GEICO vs. South Carolina Farm Bureau: Which Company is Best for You?

Quick Facts

• Looking at the national averages for insurance, South Carolina Farm Bureau offers significantly cheaper prices than GEICO
• GEICO may help you save more money -- they offer more discounts than South Carolina Farm Bureau Insurance
• South Carolina Farm Bureau has less expensive premiums for policyholders who haven't received any speeding tickets or been in a collision in the last few years

GEICO or South Carolina 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 large savings, you're probably wondering exactly how much you might be able to save.

You might have narrowed your search down to GEICO or South Carolina Farm Bureau for your next policy, but between the two, which company has more affordable prices for auto insurance?

Looking at the national average rates for both carriers, South Carolina Farm Bureau has average rates that are around 40% a month cheaper than those from GEICO.

Even so, that doesn't necessarily mean South Carolina Farm Bureau will be the more affordable option for every single driver. Insurance companies vary their premiums depending on things like how old you are, how clean your driving record is, how good your credit score is, where you live, and a ton of other factors, so rates could differ drastically from person to person.

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

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

GEICO and South Carolina Farm Bureau only compete against each other in South Carolina, where South Carolina Farm Bureau offers the cheaper average premiums. South Carolina Farm Bureau drivers tend to pay about $16 per month less on average compared to drivers who use GEICO for their auto insurance.

But there's more to calculating car insurance rates than just where you live. Continue reading to learn more about how other variables will affect your rates.

Which is the Best Company For Young Drivers?

Young drivers -- especially teens -- generally pay a lot for insurance compared to older drivers. The reason is that teen drivers are statistically much more likely to get into an accident that results in an insurance claim, making them much riskier to insure.

But still, even with seemingly sky-high premiums, teen drivers can still find ways to save money. Just look at the table above -- where 18-year-old drivers who have South Carolina Farm Bureau for their auto insurance pay almost 40% less than those who use GEICO. It's worth noting that GEICO offers car insurance in 50 different states compared to South Carolina Farm Bureau's one, which can skew the average prices a bit, but the difference here is still considerable.

That being said, both carriers will offer you dramatically lower rates once you turn 25. For example, average prices for GEICO policyholders decrease over 55% and South Carolina Farm Bureau's premiums reduce nearly 50% over that time.

Which is the Best Company for Retired Drivers?

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

When looking at GEICO and South Carolina Farm Bureau specifically, which company is best for retired drivers? South Carolina Farm Bureau gets the edge, with premiums for drivers 65 and older $73 less expensive than the national average for GEICO.

Which is the Best Company for Married Drivers?

You may not be aware, but insurance rates tend to be cheaper for married drivers than they are for single drivers. This usually boils down to married policyholders having several vehicles on their policy -- something several car insurance companies will reward with discounts.

For single policyholders, the difference in average prices between these two carriers is significant, with South Carolina Farm Bureau premiums coming in at a third less than GEICO's. The advantage is also clear for married couples - South Carolina Farm Bureau offers the most affordable average rates.

GEICO or South Carolina Farm Bureau: Average Rates by Gender

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

Typically, men see prices about $10 a month higher with GEICO, and around $6 with South Carolina Farm Bureau.

When it comes to the lowest rates for each gender, South Carolina Farm Bureau comes out on top for both men and women. On average, women save about $73 per month and men save about $75 with South Carolina Farm Bureau compared to the average GEICO policyholder.

GEICO vs. South 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.

For most people, insurance isn't the easiest topic to understand. There are so many different terms and coverages that it can make it pretty confusing to find the right policy for you.

However, most policies end up falling into two different types of coverage -- liability coverage (which covers the other party's property damage and injuries if you cause an accident) and full coverage (which typically refers to having collision and comprehensive coverages in addition to what you get with liability coverage).

Looking specifically at state minimum limits for liability insurance, South Carolina Farm Bureau has the edge, with average monthly prices coming in at $78. If you want a full coverage policy with the same state minimum limits, South Carolina Farm Bureau again has the edge, with policies averaging around $144 a month to GEICO's $269.

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

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

You'll probably end up paying more with speeding tickets and collisions on your record, but which of these two carriers offers the cheapest premiums to 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 about 23% after getting a speeding ticket. South Carolina Farm Bureau policyholders can expect a less drastic increase of around 11%.

But South Carolina Farm Bureau has less expensive rates for drivers in both categories. With South Carolina Farm Bureau Insurance, drivers with a clean record can save about $20 per month and drivers with a ticket can save around $43 a month.

Which Company is Best for Drivers After an Accident?

GEICO drivers who get in a collision can expect to see their premiums increase by just under 45%, while those who have insurance through South Carolina Farm Bureau will see about a 25% increase.

