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

Quick Facts

• Looking at the national averages for car insurance, Virginia Farm Bureau offers significantly more affordable prices than Penn National
• Penn National offers more discounts than Virginia Farm Bureau Insurance
• Virginia Farm Bureau offers more affordable premiums for policyholders who have a clean driving record, free of accidents, tickets, or DUIs

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

Are you in the market for a new insurance policy? After all, you've seen ads from all sorts of companies offering big discounts. But exactly how much can you save by switching?

You've maybe even narrowed it down to Penn National or Virginia Farm Bureau, but between the two, which one will offer you less expensive prices?

As you can see, Penn National has average rates that are about 55% per month more expensive than those from Virginia Farm Bureau when looking at the national average rates for auto insurance.

Even so, Virginia Farm Bureau may not be the most affordable or best option for each driver out there. Car insurance companies use a variety of complex algorithms to calculate premiums, so depending on where you live or how old you are (among many other factors), you could see wildly different rates from the ones above.

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

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

Penn National and Virginia Farm Bureau only compete against each other in Virginia, where Virginia Farm Bureau offers the cheaper average prices. For Virginia residents, Virginia Farm Bureau offers insurance for $101 a month on average. Penn National's average rates come out to be over 50% more expensive, at $154 monthly.

There are plenty of other factors that go into your auto insurance bill than just where you live. Keep reading to learn more.

Which is the Best Company For Young Drivers?

You might already know that teen drivers generally pay a lot more for insurance than any other group of drivers out there on the road. It's normally because young, inexperienced drivers are statistically much more likely to get into accidents since they have less experience on the roads.

However, that doesn't mean that teen drivers have to just accept sky-high auto insurance premiums. For example, 18-year-old drivers pay an average of more than $250 less a month by choosing Virginia Farm Bureau over Penn National.

That being said, with both carriers, you'll see your rates drop significantly once you turn 25. For example, average prices for Penn National policyholders lower nearly 60% and Virginia Farm Bureau's premiums decrease almost 60% over that time.

Which is the Best Company for Retired Drivers?

When it comes to car insurance, patience and experience pay off, with drivers around retirement age paying some of the cheapest rates out there.

When looking at Penn National and Virginia Farm Bureau specifically, which carrier is best for retired drivers? Virginia Farm Bureau gets the edge, with prices for drivers 65 and older $72 cheaper than the national average for Penn National.

Which is the Best Company for Married Drivers?

Single policyholders tend to get offered slightly more expensive auto insurance premiums than married drivers. That's typically because married policyholders tend to own and insure more than one car, which can often earn you a discount.

When it comes to relationship status, Virginia Farm Bureau is the clear winner for single drivers, with prices around $136 per month more affordable than Penn National, on average. For married couples, the advantage is clear again - Virginia Farm Bureau has the edge when it comes to average rates.

Penn National vs. Virginia Farm Bureau: Average Rates by Gender

Men are statistically more likely than women to get into collisions and file an insurance claim, which means they'll usually end up paying more for insurance than women.

On average, women see premiums about $5 a month less expensive with Penn National, and around $4 with Virginia Farm Bureau.

Looking at the data for each company specifically, Virginia Farm Bureau offers the lowest average prices for both men and women, with average rates $117 less for men and $116 cheaper for women.

Penn National or 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.

It's no secret that car insurance can be a complicated subject for most people. There are so many different terms and coverages that it can make it pretty confusing to find the right policy.

But most policies that many drivers look at fall into two categories -- liability only (which provides bodily injury and property damage coverage for other drivers and passengers if you cause an accident) and full coverage (which includes two additional coverages -- comprehensive and collision -- in addition to liability coverage).

If you're looking for state minimum liability insurance, Virginia Farm Bureau generally offers significantly cheaper premiums of $66 compared to Penn National's $144. When it comes to full coverage policies with similar limits, Virginia Farm Bureau again has the edge, with policies about $150 per month more affordable than Penn National, on average.

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

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

It's no secret secret that tickets and at-fault accidents lead to higher prices, but which carrier -- Penn National or Virginia Farm Bureau -- has the cheapest rates for drivers with less-than-ideal driving records?

Which Company is Best for Drivers with Speeding Tickets?

Penn National policyholders can expect their premiums to go up an average of $40 a month if they get a ticket, while Virginia Farm Bureau typically raises rates around $25 per month, on average.

Even so, Virginia Farm Bureau is normally the less expensive option for both drivers who have clean records and those with a recent speeding ticket -- their rates are around 41% cheaper for drivers with clean records and 40% more affordable for those with a ticket.

Which Company is Best for Drivers After an Accident?

After an accident, drivers who have their car insurance through Penn National can expect to see about an $67 -- or around 33% -- increase in their insurance prices. Drivers who use Virginia Farm Bureau for their auto insurance will see a monthly bill about $23 (or 22%) more expensive after reporting a collision to their car insurance company.

