Mercury vs. Oklahoma Farm Bureau: Which Company is the Best Fit for You?

Quick Facts

• Based on national averages for car insurance, Oklahoma Farm Bureau offers significantly less expensive rates than Mercury
• Mercury may help you save more money -- they offer more discounts than Oklahoma Farm Bureau Insurance
• Oklahoma Farm Bureau tends to be a much cheaper option for policyholders who live in the suburbs

Mercury or Oklahoma Farm Bureau: Which Company has the Cheapest Car Insurance?

So, you're considering switching to a new insurance policy. With so many ads from all sorts of companies offering big savings, you're probably wondering exactly how much you might be able to save.

You might be considering Mercury or Oklahoma Farm Bureau as your top options, but between the two, which company has more affordable prices for insurance?

Looking at the national average rates for both carriers, Mercury is quite a bit more expensive than Oklahoma Farm Bureau, with rates averaging $295 a month compared to just $174 with Oklahoma Farm Bureau.

That being said, that doesn't necessarily mean Oklahoma Farm Bureau will be the less expensive option for every single driver. After all, car insurance companies can offer drastically different rates to every driver depending on rating factors like your age, your credit score, your driving record, or even where you call home (among other things). So, at the end of the day, premiums from each company will differ quite a bit from person to person.

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

Mercury vs. Oklahoma Farm Bureau: Average Car Insurance Rates by State

Mercury and Oklahoma Farm Bureau only compete against each other in Oklahoma, where Oklahoma Farm Bureau offers the cheaper average rates. Oklahoma Farm Bureau drivers tend to pay about $30 per month less on average compared to drivers who use Mercury for their auto insurance.

There are plenty of other factors that go into your insurance cost than just where you live. Read on to learn more.

Which is the Best Company For Young Drivers?

Young drivers -- especially teens -- normally pay a lot for car insurance compared to older drivers. That's generally because teen drivers are statistically much more likely to cause collisions and other accidents that will result in an insurance claim.

But that doesn't mean that teen drivers have to just accept sky-high auto insurance premiums. As you can see above, teens who use Oklahoma Farm Bureau save over 50% a month compared to those who use Mercury. It's worth noting that Mercury offers car insurance in 11 different states compared to Oklahoma Farm Bureau's one, which can skew the average prices a bit, but the difference here is still considerable.

Even so, both carriers will lower premiums by the time drivers turn 25. Oklahoma Farm Bureau offers the steepest reduction, with 25-year-olds paying less than half what 18-year-old drivers are charged. Mercury's average rates decrease almost 70% during that same period.

Which is the Best Company for Retired Drivers?

Once you approach retirement age, you'll usually enjoy the most affordable insurance prices you'll ever see. You've been on the road for years, and all that experience pays off when it comes to your monthly premiums for auto insurance.

But who has the best rates for retired drivers between Mercury and Oklahoma Farm Bureau? Oklahoma Farm Bureau gets the edge, with prices for drivers 65 and older more than 45% more affordable than the national average for Mercury.

Which is the Best Company for Married Drivers?

You may not be aware, but car insurance rates tend to be more expensive for single policyholders than they are for married policyholders. That's because policies for married drivers typically cover multiple vehicles, which many companies will give you a discount for.

For single drivers, the difference in average premiums between these two carriers is significant, with Oklahoma Farm Bureau prices coming in at around half of Mercury's. For married couples, the advantage is clear again - Oklahoma Farm Bureau has the edge when it comes to average rates.

Mercury or Oklahoma Farm Bureau: Average Rates by Gender

Women generally to pay less for insurance than men. That's because women are less likely to get speeding tickets and get into collisions, which decreases the chances of filing a claim with insurance.

With Mercury, men usually pay about $15 per month more than women, and around $25 with Oklahoma Farm Bureau.

Looking at overall affordability, Oklahoma Farm Bureau comes out on top for both men and women. On average, male drivers save about $114 a month and women save about $127 with Oklahoma Farm Bureau compared to the average Mercury policyholder.

Mercury vs. Oklahoma 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 many different coverages that account for a variety 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.

However, most policies that drivers look at fall into two categories -- liability coverage (which provides property damage and bodily injury coverage for other drivers and their passengers if you cause an accident) and full coverage (which includes collision and comprehensive coverages that protect your own car, alongside liability coverage).

Looking specifically at state minimum limits for liability insurance, Oklahoma Farm Bureau has the significant edge, with average monthly premiums coming in at $93. If you want a full coverage policy with the same state minimum limits, Oklahoma Farm Bureau again has the edge, with policies averaging around $256 per month to Mercury's $406.

Is Mercury or Oklahoma 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.

Speeding tickets and at-fault collisions will most likely raise your rates, but is Mercury or Oklahoma Farm Bureau cheaper for drivers with less-than-perfect records?

Which Company is Best for Drivers with Speeding Tickets?

Policyholders who use Mercury for their car insurance can normally expect their monthly bill to go up about 19% after getting a speeding ticket. Oklahoma Farm Bureau policyholders can expect a less drastic increase of around 10%.

That being said, Oklahoma Farm Bureau has less expensive prices for drivers in both categories -- their rates are around 40% more affordable for drivers with clean records and 46% cheaper for those with a ticket.

Which Company is Best for Drivers After an Accident?

Mercury drivers who get in a collision can expect to see their premiums climb by over 30%, while those who have insurance through Oklahoma Farm Bureau will see about a 10% increase.

At the end of the day, the less expensive rates come from Oklahoma Farm Bureau, with average prices coming in at $158 compared to Mercury Insurance's $346.

