Hastings Mutual vs. Indiana Farm Bureau: Which Company is the Best Fit for You?

Quick Facts

• In general, Indiana Farm Bureau offers more affordable rates than Hastings Mutual
• Hastings Mutual offers less expensive average prices for drivers who have an at-fault accident on their record
• Indiana Farm Bureau tends to be a much cheaper option for policyholders who may not have much of a commute

Hastings Mutual vs. Indiana Farm Bureau: Which Company has the Cheapest Car Insurance?

So, you're thinking about switching your auto insurance. You've probably seen commercials and billboards from companies offering large discounts, but exactly how much money can you save by switching?

You might have narrowed your search down to Hastings Mutual or Indiana Farm Bureau, but which company will save you the most?

Looking at the national average rates for both companies, Hastings Mutual is about $31 more per month than Indiana Farm Bureau.

But that doesn't mean Indiana Farm Bureau will necessarily be more affordable than Hastings Mutual for each driver. After all, auto insurance carriers can offer drastically different rates to each driver depending on rating factors like your credit score, your driving record, your age, or even where you call home (among other things), so premiums will change quite a bit from person to person.

Luckily, we've broken down average rates from both Hastings Mutual and Indiana Farm Bureau by many different rate factors, so read on to find out which company is the best for you.

Hastings Mutual or Indiana Farm Bureau: Average Car Insurance Rates by State

Hastings Mutual and Indiana Farm Bureau only compete against each other in Indiana, where Hastings Mutual offers the cheaper average prices. For Indiana residents, Hastings Mutual offers insurance for $123 monthly on average. Indiana Farm Bureau's average rates come out to be over 40% more expensive, at $180 per month.

That being said, there are plenty of other factors that go into your car insurance payment than just where you call home. Read on to find out more.

Which is the Best Company For Young Drivers?

Teen drivers will almost always have the most expensive insurance prices of any group out there on the road. That's because young, inexperienced drivers are statistically much more likely to get into accidents since they have less experience on the roads.

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 Hastings Mutual for their auto insurance pay more than $70 less than those who use Indiana Farm Bureau.

However, with both companies, you'll see your rates lower significantly once you turn 25. For example, average prices for Hastings Mutual policyholders reduce over $150 and Indiana Farm Bureau's premiums drop nearly $300 over that time.

Which is the Best Company for Retired Drivers?

When it comes to insurance, patience and experience pay off, with drivers around retirement age paying some of the lowest prices you'll ever see.

So, which carrier offers the best rates to retired drivers? Indiana Farm Bureau gets the edge here, with average premiums coming in at around $124 a month compared to Hastings Mutual's $167.

Which is the Best Company for Married Drivers?

Did you know that car insurance rates are usually less expensive for married policyholders than they are for single drivers? This usually boils down to married drivers having more than one car on their policy -- something a lot of auto insurance carriers will reward with discounts.

When it comes to relationship status, the two companies are comparable for single policyholders, with premiums only differing about $17 a month, on average. But for married couples, the advantage is clear - Indiana Farm Bureau offers the most affordable average prices.

Hastings Mutual vs. Indiana Farm Bureau: Average Rates by Gender

Men are statistically more likely than women to get pulled over for speeding or get into an accident, which means they'll generally end up paying more for car insurance than women.

With Hastings Mutual, women typically pay around 2% per month less than men, while with Indiana Farm Bureau, the difference is closer to 13% a month.

When it comes to the lowest rates for each gender, Indiana Farm Bureau comes out on top for both men and women. On average, male drivers save about $20 per month and women save about $41 with Indiana Farm Bureau compared to the average Hastings Mutual policyholder.

Hastings Mutual or Indiana 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 lots of different coverages that account for a bunch of different things. Some protect you and your vehicle, while others only provide coverage for other people's property and health if you cause a collision.

