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

Quick Facts

• Based on national averages for insurance, Pekin offers significantly less expensive prices than Indiana Farm Bureau
• Indiana Farm Bureau may help you save more money -- they offer more discounts than Pekin Insurance
• Pekin tends to be a much more affordable option for single people who will be the only person on the auto insurance policy

Indiana Farm Bureau or Pekin: Which Company has the Cheapest Car Insurance?

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

You might have narrowed your search down to Indiana Farm Bureau or Pekin as potential options, but which carrier has cheaper premiums for insurance?

Looking at the national average rates for both carriers, Indiana Farm Bureau has average rates that are around 60% a month more expensive than those from Pekin.

But that doesn't necessarily mean Pekin will be the less expensive option for every single driver. Car insurance companies use tons of complex algorithms to determine prices, so depending on how old you are or how good your credit score is (among several other factors), you could see wildly different rates from the ones above.

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

Indiana Farm Bureau vs. Pekin: Average Car Insurance Rates by State

Both Indiana Farm Bureau and Pekin only offer auto insurance in Indiana, so you'll see that the average figures here will mirror the ones we mentioned above. Pekin drivers tend to pay about $106 per month less on average compared to drivers who use Indiana Farm Bureau for their insurance.

Typically, your home state will play a big role in how much you pay for car insurance, but since both companies only do business in Indiana, multiple other variables will come into play when you compare Indiana Farm Bureau and Pekin. Continue reading to see how other factors 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. That's because teen drivers are statistically much more likely to get into an accident that results in an 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. As you can see above, teens who use Pekin save over 60% a month compared to those who use Indiana Farm Bureau.

That being said, both carriers will reduce prices by the time you turn 25. For example, average rates for Indiana Farm Bureau policyholders drop more than 65% and Pekin's prices decrease almost 65% over that time.

Which is the Best Company for Retired Drivers?

Once you approach retirement age, you'll typically enjoy the most affordable car insurance premiums you can find. You've been on the road for years, and all that experience pays off when it comes to your monthly rates for insurance.

When looking at Indiana Farm Bureau and Pekin specifically, which carrier is best for retired drivers? Pekin gets the edge, with prices for drivers 65 and older nearly 55% more affordable than the national average for Indiana Farm Bureau.

Which is the Best Company for Married Drivers?

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

For single drivers, the difference in average premiums between these two companies is significant, with Pekin prices coming in at about 60% less than Indiana Farm Bureau's. The advantage for married drivers with Pekin is also obvious, where drivers save almost 60% per month.

Indiana Farm Bureau or Pekin: 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 auto insurance men will usually end up paying a little more.

Men normally pay around $25 a month more than women with Indiana Farm Bureau, and about $1 with Pekin.

Looking at overall affordability, Pekin comes out as the lowest option for both genders, with average premiums 61% less for men and 56% cheaper for women.

Indiana Farm Bureau vs. Pekin: 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 coverages and limits 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 usually refers to having collision and comprehensive coverages alongside what you get with a liability policy).

Looking specifically at state minimum liability insurance, Pekin has the significant edge, with average monthly rates coming in at $46. If you want a full coverage policy with the same state minimum limits, Pekin again has the edge, with policies averaging around $103 per month to Indiana Farm Bureau's $263.

Is Indiana Farm Bureau or Pekin 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.

It's no secret secret that speeding tickets and at-fault collisions lead to higher prices, but which company -- Indiana Farm Bureau or Pekin -- has the cheapest premiums for drivers with less-than-ideal driving records?

Which Company is Best for Drivers with Speeding Tickets?

Policyholders who use Indiana Farm Bureau for their car insurance can generally expect their monthly bill to go up about 31% after getting a speeding ticket. Pekin policyholders can expect a less drastic increase of around 19%.

But Pekin tends to offer the best prices for drivers both with clean records and with a ticket -- their rates are around 56% less expensive for drivers with clean records and 63% more affordable for those with a ticket.

Which Company is Best for Drivers After an Accident?

Both carriers will raise rates pretty significantly if you get into an at-fault collision with Indiana Farm Bureau raising by about 37%. Pekin has a less extreme raise, but you can still expect to pay more than 25% more than you were prior to your first accident.

At the end of the day, drivers who use Pekin end up with the cheaper prices after an accident, with average prices coming in at $73 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 insurance bill. For example, Indiana Farm Bureau increases average premiums by more than $100 a month -- that's over a 45% increase.

But if you end up with a DUI charge and are looking for more affordable rates, Pekin tends to be cheaper for the average driver, with monthly premiums coming in at around $104 to Indiana Farm Bureau's $224.

How does Credit Score Impact Indiana Farm Bureau and Pekin Rates?

Did you know many auto insurance companies take your credit score into account when determining premiums? This isn't true for everyone (for example, California and Hawaii are two states that ban the practice entirely), but it does affect lots of drivers out there.

