State Farm Insurance is the biggest car insurance company in the United States. As of 2020, State Farm held 16.19% of the total market share and has written over 80 million insurance policies. State Farm sells a variety of different insurance products, from health insurance to pet insurance. The company employs more than 19,000 agents and sells coverage in all 50 states.
Farm Bureau Insurance is a smaller insurance company that was founded in 1939 as a way to protect the unique liability insurance needs of farmers and agricultural workers. Today, the company sells car insurance in select Western and Midwestern states. In addition to insurance, Farm Bureau also sells a handful of financial, investment and retirement products.
State Farm vs Farm Bureau: car insurance rates comparison
Farm Bureau and State Farm differ in terms of their third-party ratings and average rates. In the table below, we included a side-by-side comparison of average car insurance premiums, overall customer satisfaction ratings and financial strength scores from State Farm vs. Farm Bureau:
|Car insurance company||AM Best||J.D. Power||Average annual premium for minimum coverage||Average annual premium for full coverage|
Rates by credit score
In most states, your credit score is factored into your car insurance rate. The only states that do not allow this are Hawaii, California, Washington and Massachusetts. Although the average annual rates from Farm Bureau vs. State Farm based on credit score may help for the purposes of comparison, keep in mind your exact quotes from these providers will differ:
|Car insurance company||Poor||Average||Good||Excellent|
Rates by age
Generally speaking, the older you are, the cheaper your car insurance premium will be. Young drivers between the ages of 16-18 pay the highest rates because drivers in this age group are the most likely to cause accidents. The average annual rates for State Farm and Farm Bureau both reflect the decrease in rates over time, as shown below:
|Car insurance company||Age 16*||Age 18||Age 25||Age 30||Age 40||Age 60|
*16 year old cost when added to parents’ policy, 18-year-old renter
Rates by driving record
If you have a clean driving record with no violations, you will typically see a low car insurance rate. On the other hand, drivers with one speeding ticket, one accident or one DUI conviction pay higher rates. Based on driving record incidents, a DUI conviction has the highest impact on average annual rates, although Farm Bureau’s increase is more notable:
|Car insurance company||Clean driving record||Speeding ticket||Accident||DUI conviction|
State Farm vs Farm Bureau: discounts
Taking advantage of car insurance discounts can help you save money on your premium for most drivers. State Farm and Farm Bureau both offer savings opportunities for drivers, but the specific discounts available and savings for these providers in Maine may vary. Here are some of most notable discounts from both companies:
- Vehicle safety discounts — With State Farm, you can save money on your policy if your vehicle has qualifying safety features, like air bags, newer seat belts or an anti-theft system.
- Good student discount — Students under 25 years old who maintain a 3.0 GPA, have a ‘B’ average, are in the top 20% of their class or have qualifying test scores can get a discount on their premium.
- Steer Clear program — State Farm’s Steer Clear program rewards drivers under 25 with a lower car insurance rate if they are claims-free for three years, complete a safe driver training program and demonstrate safe on-road skills.
- Low mileage discount — Farm Bureau will give you a lower premium if you drive less than 7,500 miles per year.
- Customer loyalty discount — Loyal Farm Bureau customers can get a lower rate depending on the amount of time they have been insured.
- Safe young driver discount — Drivers under age 25 who complete Farm Bureau’s Young Driver Safety program can earn a discount on their car insurance premium.
State Farm vs Farm Bureau: online and mobile experience comparison
State Farm and Farm Bureau both have good websites with helpful policy information. However, we found that State Farm’s online user experience is better overall. State Farm has great online tools and resources, including online quotes, which Farm Bureau does not offer. Additionally, State Farm has an online claim system, whereas with Farm Bureau, a phone call is required to submit a claim.
We also compared State Farm and Farm Bureau’s mobile apps. Overall, these mobile apps are pretty similar in terms of features. One thing to note is that Farm Bureau has a general Financial Services app, as well as state-specific mobile apps. For example, Kentucky Farm Bureau and Indiana Farm Bureau have two separate mobile apps. That said, State Farm’s apps have higher scores overall from policyholders.
Here is a more in-depth comparison of the State Farm vs. Farm Bureau mobile apps:
- App Store (4.8 stars) — With State Farm’s iPhone app, you can file auto insurance claims, get roadside assistance, pay your premium, download your ID cards and contact your agent. You can also use Apple’s signature features, like Siri and Apple Pay, within the State Farm mobile app.
- Google Play (4.5 stars) — State Farm’s Android app has all the same features as the iPhone application, but the reviews for this app are not as good. Android user reviews speak to issues making payments through the app, as well as problems logging in and resetting their passwords.
- App Store (3.2 stars) — Through Farm Bureau’s Financial Services app for iPhone, you can access your ID cards, make payments, file a new claim, check on the status of active claims and view basic policy information. You can also call or send a message directly to your agent.
- Google Play (3.1 stars) — The Farm Bureau Financial Services app for Android has all of the same features that the iPhone app has. Overall, most users have positive things to say about this app, but some Android users have noted problems or difficulties logging in and dealing with bugs within the app interface.
Frequently asked questions
What is the average cost of car insurance?
In the United States, the average cost of car insurance is $1,674 per year for a full coverage policy. However, you might pay more or less than the national average based on factors like your state, age, driving record, claims history and the amount of coverage you need.
Which car insurance company is the best?
The best car insurance company is unique to each driver, because providers vary in many aspects. Before you choose a car insurance carrier, spend some time shopping around and get multiple quotes to find the lowest rate.
Can I switch car insurance carriers?
Yes, you can switch car insurance carriers at any time. Most insurance companies do not charge a cancellation fee. Switching car insurance companies can be a good way to get a lower rate or take advantage of discounts you did not previously qualify for.
Bankrate utilizes Quadrant Information Services to analyze 2021 rates for all ZIP codes and carriers in all 50 states and Washington, D.C. Quoted rates are based on a 40-year-old male and female driver with a clean driving record, good credit and the following full coverage limits:
- $100,000 bodily injury liability per person
- $300,000 bodily injury liability per accident
- $50,000 property damage liability per accident
- $100,000 uninsured motorist bodily injury per person
- $300,000 uninsured motorist bodily injury per accident
- $500 collision deductible
- $500 comprehensive deductible
To determine minimum coverage limits, Bankrate used minimum coverages that meet each state’s requirements. Our base profile drivers own a 2019 Toyota Camry, commute five days a week and drive 12,000 miles annually.
These are sample rates and should only be used for comparative purposes.
Credit: Rates were calculated based on the following insurance credit tiers assigned to our drivers: “poor, average, good (base), and excellent.” Insurance credit tiers factor in your official credit scores but are not dependent on that variable alone. The following states do not allow credit to be a factor in determining auto insurance rates: CA, HI, MA
Age: Rates were calculated by evaluating our base profile with the ages 18-60 (base: 40 years) applied. 16-year-old rates were factored as the added cost to their parents’ policy; 18-year-old rates were calculated as drivers who rent their primary residence.
Incident: Rates were calculated by evaluating our base profile with the following incidents applied: clean record (base), at-fault accident, single speeding ticket, single DUI conviction (BAC of >= .08) and lapse in coverage.