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

Quick Facts

• In general, Virginia Farm Bureau offers significantly less expensive rates than GEICO
• GEICO may help you save more money -- they offer more discounts than Virginia Farm Bureau Insurance
• Virginia Farm Bureau offers more affordable premiums for drivers with a DUI

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

So, you're thinking about switching to a new insurance policy. After all, you've seen ads from all sorts of companies offering huge savings. But exactly how much can you save by switching?

You might be considering GEICO or Virginia Farm Bureau for your next policy, but which company will save you the most?

Looking at nationwide averages, GEICO has average rates that are around 45% a month more expensive than those from Virginia Farm Bureau.

That being said, that doesn't mean Virginia Farm Bureau will necessarily be more affordable than GEICO for each driver. Car insurance carriers use tons of complex algorithms to determine rates, so depending on where you live or how old you are (among multiple other factors), you could see wildly different prices from the ones above.

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

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

GEICO and Virginia Farm Bureau only compete against each other in Virginia, where Virginia Farm Bureau offers the cheaper average premiums. Virginia Farm Bureau drivers tend to pay about $21 per month less on average compared to drivers who use GEICO for their auto insurance.

But there's more to car insurance than just your home state. As we mentioned above, there's a lot of things that go into how insurance companies calculate your prices. Read on to learn more.

Which is the Best Company For Young Drivers?

Teen drivers will almost always have the most expensive car insurance rates of any group out there on the road. It's because teen 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 premiums, teen drivers can still find ways to save money. Just look at the table above -- where 18-year-old drivers who have Virginia Farm Bureau for their auto insurance pay over 45% less than those who use GEICO. It's worth noting that GEICO offers insurance in 50 different states compared to Virginia Farm Bureau's one, which can skew the average prices a bit, but the difference here is still considerable.

Even so, with both carriers, you'll see your premiums reduce significantly by the time drivers turn 25. For example, average prices for GEICO policyholders drop more than 55% and Virginia Farm Bureau's rates decrease almost 60% over that time.

Which is the Best Company for Retired Drivers?

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

When looking at GEICO and Virginia Farm Bureau specifically, which carrier is best for retired drivers? Virginia Farm Bureau gets the edge here, with average rates coming in at about $91 a month compared to GEICO's $148.

Which is the Best Company for Married Drivers?

Married policyholders tend to get slightly cheaper auto insurance premiums than single policyholders. That's generally because married couples tend to own and insure more than one vehicle, which can often earn you a discount.

For single drivers, the difference in average prices between these two companies is significant, with Virginia Farm Bureau rates coming in at around half of GEICO's. The advantage for married drivers with Virginia Farm Bureau is also obvious, where drivers save over 45% a month.

GEICO or Virginia Farm Bureau: Average Rates by Gender

Men are statistically more likely than women to get into a collision or get pulled over for speeding. That means when it comes to insurance men will usually end up paying a little more.

Typically, women see prices about $10 per month more affordable with GEICO, and around $4 cheaper with Virginia Farm Bureau when compared to their male counterparts.

Looking at the data for each company specifically, Virginia Farm Bureau comes out as the lowest option for both genders, with average rates 46% less for men and 45% cheaper for women.

GEICO vs. Virginia 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. There are so many different terms and limits that it can make it pretty confusing to find the right policy for you.

But most policies that drivers look at fall into two categories -- liability coverage (which provides bodily injury and property damage coverage for other drivers and passengers 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).

Looking specifically at state minimum liability insurance, Virginia Farm Bureau has the significant edge, with average monthly premiums coming in at $66. If you want a full coverage policy with the same state minimum limits, Virginia Farm Bureau again has the edge, with policies averaging about $136 a month to GEICO's $269.

Is GEICO or Virginia 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.

It's no secret secret that speeding tickets and at-fault accidents lead to higher prices, but which carrier -- GEICO or Virginia Farm Bureau -- has the most affordable rates for drivers with less-than-perfect 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. Virginia Farm Bureau policyholders can expect a bit more drastic of an increase of about 23%.

However, Virginia Farm Bureau tends to offer the best prices for drivers both with a ticket and with a clean record. With Virginia Farm Bureau Insurance, drivers with a clean record can save around $33 per month and drivers with a speeding ticket can save about $43 a month.

Which Company is Best for Drivers After an Accident?

Both carriers will increase premiums pretty significantly if you get into an at-fault collision with GEICO raising by around 43%. Virginia Farm Bureau has a less extreme raise, but you can still expect to pay more than 20% more than you were prior to your first accident.

At the end of the day, drivers who use Virginia Farm Bureau end up with the cheaper prices after an accident, with average rates coming in at $105 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 collision or ticket when it comes to your insurance bill. On average, GEICO will climb your prices about 58% after a DUI, while Virginia Farm Bureau's average premiums rise by over 25%.

Virginia Farm Bureau has the overall cheapest rates for drivers with a DUI on their records at $111 per month, but it's worth noting that GEICO's average rates come from 50 states compared to just one for Virginia Farm Bureau, so the data may be skewed slightly.