The reasoning car insurance carriers use is that policyholders with good credit will be more likely to pay their bills on time; so they'll reward them with cheaper prices, while those with poor credit will typically be forced to pay more.

Looking at Indiana Farm Bureau and Pekin specifically, which one has the lowest rates for drivers at different credit levels?

Which Company is Best for Drivers with Good Credit?

If you have solid credit, Pekin will usually reward you the most. For policyholders with "excellent" credit scores, Pekin comes in more than 56.76 more affordable. Drivers with "good" credit scores normally save about 57% with Pekin compared to average premiums from Indiana Farm Bureau.

Which Company is Best for Drivers with Bad Credit?

Pekin typically offers lower rates than Indiana Farm Bureau when it comes to drivers with less-than-perfect credit. Drivers with "fair" credit pay around 58% per month less with Pekin compared to Indiana Farm Bureau, and those with "poor" scores typically save an average of about 60% monthly.

Is Indiana Farm Bureau or Pekin 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 less expensive premiums since there's less of a chance of causing a collision 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 Indiana Farm Bureau charges. However, there's a significant difference in monthly prices for Pekin, with policyholders who drive 6,000 miles every year paying around $13 less each month compared to those who drive 12,000 miles yearly. Still, for drivers in both categories, Pekin is the cheaper carrier.

Indiana Farm Bureau or Pekin: Compare Rates for Urban, Suburban, and Rural Drivers

Where you park your car can play a pretty big role in how much you pay for insurance. Usually, those who live in rural areas will pay less than drivers in urban areas since there are a lot fewer vehicles on the roads where they live.

Pekin boasts the cheapest average premiums for drivers in all types of areas, no matter if they're urban, suburban, or rural.

Those in rural areas can expect to save about 55% with Pekin compared to Indiana Farm Bureau. People who live in suburban areas pay around 65% less with Pekin compared to Indiana Farm Bureau. For policyholders in urban ZIP codes, Pekin Insurance's average prices are about 55% less than Indiana Farm Bureau Insurance.

Indiana Farm Bureau vs. Pekin 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 auto insurance discounts as possible.

But where do you even start? With what seems like a million different discounts out there, it may be challenging to find all the ones you qualify for.

Luckily, we did the hard work for you and compared all of the different discounts offered by Indiana Farm Bureau and Pekin so that you can find the company that has the most discounts and, therefore, the largest savings.

Overall, Indiana Farm Bureau has the advantage when it comes to total number of discounts. Pekin offers a grand total of 10 discounts, while Indiana Farm Bureau has 15.

Both companies offer a lot of the same discounts -- like discounts for being a good student, multi-policy discounts, and paid in full discounts -- but Indiana Farm Bureau also offers discounts for ABS, agri-business, education, and more.

On the other hand, Pekin has a few proprietary discounts of their own for things like advance quote discounts, anti-theft discounts, defensive driver discounts, and more.

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

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

Pekin might be best for you if....

• You have less-than-stellar credit.
• Your credit score is high.
• You're married and plan to have both of your names on the vehicle's auto insurance policy.

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

• You're looking for the carrier with the most discounts.

Hopefully, this guide helps you get a good idea of the differences between Indiana Farm Bureau and Pekin. 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 a handful of carriers, not just Indiana Farm Bureau and Pekin. Luckily, Compare.com makes it easy for you to do just that. Simply enter your ZIP codes below and get free quotes from dozens of top auto insurance companies in your area, all in just a few minutes.

Indiana Farm Bureau vs. Pekin FAQs

Is Indiana Farm Bureau or Pekin cheaper?

Pekin is the more affordable of the two carriers when looking at national average prices, with policies averaging $74 a month with Pekin and $180 for Indiana Farm Bureau. That being said, that doesn't mean Pekin will be the lowest company for every policyholder, since there are several different factors that are considered when it comes to your car insurance payment.

Who is better, Indiana Farm Bureau or Pekin?

Sadly, the only answer we can give you is "it depends.". No one carrier is necessarily "better" for everyone -- it all depends on the makeup of your unique insurance profile.

Why do Indiana Farm Bureau and Pekin offer me different rates?

Auto insurance companies use a lot of different variables when calculating the premiums they charge. Factors like your driving record, gender, where you call home, age, and sometimes even things like your credit score can all be used. Both Indiana Farm Bureau and Pekin calculate rates using different variables, so it's likely they'll offer different prices. The best way to determine which company is the cheapest for you is by comparing personalized quotes from many different carriers.

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

The only way to find the insurance carrier 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 do all the hard work for you. Just enter your area information and you'll get quotes from dozens of your local top car insurance carriers for free. That way, you can guarantee you're getting the best premium. And maybe you'll find that the best company for you isn't Indiana Farm Bureau or Pekin 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.