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

Quick Facts

• Based on national averages for auto insurance, Indiana Farm Bureau offers more affordable premiums than Farmers
• Farmers tends to be a much less expensive option for policyholders who live in the suburbs
• Indiana Farm Bureau has cheaper prices for residents of urban areas

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

So, you're considering switching your auto insurance. You've probably seen commercials and billboards from companies offering large discounts, but exactly how much money can you save by switching?

You might be considering Farmers or Indiana Farm Bureau for your next policy, but which carrier will offer you less expensive rates?

Looking at the national average rates for both companies, Indiana Farm Bureau is about $23 per month cheaper than Farmers.

But Indiana Farm Bureau may not be the lowest or best option for every single driver out there. After all, insurance carriers can offer drastically different rates to each driver depending on rating factors like where you call home, your credit score, your age, or even your driving record (among other things), so prices will differ quite a bit from person to person.

So, if you want to find out which of Farmers or Indiana Farm Bureau is really the best for you, keep reading to see average premiums for each company broken down by a bunch of different rate factors.

Farmers or Indiana Farm Bureau: Average Car Insurance Rates by State

Farmers and Indiana Farm Bureau only compete against each other in Indiana, where Farmers offers the cheaper average rates. For Indiana residents, Farmers offers car insurance for $160 per month on average. Indiana Farm Bureau's average prices come out to be over 10% more expensive, at $180 a month.

There are plenty of other factors that go into your insurance cost than just where you call home. Read on to learn more.

Which is the Best Company For Young Drivers?

Young drivers -- especially teens -- usually pay a lot for auto insurance compared to older drivers. The reason is that young, inexperienced drivers are statistically much more likely to cause collisions and other accidents that will result in an insurance claim.

However, that doesn't mean that teen drivers have to just accept sky-high car insurance premiums. As you can see above, teens who use Indiana Farm Bureau save nearly $90 a month compared to those who use Farmers. It's worth noting that Farmers offers insurance in 25 different states compared to Indiana Farm Bureau's one, which can skew the average prices a bit, but the difference here is still considerable.

Even so, both companies will reduce rates by the time drivers turn 25. For example, average premiums for Farmers policyholders lower more than 70% and Indiana Farm Bureau's rates drop over 65% over that time.

Which is the Best Company for Retired Drivers?

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

When looking at Farmers and Indiana Farm Bureau specifically, which carrier is best for retired drivers? Indiana Farm Bureau gets the edge, with prices for drivers 65 and older almost 15% more affordable than the national average for Farmers.

Which is the Best Company for Married Drivers?

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

When it comes to relationship status, Indiana Farm Bureau is the clear winner for single policyholders, with prices around $31 per month cheaper than Farmers, on average. But for married couples, that advantage is much less clear - Indiana Farm Bureau offers the lowest average rates.

Farmers vs. Indiana Farm Bureau: Average Rates by Gender

You may not know, but auto insurance is generally cheaper for women than it is for men. This is because women are less likely to get into collisions and get speeding tickets, which decreases the chances of an insurance claim.

Typically, women see prices about 3% a month less with Farmers, and around 13% less with Indiana Farm Bureau.

Looking at overall affordability, Indiana Farm Bureau offers the most affordable average rates for both men and women, with average premiums 7% less for men and 17% cheaper for women.

Farmers or Indiana Farm Bureau: 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. Everyone needs auto insurance, but there are so many different limits and terms that it can be hard to find the right policy.

That being said, most policies that many drivers look at fall into two categories -- liability only (which provides bodily injury and property damage coverage for other drivers and passengers if you cause an accident) and full coverage (which includes two additional coverages -- comprehensive and collision -- alongside liability coverage).

If you're looking for state minimum liability insurance, Indiana Farm Bureau typically offers more affordable prices of $97 compared to Farmers's $126. When it comes to full coverage policies with similar limits, Indiana Farm Bureau again has the edge, with policies about $20 per month less expensive than Farmers, on average.

Is Farmers or Indiana Farm Bureau 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 premiums, but is Farmers or Indiana Farm Bureau cheaper for drivers with less-than-perfect records?

Which Company is Best for Drivers with Speeding Tickets?

Farmers policyholders can expect their rates to go up an average of $44 a month if they get a ticket, while Indiana Farm Bureau normally raises premiums around $56 per month, on average.

However, Indiana Farm Bureau is typically the less expensive option for drivers both with a speeding ticket and with a clean record -- their rates are around 24% more affordable for drivers with clean records and 13% cheaper for those with a ticket.

Which Company is Best for Drivers After an Accident?

Farmers drivers who get in a collision can expect to see their prices increase by just under 30%, while those who have insurance through Indiana Farm Bureau will see about a 35% increase.

Overall, the less expensive rates come from Indiana Farm Bureau, with monthly prices averaging $195 compared to Farmers Insurance's $224.

Which Company is Best for Drivers with a DUI?

On average, a DUI offense is going to cost you much more than a single accident or ticket when it comes to your auto insurance bill. Indiana Farm Bureau drivers usually see a 45% climb in their insurance rates after a DUI charge, while Farmers will generally increase premiums by around 27%.

Farmers has the overall cheapest rates for drivers with a DUI on their records at $221 monthly, but it's worth noting that Farmers's average rates come from 25 states compared to just one for Indiana Farm Bureau, so the data may be skewed slightly.

How does Credit Score Impact Farmers and Indiana Farm Bureau Rates?

Did you know that many car insurance companies take into account your credit score when calculating premiums? This isn't always the case (Michigan, for example, has banned the use of credit score as a rating factor) but it might come into play for many policyholders.

