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

Quick Facts

• Based on national averages for car insurance, Oklahoma Farm Bureau offers slightly more affordable rates than GEICO
• GEICO has cheaper premiums for drivers who have a speeding ticket on their driving record
• Oklahoma Farm Bureau tends to be a much less expensive option for policyholders who are looking to purchase insurance with a spouse

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

So, you're considering switching to 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've maybe even narrowed your search down to GEICO or Oklahoma Farm Bureau for your next policy, but which company has cheaper prices for auto insurance?

As you can see, GEICO is around $11 more a month than Oklahoma Farm Bureau when looking at the national average rates for insurance.

That being said, that doesn't necessarily mean Oklahoma Farm Bureau will be the more affordable option for every single driver. After all, car insurance carriers can offer drastically different rates to every driver depending on rating factors like where you call home, your driving record, your credit score, or even your age (among other things). So, at the end of the day, rates from each company will differ quite a bit from person to person.

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

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

GEICO and Oklahoma Farm Bureau only compete against each other in Oklahoma, where GEICO offers the cheaper average rates. GEICO drivers tend to pay about $15 per month less on average compared to drivers who use Oklahoma Farm Bureau for their auto insurance.

That being said, there's a lot more that goes into your insurance cost than just where you call home. Continue reading to see how other variables will affect your rates.

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 normally because teen drivers are statistically much more likely to get into an accident that results in a car insurance claim, making them much riskier to insure.

Even so, that doesn't mean that teen drivers have to just accept sky-high insurance premiums. Just look at the table above -- where 18-year-old drivers who have GEICO for their car insurance pay 1% less than those who use Oklahoma Farm Bureau. It's worth noting that GEICO offers auto insurance in 50 different states compared to Oklahoma Farm Bureau's one, which can skew the average prices a bit, but the difference here is still considerable.

However, both companies will reduce premiums by the time drivers turn 25. For example, average rates for GEICO policyholders lower over 55% and Oklahoma Farm Bureau's premiums decrease almost 55% over that time.

Which is the Best Company for Retired Drivers?

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

But who has the best rates for retired drivers between GEICO and Oklahoma Farm Bureau? Oklahoma Farm Bureau gets the edge here, with average premiums coming in at about $119 a month compared to GEICO's $148.

Which is the Best Company for Married Drivers?

Single drivers tend to get offered slightly more expensive car insurance prices than married policyholders. That's because policies for married couples usually cover more than one vehicle, which several carriers will give you a discount for.

For those who are single, the difference in average rates between these two companies is not very significant, with Oklahoma Farm Bureau premiums coming in at around 2% less than GEICO's. But for married drivers, the advantage is clear - Oklahoma Farm Bureau has the edge when it comes to average prices.

GEICO or Oklahoma Farm Bureau: Average Rates by Gender

Because women are less likely to get tickets and get into collisions, they have a decreased chance of filing a claim with insurance. So, insurance carriers will tend to charge women less than men.

With GEICO, men generally pay about $10 a month more than women, and around $25 with Oklahoma Farm Bureau.

Looking at overall affordability, Oklahoma Farm Bureau comes out as the lowest option for both genders, with average rates 1% less for men and 11% cheaper for women.

GEICO vs. Oklahoma 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.

Auto insurance isn't the easiest topic to understand. Everyone needs car 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 end up falling into two different types of coverage -- liability coverage (which provides bodily injury and property damage coverage for other drivers if you cause a collision) 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 liability insurance, Oklahoma Farm Bureau has the slight edge, with average monthly prices coming in at $93. If you want a full coverage policy with the same state minimum limits, Oklahoma Farm Bureau again has the edge, with policies averaging about $256 per month to GEICO's $269.

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

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

Speeding tickets and at-fault collisions will most likely raise your premiums, but is GEICO or Oklahoma Farm Bureau less expensive for drivers with spotty records?

Which Company is Best for Drivers with Speeding Tickets?

Policyholders who use GEICO for their car insurance can normally expect their monthly bill to go up around 23% after getting a speeding ticket. Oklahoma Farm Bureau policyholders can expect a less drastic increase of about 10%.

But GEICO has cheaper prices for drivers in both categories, offering rates that are 19% and 5% more affordable, respectively, compared to Oklahoma Farm Bureau Insurance.

Which Company is Best for Drivers After an Accident?

GEICO drivers who get in an accident can expect to see their premiums increase by just under 45%, while those who have insurance through Oklahoma Farm Bureau will see around a 10% increase.

At the end of the day, drivers who use Oklahoma Farm Bureau end up with the cheaper prices after an accident, with average prices coming in at $158 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 ticket or even a collision. On average, GEICO will climb your premiums about 58% after a DUI, while Oklahoma Farm Bureau's average rates climb by more than 40%.

Oklahoma Farm Bureau has the overall most affordable prices for drivers with a DUI on their records at $240 per month, but it's worth noting that GEICO's average rates come from 50 states compared to just one for Oklahoma Farm Bureau, so the data may be skewed slightly.

