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

Quick Facts

• In general, Georgia Farm Bureau offers significantly more affordable rates than GEICO
• GEICO may help you save more money -- they offer more discounts than Georgia Farm Bureau Insurance
• Georgia Farm Bureau tends to be a much cheaper option for policyholders whose driving record contains an at-fault collision

GEICO or Georgia Farm Bureau: 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 have narrowed your search down to GEICO or Georgia Farm Bureau for your next policy, but between the two, which carrier has less expensive premiums for auto insurance?

As you can see, GEICO has average rates that are around 22% a month more expensive than those from Georgia Farm Bureau when looking at the national average rates for insurance.

However, Georgia Farm Bureau may not be the lowest or best option for each driver out there. Car insurance carriers use a variety of complex algorithms to determine rates, so depending on where you live or how clean your driving record is (among numerous other factors), you could see wildly different premiums from the ones above.

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

GEICO vs. Georgia Farm Bureau: Average Car Insurance Rates by State

GEICO and Georgia Farm Bureau only compete against each other in Georgia, where Georgia Farm Bureau offers the cheaper average premiums. Georgia Farm Bureau drivers tend to pay about $75 per month less on average compared to drivers who use GEICO for their auto insurance.

But there's more to calculating car insurance rates than just where you call home. Read on to learn more.

Which is the Best Company For Young Drivers?

Teen drivers will almost always have the most expensive auto insurance prices of any other group of drivers out there on the road. That's because teen drivers are statistically much more likely to get into an accident that results in an insurance claim, making them much riskier to insure.

But still, even with seemingly sky-high premiums, teen drivers can still find ways to save money. For example, 18-year-old drivers pay an average of over 30% less a month by choosing Georgia Farm Bureau over GEICO. It's worth noting that GEICO offers insurance in 50 different states compared to Georgia Farm Bureau's one, which can skew the average rates a bit, but the difference here is still considerable.

That being said, with both companies, you'll see your prices reduce significantly by the time you turn 25. For example, average premiums for GEICO policyholders drop more than 55% and Georgia Farm Bureau's prices decrease almost 50% over that time.

Which is the Best Company for Retired Drivers?

Drivers around retirement age normally enjoy some of the cheapest auto insurance rates you can find. After all, they've likely been driving for quite some time, which generally decreases their chances of collisions and other infractions that can raise prices.

When looking at GEICO and Georgia Farm Bureau specifically, which carrier is best for retired drivers? Georgia Farm Bureau gets the edge, with rates for drivers 65 and older $31 more affordable than the national average for GEICO.

Which is the Best Company for Married Drivers?

Those who are single tend to get offered slightly more expensive car insurance premiums than married drivers. That's usually because married couples tend to own and insure more than one vehicle, which can often earn you a discount.

For single drivers, the difference in average prices between these two carriers is significant, with Georgia Farm Bureau premiums coming in at a quarter less than GEICO's. The advantage for married policyholders with Georgia Farm Bureau is also obvious, where drivers save about $35 per month.

GEICO or Georgia Farm Bureau: Average Rates by Gender

You may not know, but insurance is typically more expensive for men than for women. This is because men are statistically more likely than women to get pulled over for speeding or get into a collision, which leads to increased risk for insurers and, therefore, higher rates.

On average, men see premiums around 4% a month higher with GEICO, but with Georgia Farm Bureau, the difference is closer to 1% per month.

Looking at overall affordability, Georgia Farm Bureau offers the most affordable average rates for both men and women. On average, male drivers save about $44 a month and women save about $38 with Georgia Farm Bureau compared to the average GEICO policyholder.

GEICO vs. Georgia 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 auto insurance can be pretty complicated. There are so many different coverages and limits that it can make it pretty confusing to find the right policy for you.

Even so, most policies end up falling into two different types of coverage -- liability coverage (which provides property damage and bodily injury coverage for other drivers and their passengers if you cause an accident) and full coverage (which usually refers to having collision and comprehensive coverages in addition to what you get with liability coverage).

Looking specifically at state minimum limits for liability insurance, Georgia Farm Bureau has the slight edge, with average monthly prices coming in at $91. If you want a full coverage policy with the same state minimum limits, Georgia Farm Bureau again has the edge, with policies averaging around $197 per month to GEICO's $269.

Is GEICO or Georgia Farm Bureau Better for Drivers with Spotty Records?

You've probably seen plenty of commercials from car insurance companies offering great premiums for good drivers, but that doesn't mean people with less-than-perfect driving records can't save money, too.

It's no secret secret that speeding tickets and accidents lead to higher rates, but which company -- GEICO or Georgia Farm Bureau -- has the lowest prices for drivers with spotty records?

Which Company is Best for Drivers with Speeding Tickets?

Policyholders with Georgia Farm Bureau insurance policies don't report seeing their premiums increase after getting a ticket, but GEICO policyholders can expect to see their monthly bill increase by about $35.

But Georgia Farm Bureau is generally the cheaper option for drivers both with clean records and with a speeding ticket, offering rates that are 1% and 24% less expensive, respectively, compared to GEICO.

Which Company is Best for Drivers After an Accident?

GEICO drivers who get in a collision can expect to see their prices climb by $85, while those who have insurance through Georgia Farm Bureau will see around a $20 increase.

At the end of the day, drivers who use Georgia Farm Bureau end up with the cheaper prices after an accident, with average rates coming in at $133 compared to GEICO's $200.

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. GEICO drivers usually see a 58% increase in their insurance prices after a DUI charge, while Georgia Farm Bureau will typically climb premiums by about 47%.