Insurance carriers argue that those with good credit scores are more likely to pay their bills on time every month, which lowers the risk involved on their end, while the opposite is true for those with bad credit.

Looking specifically at Indiana Farm Bureau and Farmers, which one has the most affordable prices for drivers at different credit levels?

Which Company is Best for Drivers with Good Credit?

If you have great credit, you'll usually find a better deal with Indiana Farm Bureau. Policyholders with "excellent" credit can save over 30% compared to Farmers, and those with "good" scores can also expect to see savings -- about $44 or 24% more affordable each month.

Which Company is Best for Drivers with Bad Credit?

If you have a below average credit score, it can be somewhat of a toss-up as far as which company offers you the best rates. Drivers with "fair" credit pay around $29 less with Indiana Farm Bureau than Farmers, but those whose credit is considered "poor" have it flipped -- saving about $32 a month with Farmers.

Is Farmers or Indiana Farm Bureau Better for Drivers who Work from Home or Have Short Commutes?

How much you drive can have a considerable impact on your monthly car insurance payment. Normally, the more miles you drive, the more you can expect to pay for coverage.

In this case, neither Farmers or Indiana Farm Bureau report increasing prices for drivers with higher annual mileage figures. Even so, Indiana Farm Bureau comes out as the cheapest for drivers at both intervals, whether they put 6,000 or 12,000 miles on their vehicle yearly, with average premiums of $180 per month for both.

Farmers vs. Indiana Farm Bureau: 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 auto insurance, but the type of area you live in can have a big impact as well. Usually, drivers who live in heavily-populated urban areas will pay quite a bit more than rural policyholders because there are a lot more cars on the roads in those areas.

Indiana Farm Bureau tends to offer the most affordable option for drivers in rural and urban areas, while Farmers wins in suburban areas.

If you live in a rural area, you can expect to save around $14 with Indiana Farm Bureau compared to Farmers. Drivers in suburban ZIP codes pay about $8 less with Farmers compared to Indiana Farm Bureau. In urban areas, Indiana Farm Bureau Insurance's average prices are around $64 less than Farmers Insurance.

Farmers vs. Indiana Farm Bureau Discounts

Regardless of why you might be in the market for a new insurance policy, you're always going to want to save as much money as possible, and the best way to do that is by taking advantage of as many auto insurance discounts as you can.

The challenging part is finding all of the discounts you can take advantage of, since it can feel sometimes like every carrier has different discounts and each one is advertised differently.

In the table below, we've compared all of the different discounts offered by Farmers and Indiana Farm Bureau so that you can easily see which company offers the most discounts and, therefore, the biggest savings.

Farmers knocks Indiana Farm Bureau out of the park when it comes to the sheer number of discounts available, offering 28 different discounts to Indiana Farm Bureau's 15.

Both companies offer a lot of the same discounts -- like discounts for being a good driver, life policy discounts, discounts for insuring multiple cars with the same company, and paperless discounts -- but Farmers also offers advance quote discounts, alternative fuel discounts, anti-theft discounts, and more that Indiana Farm Bureau does not.

On the flip side, Indiana Farm Bureau has a couple unique discounts of its own -- agri-business discounts, education discounts, employee discounts, and more.

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

So, you've seen how different factors can affect your car insurance premiums. We've broken down the different discounts each company offers, too. But, at the end of the day, which insurance carrier is the best company for you, your vehicle, and your wallet?

Indiana Farm Bureau might be best for you if....

• You want to save money on your auto insurance after an accident.
• You already have a great credit score.
• You and your spouse are buying insurance together.

Farmers might be best for you if...

• You have a DUI charge on your record.
• You want to save extra money with discounts.
• Your neighborhood is in the suburbs.

We hope this guide helps you get a better idea of the difference between Farmers and Indiana Farm Bureau and that you can now make a more informed decision when it comes to 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 multiple carriers, not just Farmers and Indiana Farm Bureau. 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 the top car insurance companies in your area, all in just a few minutes.

Farmers vs. Indiana Farm Bureau FAQs

Is Farmers or Indiana Farm Bureau cheaper?

Looking just at the national average prices, Indiana Farm Bureau is the less expensive of the two carriers, offering average rates of $180 a month compared to $203 for Farmers. That being said, Indiana Farm Bureau won't necessarily be the lowest company for every policyholder, since there are a range of different variables that are considered when it comes to your auto insurance bill.

Who is better, Farmers or Indiana Farm Bureau?

Sadly, the only answer we can give you is "it depends.". One carrier is not necessarily "better" for everyone -- it all comes down to what your unique car insurance profile looks like. For example, Farmers offers cheaper rates for drivers with a recent DUI, while Indiana Farm Bureau is more affordable for drivers with excellent credit.

Why do Farmers and Indiana Farm Bureau offer me different rates?

Auto insurance companies take a look at a lot of different factors when determining the premiums they charge drivers. Variables like where you live, where you call home, gender, age, and sometimes even things like your credit score can all be used. Both Farmers and Indiana Farm Bureau calculate rates differently, so each one will most likely offer different premiums. The only real way to see which company is the cheapest for you is by comparing personalized quotes from lots of different carriers.

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

The only way to find the insurance carrier that's right for you is by getting quotes from a handful of companies and finding the one best suited for your individual budget. Luckily, sites like Compare.com make it easy for you to do just that. Just enter your area information and you'll get free quotes from dozens of the best car insurance carriers in your area. That way, you can guarantee you're getting the best premium. And who knows, the best company for you might not be Farmers or Indiana Farm Bureau 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.