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

Quick Facts

• Based on national averages for insurance, Mississippi Farm Bureau offers significantly less expensive rates than GEICO
• GEICO offers more discounts than Mississippi Farm Bureau Insurance
• Mississippi Farm Bureau tends to be a much more affordable option for couples purchasing auto insurance together

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

So, you're thinking about switching your auto insurance. After all, you've seen ads from all sorts of companies offering huge discounts. But exactly how much can you save by switching?

You might be considering GEICO or Mississippi Farm Bureau, but between the two, which carrier will offer you cheaper premiums?

Looking at the national average rates for both companies, Mississippi Farm Bureau is quite a bit cheaper than GEICO, with rates averaging $137 per month compared to $185 with GEICO.

However, Mississippi Farm Bureau may not be the lowest or best option for each driver out there. Insurance carriers use all sorts of complex algorithms to calculate prices, so depending on how good your credit score is or where you live (among a bunch of other factors), you could see wildly different premiums from the ones above.

Wanting to know if GEICO or Mississippi Farm Bureau is really the right company for you? Keep on reading to see how average rates can change based on all of the factors we've mentioned above.

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

GEICO and Mississippi Farm Bureau only compete against each other in Mississippi, where Mississippi Farm Bureau offers the cheaper average prices. For Mississippi residents, Mississippi Farm Bureau offers car insurance for $137 monthly on average. GEICO's average premiums come out to be over 40% more expensive, at $195 a month.

But there's more to calculating auto insurance prices than just where you call home. Continue reading to see how other factors will affect your rates.

Which is the Best Company For Young Drivers?

You might already know that teen drivers generally pay a lot more for car insurance than any group on the road. That's because young, inexperienced drivers are statistically much more likely to get into accidents since they have less experience on the roads.

But that doesn't mean teen drivers can't still save money on their insurance. Just look at the table above -- where 18-year-old drivers who have Mississippi Farm Bureau for their car insurance pay more than $100 less than those who use GEICO. It's worth noting that GEICO offers auto insurance in 50 different states compared to Mississippi Farm Bureau's one, which can skew the average premiums a bit, but the difference here is still considerable.

Even so, both companies will drop rates by the time you turn 25. For example, average prices for GEICO policyholders decrease over $200 and Mississippi Farm Bureau's premiums reduce nearly $150 over that time.

Which is the Best Company for Retired Drivers?

Drivers around retirement age normally enjoy some of the most affordable insurance rates you can find. After all, they've likely been driving for quite some time, which usually lowers their chances of accidents and other infractions that can increase premiums.

But who has the best rates for retired drivers between GEICO and Mississippi Farm Bureau? Mississippi Farm Bureau gets the edge, with prices for drivers 65 and older more than 35% less expensive than the national average for GEICO.

Which is the Best Company for Married Drivers?

Did you know that auto insurance premiums are typically more affordable for married policyholders than they are for single policyholders? That's generally because married couples tend to own and insure more than one car, which can often earn you a discount.

When it comes to relationship status, Mississippi Farm Bureau is the clear winner for those who are single, with prices about $48 a month cheaper than GEICO, on average. For married drivers, the advantage is clear again - Mississippi Farm Bureau has the edge when it comes to average rates.

GEICO vs. Mississippi Farm Bureau: Average Rates by Gender

You may not know, but men typically pay more for insurance than women do. This is because women are less likely to get speeding tickets and get into collisions, which lowers the chances of an insurance claim.

With GEICO, women usually pay around $10 per month less than men, and almost $10 cheaper with Mississippi Farm Bureau when compared to their male counterparts.

Looking at overall affordability, Mississippi Farm Bureau offers the lowest average premiums for both men and women, with average rates 25% less for men and 27% cheaper for women.

GEICO or Mississippi 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. There are so many different terms and coverages that it can make it pretty confusing to find the right policy.

That being said, the most common 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 normally refers to having comprehensive and collision coverages in addition to liability coverage).

If you're looking for state minimum limits for liability insurance, Mississippi Farm Bureau usually offers more affordable prices of $80 compared to GEICO's $101. When it comes to full coverage policies with similar limits, Mississippi Farm Bureau again has the edge, with policies about $75 a month cheaper than GEICO, on average.

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

You've probably seen plenty of commercials from 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.

You'll probably end up paying more with tickets and at-fault collisions on your record, but which of these two companies offers the most affordable premiums to drivers with less-than-ideal driving records?

Which Company is Best for Drivers with Speeding Tickets?

GEICO policyholders can expect their prices to go up an average of $35 per month if they get a ticket, while Mississippi Farm Bureau normally raises premiums around $32 a month, on average.

However, Mississippi Farm Bureau is typically the less expensive option for drivers both with clean records and with a speeding ticket -- their rates are around 12% more affordable for drivers with clean records and 11% less expensive for those with a ticket.

Which Company is Best for Drivers After an Accident?

Both carriers will raise prices pretty significantly if you get into an at-fault accident with GEICO climbing by $85. Mississippi Farm Bureau has a less extreme increase, but you can still expect to pay just under $35 more than you were prior to your first collision.

Overall, the cheaper rates come from Mississippi Farm Bureau, with monthly prices averaging $135 compared to GEICO's $200.

Which Company is Best for Drivers with a DUI?

