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

So, you're in the market for a new auto insurance policy. You may have even narrowed down your search to GEICO and Indiana Farm Bureau. But which of these two companies is the best one for you? Read on to find which company has the best premiums and biggest discounts.
Newly insured car driving down the road
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Quick Facts

  • Looking at the national averages for car insurance, Indiana Farm Bureau offers slightly more affordable rates than GEICO
  • GEICO offers more affordable prices for drivers who have received a ticket within the last few years
  • Indiana Farm Bureau offers cheaper average premiums for policyholders who drive a short distance to work everyday

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

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

You might be considering GEICO or Indiana Farm Bureau, but between the two, which company will offer you less expensive prices?

GEICO Indiana Farm Bureau

As you can see, Indiana Farm Bureau is about $5 per month cheaper than GEICO when looking at the national average rates for auto insurance.

Even so, that doesn't mean Indiana Farm Bureau will necessarily be less expensive than GEICO for every driver. Car insurance companies use a ton of complex algorithms to calculate rates, so depending on how good your credit score is or how clean your driving record is (among lots of other factors), you could see wildly different premiums from the ones above.

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

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

State GEICO Indiana Farm Bureau

GEICO and Indiana Farm Bureau only compete against each other in Indiana, where GEICO offers the cheaper average rates. For Indiana residents, GEICO offers insurance for $116 a month on average. Indiana Farm Bureau's average premiums come out to be over 50% more expensive, at $180 per month.

There's a lot more that goes into your auto insurance cost than just the state you live in. Continue reading to see how other factors will affect your rates.

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Which is the Best Company For Young Drivers?

GEICO Indiana Farm Bureau
18-year-old drivers$369$445
25-year-old drivers$163$146

You might already know that teen drivers generally pay a lot more for car insurance than any other group of drivers out there on the road. That's because 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.

However, that doesn't mean teen drivers can't still save money on their insurance. For example, 18-year-old drivers pay an average of more than $75 less a month by choosing GEICO over Indiana Farm Bureau. It's worth noting that GEICO offers auto insurance in 50 different states compared to Indiana Farm Bureau's one, which can skew the average prices a bit, but the difference here is still considerable.

But with both carriers, you'll see your rates reduce significantly once you turn 25. For example, average premiums for GEICO policyholders drop over 55% and Indiana Farm Bureau's prices decrease more than 65% over that time.

Which is the Best Company for Retired Drivers?

GEICO Indiana Farm Bureau
65+-year-old drivers$148$124

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

When looking at GEICO and Indiana Farm Bureau specifically, which company is best for retired drivers? Indiana Farm Bureau gets the edge, with premiums for drivers 65 and older $24 more affordable than the national average for GEICO.

Which is the Best Company for Married Drivers?

GEICO Indiana Farm Bureau

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

When it comes to relationship status, the two companies are comparable for single drivers, with rates only differing around $6 per month, on average. But for married policyholders, the advantage is clear - Indiana Farm Bureau offers the most affordable average premiums.

GEICO vs. Indiana Farm Bureau: Average Rates by Gender

GEICO Indiana Farm Bureau

Men are statistically more likely than women to get into accidents and file an insurance claim, which means they'll normally end up paying more for auto insurance than women.

On average, women see rates nearly $10 a month cheaper with GEICO, and about $26 less with Indiana Farm Bureau.

Looking at the data for each carrier specifically, GEICO is the cheapest company for men. Rates with GEICO are $4 less for men, while women can save around $14 with Indiana Farm Bureau.

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GEICO or Indiana Farm Bureau: Compare State Minimum vs. Full Coverage Rates

GEICO Indiana Farm Bureau
State Minimum*$101$97
Full Coverage**$269$263

*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 a complicated subject for most people. There are so many different terms and coverages that it can make it pretty confusing to find the right policy.

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

If you're looking for state minimum liability insurance, Indiana Farm Bureau typically offers slightly more affordable prices of $97 compared to GEICO's $101. When it comes to full coverage policies with similar limits, Indiana Farm Bureau again has the edge, with policies about $6 per month less expensive than GEICO, on average.

