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

Quick Facts

• Based on national averages for auto insurance, Missouri Farm Bureau offers significantly more affordable premiums than GEICO
• GEICO may help you save more money -- they offer more discounts than Missouri Farm Bureau Insurance
• Missouri Farm Bureau has cheaper rates for policyholders who live in suburban areas

GEICO or Missouri Farm Bureau: Which Company has the Cheapest Car Insurance?

Are you considering a new insurance policy? With so many ads from all sorts of companies offering big savings, you're probably wondering exactly how much you might be able to save.

You might have narrowed it down to GEICO or Missouri Farm Bureau as your top options, but between the two, which carrier will offer you less expensive prices?

Looking at the national average rates for both carriers, GEICO is quite a bit more expensive than Missouri Farm Bureau, with premiums averaging $185 a month compared to just $111 with Missouri Farm Bureau.

That being said, that doesn't mean Missouri Farm Bureau will necessarily be more affordable than GEICO for every single driver. Car insurance companies use tons of complex algorithms to determine rates, so depending on how old you are or how clean your driving record is (among many other factors), you could see wildly different prices from the ones above.

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

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

GEICO and Missouri Farm Bureau only compete against each other in Missouri, where Missouri Farm Bureau offers the cheaper average rates. Missouri Farm Bureau drivers tend to pay about $150 per month less on average compared to drivers who use GEICO for their auto insurance.

That being said, there's a lot more that goes into your insurance payment than just your home state. Keep reading to find out more.

Which is the Best Company For Young Drivers?

Young drivers -- especially teens -- typically pay a lot for car insurance compared to older drivers. It's because teen drivers are statistically much more likely to get into accidents since they have less experience on the roads.

Even so, that doesn't mean that teen drivers have to just accept sky-high insurance prices. As you can see above, teens who use Missouri Farm Bureau save over 30% a month compared to those who use GEICO. It's worth noting that GEICO offers auto insurance in 50 different states compared to Missouri Farm Bureau's one, which can skew the average rates a bit, but the difference here is still considerable.

However, with both carriers, you'll see your premiums reduce significantly by the time drivers turn 25. Missouri Farm Bureau offers the steepest reduction, with 25-year-olds paying less than a third of what 18-year-old drivers are charged. GEICO's average rates drop more than 55% during that same period.

Which is the Best Company for Retired Drivers?

Once you approach retirement age, you'll generally enjoy the most affordable car insurance prices out there. You've been on the road for years, and all that experience pays off when it comes to your monthly premiums for insurance.

But who has the best prices for retired drivers between GEICO and Missouri Farm Bureau? Missouri Farm Bureau gets the edge, with rates for drivers 65 and older over 45% cheaper than the national average for GEICO.

Which is the Best Company for Married Drivers?

Married policyholders tend to get slightly less expensive auto insurance premiums than single policyholders. That's because policies for married drivers usually cover several vehicles, which lots of companies will give you a discount for.

For those who are single, the difference in average rates between these two carriers is significant, with Missouri Farm Bureau prices coming in at a third less than GEICO's. The advantage for married couples with Missouri Farm Bureau is also obvious, where drivers save almost 45% per month.

GEICO or Missouri Farm Bureau: Average Rates by Gender

Men are statistically more likely than women to get pulled over for speeding or get into a collision. That means when it comes to car insurance men will normally end up paying a little more.

With GEICO, women typically pay around $10 a month less than men, but with Missouri Farm Bureau, the difference is closer to $17 per month.

When it comes to the lowest premiums for each gender, Missouri Farm Bureau comes out as the most affordable option for both genders, with average prices $70 less for men and $79 cheaper for women.

GEICO vs. Missouri 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.

For most people, insurance can be pretty complicated. Everyone needs auto insurance, but there are so many different coverages and limits that it can be hard to find the right policy for you.

The two most common policies that drivers look at fall into two categories -- liability coverage (which covers the other party's injuries and property damage if you cause an accident) and full coverage (which includes two additional coverages -- collision and comprehensive -- alongside what you get with a liability policy).

Looking specifically at state minimum limits for liability insurance, Missouri Farm Bureau has the significant edge, with average monthly premiums coming in at $51. If you want a full coverage policy with the same state minimum limits, Missouri Farm Bureau again has the edge, with policies averaging about $170 a month to GEICO's $269.

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

It's no secret -- drivers with good records end up getting the best deals on their car insurance. But that's not to say you can't save money if you don't have the best driving record, either.

Collisions and speeding tickets will most likely raise your rates, but is GEICO or Missouri Farm Bureau cheaper for drivers with spotty records?

Which Company is Best for Drivers with Speeding Tickets?

Policyholders who use GEICO for their insurance can generally expect their monthly bill to go up around 23% after getting a speeding ticket. Missouri Farm Bureau policyholders can expect a less drastic increase of about 5%.

But Missouri Farm Bureau is normally the more affordable option for both drivers who have a recent ticket and those with clean records, offering prices that are $18 and $48 cheaper, respectively, compared to GEICO.

Which Company is Best for Drivers After an Accident?

Both companies will raise rates pretty significantly if you get into an at-fault collision with GEICO climbing by around 43%. Missouri Farm Bureau has a less extreme climb, but you can still expect to pay more than 10% more than you were prior to your first accident.

