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

Quick Facts

• In general, North Carolina Farm Bureau offers significantly more affordable premiums than GEICO
• GEICO offers more discounts than North Carolina Farm Bureau
• North Carolina Farm Bureau has less expensive prices for drivers who have less-than-stellar credit

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

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

You might have narrowed it down to GEICO or North Carolina Farm Bureau, but between the two, which company will offer you cheaper rates?

As you can see, North Carolina Farm Bureau is quite a bit cheaper than GEICO, with premiums averaging $130 per month compared to $185 with GEICO when looking at the national average rates for insurance.

That being said, that doesn't mean North Carolina Farm Bureau will necessarily be more affordable than GEICO for each driver. Car insurance companies use a ton of complex algorithms to calculate prices, so depending on where you live or how good your credit score is (among numerous other factors), you could see wildly different premiums from the ones above.

So, if you want to find out which of GEICO or North Carolina Farm Bureau is really the best for you, keep reading to see average rates for each company broken down by a range of different rate factors.

GEICO or North Carolina Farm Bureau: Average Car Insurance Rates by State

GEICO and North Carolina Farm Bureau only compete against each other in North Carolina, where North Carolina Farm Bureau offers the cheaper average prices. For North Carolina residents, North Carolina Farm Bureau offers auto insurance for $130 per month on average. GEICO's average premiums come out to be over 20% more expensive, at $158 a month.

But there's more to insurance than just the state you live in. As we mentioned above, there's a lot of things that go into how car insurance carriers determine your prices. Read on to find out more.

Which is the Best Company For Young Drivers?

You might already know that teen drivers generally pay a lot more for auto insurance than any group out there on the road. Usually, 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.

But still, even with seemingly sky-high rates, teen drivers can still find ways to save money. Just look at the table above -- where 18-year-old drivers who have North Carolina Farm Bureau for their car insurance pay nearly $200 less than those who use GEICO. It's worth noting that GEICO offers insurance in 50 different states compared to North Carolina Farm Bureau's one, which can skew the average premiums a bit, but the difference here is still considerable.

However, with both companies, you'll see your prices drop significantly by the time you turn 25. For example, average rates for GEICO policyholders decrease more than $200 and North Carolina Farm Bureau's premiums reduce about $65 over that time.

Which is the Best Company for Retired Drivers?

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

So, which carrier offers the best prices to retired drivers? North Carolina Farm Bureau gets the edge here, with average rates coming in at around $120 monthly compared to GEICO's $148.

Which is the Best Company for Married Drivers?

Married couples tend to get slightly less expensive insurance prices than those who are single. That's typically because married drivers tend to own and insure multiple cars, which can often earn you a discount.

When it comes to relationship status, North Carolina Farm Bureau is the clear winner for single drivers, with premiums about $71 a month cheaper than GEICO, on average. The advantage is also clear for married policyholders - North Carolina Farm Bureau offers the most affordable average rates.

GEICO vs. North Carolina Farm Bureau: Average Rates by Gender

Because men are more likely to get into collisions and get tickets, they have a higher chance of filing a claim with insurance. Therefore, insurance carriers will often charge men more than women.

Typically, women see prices almost $10 per month more affordable with GEICO; women and men get the same monthly premiums with North Carolina Farm Bureau.

When it comes to the cheapest rates for each gender, North Carolina Farm Bureau comes out on top for both men and women, with average prices 31% less for men and 28% cheaper for women.

GEICO or North Carolina 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 many different coverages that account for a bunch of different things. Some protect you and your vehicle, while others only provide coverage for other people's property and health if you cause an accident.

But the most common policies that many drivers look at fall into two categories -- liability only (which covers the other party's injuries and property damage if you cause a collision) and full coverage (which includes comprehensive and collision coverages that protect your own vehicle, in addition to what you get with liability).

If you're looking for state minimum liability limits, North Carolina Farm Bureau normally offers cheaper premiums of $78 compared to GEICO's $101. When it comes to full coverage policies with similar limits, North Carolina Farm Bureau again has the edge, with policies around $85 a month less expensive than GEICO, on average.

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

It's no big secret that drivers who are accident-free get better deals on their car insurance. But even if you have a spotty record, you can still find plenty of ways to save some cash on your monthly bill.

You'll probably end up paying more with tickets and at-fault accidents on your record, but which of these two companies offers the lowest rates to drivers with spotty records?

Which Company is Best for Drivers with Speeding Tickets?

GEICO policyholders can expect their premiums to go up an average of $35 per month if they get a ticket, while North Carolina Farm Bureau usually raises prices about $29 a month, on average.

Even so, North Carolina Farm Bureau tends to offer the best prices for drivers both with a speeding ticket and with a clean record, offering rates that are $44 and $50 cheaper, respectively, compared to GEICO.

Which Company is Best for Drivers After an Accident?

After an accident, drivers who have their insurance through GEICO can expect to see around an $85 -- or about 43% -- increase in their auto insurance premiums. Drivers who use North Carolina Farm Bureau for their car insurance will see a monthly bill around $29 (or 29%) more expensive after reporting an accident to their insurance company.