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

You've probably seen plenty of commercials from car insurance carriers offering great rates 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 tickets and at-fault collisions lead to higher prices, but which carrier -- GEICO or Indiana Farm Bureau -- has the lowest premiums for drivers with less-than-ideal driving records?

Which Company is Best for Drivers with Speeding Tickets?

GEICO Indiana Farm Bureau
Clean Record$115$123
1 Speeding Ticket$150$179

GEICO policyholders can expect their rates to go up an average of $35 a month if they get a ticket, while Indiana Farm Bureau generally raises premiums around $56 per month, on average.

Even so, GEICO tends to offer the best prices for drivers both with clean records and with a speeding ticket, offering prices that are 7% and 16% more affordable, respectively, compared to Indiana Farm Bureau Insurance.

Which Company is Best for Drivers After an Accident?

GEICO Indiana Farm Bureau
Clean Record$115$123
1 At-Fault Accident$200$195

GEICO drivers who get in a collision can expect to see their premiums rise by $85, while those who have insurance through Indiana Farm Bureau will see about a $70 increase.

Overall, Indiana Farm Bureau offers the most affordable prices for drivers with an at-fault accident on their records, with monthly rates averaging $195 compared to GEICO's $200.

Which Company is Best for Drivers with a DUI?

GEICO Indiana Farm Bureau
Clean Record$115$123
1 DUI$275$224

On average, a DUI offense is going to cost you much more than a single collision or ticket when it comes to your auto insurance bill. For example, GEICO increases average prices by over $150 a month -- that's just under a 60% increase.

Indiana Farm Bureau has the overall cheapest premiums for drivers with a DUI on their records at $224 monthly, but it's worth noting that GEICO's average rates come from 50 states compared to just one for Indiana Farm Bureau, so the data may be skewed slightly.

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

Often times, your credit score can come into play when companies determine your monthly bill. This isn't always the case (for example, California and Hawaii are two states that ban the practice entirely), but it does affect many policyholders out there.

The reasoning insurance carriers 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 normally be forced to pay more.

Looking at GEICO and Indiana Farm Bureau specifically, which one has the lowest premiums for policyholders at different credit levels?

Which Company is Best for Drivers with Good Credit?

GEICO Indiana Farm Bureau
Excellent Credit Score$131$111
Good Credit Score$164$141

If you have solid credit, you'll usually find a better deal with Indiana Farm Bureau. Drivers with "excellent" credit can save over 15% compared to GEICO, and those with "good" scores can also expect to see savings -- around $23 or 14% less expensive each month.

Which Company is Best for Drivers with Bad Credit?

GEICO Indiana Farm Bureau
Fair Credit Score$197$180
Poor Credit Score$253$288

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 about $17 less with Indiana Farm Bureau than GEICO, but those whose credit is considered "poor" have it flipped -- saving around $35 per month with GEICO.

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

GEICO Indiana Farm Bureau
6,000 Annual Miles$181$180
12,000 Annual Miles$189$180

The amount of time you spend behind the wheel of your car plays a big role in your monthly prices. Usually, those who drive less will end up with cheaper premiums since there's less of a chance of getting into an accident and causing an insurance claim.

As you can see in the table above, annual mileage doesn't have much of an impact on how much Indiana Farm Bureau charges. However, there's a small difference in monthly rates for GEICO, with policyholders who drive 6,000 miles every year paying about $8 less each month compared to those who drive 12,000 miles yearly. Still, Indiana Farm Bureau is the less expensive option for drivers in both categories.

GEICO vs. Indiana Farm Bureau: Compare Rates for Urban, Suburban, and Rural Drivers

Where you park your car can play a sizable role in how much you pay for car insurance. Typically, those who live in urban areas will pay more than policyholders in rural areas because of the number of vehicles that are on the roads in those areas.