Georgia Farm Bureau has the overall cheapest rates for drivers with a DUI on their records at $216 a month, but it's worth noting that GEICO's average rates come from 50 states compared to just one for Georgia Farm Bureau, so the data may be skewed slightly.

How does Credit Score Impact GEICO and Georgia Farm Bureau Rates?

In many cases, your credit score can be used as one of the variables to calculate your monthly car insurance prices. This isn't true for everyone (for example, Hawaii and Massachusetts are two states that ban the practice entirely), but it might come into play for several policyholders.

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.

So, which carrier offers the most affordable premiums for drivers with good, average, or poor credit?

Which Company is Best for Drivers with Good Credit?

If you have a great credit score, Georgia Farm Bureau will normally reward you the most. For policyholders with "excellent" credit scores, Georgia Farm Bureau comes in nearly 39.69 more affordable. Drivers with "good" credit scores typically save around 27% with Georgia Farm Bureau compared to average prices from GEICO.

Which Company is Best for Drivers with Bad Credit?

Georgia Farm Bureau typically offers lower rates than GEICO when it comes to drivers with less-than-stellar credit. Drivers with "fair" credit pay about 18% a month less with Georgia Farm Bureau compared to GEICO, and those with "poor" scores normally save an average of around 15% monthly.

Is GEICO or Georgia Farm Bureau 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 sizable impact on your monthly premiums? That's because the fewer miles you drive, the less likely you are to be in an accident 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 Georgia Farm Bureau charges. However, there's a small difference in monthly rates for GEICO, with policyholders who drive 6,000 miles each year paying about $8 less every month compared to those who drive 12,000 miles annually. Still, for drivers in both categories, Georgia Farm Bureau is the cheaper company.

GEICO or Georgia Farm Bureau: Compare Rates for Urban, Suburban, and Rural Drivers

Where you live can play a pretty big role in how much you pay for car insurance. Generally, those who live in rural areas will pay less than drivers in urban areas since there are a lot fewer cars on the road where they live, which lowers the chances of an accident.

When comparing these two companies side-by-side, Georgia Farm Bureau usually comes out as the cheapest option for drivers in every type of area, no matter if it's urban, suburban, or rural.

For policyholders in urban ZIP codes, Georgia Farm Bureau Insurance's average premiums are around $61 less than GEICO. People who live in suburban areas pay about $39 less with Georgia Farm Bureau compared to GEICO. Those in rural areas can expect to save around $23 with Georgia Farm Bureau compared to GEICO.

GEICO vs. Georgia Farm Bureau Discounts

No matter why you might be in the market for a new auto insurance policy, you're always going to want to save as much money as you can, and the best way to do that is by utilizing as many insurance discounts as possible.

But where do you even start? With so many discounts out there, it may seem hard to find all the of the ones you're eligible for.

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

GEICO knocks Georgia Farm Bureau out of the park when it comes to the sheer number of discounts available, offering 17 more discounts than Georgia Farm Bureau.

A couple of those are overlapping for things like anti-theft discounts, discounts for getting driver training, discounts for being a good driver, and multi-policy discounts. GEICO also offers discounts for commercial drivers license, COVID-19 relief, deployed driver, and more.

Georgia Farm Bureau's discounts come through just a few categories, including ABS, Anti-Theft, Defensive Driver, and more.

Final Thoughts: Is GEICO or Georgia Farm Bureau Best for You?

So, we've broken down the average rates for many of the factors auto insurance carriers look at, and walked through the different discounts each company offers, too. But, at the end of the day, is GEICO or Georgia Farm Bureau the right company for you and your specific driver profile?

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

• You live in one of the following states: Georgia.
• Your home is in a busy urban area.
• You live in a rural neighborhood.

GEICO might be best for you if...

• You value the experience that comes with a large national car insurance carrier.
• You're looking for the company with the most discounts.

Hopefully, this guide helps you get a good idea of the differences between GEICO and Georgia Farm Bureau. We also hope we've given you the information you need to make the best decision when it comes to your auto 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 car insurance -- comparing quotes from several companies, not just GEICO and Georgia Farm Bureau. Luckily, sites like Compare.com do all the hard work for you. Simply enter your ZIP codes below and get multiple free quotes from some of the best insurance carriers in your area, all in just a few minutes.

GEICO vs. Georgia Farm Bureau FAQs

Is GEICO or Georgia Farm Bureau cheaper?

Georgia Farm Bureau is the less expensive of the two companies when looking at national average prices, with policies averaging $144 per month with Georgia Farm Bureau and $185 for GEICO. Even so, that doesn't mean Georgia Farm Bureau will be the most affordable carrier for each driver, since there are multiple different variables that are considered when it comes to your auto insurance cost.

Who is better, GEICO or Georgia Farm Bureau?

Sadly, the only answer we can give you is "it depends.". Neither company is "better" for everyone -- it all depends on what your unique car insurance profile looks like.

Why do GEICO and Georgia Farm Bureau offer me different rates?

Insurance carriers use lots of different factors when determining the premiums they charge. Things like gender, your driving record, age, where your home is, and sometimes even things like your credit score can all be taken into consideration. Both GEICO and Georgia Farm Bureau calculate rates using different variables, so it's likely they'll offer different prices. The best way to determine which carrier is the cheapest for you is by comparing personalized quotes from many different companies.

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

The only way to find the auto insurance company that's right for you is by getting quotes from a handful of carriers and finding the one best suited for your individual budget. Luckily, Compare.com does all the hard work for you. Just enter your ZIP code and you'll get quotes from dozens of your local top car insurance companies for free. That way, you can guarantee you're getting the most affordable premium. And maybe you'll find that the best carrier for you isn't GEICO or Georgia Farm Bureau 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.