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

You may not have known, but your credit score can be used as one of the factors to determine your monthly auto insurance premiums. Certain states and companies do not allow for credit score to be used as an auto insurance factor, but it might come into play for a lot of policyholders.

Insurance carriers argue that someone with bad credit is less likely to pay their bills on time, which makes them riskier to insure. Because of that, drivers with bad credit will often be forced to pay more.

Looking specifically at Oklahoma Farm Bureau and GEICO, which carrier has the best rates for policyholders at different credit levels?

Which Company is Best for Drivers with Good Credit?

If you have solid credit, GEICO will typically reward you the most. For drivers with "excellent" credit scores, GEICO comes in nearly 24.71 less expensive. Drivers with "good" credit scores normally save around 6% with GEICO compared to average premiums from Oklahoma Farm Bureau.

Which Company is Best for Drivers with Bad Credit?

Oklahoma Farm Bureau typically offers lower prices than GEICO when it comes to drivers with less-than-perfect credit. Drivers with "fair" credit pay about 11% a month less with Oklahoma Farm Bureau compared to GEICO, and those with "poor" scores typically save an average of around 31% monthly.

Is GEICO or Oklahoma 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 substantial impact on your monthly rates? That's because the fewer miles you put on your car each year, 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 Oklahoma Farm Bureau charges. However, there's a small difference in monthly premiums for GEICO, with policyholders who drive the least paying about $8 less every month compared to those who drive 12,000 miles yearly. Still, for drivers in both categories, Oklahoma Farm Bureau is the cheaper company.

GEICO or Oklahoma 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 car insurance, but the type of area you live in can have a sizable impact as well. Generally, policyholders who live in less densely populated rural areas will pay quite a bit less than urban drivers since there are a lot fewer vehicles on the road where they live, which decreases the chances of an accident.

Oklahoma Farm Bureau usually comes out as the less expensive option for drivers in rural and urban areas, while GEICO wins in suburban areas.

Those in rural areas can expect to save around $7 with Oklahoma Farm Bureau compared to GEICO. People who live in suburban areas pay about $4 less with GEICO compared to Oklahoma Farm Bureau. For policyholders in urban ZIP codes, Oklahoma Farm Bureau Insurance's average rates are around $29 less than GEICO.

GEICO vs. Oklahoma Farm Bureau Discounts

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

But with what seems like a million different discounts out there, it can be challenging to find all the ones you're eligible for 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 compared all of the different discounts offered by GEICO and Oklahoma Farm Bureau so that you can easily see which company offers the most discounts and see which ones you might be able to take advantage of.

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

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

Oklahoma Farm Bureau's discounts come through just a few categories, including Defensive Driver, Good Student, Group Discount, and more.

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

So, we've broken down the average prices 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 Oklahoma Farm Bureau the best one for you, your vehicle, and your wallet?

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

• You will be the only person on the car insurance policy.
• You're looking for the best rates on liability only coverage.
• You're of retirement age and want to take advantage of lower premiums.

GEICO might be best for you if...

• You value the experience that comes with a large national insurance company.
• You have received a ticket within the last few years.
• You want to save money while purchasing auto insurance for a teenager.

Hopefully, this guide has ben a valuable resource as you compare GEICO and Oklahoma Farm Bureau and that you can now make a more informed decision when it comes to your 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 multiple companies, not just GEICO and Oklahoma Farm Bureau. Luckily, Compare.com makes it easy for you to do just that. Simply enter your ZIP codes below and get multiple quotes from some of the best auto insurance carriers in your area, all for free.

GEICO vs. Oklahoma Farm Bureau FAQs

Is GEICO or Oklahoma Farm Bureau cheaper?

Oklahoma Farm Bureau is the more affordable of the two companies when looking at national average prices, with policies averaging $174 per month with Oklahoma Farm Bureau and $185 for GEICO. However, that doesn't mean Oklahoma Farm Bureau will be the lowest carrier for everyone, since there are several different factors (things like driving record, age, gender, etc.) that play a role in how much you pay.

Who is better, GEICO or Oklahoma Farm Bureau?

Unfortunately, the answer truly is "it depends.". No one company is "better" for each policyholder -- it all depends on what your unique insurance profile looks like. For example, GEICO is less expensive for drivers with excellent credit, while Oklahoma Farm Bureau offers cheaper premiums for drivers with a recent DUI.

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

Auto insurance carriers use many different variables when determining the rates they charge. Factors like where you call home, age, where you live, gender, and sometimes even things like your credit score can all be taken into consideration. Both GEICO and Oklahoma Farm Bureau calculate premiums using 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 a variety of different companies.

How do I know if GEICO or Oklahoma 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, sites like Compare.com do all the hard work for you. Just enter your information once and you'll get quotes from dozens of your local top insurance companies for free. That way, you can guarantee you're getting the best price. And maybe you'll find that the best carrier for you isn't GEICO or Oklahoma 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.