North Carolina Farm Bureau vs. Penn National: Which Company is the Best Fit for You?

Quick Facts

• Looking at the national averages for insurance, North Carolina Farm Bureau offers significantly less expensive prices than Penn National
• North Carolina Farm Bureau offers more affordable average rates for residents of urban areas
• Penn National offers more discounts than North Carolina Farm Bureau

North Carolina Farm Bureau vs. Penn National: Which Company has the Cheapest Car Insurance?

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

You've maybe even narrowed your search down to North Carolina Farm Bureau or Penn National, but between the two, which carrier will save you the most?

Looking at nationwide averages, Penn National has average rates that are about 40% per month more expensive than those from North Carolina Farm Bureau.

But North Carolina Farm Bureau may not be the cheapest or best option for every driver out there. Auto insurance companies vary their premiums depending on things like how clean your driving record is, how good your credit score is, how old you are, where you live, and a ton of other factors, so rates could change drastically from person to person.

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

North Carolina Farm Bureau or Penn National: Average Car Insurance Rates by State

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That being said, there are plenty of other factors that go into your insurance bill than just where you call home. Continue reading to learn more about how other factors will affect your rates.

Which is the Best Company For Young Drivers?

You might already know that teen drivers usually pay a lot more for car insurance than any group on the road. That's because young, inexperienced drivers are statistically much more likely to get into an accident that results in a car 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. For example, 18-year-old drivers pay an average of nearly $300 less a month by choosing North Carolina Farm Bureau over Penn National.

Even so, both carriers will reduce prices by the time you turn 25. For example, average premiums for North Carolina Farm Bureau policyholders drop almost 35% and Penn National's rates decrease nearly 60% over that time.

Which is the Best Company for Retired Drivers?

Drivers around retirement age typically enjoy some of the most affordable auto insurance premiums out there. After all, they've likely been driving for quite some time, which generally decreases their chances of accidents and other infractions that can increase rates.

When looking at North Carolina Farm Bureau and Penn National specifically, which carrier is best for retired drivers? North Carolina Farm Bureau gets the edge, with prices for drivers 65 and older $43 cheaper than the national average for Penn National.

Which is the Best Company for Married Drivers?

Did you know that insurance premiums are normally more affordable for married couples than they are for single policyholders? That's typically because married drivers tend to own and insure multiple cars, which can often earn you a discount.

When it comes to relationship status, North Carolina Farm Bureau is the clear winner for those who are single, with rates around $114 per month cheaper than Penn National, on average. The advantage is also clear for married policyholders - North Carolina Farm Bureau offers the lowest average prices.

North Carolina Farm Bureau vs. Penn National: Average Rates by Gender

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

With North Carolina Farm Bureau, both genders end up paying the same monthly premium, and about $5 cheaper with Penn National when compared to their male counterparts.

Looking at the data for each company specifically, North Carolina Farm Bureau offers the cheapest average prices for both men and women. On average, male drivers save about $90 a month and women save around $85 with North Carolina Farm Bureau compared to the average Penn National policyholder.

North Carolina Farm Bureau or Penn National: 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.

Insurance can be a complicated subject for most people. Everyone needs car insurance, but there are so many different coverages and terms that it can be hard to find the right policy.

That being said, the most common policies that many drivers look at fall into two categories -- liability only (that covers bodily injury and property damage for other drivers if you cause an accident) and full coverage (which includes comprehensive and collision coverages that protect your own vehicle, in addition to what you get with liability).

If you're looking for state minimum liability insurance, North Carolina Farm Bureau normally offers significantly less expensive rates of $78 compared to Penn National's $144. When it comes to full coverage policies with similar limits, North Carolina Farm Bureau again has the edge, with policies about $100 per month more affordable than Penn National, on average.

Is North Carolina Farm Bureau or Penn National Better for Drivers with Spotty Records?

You've probably seen plenty of commercials from auto insurance companies offering great premiums 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 most affordable rates to drivers with less-than-ideal driving records?

Which Company is Best for Drivers with Speeding Tickets?

North Carolina Farm Bureau policyholders can expect their prices to go up an average of $29 a month if they get a ticket, while Penn National generally raises premiums around $40 per month, on average.

However, North Carolina Farm Bureau tends to offer the best prices for drivers both with a speeding ticket and with a clean record, offering rates that are 49% and 44% cheaper, respectively, compared to Penn National Insurance.

Which Company is Best for Drivers After an Accident?

After an accident, drivers who have their car insurance through North Carolina Farm Bureau can expect to see about an $29 -- or around 29% -- increase in their insurance prices. Drivers who use Penn National for their car insurance will see a monthly bill about $67 (or 33%) more expensive after reporting a collision to their insurance carrier.

Overall, drivers who use North Carolina Farm Bureau end up with the cheaper prices after an accident, with monthly rates averaging $100 compared to Penn National Insurance's $206.

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. For example, Penn National increases average premiums by over $200 a month -- that's just under a 60% increase.

