard work for you. Just enter your information once 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 best price. And who knows, the best company for you might not be Farm Bureau or Travelers 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.