GEICO Indiana Farm Bureau
Urban Areas$211$187
Suburban Areas$185$197
Rural Areas$159$156

Indiana Farm Bureau boasts the cheapest average premiums in rural and urban areas, while GEICO wins in suburban areas.

In urban areas, Indiana Farm Bureau Insurance's average prices are around 11% less than GEICO. Drivers in suburban ZIP codes pay about 6% less with GEICO compared to Indiana Farm Bureau. If you live in a rural area, you can expect to save around 2% with Indiana Farm Bureau compared to GEICO.

GEICO vs. Indiana Farm Bureau Discounts

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

But where do you even start? With what seems like a million different discounts out there, it may be challenging to find all the ones you qualify for.

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

GEICO Indiana Farm Bureau
ABS Discount
Agri-Business Discount 
Anti-Theft Discount 
Commercial Drivers License Discount 
Covid-19 Relief Discount 
Defensive Driver Discount 
Deployed Driver Discount 
Distant Student Discount 
Driver Training Discount 
DRL Discount 
Education Discount 
EFT Discount 
Employee Discount
Full Coverage Discount 
Good Driving Discount
Good Student Discount
Group Discount 
Life Policy Discount 
Mature Driver Discount 
Military Discount 

GEICO knocks Indiana Farm Bureau out of the park when it comes to the sheer number of discounts available, offering 13 more discounts than Indiana Farm Bureau.

Both companies offer many of the same discounts -- like employee discounts, discounts for being a good student, discounts for insuring multiple cars with the same company, and paperless discounts -- but GEICO also offers anti-theft discounts, commercial drivers license discounts, COVID-19 relief discount, 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, life policy discounts, and more.

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

So, we've broken down the average rates for many of the variables insurance carriers look at, and walked through the different discounts each carrier offers, too. That's all well and good, but at the end of the day, is GEICO or Indiana Farm Bureau the right fit for you?

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

  • You want to save money on your car insurance after a collision.
  • Your neighborhood is in a city.
  • You are purchasing your auto insurance with a spouse.

GEICO might be best for you if...

  • You don't have any speeding tickets, DUIs, or at-fault accidents on your record.
  • You have a speeding ticket on your driving record.
  • You live in an suburban area.

We hope this guide helps you get a better idea of the difference between GEICO and Indiana Farm Bureau and that it aids in making a more informed decision about your insurance.

At the end of the day, the best way to make sure you're getting the best deal on your car insurance policy is to compare quotes from multiple companies, not just GEICO and Indiana Farm Bureau. Luckily, sites like do all the hard work for you. Simply enter your ZIP codes below and get free quotes from dozens of top auto insurance carriers in your area, all in just a few minutes.

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GEICO vs. Indiana Farm Bureau FAQs

Is GEICO or Indiana Farm Bureau cheaper?

Looking just at the national average premiums, Indiana Farm Bureau is the more affordable of the two companies, offering average rates of $180 a month compared to $185 for GEICO. But Indiana Farm Bureau won't necessarily be the lowest company for everyone, since there are multiple different factors that come into play when it comes to your car insurance payment.

Who is better, GEICO or Indiana Farm Bureau?

Unfortunately, the only answer we can give you is "it depends.". No single carrier is necessarily "better" for everyone -- it all boils down to your unique insurance profile. For example, GEICO offers cheaper prices for single drivers, while Indiana Farm Bureau is more affordable for drivers who have already retired.

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

Car insurance carriers take a look at a lot of different variables when calculating the rates they charge policyholders. Things such as gender, where your home is, age, your driving record, and sometimes even things like your credit score can all be taken into consideration. Both GEICO and Indiana Farm Bureau use different formulas, 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 several different companies.

How do I know if GEICO 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 carriers and finding the one best suited for your individual budget. Luckily, makes it easy for you to do just that. Just enter your ZIP code and you'll get free quotes from dozens of the best auto insurance companies 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 GEICO or Indiana Farm Bureau at all!


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.

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