Overall, drivers who use Virginia Farm Bureau end up with the cheaper prices after an accident, with monthly premiums averaging $105 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 insurance bill. For example, Penn National increases average rates 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, Virginia Farm Bureau tends to be the much cheaper option with average rates of $111 per month compared to $346 from Penn National.

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

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

Insurance carriers argue that someone with good credit is more likely to pay their bills on time, which makes them less risky to insure. Because of that, policyholders with good credit will often be rewarded with less expensive premiums.

Looking specifically at Virginia Farm Bureau and Penn National, which company has the best prices for drivers at different credit levels?

Which Company is Best for Drivers with Good Credit?

If you have a great credit score, you'll usually find a better deal with Virginia Farm Bureau. Policyholders with "excellent" credit can save nearly 60% compared to Penn National, and those with "good" scores can also expect to see savings -- around $94 or 52% more affordable each month.

Which Company is Best for Drivers with Bad Credit?

Virginia Farm Bureau typically offers lower rates than Penn National when it comes to drivers with less-than-stellar credit. Drivers with "fair" credit pay about $99 per month less with Virginia Farm Bureau compared to Penn National, and those with "poor" scores usually save an average of around $178 a month.

Is Penn National 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 your monthly premiums. Typically, those who drive less will end up with cheaper rates since there's less of a chance of getting into an accident and causing an insurance claim.

As you can see in the table above, annual mileage doesn't have much of an impact on how much Penn National charges. However, there's a small difference in monthly prices for Virginia Farm Bureau, with drivers who put 6,000 miles on their vehicle yearly paying about $4 less every month compared to those who drive 12,000 miles annually. Still, Virginia Farm Bureau is the less expensive option for drivers in both categories.

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

Where you live can play a pretty big role in how much you pay for car insurance. Usually, drivers who live in heavily-populated urban areas will pay quite a bit more than rural policyholders because there are a lot more cars on the roads in those areas.

Virginia Farm Bureau boasts the lowest average prices for drivers in all types of areas, no matter if they're urban, suburban, or rural.

Drivers in rural ZIP codes see the cheapest premiums from both companies, but Virginia Farm Bureau comes out on top with average rates around $78 per month. Virginia Farm Bureau also has cheaper average premiums for policyholders in urban and suburban ZIP codes -- a 60% and 45% a month respective difference when compared to Penn National drivers in similar areas.

Penn National vs. Virginia 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. That's where insurance discounts comes into play.

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

Below, we've compared all of the different discounts offered by Penn National and Virginia Farm Bureau so that you can see which carrier can save you the most money each month.

Penn National blows Virginia Farm Bureau away when it comes to the sheer amount of discounts available, offering eight more discounts than Virginia Farm Bureau.

Both carriers offer several of the same discounts -- like ABS discounts, discounts for being a defensive driver, and discounts for getting driver training -- but Penn National also offers added pip option discounts, advance quote discounts, anti-theft discounts, and more that Virginia Farm Bureau does not.

On the flip side, Virginia Farm Bureau has a couple unique discounts of its own -- new business discounts and umbrella policy discounts.

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

You've seen the effect certain factors have on your car insurance and the different discounts companies offer. That's all well and good, but when it comes down to it, is Penn National or Virginia Farm Bureau the best one for you, your vehicle, and your wallet?

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

• You haven't received any speeding tickets or been in a collision in the last few years.
• You've started working from home and don't have much of a commute.

Penn National might be best for you if...

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

We hope this guide helps you get a good idea of the differences between Penn National and Virginia Farm Bureau. We also hope we've given you the information you need to make the best decision about your auto insurance.

At the end of the day, the sure-fire way to make sure you're getting the best deal on your insurance policy is to compare quotes from multiple carriers, not just Penn National and Virginia Farm Bureau. Luckily, Compare.com does all the hard work for you. Just enter your ZIP code below and get multiple quotes from some of the best car insurance companies in your area, all for free.

Penn National vs. Virginia Farm Bureau FAQs

Is Penn National or Virginia Farm Bureau cheaper?

Looking just at the national average prices, Virginia Farm Bureau is the less expensive of the two carriers, offering average rates of $101 per month compared to $218 for Penn National. That being said, Virginia Farm Bureau won't necessarily be the most affordable company for everyone, since there are several different variables (things like gender, age, driving record, etc.) that play a role in how much you pay.

Who is better, Penn National or Virginia Farm Bureau?

Unfortunately, the real answer is "it depends.". Neither carrier is "better" for everyone -- it all depends on what your unique auto insurance profile looks like.

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

Car insurance companies take a look at quite a few different factors when determining the rates they charge policyholders. Variables such as where you call home, gender, where you park your vehicle, age, and sometimes even things like your credit score can all be taken into consideration. Both Penn National and Virginia Farm Bureau calculate premiums using 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 variety of different carriers.

How do I know if Penn National or Virginia Farm Bureau 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, sites like Compare.com make it easy for you to do just that. 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 premium. And who knows, the best company for you might not be Penn National or Virginia 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.