If you have a DUI on your record and are looking for more affordable prices, North Carolina Farm Bureau tends to be the much less expensive option with average premiums of $250 monthly compared to $346 from Penn National.

How does Credit Score Impact North Carolina Farm Bureau and Penn National Rates?

Did you know that many insurance companies take your credit score into account when calculating prices? This isn't always the case (for example, Massachusetts and California are two states that ban the practice entirely), but it does affect many drivers out there.

Auto insurance carriers argue that someone with bad credit is less likely to pay their bills on time, which makes them riskier to insure. Because of that, policyholders with bad credit will often be forced to pay more.

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

Which Company is Best for Drivers with Good Credit?

Which Company is Best for Drivers with Bad Credit?

Is North Carolina Farm Bureau or Penn National 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 your monthly premiums. Usually, those who drive fewer miles will end up with more affordable rates since there's less of a chance of getting into an accident and causing an insurance claim.

In this case, neither North Carolina Farm Bureau or Penn National report increasing prices for drivers with higher annual mileage figures. Even so, North Carolina Farm Bureau comes out as the lowest for drivers at both intervals, whether they put 6,000 or 12,000 miles on their car each year, with average rates of $130 per month for both.

North Carolina Farm Bureau vs. Penn National: Compare Rates for Urban, Suburban, and Rural Drivers

Where your home is can play a considerable role in how much you pay for car insurance. Normally, policyholders who live in heavily-populated urban areas will pay quite a bit more than rural drivers because there are a lot more vehicles on the road in those areas, which increases the chances of an accident.

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

In urban areas, North Carolina Farm Bureau's average prices are around $155 less than Penn National Insurance. Drivers in suburban ZIP codes pay about $69 less with North Carolina Farm Bureau compared to Penn National. If you live in a rural area, you can expect to save around $39 with North Carolina Farm Bureau compared to Penn National.

North Carolina Farm Bureau vs. Penn National 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.

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

In the table below, we've taken a look at all of the different discounts North Carolina Farm Bureau and Penn National offer their customers so that you can find the company that has the most discounts and, therefore, the biggest savings.

Penn National blows North Carolina Farm Bureau away when it comes to the sheer amount of discounts available, offering 16 different discounts to North Carolina Farm Bureau's three.

Both companies offer quite a few of the same discounts -- like paid in full discounts and passive restraint discounts -- but Penn National also offers ABS discounts, added pip option discounts, advance quote discounts, and more that North Carolina Farm Bureau does not.

On the flip side, North Carolina Farm Bureau has a unique discount of its own -- a protection plus discounts.

Final Thoughts: Is North Carolina Farm Bureau or Penn National Best for You?

So, you've seen how different variables can affect your insurance premiums. We've broken down the different discounts each carrier offers, too. That's all well and good, but at the end of the day, is North Carolina Farm Bureau or Penn National the right one for you and your specific driver profile?

North Carolina Farm Bureau might be best for you if....

• You're single and purchasing auto insurance by yourself.
• Your neighborhood is in the suburbs.
• You're buying car insurance for a teen and looking for a wallet-friendly option.

Penn National might be best for you if...

• You care about discounts (Penn National offers the most).

We hope this guide helps you get a good idea of the differences between North Carolina Farm Bureau and Penn National and that it aids in making a more informed decision about your 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 multiple carriers, not just North Carolina Farm Bureau and Penn National. Luckily, sites like Compare.com make it easy for you to do just that. Simply enter your ZIP codes below and get multiple quotes from some of the best insurance companies in your area, all for free.

North Carolina Farm Bureau vs. Penn National FAQs

Is North Carolina Farm Bureau or Penn National cheaper?

Looking just at the national average rates, North Carolina Farm Bureau is the less expensive of the two carriers, offering average rates of $130 a month compared to $218 for Penn National. But North Carolina Farm Bureau won't necessarily be the lowest company for every driver, since there are several different factors that come into play when it comes to your car insurance cost.

Who is better, North Carolina Farm Bureau or Penn National?

Unfortunately, the answer truly is "it depends.". One carrier is not necessarily "better" for each driver -- it all depends on what your unique auto insurance profile looks like.

Why do North Carolina Farm Bureau and Penn National offer me different rates?

Car insurance companies take a look at lots of different variables when determining the premiums they charge policyholders. Things such as age, gender, your driving record, where you park your car, and sometimes even things like your credit score can all come into play. Both North Carolina Farm Bureau and Penn National use different formulas, so each one will most likely offer different rates. The only real way to see which company is the cheapest for you is by comparing personalized quotes from a bunch of different carriers.

How do I know if North Carolina Farm Bureau or Penn National is right for me?

The only way to find the insurance carrier that's right for you is by getting quotes from a handful of companies and finding the one best suited for your individual budget. Luckily, Compare.com does all the hard work for you. Just enter your ZIP code and you'll get free quotes from dozens of the best auto insurance carriers in your area. That way, you can guarantee you're getting the most affordable rate. And who knows, the best company for you might not be North Carolina Farm Bureau or Penn National 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.