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

Quick Facts

• Looking at the national averages for insurance, Texas Farm Bureau offers significantly less expensive premiums than GEICO
• GEICO has more affordable prices for drivers with a DUI charge on their record
• Texas Farm Bureau offers more affordable premiums for drivers who have less-than-stellar credit

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

Are you considering a new insurance policy? After all, you've seen ads from all sorts of companies offering big discounts. But exactly how much can you save by switching?

You might have narrowed your search down to GEICO or Texas Farm Bureau as potential options, but between the two, which carrier will offer you cheaper prices?

Looking at nationwide averages, Texas Farm Bureau has average rates that are about 25% per month more affordable than those from GEICO.

That being said, Texas Farm Bureau may not be the lowest or best option for each driver out there. After all, car insurance companies can offer drastically different rates to each driver depending on rating factors like where you call home, your age, your driving record, or even your credit score (among other things), so rates could change drastically from person to person.

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

GEICO or Texas Farm Bureau: Average Car Insurance Rates by State

GEICO and Texas Farm Bureau only compete against each other in Texas, where Texas Farm Bureau offers the cheaper average rates. For Texas residents, Texas Farm Bureau offers insurance for $139 a month on average. GEICO's average prices come out to be over 20% more expensive, at $171 per month.

There are plenty of other factors that go into your auto insurance payment than just your home state. Keep reading to find out more.

Which is the Best Company For Young Drivers?

You might already know that teen drivers typically pay a lot more for insurance than any other group of drivers out there on the road. It's generally 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.

Even so, that doesn't mean teen drivers can't still save money on their auto insurance. For example, 18-year-old drivers pay an average of nearly $150 less a month by choosing Texas Farm Bureau over GEICO. It's worth noting that GEICO offers car insurance in 50 different states compared to Texas Farm Bureau's one, which can skew the average rates a bit, but the difference here is still considerable.

But both carriers will offer you dramatically lower prices by the time you turn 25. Texas Farm Bureau offers the steepest reduction, with 25-year-olds paying a third less what 18-year-old drivers are charged. GEICO's average premiums decrease more than 55% during that same period.

Which is the Best Company for Retired Drivers?

Drivers around retirement age usually enjoy some of the cheapest insurance prices out there. After all, they've likely been driving for quite some time, which normally lowers their chances of accidents and other infractions that can increase premiums.

When looking at GEICO and Texas Farm Bureau specifically, which company is best for retired drivers? Texas Farm Bureau gets the edge here, with average rates coming in at around $102 monthly compared to GEICO's $148.

Which is the Best Company for Married Drivers?

Did you know that auto insurance prices are generally more expensive for single drivers than they are for married couples? That's typically because married drivers tend to own and insure more than one car, which can often earn you a discount.

When it comes to relationship status, Texas Farm Bureau is the clear winner for those who are single, with premiums about $44 per month less expensive than GEICO, on average. The advantage for married policyholders with Texas Farm Bureau is also obvious, where drivers save over 30% a month.

GEICO vs. Texas Farm Bureau: Average Rates by Gender

Women tend to pay less for car insurance than men. This is because men are statistically more likely than women to get into accidents and get speeding tickets, which leads to increased risk for insurers and, therefore, higher rates.

With GEICO, men usually pay almost $10 per month more than women, and around $17 more with Texas Farm Bureau.

When it comes to the most affordable premiums for each gender, Texas Farm Bureau comes out as the cheapest option for both genders. On average, women save about $50 a month and men save about $41 with Texas Farm Bureau compared to the average GEICO policyholder.

GEICO or Texas 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, auto insurance can be pretty complicated. Everyone needs insurance, but there are so many different coverages and limits that it can be hard to find the right policy.

The two 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 an accident) and full coverage (which normally refers to having comprehensive and collision coverages in addition to what you get with a liability policy).

If you're looking for state minimum liability limits, Texas Farm Bureau typically offers cheaper prices of $87 compared to GEICO's $101. When it comes to full coverage policies with similar limits, Texas Farm Bureau again has the edge, with policies around $75 per month less expensive than GEICO, on average.

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

You've probably seen plenty of commercials from car insurance companies offering great rates for good drivers, but that doesn't mean people with less-than-perfect driving records can't save money, too.

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

Which Company is Best for Drivers with Speeding Tickets?

Drivers with Texas Farm Bureau insurance policies don't report seeing their premiums increase after getting a ticket, but GEICO policyholders can expect to see their monthly bill increase by about a quarter.

However, Texas Farm Bureau tends to offer the best prices for drivers both with a ticket and with a clean record. Drivers with a clean record can save around $44 a month with Texas Farm Bureau Insurance, and the same can be said for those with a speeding ticket, too.

Which Company is Best for Drivers After an Accident?

GEICO policyholders who get in a collision can expect to see their rates rise by just under 45%, while those who have insurance through Texas Farm Bureau will see about a 40% increase.

Overall, drivers who use Texas Farm Bureau end up with the cheaper prices after an accident, with monthly premiums averaging $114 compared to GEICO's $200.

Which Company is Best for Drivers with a DUI?