At the end of the day, Missouri Farm Bureau offers the cheapest premiums for drivers with an at-fault collision on their records, with average prices coming in at $109 compared to GEICO's $200.

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 speeding ticket or even a collision. On average, GEICO will raise your premiums about 58% after a DUI, while Missouri Farm Bureau's average rates climb by nearly 30%.

Missouri Farm Bureau has the overall lowest premiums for drivers with a DUI on their records at $134 per month, but it's worth noting that GEICO's average rates come from 50 states compared to just one for Missouri Farm Bureau, so the data may be skewed slightly.

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

Did you know many car insurance carriers take into account your credit score when determining prices? Certain states and companies do not allow for credit score to be used as a car insurance factor, but it will come into play for many drivers.

Auto 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 company offers the cheapest rates for policyholders with good, average, or poor credit?

Which Company is Best for Drivers with Good Credit?

If you have great credit, Missouri Farm Bureau will usually reward you the most. For drivers with "excellent" credit scores, Missouri Farm Bureau comes in just under 33.59 less expensive. Drivers with "good" credit scores typically save around 41% with Missouri Farm Bureau compared to average prices from GEICO.

Which Company is Best for Drivers with Bad Credit?

Missouri Farm Bureau typically offers lower premiums than GEICO when it comes to drivers with a below average credit score. Drivers with "fair" credit pay about 45% per month less with Missouri Farm Bureau compared to GEICO, and those with "poor" scores generally save an average of around 40% monthly.

Is GEICO or Missouri 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 large impact on your monthly rates? Usually, those who drive less will end up with more affordable prices since there's less of a chance of causing an accident and filing an insurance claim.

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

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

Where you call home can have a big impact on your monthly car insurance cost. Normally, policyholders who live in heavily-populated urban areas will pay quite a bit more than rural drivers due to the number of cars that are on the roads where they live.

Missouri Farm Bureau tends to offer the most affordable rates for drivers in all areas, regardless of if they're urban, suburban, or rural.

In urban areas, Missouri Farm Bureau's average prices are around $132 while GEICO offers premiums about $211. People in suburban areas pay a monthly price of around $109 with Missouri Farm Bureau compared to $185 with GEICO. If you live in a rural area, you can expect to pay about $90 a month with Missouri Farm Bureau and $159 with GEICO.

GEICO vs. Missouri Farm Bureau Discounts

No matter why you might be in the market for a new insurance policy, you're always going to want to save as much money as you can. That's where auto insurance discounts comes into play.

But with what seems like a million different discounts out there, it can be hard to find all the ones you can take advantage of or to nail down the company that has the most discounts for your unique driver profile.

Luckily, we did the hard work for you and looked at all of the different discounts GEICO and Missouri Farm Bureau offer their customers so that you can easily see which company offers the most discounts and, therefore, the largest savings.

GEICO blows Missouri Farm Bureau away when it comes to the sheer amount of discounts available, offering 28 different discounts to Missouri Farm Bureau's seven.

There are a couple discounts both companies offer, but GEICO also offers discounts for ABS, anti-theft, commercial drivers license, and more.

On the other hand, Missouri Farm Bureau has a few proprietary discounts of their own for things like hybrid vehicle discounts, occupation discounts, and preferred customer discounts.

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

You've seen the role certain variables have on your insurance and the different discounts carriers offer. But, when it comes down to it, is GEICO or Missouri Farm Bureau the best company for you and your specific profile and needs?

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

• You will be the only person on the car insurance policy.
• Your credit score is high.
• You have a short drive to work everyday.

GEICO might be best for you if...

• You're planning on moving to another state soon -- Missouri Farm Bureau Insurance is only available to Missouri residents.
• You care about discounts (GEICO offers the most).

Hopefully, this guide has ben a valuable resource as you compare GEICO and Missouri Farm Bureau and that it aids in making a more informed decision about 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 Missouri Farm Bureau. Luckily, sites like Compare.com do all the hard work for you. Just enter your ZIP code below and get multiple free quotes from some of the best insurance carriers in your area, all in just a few minutes.

GEICO vs. Missouri Farm Bureau FAQs

Is GEICO or Missouri Farm Bureau cheaper?

Missouri Farm Bureau is the cheaper of the two companies when looking at national average rates, with policies averaging $111 a month with Missouri Farm Bureau and $185 for GEICO. That being said, that doesn't mean Missouri Farm Bureau will be the lowest carrier for every policyholder, since there are a range of different factors that are considered when it comes to your auto insurance bill.

Who is better, GEICO or Missouri Farm Bureau?

Sadly, the real answer is "it depends.". One company is not necessarily "better" for each policyholder -- it all boils down to your unique insurance profile.

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

Auto insurance carriers use quite a few different variables when calculating the prices they charge. Things such as your driving record, gender, where you park your vehicle, age, and sometimes even things like your credit score can all be used. Both GEICO and Missouri Farm Bureau use different formulas, so it's likely they'll offer different rates. The best way to determine which carrier is the most affordable for you is by comparing personalized quotes from several different companies.

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

The only way to find the car 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 makes it easy for you to do just that. Just enter your information once and you'll get quotes from dozens of your local top insurance companies for free. With those, you can guarantee you're getting the lowest premium. And maybe you'll find that the best carrier for you isn't GEICO or Missouri 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.