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

Quick Facts

• Based on national averages for insurance, Southern Farm Bureau offers significantly cheaper premiums than GEICO
• GEICO may help you save more money -- they offer more discounts than Southern Farm Bureau Insurance
• Southern Farm Bureau offers more affordable rates for policyholders who drive fewer than 6,000 miles yearly

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

Are you considering a new insurance policy? You've probably seen commercials and billboards from companies offering big savings, but exactly how much money can you save by switching?

You might be considering GEICO or Southern Farm Bureau, but which one will save you the most?

Looking at the national average rates for both carriers, Southern Farm Bureau has average rates that are around 45% a month less expensive than those from GEICO.

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

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

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

GEICO and Southern Farm Bureau only compete against each other in Arkansas, where Southern Farm Bureau offers the cheaper average premiums. Southern Farm Bureau drivers tend to pay about $32 per month less on average compared to drivers who use GEICO for their insurance.

There are plenty of other factors that go into your auto insurance cost than just the state you live in. Keep reading to learn 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.

However, that doesn't mean that teen drivers have to just accept sky-high auto insurance prices. For example, 18-year-old drivers pay an average of over 45% less a month by choosing Southern Farm Bureau over GEICO. It's worth noting that GEICO offers insurance in 50 different states compared to Southern Farm Bureau's one, which can skew the average rates a bit, but the difference here is still considerable.

Even so, both carriers will offer you dramatically lower prices once you turn 25. For example, average premiums for GEICO policyholders decrease about $200 and Southern Farm Bureau's rates reduce around $100 over that time.

Which is the Best Company for Retired Drivers?

Drivers around retirement age normally enjoy some of the most affordable car insurance premiums out there. After all, they've likely been driving for quite some time, which generally decreases their chances of collisions and other infractions that can raise prices.

So, which carrier offers the best rates to retired drivers? Southern Farm Bureau gets the edge, with prices for drivers 65 and older $72 less expensive than the national average for GEICO.

Which is the Best Company for Married Drivers?

Did you know that insurance rates are usually more expensive for single drivers than they are for married drivers? That's because policies for married policyholders normally cover more than one vehicle, which a lot of companies will give you a discount for.

For single policyholders, the difference in average premiums between these two carriers is significant, with Southern Farm Bureau rates coming in at about half of GEICO's. The advantage for married couples with Southern Farm Bureau is also obvious, where drivers save almost $75 per month.

GEICO or Southern Farm Bureau: Average Rates by Gender

Men are statistically more likely than women to get into accidents and file an insurance claim. That means when it comes to car insurance men will usually end up paying a little more.

With GEICO, men typically pay around $10 a month more than women, and about $6 with Southern Farm Bureau.

When it comes to the lowest premiums for each gender, Southern Farm Bureau comes out as the cheapest option for both genders, with average prices 44% less for men and 45% cheaper for women.

GEICO vs. Southern 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 a variety of different coverages that account for a range of different things. Some protect you and your car, while others only provide coverage for other people's property and health if you cause a collision.

That being said, most policies end up falling into two different types of coverage -- 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 -- in addition to what you get with liability coverage).

Looking specifically at state minimum liability insurance, Southern Farm Bureau has the significant edge, with average monthly rates coming in at $54. If you want a full coverage policy with the same state minimum limits, Southern Farm Bureau again has the edge, with policies averaging around $151 per month to GEICO's $269.

Is GEICO or Southern 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.

It's no secret secret that speeding tickets and at-fault collisions lead to higher prices, but which company -- GEICO or Southern Farm Bureau -- has the lowest premiums for drivers with spotty records?

Which Company is Best for Drivers with Speeding Tickets?

Policyholders who use GEICO for their auto insurance can generally expect their monthly bill to go up about 23% after getting a speeding ticket. Southern Farm Bureau policyholders can expect a less drastic increase of around 8%.

But Southern Farm Bureau is normally the more affordable option for both drivers who have clean records and those with a recent ticket, offering prices that are $26 and $53 cheaper, respectively, compared to GEICO.

Which Company is Best for Drivers After an Accident?

Both companies will increase rates pretty significantly if you get into an at-fault collision with GEICO climbing by about 43%. Southern Farm Bureau has a less extreme raise, but you can still expect to pay nearly 25% more than you were prior to your first accident.

At the end of the day, the more affordable premiums come from Southern Farm Bureau, with average rates coming in at $116 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. GEICO drivers usually see a 58% climb in their insurance prices after a DUI charge, while Southern Farm Bureau will typically increase premiums by around 18%.

Southern Farm Bureau has the overall cheapest prices for drivers with a DUI on their records at $108 monthly, but it's worth noting that GEICO's average rates come from 50 states compared to just one for Southern Farm Bureau, so the data may be skewed slightly.

