Texas Farm Bureau insurance review 2023

Texas Farm Bureau car insurance

Texas Farm Bureau has offered insurance products to Texans since 1952. Now headquartered in Waco, Texas, the carrier has grown to include over 850 local agents, 300 claims personnel and 300 offices across the Lonestar State. Since Texas Farm Bureau does the bulk of its business via local agencies, this carrier could be optimal for those who prefer the personalized service that an in-person insurance experience may provide.

The company is part of the American Farm Bureau Federation and requires an annual membership fee, although the rate varies depending on which country you reside. Membership is open to all Texas residents and includes several benefits, including discounts on products and services as well as access to insurance policies. Many states across the country have their own Farm Bureau agencies, but Texas Farm Bureau insurance is only available in Texas.

Texas Farm Bureau offers a full line of auto insurance coverage, from the minimum liability coverage needed to drive legally in Texas to a full coverage policy with add-ons, including rental reimbursement, roadside assistance, and ridesharing coverage. Although Texas Farm Bureau’s auto endorsement options may not be as robust as some carriers, it also offers death indemnity coverage, which is not always available with other providers. This optional coverage pays a death benefit to a beneficiary or beneficiaries should you die as a result of a qualifying accident in your vehicle.

Pros and cons of Texas Farm Bureau car insurance

Finding the best car insurance company may not always be easy, but Bankrate’s insurance editorial team is here to help. Creating a list of pros and cons may help you determine if a specific provider can meet your individualized needs.

Texas Farm Bureau car insurance cost

Bankrate has access to proprietary premium data from Quadrant Information Services, and according to our research, the national average cost of car insurance is $2,014 per year for a full coverage policy and $622 for a minimum coverage policy. However, your rates may be more or less than the average, as auto insurance is highly personalized. Car insurance companies may use a variety of rating factors to determine how much to charge for coverage, including your location, vehicle, age and in some states (including Texas), your credit score.

Premium data for Texas Farm Bureau car insurance is unavailable, so the best way to compare rates may be to request a quote online, in person or over the phone.

Texas Farm Bureau car insurance discounts

Discount information is limited on Texas Farm Bureau’s website, but it does list a few opportunities that may help you save on your car insurance, including:

For more information regarding discount eligibility and savings amounts, please contact a Texas Farm Bureau agent.

Texas Farm Bureau car tools and benefits

Many of Texas Farm Bureau’s benefits are granted through general Farm Bureau membership. Once you are a member of the Farm Bureau, you will not only have access to insurance products but also to Farm Bureau Bank services, where you may qualify for an auto loan. Some of the other car-related membership perks include a defensive driving course and potential discounts on car seats, oil changes and even a $500 cash reward if you buy or lease an eligible Ford vehicle.

Texas Farm Bureau home insurance

According to our analysis, Texas Farm Bureau could be best for Texans looking for the cheapest homeowners insurance company who prefer to do business in person with an agent.

Homeowners insurance with Texas Farm Bureau comes with many of the standard coverage types you’d expect, such as dwelling, liability and personal property. To find out if the company offers any additional endorsement options, you will need to reach out to Farm Bureau directly — the company’s website does not list any coverage options outside of those that come standard with a typical homeowners policy.

Pros and cons of Texas Farm Bureau homeowners insurance

When comparing home insurance quotes, a pros and cons list may help you narrow down your options. To do this, you may find it helpful to write down what you like about a company’s offerings and where they might fall short.

Texas Farm Bureau home insurance cost

Bankrate took a deep dive into the cost of homeowners insurance in 2022 and based on our research, the national average rate for $250,000 in dwelling coverage is $1,428 per year. On the other hand, Texas Farm Bureau comes in much lower at $730 per year. Since Texas Farm Bureau is only available in Texas, you may find it interesting to know that the average annual homeowners insurance rate in the Lonestar State is $1,967. So, Texas Farm Bureau is a whopping 49 percent cheaper than the statewide average.

It's important to note that your homeowners insurance premium will vary based on your rating factors, such as your home's age, location and your claims history.

Texas Farm Bureau home insurance discounts

Like its auto insurance, Texas Farm Bureau does not disclose all the specifics of its home insurance discounts. However, a few discounts available for a Texas Farm Bureau home insurance policy include:

To learn about all the ways that you may save on your Texas Farm Bureau home insurance policy, please contact an agent.

Texas Farm Bureau home tools and benefits

If you're looking for the best homeowners insurance company, it may be a good idea to compare a company's rates with the perks and benefits it could provide. Once you're a member of the Farm Bureau, you may be able to refinance your home loan through Farm Bureau Mortgage, get exclusive discounts on Sherman Williams products for home improvement projects and save on Grasshopper brand lawnmowers.

