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State Farm vs Farm Bureau

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State Farm Insurance is the biggest car insurance company in the United States. As of 2021, State Farm held 8.9% of the total market share and had written over $70 million in direct premiums. 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. The financial strength ratings from AM Best vary significantly between the two companies, and only one is rated by J.D. Power for customer satisfaction. Bankrate used the third-party ratings from AM Best and J.D. Power, along with other factors, like the company’s policy options, online accessibility, and the average rate data from Quadrant Information Services, to issue each company a Bankrate Score, with a maximum score of 5 out of 5.

We included a side-by-side comparison of State Farm vs. Farm Bureau using these factors in the table below:

Car insurance company AM Best J.D. Power auto claims satisfaction Average annual premium for minimum coverage Average annual premium for full coverage
State Farm A++ 892/1,000 $456 $1,397
Farm Bureau A+ N/A Not available Not available

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 and Massachusetts. Washington state recently banned the use of credit scores as an insurance rating factor but the decision is currently on hold. In states where credit scores are allowed, the data shows that higher credit scores typically result in cheaper average premiums.

While the 2022 Farm Bureau rate data is not available, State Farm’s average car insurance rates and the national average rates by credit score may be a useful comparison tool when shopping for car insurance:

Car insurance company Poor Average Good Excellent
National average $3,002 $1,907 $1,771 $1,556
State Farm $3,584 $1,614 $1,457 $1,107

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 2021 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
State Farm $2,077 $4,137 $1,694 $1,494 $1,457 $1,327
Farm Bureau $1,568 $3,873 $2,056 $1,766 $1,512 $1,444

*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. Rates by driving record are unavailable for Farm Bureau. However, when comparing national average rates to State Farm, the data shows that a DUI conviction has the highest impact on average annual rates:

Car insurance company Clean driving record Speeding ticket Accident DUI conviction
National average $1,771 $2,138 $2,521 $3,421
State Farm $1,457 $1,590 $1,657 $2,201

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:

State Farm

  • 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.

Farm Bureau

  • 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:

State Farm

  • 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 (4.7 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.

Farm Bureau

  • App Store (3.0 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 (3.4 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

Methodology

Bankrate utilizes Quadrant Information Services to analyze 2021 and 2022 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 and 2020 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.

Bankrate Score

Bankrate Scores primarily reflect a weighted rank of industry-standard ratings for financial strength and customer experience in addition to analysis of quoted annual premiums from Quadrant Information Services, spanning all 50 states and Washington, D.C. We know it is important for drivers to be confident their financial protection covers the likeliest risks, is priced competitively and is provided by a financially-sound company with a history of positive customer support.

To determine how well the best car insurance companies satisfy these priorities, third-party agency ratings from J.D. Power, AM Best, S&P, NAIC, and Moody’s had the most impact on the companies’ Bankrate Scores. As price is a common consideration for drivers, we analyzed quoted premiums based on 40-year-old male and female drivers with a 2019 Toyota Camry. This profile, assessed across nearly 35,000 ZIP codes in the U.S., provided a basis on which drivers may compare each provider.

While coverage options, insurer availability, affordability and customer experience are often the top priorities, Bankrate also analyzed each insurer’s online and mobile resources for policy management and claims handling. Insurance is rapidly evolving to keep pace with our digital world, so these aspects also carried weight in determining Bankrate Scores.

Written by
Elizabeth Rivelli
Insurance Contributor
Elizabeth Rivelli is a contributing insurance writer for Bankrate and has years of experience writing for insurance domains such as The Simple Dollar, Coverage.com and NextAdvisor, among others
Edited by
Insurance Editor