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

Did you know many auto insurance companies take into account your credit score when determining premiums? This isn't true for everyone (California, for example, has banned the use of credit score as an insurance factor) but it does affect many drivers out there.

Car insurance carriers argue that those with good credit scores are more likely to pay their bills on time every month, which reduces the risk involved on their end, while the opposite is true for those with bad credit.

So, which company offers the best prices for policyholders with poor, average, or good credit?

Which Company is Best for Drivers with Good Credit?

If you have solid credit, Virginia Farm Bureau will usually reward you the most. For drivers with "excellent" credit scores, Virginia Farm Bureau comes in more than 50.38 less expensive. Drivers with "good" credit scores generally save around 46% with Virginia Farm Bureau compared to average premiums from GEICO.

Which Company is Best for Drivers with Bad Credit?

Virginia Farm Bureau typically offers lower rates than GEICO when it comes to drivers with a below average credit score. Drivers with "fair" credit pay about 45% per month less with Virginia Farm Bureau compared to GEICO, and those with "poor" scores typically save an average of around 44% monthly.

Is GEICO or Virginia 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 auto insurance companies will charge for coverage. Normally, those who drive fewer miles will end up with cheaper prices since there's less of a chance of causing a collision and filing an insurance claim.

Virginia Farm Bureau tends to be the less expensive option for both remote workers and those taking short commutes. GEICO's average premiums for drivers with 6,000 annual miles come in about 45% more expensive than Virginia Farm Bureau. Those who drive 12,000 miles yearly can expect to pay around 46% more with GEICO over Virginia Farm Bureau.

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

Where you call home can have a big impact on your monthly insurance payment. Generally, those who live in rural areas will pay less than policyholders in urban areas due to the small number of cars that are on the roads where they live.

Virginia Farm Bureau tends to offer the most affordable premiums for drivers in all types of areas, no matter if they're urban, suburban, or rural.

For drivers in urban ZIP codes, Virginia Farm Bureau Insurance's average rates are about $102 less than GEICO. People who live in suburban areas pay around $69 less with Virginia Farm Bureau compared to GEICO. Those in rural areas can expect to save about $81 with Virginia Farm Bureau compared to GEICO.

GEICO vs. Virginia Farm Bureau Discounts

No matter why you might be in the market for a new car insurance policy, you're always going to want to save as much money as you can, and the best way to do that is by taking advantage of as many insurance discounts as possible.

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

Luckily, we did the hard work for you and broke down all of the different discounts offered by both GEICO and Virginia Farm Bureau so that you can find the one that has the most discounts and, therefore, the largest savings.

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

Both carriers offer quite a few of the same discounts -- like ABS discounts, discounts for being a defensive driver, and discounts for getting driver training -- but GEICO also offers discounts for anti-theft, commercial drivers license, COVID-19 relief, and more.

On the other hand, Virginia Farm Bureau has a few proprietary discounts of their own like new business discounts and umbrella policy discounts.

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

So, we've broken down the average prices for many of the variables car insurance companies look at, and we've shown you all the discounts each carrier offers. But, when it comes down to it, is GEICO or Virginia Farm Bureau the best carrier for you and your specific needs?

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

• You don't have any speeding tickets, DUIs, or at-fault collisions on your record.
• You live in an suburban area.
• You want to save money while purchasing auto 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 good idea of the differences between GEICO and Virginia Farm Bureau and that it aids in making a more informed decision about your car insurance.

At the end of the day, the best way to make sure you're getting the best deal on your auto insurance policy is to compare quotes from a handful of carriers, not just GEICO and Virginia Farm Bureau. Luckily, sites like Compare.com do all the hard work for you. Simply enter your ZIP codes below and get multiple quotes from some of the best car insurance companies in your area, all for free.

GEICO vs. Virginia Farm Bureau FAQs

Is GEICO or Virginia Farm Bureau cheaper?

Virginia Farm Bureau is the cheaper of the two carriers when looking at national average rates, with policies averaging $101 a month with Virginia Farm Bureau and $185 for GEICO. Even so, that doesn't mean Virginia Farm Bureau will be the lowest carrier for each policyholder, since there are multiple different factors that come into play when it comes to your insurance cost.

Who is better, GEICO or Virginia Farm Bureau?

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

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

Car insurance companies use lots of different variables when calculating the premiums they charge. Things such as your driving record, age, gender, where you park your vehicle, and sometimes even things like your credit score can all come into play. Both GEICO and Virginia Farm Bureau use different formulas, so it's likely they'll offer different prices. The best way to determine which carrier is the most affordable for you is by comparing personalized quotes from a bunch of different carriers.

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

The only way to find the auto insurance company that's right for you is by getting quotes from several 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 quotes from dozens of your local top insurance carriers for free. With those, you can guarantee you're getting the best premium. And maybe you'll find that the best carrier for you isn't GEICO or Virginia 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.