Texas Farm Bureau life insurance

Texas Farm Bureau may be a good life insurance company for you if it already provides coverage for your home or auto. The company offers many types of life insurance, including the following:

• Term: Texas Farm Bureau offers term life insurance policies with 10-, 20- and 30-year options. You may also be able to convert your term policy into a whole life policy, as long as you opt for convertible life.
• Permanent: Texas Farm Bureau offers two primary permanent life insurance policy types. These may be suitable for those looking to use their life insurance policy in estate planning or other end-of-life arrangements.
• Whole: Whole life insurance options with Texas Farm Bureau include basic whole life, modified premium whole life, 20-pay life and single premium whole life.
• 15-Pay juvenile life: This uncommon policy type from Texas Farm Bureau allows parents to purchase a whole life policy for their children as long as their child is 15 years old or younger.

Pros and cons of Texas Farm Bureau life insurance

If you’re considering Texas Farm Bureau as a cheap life insurance option, you may want to contact an agent directly — the company doesn’t provide much life insurance information on its website. However, the table below could give you a launching point for questions you may want to ask your agent.

Texas Farm Bureau life insurance endorsements

Endorsement information for Texas Farm Bureau life insurance is slim, but the company does state that riders are available for its whole life policies. For specifics, you could contact an agent for a life insurance quote.

Texas Farm Bureau life tools and benefits

Aside from term, whole and life insurance for children, Farm Bureau also offers long-term care insurance, which can provide coverage for the additional expenses you might incur if you need nursing home care.

Texas Farm Bureau customer satisfaction

Although affordable rates may be essential when gathering insurance quotes, it’s not the only consideration for many customers. For some, customer satisfaction is just as important as cheap premiums. For this reason, Bankrate reviews a variety of metrics to analyze an insurance company’s customer satisfaction. Among these metrics are third-party scores issued by J.D. Power. The higher a company ranks out of 1,000 points in a J.D. Power study, the more satisfied its customers could be.

Additionally, we study where a company lands on the NAIC Customer Complaint Index. To understand this data, know that the NAIC compiles complaints that policyholders lodge against a company and converts the number of complaints into an index score. A company with an average amount of complaints for its size will have an index of 1.00. A company with an index higher than that receives more complaints on average, and an index lower than 1.00 indicates fewer complaints than average.

Texas Farm Bureau auto satisfaction

Auto customer satisfaction is where Texas Farm Bureau truly shines. The company scored first place with an impressive 873 points out of 1,000 for overall customer satisfaction in the Texas region during the J.D. Power 2022 U.S. Auto Insurance Study. Year over year, the company does well in the J.D. Power Auto Insurance Study, indicating that its customers are generally happy with the service it provides.

Texas Farm Bureau’s auto satisfaction in the J.D. Power survey may be backed up by its private passenger NAIC Complaint Index, which is 0.12. To put this into perspective, the NAIC has only received two complaints regarding the company’s car insurance.

Texas Farm Bureau homeowners satisfaction

Unlike its auto insurance studies (which are conducted on a regional level), J.D. Power's home insurance studies are performed on a national level. As such, Texas Farm Bureau home insurance was not included in J.D. Power’s 2022 home study, likely because it is a regional insurer.

Although J.D. Power scores are unavailable for Texas Farm Bureau home insurance, the company has only received one homeowners complaint with the NAIC, giving them a complaint index of 0.02.

Texas Farm Bureau life satisfaction

Texas Farm Bureau life insurance was not included in the J.D. Power 2022 U.S. Individual Life Insurance Study, nor are its NAIC life insurance complaint indexes available. The company does have a financial strength rating of A (Excellent) from AM Best. Although an Excellent financial strength rating may not be a direct indicator of a company’s customer service, it does mean that, historically, the company has demonstrated its ability to pay out claims when required. Fast and fair claims service may result in more satisfied customers.

How to file a claim with Texas Farm Bureau

Filing a claim with Texas Farm Bureau should be easy, but you might be able to streamline the process if you have some basic information handy. For instance, if you need to file a car insurance claim, you will likely need to provide your policy number, the date of the accident, what occurred and the other driver’s details.

When you’re ready, you can file a claim with Texas Farm Bureau by:

• Logging onto the company’s online claims portal
• Calling the 24/7 claims hotline at 1-800-266-5458
• Contacting your local agency
• Reporting the claim on the Texas Farm Bureau mobile app

Keep in mind that most insurance professionals recommend that you file your claim as soon as possible. Even if you don’t have all the information available, you may want to contact the company to let them know that you were involved in a claim so the process can begin.