If you get a DUI charge, you can expect some pretty significant increases in your monthly car insurance bill -- generally a lot more than a collision or ticket. On average, GEICO will climb your rates about 58% after a DUI, while Mississippi Farm Bureau's average premiums increase by just under 45%.

Mississippi Farm Bureau has the overall cheapest rates for drivers with a DUI on their records at $179 per month, but it's worth noting that GEICO's average rates come from 50 states compared to just one for Mississippi Farm Bureau, so the data may be skewed slightly.

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

In many cases, your credit score can come into play when companies determine your monthly bill. This isn't always the case (for example, Michigan and Hawaii are two states that ban the practice entirely), but it will come into play for several drivers.

The reasoning auto insurance carriers use is that policyholders with bad credit will be less likely to pay their bills on time; so normally, they'll be asked to pay more, while those with good credit will be rewarded with more affordable prices.

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

Which Company is Best for Drivers with Good Credit?

If you have great credit, you'll usually find a better deal with Mississippi Farm Bureau. Policyholders with "excellent" credit can save over 25% compared to GEICO, and those with "good" scores can also expect to see savings -- around $48 or 29% cheaper each month.

Which Company is Best for Drivers with Bad Credit?

Mississippi Farm Bureau typically offers lower rates than GEICO when it comes to drivers with less-than-perfect credit. Drivers with "fair" credit pay about $64 per month less with Mississippi Farm Bureau compared to GEICO, and those with "poor" scores typically save an average of around $51 a month.

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

How much you drive can have a large impact on how much car insurance companies will charge for coverage. Usually, the more miles you put on your vehicle each year, the more you can expect to pay for coverage.

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

GEICO vs. Mississippi 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 insurance, but the type of area you live in can have a pretty big impact as well. Generally, if you live in a rural area with fewer cars on the road, you'll pay a little less for auto insurance, while the opposite is true for people in urban areas.

Mississippi Farm Bureau boasts the cheapest average premiums for drivers in all areas, regardless of if they're urban, suburban, or rural.

For drivers in urban ZIP codes, Mississippi Farm Bureau offers rates around $161 per month compared to GEICO's $211. People who live in suburban ZIP codes can expect to pay about $139 a month for Mississippi Farm Bureau and $185 for GEICO. Lastly, those in rural areas tend to get the lowest prices from both carriers, with average monthly premiums coming in at $110 and $159 for Mississippi Farm Bureau and GEICO respectively.

GEICO vs. Mississippi Farm Bureau Discounts

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

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

Below, we've taken a look at all of the different discounts GEICO and Mississippi Farm Bureau offer their customers so that you can easily see which company offers the most discounts and, therefore, the biggest savings.

GEICO knocks Mississippi Farm Bureau out of the park when it comes to the sheer number of discounts available, offering 28 different discounts to Mississippi Farm Bureau's five.

There are a couple discounts both companies offer, but GEICO also offers ABS discounts, anti-theft discounts, commercial drivers license discounts, and more that Mississippi Farm Bureau does not.

Mississippi Farm Bureau's discounts come through just a few categories, including Defensive Driver, Distant Student, Driver Training, and more.

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

So, you've seen how different variables can affect your auto insurance rates. We've shown you all the discounts each carrier offers, too. That's all well and good, but at the end of the day, which company is the right fit for you?

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

• You want to save money on your insurance after an accident.
• You have above-average credit.
• You're buying auto insurance for a teen and looking for a wallet-friendly option.

GEICO might be best for you if...

• You already have plans to move to another state -- Mississippi Farm Bureau Insurance is only available in Mississippi.
• You're looking for the carrier with the most discounts.

We hope this guide has ben a valuable resource as you compare GEICO and Mississippi Farm Bureau and that it aids in making a more informed decision about your car 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 GEICO and Mississippi Farm Bureau. Luckily, Compare.com makes it easy for you to do just that. Just enter your ZIP code below and get multiple quotes from some of the best auto insurance companies in your area, all for free.

GEICO vs. Mississippi Farm Bureau FAQs

Is GEICO or Mississippi Farm Bureau cheaper?

Looking just at the national average premiums, Mississippi Farm Bureau is the cheaper of the two carriers, offering average rates of $137 per month compared to $185 for GEICO. That being said, Mississippi Farm Bureau won't necessarily be the cheapest company for each policyholder, since there are a bunch of different factors that come into play when it comes to your car insurance payment.

Who is better, GEICO or Mississippi Farm Bureau?

Sadly, the answer truly is "it depends.". No single carrier is necessarily "better" for every driver -- it all boils down to your unique auto insurance profile.

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

Car insurance companies take a look at a lot of different variables when calculating the rates they charge policyholders. Things like gender, where you live, your driving record, age, and sometimes even things like your credit score can all be taken into consideration. Both GEICO and Mississippi Farm Bureau calculate prices using different factors, so each one will most likely offer different premiums. The only real way to see which company is the most affordable for you is by comparing personalized quotes from a variety of different carriers.

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

The only way to find the insurance carrier that's right for you is by getting quotes from several companies 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 free quotes from dozens of the best auto insurance carriers in your area. With those, you can guarantee you're getting the lowest price. And who knows, the best company for you might not be GEICO or Mississippi 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.