Overall, the less expensive prices come from North Carolina Farm Bureau, with monthly premiums averaging $100 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 auto insurance bill -- generally a lot more than a collision or ticket. For example, North Carolina Farm Bureau increases average rates by just under $200 per month -- that's over a 70% increase.

North Carolina Farm Bureau has the overall most affordable prices for drivers with a DUI on their records at $250 per month, but it's worth noting that GEICO's average rates come from 50 states compared to just one for North Carolina Farm Bureau, so the data may be skewed slightly.

How does Credit Score Impact GEICO and North Carolina Farm Bureau Rates?

Often times, your credit score can be used as one of the factors to calculate your monthly car insurance premiums. Certain states and carriers do not allow for credit score to be used as a rating factor, but it might come into play for lots of drivers.

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

So, which carrier offers the lowest rates for drivers with good, average, or poor credit?

Which Company is Best for Drivers with Good Credit?

If you have solid credit, you'll usually find a better deal with North Carolina Farm Bureau. Policyholders with "excellent" credit can save more than 25% compared to GEICO, and those with "good" scores can also expect to see savings -- about $52 or 32% cheaper each month.

Which Company is Best for Drivers with Bad Credit?

North Carolina Farm Bureau typically offers lower premiums than GEICO when it comes to drivers with a below average credit score. Drivers with "fair" credit pay around $71 a month less with North Carolina Farm Bureau compared to GEICO, and those with "poor" scores normally save an average of about $69 a month.

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

The amount of time you spend behind the wheel of your car plays a big role in how much insurance carriers will charge for coverage. Usually, those who drive fewer miles will end up with less expensive prices 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 North Carolina Farm Bureau charges. However, there's a small difference in monthly rates for GEICO, with drivers who put 6,000 miles on their car every year paying around $8 less each month compared to those who drive 12,000 miles yearly. Still, North Carolina Farm Bureau is the more affordable option for drivers in both categories.

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

Where you call home can play a sizable role in how much you pay for car insurance. Normally, if you live in an urban area with more cars on the road, you'll pay a little more for auto insurance, while the opposite is true for people in rural areas.

When comparing these two companies side-by-side, North Carolina Farm Bureau typically comes out as the most affordable option for drivers in all types of areas, no matter if they're urban, suburban, or rural.

In urban areas, North Carolina Farm Bureau's average rates are about 43% less than GEICO. Drivers in suburban ZIP codes pay around 23% less with North Carolina Farm Bureau compared to GEICO. If you live in a rural area, you can expect to save about 21% with North Carolina Farm Bureau compared to GEICO.

GEICO vs. North Carolina 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 insurance discounts as you can.

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

Below, we've taken a look at all of the different discounts GEICO and North Carolina Farm Bureau offer their customers so that you can see which carrier offers the most discounts and see which ones you might be able to take advantage of.

GEICO blows North Carolina Farm Bureau away when it comes to the sheer amount of discounts available, offering 25 more discounts than North Carolina Farm Bureau.

Both carriers offer many of the same discounts -- like paid in full discounts and passive restraint discounts -- but GEICO also offers ABS discounts, anti-theft discounts, commercial drivers license discounts, and more that North Carolina Farm Bureau does not.

On the flip side, North Carolina Farm Bureau has a unique discount of its own -- a protection plus discounts.

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

You've seen the role certain variables have on your auto insurance and the different discounts companies offer. But, at the end of the day, which company is the best one for you and your specific driver profile?

North Carolina Farm Bureau might be best for you if....

• You live in one of the following states: North Carolina.
• You have above-average credit.
• You live in a rural area.

GEICO might be best for you if...

• You value the experience that comes with a large national car insurance carrier.
• You want to save extra money with discounts.

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

At the end of the day, the sure-fire way to make sure you're getting the best deal on your auto insurance policy is to compare quotes from several carriers, not just GEICO and North Carolina 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 insurance companies in your area, all in just a few minutes.

GEICO vs. North Carolina Farm Bureau FAQs

Is GEICO or North Carolina Farm Bureau cheaper?

Looking just at the national average prices, North Carolina Farm Bureau is the cheaper of the two carriers, offering average rates of $130 per month compared to $185 for GEICO. But North Carolina Farm Bureau won't necessarily be the lowest company for everyone, since there are a variety of different factors that are considered when it comes to your car insurance bill.

Who is better, GEICO or North Carolina Farm Bureau?

Sadly, the only answer we can give you is "it depends.". One carrier is not necessarily "better" for every driver -- it all boils down to your unique auto insurance profile.

Why do GEICO and North Carolina Farm Bureau offer me different rates?

Insurance companies take a look at quite a few different variables when calculating the rates they charge drivers. Things such as where your home is, gender, age, where you live, and sometimes even things like your credit score can all be taken into consideration. Both GEICO and North Carolina Farm Bureau use different formulas, so each one will most likely offer different prices. The only real way to see which company is the most affordable for you is by comparing personalized quotes from lots of different carriers.

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

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