On average, a DUI offense is going to cost you much more than a single accident or ticket when it comes to your auto insurance bill. Texas Farm Bureau drivers usually see a 76% climb in their car insurance rates after a DUI charge, while GEICO will usually raise prices by around 58%.

GEICO has the overall most affordable premiums for drivers with a DUI on their records at $275 per month, but it's worth noting that GEICO's average rates come from 50 states compared to just one for Texas Farm Bureau, so the data may be skewed slightly.

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

Often times, your credit score can be used as one of the factors to calculate your monthly auto insurance rates. This isn't always the case (for example, California and Michigan are two states that ban the practice entirely), but it does affect quite a few drivers out there.

Car insurance companies argue that someone with good credit is more likely to pay their bills on time, which makes them less risky to insure. Because of that, policyholders with good credit will often be rewarded with more affordable prices.

Looking at GEICO and Texas Farm Bureau specifically, which company has the lowest rates for drivers at different credit levels?

Which Company is Best for Drivers with Good Credit?

If you have great credit, you'll usually find a better deal with Texas Farm Bureau. Policyholders with "excellent" credit can save just under 55% compared to GEICO, and those with "good" scores can also expect to see savings -- about $56 or 34% cheaper every month.

Which Company is Best for Drivers with Bad Credit?

Texas Farm Bureau typically offers lower premiums than GEICO when it comes to drivers with bad credit. Drivers with "fair" credit pay around $50 per month less with Texas Farm Bureau compared to GEICO, and those with "poor" scores normally save an average of about $11 monthly.

Is GEICO or Texas 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 prices? Generally, those who drive less will end up with more affordable premiums 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 Texas Farm Bureau charges. However, there's a small difference in monthly prices for GEICO, with drivers who put 6,000 miles on their vehicle annually paying around $8 less each month compared to those who drive 12,000 miles every year. Still, Texas Farm Bureau is the cheaper option for drivers in both categories.

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

Where your home is can play a pretty big role in how much you pay for insurance. Normally, drivers who live in less densely populated rural areas will pay quite a bit less than urban policyholders due to the small number of cars that are on the roads in those areas.

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

In urban areas, Texas Farm Bureau's average rates are about $158 while GEICO offers prices around $211. Drivers in suburban ZIP codes pay a monthly premium of about $128 with Texas Farm Bureau compared to $185 with GEICO. If you live in a rural area, you can expect to pay around $132 a month with Texas Farm Bureau compared to GEICO's $159.

GEICO vs. Texas Farm Bureau Discounts

Regardless of why you might be in the market for a new auto insurance policy, you're always going to want to save as much money as possible. That's where car insurance discounts comes into play.

But with what seems like a million different discounts out there, it can be difficult to nail down the company that has the most discounts for your unique driver profile and to find all the discounts you qualify for.

In the table below, we've compared all of the different discounts offered by GEICO and Texas Farm Bureau so that you can see which one offers the most discounts and see which ones you might be able to take advantage of.

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

There are a couple discounts both companies offer, but GEICO also offers ABS discounts, anti-theft discounts, commercial drivers license discounts, and more that Texas Farm Bureau does not.

On the flip side, Texas Farm Bureau has a unique discount of its own -- a academic discounts.

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

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

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

• You like the personalized touch of a small, regional carrier.
• Your home is located in the suburbs.
• You have a short drive to work everyday.

GEICO might be best for you if...

• You're thinking about moving to another state -- Texas Farm Bureau Insurance is only available in Texas.
• You have a DUI charge on your record.
• You're looking for discounts -- GEICO has the most.

We hope this guide helps you get a good idea of the differences between GEICO and Texas Farm Bureau and that you can now make a more informed decision when it comes to your car 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 carriers, not just GEICO and Texas Farm Bureau. Luckily, sites like Compare.com do all the hard work for you. Just enter your ZIP code below and get multiple quotes from some of the best insurance companies in your area, all for free.

GEICO vs. Texas Farm Bureau FAQs

Is GEICO or Texas Farm Bureau cheaper?

Looking just at the national average prices, Texas Farm Bureau is the less expensive of the two carriers, offering average rates of $139 a month compared to $185 for GEICO. Even so, Texas Farm Bureau won't necessarily be the lowest company for each driver, since there are many different factors (things like age, gender, driving record, etc.) that play a role in how much you pay.

Who is better, GEICO or Texas Farm Bureau?

Sadly, the answer truly is "it depends.". No single carrier is "better" for every driver -- it all boils down to your unique auto insurance profile. For example, GEICO offers more affordable premiums for drivers with a recent DUI, while Texas Farm Bureau is cheaper for drivers with excellent credit.

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

Insurance companies take a look at lots of different variables when calculating the prices they charge drivers. Things like gender, your driving record, where you call home, age, and sometimes even things like your credit score can all be used. Both GEICO and Texas Farm Bureau use different formulas, so each one will most likely offer different premiums. The only real way to see which company is the cheapest for you is by comparing personalized quotes from lots of different carriers.

How do I know if GEICO or Texas 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, sites like Compare.com make 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 rate. And who knows, the best company for you might not be GEICO or Texas 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.