That being said, the most common policies that many drivers look at fall into two categories -- liability only (which provides property damage and bodily injury coverage for other drivers if you cause an accident) and full coverage (which normally refers to having comprehensive and collision coverages alongside liability coverage).

If you're looking for state minimum liability limits, Indiana Farm Bureau typically offers significantly cheaper premiums of $97 compared to Hastings Mutual's $142. When it comes to full coverage policies with similar limits, Indiana Farm Bureau again has the edge, with policies around $15 a month less expensive than Hastings Mutual, on average.

Is Hastings Mutual or Indiana Farm Bureau Better for Drivers with Spotty Records?

It's no big secret that drivers who are accident-free get better deals on their insurance. But even if you have a spotty record, you can still find plenty of ways to save some cash on your monthly bill.

Tickets and accidents will most likely raise your prices, but is Hastings Mutual or Indiana Farm Bureau more affordable for drivers with spotty records?

Which Company is Best for Drivers with Speeding Tickets?

Hastings Mutual policyholders can expect their rates to go up an average of $20 per month if they get a ticket, while Indiana Farm Bureau normally raises prices about $56 a month, on average.

Even so, Hastings Mutual has less expensive premiums for drivers in both categories -- their rates are around 11% cheaper for drivers with clean records and 28% more affordable for those with a ticket.

Which Company is Best for Drivers After an Accident?

Both carriers will increase prices pretty significantly if you get into an at-fault collision with Indiana Farm Bureau raising by over $70. Hastings Mutual has a less extreme increase, but you can still expect to pay more than $15 more than you were prior to your first accident.

Overall, the cheaper rates come from Hastings Mutual, with monthly premiums averaging $126 compared to Indiana Farm Bureau Insurance's $195.

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 speeding ticket when it comes to your auto insurance bill. Hastings Mutual drivers usually see a 77% climb in their car insurance rates after a DUI charge, while Indiana Farm Bureau will usually increase premiums by around 45%.

If you have a DUI on your record and are looking for more affordable prices, Indiana Farm Bureau tends to be the much more affordable option with average premiums of $224 per month compared to $478 from Hastings Mutual.

How does Credit Score Impact Hastings Mutual and Indiana Farm Bureau Rates?

Did you know that many insurance companies take your credit score into account when calculating rates? This isn't always the case (for example, Hawaii and Michigan are two states that ban the practice entirely), but it might come into play for many drivers.

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

Looking specifically at Hastings Mutual and Indiana Farm Bureau, which one has the cheapest rates for drivers at different credit levels?

Which Company is Best for Drivers with Good Credit?

If you have solid credit, you'll usually find a better deal with Indiana Farm Bureau. Policyholders with "excellent" credit can save just under 35% compared to Hastings Mutual, and those with "good" scores can also expect to see savings -- about $52 or 27% more affordable every month.

Which Company is Best for Drivers with Bad Credit?

If you have bad credit, it can be somewhat of a toss-up as far as which company offers you the best premiums. Drivers with "fair" credit pay around $27 less with Indiana Farm Bureau than Hastings Mutual, but those whose credit is considered "poor" have it flipped -- saving about $13 per month with Hastings Mutual.

Is Hastings Mutual or Indiana 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 sizable impact on your monthly auto insurance bill? Typically, those who drive less will end up with cheaper prices since there's less of a chance of getting into a collision and causing an insurance claim.

In this case, neither Hastings Mutual or Indiana Farm Bureau report increasing premiums for drivers with higher annual mileage figures. Still, Indiana Farm Bureau comes out as the most affordable for drivers at both intervals, whether they put 6,000 or 12,000 miles on their vehicle annually, with average rates of $180 a month for both.

Hastings Mutual vs. Indiana 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 insurance, but the type of area you live in can have a big impact as well. Generally, drivers who live in heavily-populated urban areas will pay quite a bit more than rural policyholders because of the number of cars that are on the roads in those areas.