At the end of the day, South Carolina Farm Bureau offers the most affordable prices for drivers with an at-fault collision on their records, with average rates coming in at $125 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 an accident. On average, GEICO will increase your prices around 58% after a DUI, while South Carolina Farm Bureau's average premiums climb by nearly 20%.

South Carolina Farm Bureau has the overall cheapest rates for drivers with a DUI on their records at $116 per month, but it's worth noting that GEICO's average rates come from 50 states compared to just one for South Carolina Farm Bureau, so the data may be skewed slightly.

How does Credit Score Impact GEICO and South Carolina 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 prices. 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 lots of policyholders.

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

Looking specifically at South Carolina Farm Bureau and GEICO, which carrier has the best prices for policyholders at different credit levels?

Which Company is Best for Drivers with Good Credit?

If you have great credit, South Carolina Farm Bureau will typically reward you the most. For drivers with "excellent" credit scores, South Carolina Farm Bureau comes in just under 42.75 cheaper. Drivers with "good" credit scores generally save about 43% with South Carolina Farm Bureau compared to average premiums from GEICO.

Which Company is Best for Drivers with Bad Credit?

South Carolina Farm Bureau typically offers lower rates than GEICO when it comes to drivers with less-than-perfect credit. Drivers with "fair" credit pay around 44% per month less with South Carolina Farm Bureau compared to GEICO, and those with "poor" scores usually save an average of about 35% monthly.

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

How much you drive can have a substantial impact on your monthly insurance cost. That's because the more milage you drive, the more likely you are to be in a collision 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 South Carolina Farm Bureau charges. However, there's a small difference in monthly prices for GEICO, with policyholders who drive the least paying around $8 less every month compared to those who drive 12,000 miles annually. Still, for drivers in both categories, South Carolina Farm Bureau is the less expensive carrier.

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

Where your home is can have a sizable impact on your monthly auto insurance payment. Normally, those who live in rural areas will pay less than policyholders in urban areas since there are a lot fewer cars on the roads where they live.

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

Those in rural areas can expect to save about 28% with South Carolina Farm Bureau compared to GEICO. People who live in suburban areas pay around 44% less with South Carolina Farm Bureau compared to GEICO. For drivers in urban ZIP codes, South Carolina Farm Bureau Insurance's average prices are about 45% less than GEICO.

GEICO vs. South Carolina 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 car insurance discounts as possible.

But with what seems like a million different discounts out there, it can be hard to find all the ones you qualify for or to nail down the carrier 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 South Carolina Farm Bureau so that you can find the one that has the most discounts and, therefore, the largest savings.

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

A couple of those are overlapping for things like discounts for being a defensive driver, discounts for getting driver training, and multi-policy discounts. GEICO also offers discounts for ABS, anti-theft, commercial drivers license, and more.

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

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

So, you've seen how different variables can affect your insurance rates. We've shown you all the discounts each company offers, too. That's all well and good, but when it comes down to it, which carrier is the right company for you and your specific needs?

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

• Your driving record includes a DUI charge.
• You're looking for the best prices on liability only coverage.
• You want to save money while purchasing car insurance for a teenager.

GEICO might be best for you if...

• You value the experience that comes with a large national insurance company.
• You care about discounts (GEICO offers the most).

Hopefully, this guide helps you get a better idea of the difference between GEICO and South Carolina Farm Bureau and that it aids in making a more informed decision about your auto 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 South Carolina Farm Bureau. Luckily, Compare.com makes it easy for you to do just that. Simply enter your ZIP code below and get free quotes from dozens of the top auto insurance carriers in your area, all in just a few minutes.

GEICO vs. South Carolina Farm Bureau FAQs

Is GEICO or South Carolina Farm Bureau cheaper?

South Carolina Farm Bureau is the more affordable of the two companies when looking at national average premiums, with policies averaging $111 a month with South Carolina Farm Bureau and $185 for GEICO. That being said, that doesn't mean South Carolina Farm Bureau will be the cheapest carrier for everyone, since there are several different factors (things like age, driving record, gender, etc.) that play a role in how much you pay.

Who is better, GEICO or South Carolina Farm Bureau?

Unfortunately, the only answer we can give you is "it depends.". One company is not necessarily "better" for everyone -- it all depends on the makeup of your unique insurance profile.

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

Car insurance carriers use quite a few different variables when determining the rates they charge. Factors such as gender, your driving record, where you park your vehicle, age, and sometimes even things like your credit score can all come into play. Both GEICO and South Carolina Farm Bureau calculate premiums using different variables, so it's likely they'll offer different rates. The best way to determine which carrier is the lowest for you is by comparing personalized quotes from lots of different companies.

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

The only way to find the 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 ZIP code and you'll get quotes from dozens of your local top auto insurance companies for free. With those, you can guarantee you're getting the most affordable rate. And maybe you'll find that the best carrier for you isn't GEICO or South Carolina 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.