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 ticket or even an accident. On average, Oklahoma Farm Bureau will climb your premiums around 41% after a DUI, while Mercury's average prices increase by more than 20%.

Oklahoma Farm Bureau has the overall lowest rates for drivers with a DUI on their records at $240 monthly, but it's worth noting that Mercury's average rates come from 11 states compared to just one for Oklahoma Farm Bureau, so the data may be skewed slightly.

How does Credit Score Impact Mercury and Oklahoma Farm Bureau Rates?

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

Insurance carriers argue that those with poor credit scores are less likely to pay their bills on time every month, which raises the risk involved on their end, while the opposite is true for those with good credit.

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

Which Company is Best for Drivers with Good Credit?

If you have a great credit score, Oklahoma Farm Bureau will typically reward you the most. For policyholders with "excellent" credit scores, Oklahoma Farm Bureau comes in over 21.97 cheaper. Drivers with "good" credit scores usually save about 35% with Oklahoma Farm Bureau compared to average premiums from Mercury.

Which Company is Best for Drivers with Bad Credit?

Oklahoma Farm Bureau typically offers lower rates than Mercury when it comes to drivers with less-than-stellar credit. Drivers with "fair" credit pay around 42% a month less with Oklahoma Farm Bureau compared to Mercury, and those with "poor" scores normally save an average of about 57% a month.

Is Mercury or Oklahoma 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 big impact on your monthly prices? That's because the more milage you put on your vehicle, the more likely you are to be in a collision and file an insurance claim.

In this case, neither Mercury or Oklahoma Farm Bureau report increasing rates for drivers with higher annual mileage figures. Still, Oklahoma Farm Bureau comes out as the cheapest for drivers at both intervals, whether they put 6,000 or 12,000 miles on their car yearly, with average premiums of $174 per month for both.

Mercury or Oklahoma Farm Bureau: Compare Rates for Urban, Suburban, and Rural Drivers

Where you call home can have a substantial impact on your monthly auto insurance bill. Generally, drivers who live in less densely populated rural areas will pay quite a bit less than urban policyholders because of the small number of vehicles that are on the roads where they live.

Oklahoma Farm Bureau tends to offer the lowest premiums for drivers in all areas, regardless of if they're urban, suburban, or rural.

Those in rural areas can expect to save around 27% with Oklahoma Farm Bureau compared to Mercury. People who live in suburban areas pay about 31% less with Oklahoma Farm Bureau compared to Mercury. For drivers in urban ZIP codes, Oklahoma Farm Bureau Insurance's average prices are around 55% less than Mercury Insurance.

Mercury vs. Oklahoma 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 where do you even start? With so many discounts out there, it may seem challenging to find all the of the ones you can take advantage of.

Luckily, we did the hard work for you and looked at all of the different discounts Mercury and Oklahoma Farm Bureau offer their customers so that you can see which one offers the most discounts and see which ones you might be able to take advantage of.

Mercury knocks Oklahoma Farm Bureau out of the park when it comes to the sheer number of discounts available, offering 27 different discounts to Oklahoma Farm Bureau's five.

A couple of those are overlapping for things like discounts for being a defensive driver, group discounts, and multi-policy discounts. Mercury also offers discounts for ABS, advance quote, anti-theft, and more.

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

Final Thoughts: Is Mercury or Oklahoma Farm Bureau Best for You?

So, we've broken down the average premiums for many of the variables car insurance companies look at, and walked through the different discounts each company offers, too. But, at the end of the day, which insurance carrier is the best carrier for you, your vehicle, and your wallet?

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

• You live in one of the following states: Oklahoma.
• Your credit score is high.
• You're of retirement age and want to take advantage of lower rates.

Mercury might be best for you if...

• You are considering moving to another state -- Oklahoma Farm Bureau Insurance only offers policies to Oklahoma residents.
• You want to save extra money with discounts.

Hopefully, this guide has ben a valuable resource as you compare Mercury and Oklahoma Farm Bureau. We also hope we've given you the information you need to make the best decision when it comes to your auto 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 insurance -- comparing quotes from a handful of carriers, not just Mercury and Oklahoma Farm Bureau. Luckily, Compare.com makes it easy for you to do just that. Simply enter your ZIP codes below and get multiple quotes from some of the best car insurance companies in your area, all for free.

Mercury vs. Oklahoma Farm Bureau FAQs

Is Mercury or Oklahoma Farm Bureau cheaper?

Oklahoma Farm Bureau is the more affordable of the two carriers when looking at national average prices, with policies averaging $174 a month with Oklahoma Farm Bureau and $295 for Mercury. But that doesn't mean Oklahoma Farm Bureau will be the cheapest company for each policyholder, since there are lots of different factors (things like driving record, age, gender, etc.) that play a role in how much you pay.

Who is better, Mercury or Oklahoma Farm Bureau?

Unfortunately, the real answer is "it depends.". No single carrier is necessarily "better" for everyone -- it all depends on what your unique auto insurance profile looks like.

Why do Mercury and Oklahoma Farm Bureau offer me different rates?

Insurance companies use lots of different variables when calculating the premiums they charge. Factors like gender, your driving record, age, where your home is, and sometimes even things like your credit score can all be used. Both Mercury and Oklahoma Farm Bureau calculate rates using different formulas, so it's likely they'll offer different prices. The best way to determine which company is the most affordable for you is by comparing personalized quotes from multiple different carriers.

How do I know if Mercury or Oklahoma 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 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 price. And maybe you'll find that the best company for you isn't Mercury or Oklahoma 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.