When comparing these two companies side-by-side, Indiana Farm Bureau boasts the lowest average prices in rural and urban areas, while Hastings Mutual wins in suburban areas.

If you live in a rural area, you can expect to pay around $156 a month with Indiana Farm Bureau and $164 with Hastings Mutual. Drivers in suburban ZIP codes pay about $177 with Hastings Mutual compared to Indiana Farm Bureau's $197 monthly. For drivers in urban ZIP codes, Indiana Farm Bureau's average premiums are around $187 while Hastings Mutual offers rates about $291.

Hastings Mutual vs. Indiana 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, and the best way to do that is by taking advantage of as many car insurance discounts as you can.

The challenging part is finding all of the discounts you qualify for, since it can feel sometimes like every company has different discounts and each one is advertised differently.

In the section below, we've broken down all of the different discounts offered by both Hastings Mutual and Indiana Farm Bureau so that you can easily see which company offers the most discounts and, therefore, the biggest savings.

Looking at the total number of discounts, Indiana Farm Bureau comes out ahead with 15 discounts to Hastings Mutual's 10.

There are a couple discounts both carriers offer, but Indiana Farm Bureau also offers agri-business discounts, education discounts, employee discounts, and more that Hastings Mutual does not.

On the flip side, Hastings Mutual has a couple unique discounts of its own -- anti-theft discounts, company car discounts, discounts for being a defensive driver, and more.

Final Thoughts: Is Hastings Mutual or Indiana Farm Bureau Best for You?

You've seen the role certain factors have on your insurance and the different discounts companies offer. But, when it comes down to it, which carrier is the right carrier for you and your specific driver profile?

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

• You want to save extra money with discounts.
• You live in a rural area.
• You are purchasing your auto insurance with a spouse.

Hastings Mutual might be best for you if...

• You have a clean driving record, free of collisions, tickets, or DUIs.
• Your driving record contains an at-fault accident.
• You're buying car insurance for a teen and looking for a wallet-friendly option.

We hope this guide helps you get a better idea of the difference between Hastings Mutual and Indiana Farm Bureau. We also hope we've given you the information you need to make the best decision about your insurance.

At the end of the day, the sure-fire way to make sure you're getting the best deal on your car insurance policy is to compare quotes from several carriers, not just Hastings Mutual and Indiana Farm Bureau. Luckily, sites like Compare.com make it easy for you to do just that. Just enter your ZIP code below and get multiple free quotes from some of the best insurance companies in your area, all in just a few minutes.

Hastings Mutual vs. Indiana Farm Bureau FAQs

Is Hastings Mutual or Indiana Farm Bureau cheaper?

Looking just at the national average prices, Indiana Farm Bureau is the less expensive of the two carriers, offering average rates of $180 per month compared to $211 for Hastings Mutual. But Indiana Farm Bureau won't necessarily be the cheapest company for everyone, since there are several different variables that are considered when it comes to your auto insurance cost.

Who is better, Hastings Mutual or Indiana Farm Bureau?

Sadly, the only answer we can give you is "it depends.". No one carrier is necessarily "better" for everyone -- it all boils down to your unique car insurance profile.

Why do Hastings Mutual and Indiana Farm Bureau offer me different rates?

Insurance companies take a look at several different factors when determining the rates they charge drivers. Things like age, where you call home, your driving record, gender, and sometimes even things like your credit score can all be used. Both Hastings Mutual and Indiana Farm Bureau use different formulas, so each one will most likely offer different prices. The only real way to see which company is the most affordable for you is by comparing personalized quotes from multiple different carriers.

How do I know if Hastings Mutual or Indiana Farm Bureau is right for me?

The only way to find the auto 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, Compare.com makes it easy for you to do just that. Just enter your ZIP code and you'll get free quotes from dozens of the best insurance carriers in your area. With those, you can guarantee you're getting the cheapest price. And who knows, the best company for you might not be Hastings Mutual or Indiana 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.