Texas Farm Bureau availability

Texas Farm Bureau insurance is only available in Texas.

Other Texas Farm Bureau perks worth considering

In addition to auto, homeowners and life insurance, Texas Farm Bureau offers:

• Farm and ranch insurance: Texas Farm Bureau has specialized insurance products that offer protection for farmers and ranchers, including coverage for barns and inland marine policies to cover farming equipment.
• Renters insurance: If you are a renter, you may want to consider a Texas Farm Bureau renters policy for financial protection for your liability and personal property.
• Landlord’s insurance: Typically, a standard homeowners insurance policy will not provide coverage if you rent out your property full-time — this is where landlord’s insurance may step in.
• Commercial property insurance: Texas Farm Bureau offers a range of commercial insurance products tailored for this unique exposure, including commercial property, commercial liability policies and a combination commercial package.

Texas Farm Bureau corporate sustainability

The Texas Farm Bureau was created in 1952 to represent the interests of farmers and ranchers across the Lonestar State. With that said, the group has a strong presence in the Texas agricultural sector. The Texas Farm Bureau lobbies for farm and ranch rights in Austin (the state capital) and Washington, D.C. It also promotes climate sustainability by advocating reduced emissions and water pollution in the farming industry.

In addition to its political and climate sustainability efforts, the Texas Farm Bureau also has available leadership programs to encourage people ages 18 to 35 to get involved in the agricultural industry. The carrier is active in the classroom by providing educators with teaching resources focused on Texas agriculture and offering scholarship opportunities for students interested in agricultural studies.

Not sure if Texas Farm Bureau is right for you?

This Texas Farm Bureau Insurance review may have you wondering if it's the right company for you. If so, you may want to consider requesting quotes from the carriers below:

Texas Farm Bureau vs. Amica

Amica tied in the 2023 Bankrate Award for best overall auto insurance company, partly due to its high customer satisfaction, cheap car insurance rates and national availability. In addition to lower-than-average car insurance premiums, the company offers plenty of discount opportunities that may help you save even more.

Learn more: Amica Insurance review

Texas Farm Bureau vs. Liberty Mutual

If you are looking for a robust car insurance policy that includes add-ons like better car replacement and a lifetime repair guarantee, requesting a quote with Liberty Mutual may be worth your time. Like Texas Farm Bureau, it offers home and life insurance, too.

Learn more: Liberty Mutual Insurance review

Texas Farm Bureau vs. State Farm

State Farm ranked second in Texas — just behind Texas Farm Bureau — in the J.D. Power 2022 U.S. Auto Insurance Study. State Farm also boasts highly-rated digital tools, a feature that Texas Farm Bureau may struggle with.

Learn more: State Farm Insurance review

Is Texas Farm Bureau a good insurance company?

Bankrate’s insurance editorial team includes three licensed agents, so we understand the importance of obtaining affordable, quality coverage. At the end of the day, our aim is to provide our readers with easy-to-understand information that they may use to feel empowered during their insurance shopping journey.

Whether or not Texas Farm Bureau is a good company likely depends on you and your needs. If you live in Texas, are looking for cheap homeowners insurance and don’t mind paying an annual membership fee (which also grants access to additional savings and benefits), then Texas Farm Bureau could be the company for you. This carrier could also be an excellent choice for people who feel passionately about farming and ranching issues, since the Texas Farm Bureau advocates for this demographic. However, better options may be available if you prefer to handle your insurance policies digitally via a mobile app and don’t enjoy an in-person agency experience. To find out if Texas Farm Bureau could meet your needs, the best course of action may be to call an agent and request a quote.

Methodology

Bankrate utilizes Quadrant Information Services to analyze 2023 rates for ZIP codes and carriers in all 50 states and Washington, D.C. Rates are weighted based on the population density in each geographic region. Quoted rates are based on 40-year-old male and female homeowners with a clean claim history, good credit and the following coverage limits:

Homeowners

• Coverage A, Dwelling: $150,000, $250,000, $350,000, $450,000, $750,000
• Coverage B, Other Structures: $15,000, $25,000, $35,000, $45,000, $75,000
• Coverage C, Personal Property: $75,000, $125,000, $175,000, $225,000, $375,000
• Coverage D, Loss of Use: $30,000, $50,000, $70,000, $90,000, $150,000
• Coverage E, Liability: $300,000, $300,000, $300,000, $300,000, $500,000
• Coverage F, Medical Payments: $1,000

The homeowners also have a $1,000 deductible and a separate wind and hail deductible (if required).

These are sample rates and should be used for comparative purposes only. Your quotes will differ.