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

Did you know many car insurance carriers take your credit score into account when determining premiums? This isn't true for everyone (California, for example, has banned the use of credit score as an auto insurance factor) but it might come into play for quite a few drivers.

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

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

Which Company is Best for Drivers with Good Credit?

If you have solid credit, Southern Farm Bureau will usually reward you the most. For policyholders with "excellent" credit scores, Southern Farm Bureau comes in more than 45.04 cheaper. Drivers with "good" credit scores generally save about 48% with Southern Farm Bureau compared to average premiums from GEICO.

Which Company is Best for Drivers with Bad Credit?

Southern Farm Bureau typically offers lower rates than GEICO when it comes to drivers with a below average credit score. Drivers with "fair" credit pay around 46% a month less with Southern Farm Bureau compared to GEICO, and those with "poor" scores usually save an average of about 42% a month.

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

How much you drive can have a sizable impact on your monthly prices. Normally, those who drive less will end up with less expensive premiums 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 Southern Farm Bureau charges. However, there's a small difference in monthly prices for GEICO, with policyholders who drive 6,000 miles annually paying around $8 less every month compared to those who drive 12,000 miles each year. Still, for drivers in both categories, Southern Farm Bureau is the more affordable company.

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

Where you call home can have a large impact on your monthly auto insurance payment. Generally, if you live in an urban area with more cars on the road, you'll pay a little more for insurance, while the opposite is true for people in rural areas.

When comparing these two carriers side-by-side, Southern Farm Bureau typically comes out as the lowest option for drivers in every type of area, no matter if it's urban, suburban, or rural.

For drivers in urban ZIP codes, Southern Farm Bureau's average rates are about $110 per month compared to GEICO's $211. Drivers in suburban ZIP codes pay a monthly premium of around $115 with Southern Farm Bureau compared to $185 with GEICO. Those in rural areas can expect to pay about $83 per month with Southern Farm Bureau compared to GEICO's $159.

GEICO vs. Southern 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 where do you even start? With so many discounts out there, it may seem hard to find all the of the ones you qualify for.

Luckily, we did the hard work for you and broke down all of the different discounts offered by both GEICO and Southern Farm Bureau so that you can easily see which company offers the most discounts and, therefore, the largest savings.

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

Both companies offer a lot of the same discounts -- like discounts for being a defensive driver, discounts for being a good student, and multi-policy discounts -- but GEICO also offers discounts for ABS, anti-theft, commercial drivers license, and more.

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

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

So, we've broken down the average prices for many of the variables auto insurance carriers look at, and we've shown you all the discounts each carrier offers. But, when it comes down to it, which insurance company is the best carrier for you and your specific needs?

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

• You have an at-fault collision on your record.
• You already have a great credit score.
• You're married and plan to have both of your names on the vehicle's car insurance policy.

GEICO might be best for you if...

• You already have plans to move to another state -- Southern Farm Bureau Insurance only offers policies in Arkansas.
• You want to save extra money with discounts.

Hopefully, this guide helps you get a good idea of the differences between GEICO and Southern Farm Bureau and that it aids in making a more informed decision about 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 auto insurance -- comparing quotes from several companies, not just GEICO and Southern Farm Bureau. Luckily, sites like Compare.com make it easy for you to do just that. Simply enter your ZIP codes below and get free quotes from dozens of top insurance carriers in your area, all in just a few minutes.

GEICO vs. Southern Farm Bureau FAQs

Is GEICO or Southern Farm Bureau cheaper?

Southern Farm Bureau is the less expensive of the two companies when looking at national average premiums, with policies averaging $103 a month with Southern Farm Bureau and $185 for GEICO. Even so, that doesn't mean Southern Farm Bureau will be the most affordable carrier for every driver, since there are a bunch of different factors that are considered when it comes to your auto insurance bill.

Who is better, GEICO or Southern Farm Bureau?

Sadly, the answer truly is "it depends.". No one company is "better" for everyone -- it all boils down to your unique car insurance profile.

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

Auto insurance carriers use several different variables when calculating the rates they charge. Things such as gender, age, your driving record, where your home is, and sometimes even things like your credit score can all come into play. Both GEICO and Southern Farm Bureau use different formulas, so it's likely they'll offer different premiums. The best way to determine which carrier is the cheapest for you is by comparing personalized quotes from multiple different companies.

How do I know if GEICO or Southern 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 multiple carriers and finding the one best suited for your individual budget. Luckily, Compare.com does all the hard work for you. Just enter your area information and you'll get quotes from dozens of your local top insurance companies for free. With those, you can guarantee you're getting the most affordable price. And maybe you'll find that the best carrier for you isn't GEICO or Southern 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.