Farm Bureau Insurance Review
Editor's Rating
Farm Bureau offers cheap car insurance rates, average home insurance rates and excellent customer service, making it an attractive option for members. While there is an annual membership fee to join Farm Bureau, this cost is typically outweighed by the potential savings compared to other insurance companies.
Farm Bureau: A great choice for home and auto insurance
Farm Bureau offers some of the most competitive quotes in the car insurance industry. Cheap rates, alongside solid customer service reviews, make Farm Bureau a worthy option to consider for any customer.
The company's home insurance rates are less competitive, but prices are still cheaper than average. Strong customer service and a good set of coverage add-ons make it worthwhile to get a quote from Farm Bureau.
Membership in the Farm Bureau is available to all drivers or homeowners, not just farmers. Although there is an annual fee associated with membership, usually less than $100 depending on where you live, this cost is offset by its industry-leading rates.
Few major carriers are able to compete with Farm Bureau's auto insurance prices, though Geico was an exception. In addition to its competitively priced auto insurance policies, however, Farm Bureau members can take advantage of other perks, such as discounts for travel, entertainment and prescriptions.
Below, we review industry experts' analysis of Farm Bureau customers' claims satisfaction. Overall, Farm Bureau has among the highest ratings we've seen for a major carrier.
Car insurance take-away: If you're looking for the cheapest rates available, we recommend comparing auto insurance quotes from Farm Bureau and Geico. Both insurance companies offer some of the most competitive rates among major carriers. And while Farm Bureau doesn't have many unique car insurance discounts, its low rates, excellent customer service and additional membership perks make it an attractive option to consider.
Home insurance take-away: Farm Bureau is a good company to look at if you place a premium on customer service and don't mind paying average rates. The company has a set of coverage options and discounts that can match what's available from many of the largest insurers in the country.
Farm Bureau car insurance
Whether you're a college student looking for the cheapest quotes or a farmer who's already a member of the local chapter, Farm Bureau's rates are best-in-class. In this review, we describe Farm Bureau's car insurance coverage options and discounts, and compare its rates to other industry-leading competitors.
Find the Cheapest Car Insurance Quotes in Your Area
Farm Bureau auto insurance quotes comparison
Across three driver profiles we studied, Farm Bureau offered competitive, and sometimes the cheapest, car insurance rates. Based on our sample driver profiles, Geico is the only insurer that offers rates on par with the quotes offered by Farm Bureau. Notably, Farm Bureau was also the only insurer that did not change its annual rate based on gender or marital status.
Find the Cheapest Car Insurance Quotes in Your Area
Progressive and Allstate were both significantly more competitive than Farm Bureau for all three driver profiles. Unless you're debating obtaining coverage from Geico, it may be challenging to find cheaper rates with another insurer.
Monthly full coverage car insurance rates
Single Male
Single Female
Married Male
Company | Monthly rate | |
|---|---|---|
| Farm Bureau | $140 |
| Geico | $151 |
| Progressive | $292 |
| Allstate | $344 |
Single Male
Company | Monthly rate | |
|---|---|---|
|
| Farm Bureau | $140 |
|
| Geico | $151 |
|
| Progressive | $292 |
|
| Allstate | $344 |
Single Female
Company | Monthly rate | |
|---|---|---|
|
| Geico | $134 |
|
| Farm Bureau | $140 |
|
| Progressive | $292 |
|
| Allstate | $380 |
Married Male
Company | Monthly rate | |
|---|---|---|
|
| Geico | $133 |
|
| Farm Bureau | $140 |
|
| Progressive | $203 |
|
| Allstate | $336 |
Drivers should still remember, however, that they must pay for annual membership in order to be eligible for Farm Bureau's auto insurance policy. The cheapest tier of membership typically costs $100 or less annually, but it should still be included in your calculations when ultimately deciding on an insurer.
Farm Bureau auto insurance coverage options
Along with standard coverage options, Farm Bureau allows customers to supplement their coverage with add-on services and protections.
Add-on coverage options at Farm Bureau are priced individually, so savings depend on whether you're eligible and what you choose. Rates for both standard coverage options and add-ons can vary widely depending on your driver profile and location. Add-on coverages include:
-
Replacement-cost coverage: Reimburses you for the cost to replace vehicle models up to four or five years old, depending on the state.
- Roadside-assistance coverage: Offers emergency roadside assistance, including towing and pick-up services following an accident or vehicle malfunction.
Special offerings: Driveology
Policyholders should consider enrolling in Farm Bureau's Driveology program if they can demonstrate consistent safe driving behavior. Drivers install a small device in their vehicle's OBD-II port. If the data gathered from the device indicates good driving behavior, drivers may save up to 30% on their car insurance premiums.
Other coverage considerations: Farm Bureau mutual dividend policies
Some of Farm Bureau's local chapters are mutual insurance companies, which means they're owned by policyholders. From time to time, policyholders may receive dividends. These don't have to be used as a rebate against car insurance — policyholders can use the funds for anything. However, dividends are based on the insurer's profitability, so they're not guaranteed. Farm Bureau subsidiaries will monitor their annual performance to determine if they will offer a dividend payment in any given year.
Car insurance discounts offered by Farm Bureau
While Farm Bureau doesn't have especially unique discounts compared to other insurers, it does offer many of the standard or widely available discounts. In fact, Farm Bureau's rates are typically already discounted to members, which is one of its main selling points to customers.
Farm Bureau does offer the Driveology program, which can help safe drivers save money. After installing a small device that measures driving behavior, drivers may receive a discount up to 30% off their premiums. Plus, they can take advantage of additional savings through Farm Bureau's SafeRide Rewards program.
Farm Bureau also offers a program known as SuperCheck, in which an agent reviews your policy once a year to ensure you're receiving all eligible discounts. A sample list of Farm Bureau car insurance discounts follows.
- Affinity group discount
- Anti-theft discount
- Claim-free discount
- Driveology discount
- Continued in force credit
- Good student discount
- Member's choice bundle discount
- Multicar discount
- Low-mileage discount
- Smart pay discount
- Safe young driver training discount
Discount availability and eligibility varies across states. Not all discounts may be available with your local Farm Bureau chapter.
It's also worth mentioning that membership with Farm Bureau offers several other discounts unrelated to car insurance that may appeal to customers. You may save on:
- Agricultural equipment.
- Vacations, including hotel stays and rental cars.
- Prescriptions.
- Entertainment venues.
Farm Bureau home insurance
Farm Bureau is a good choice for home insurance because of useful coverage options and strong customer service, which will make life easier if something happens to your home. You will, however, not find the cheapest rates, as Farm Bureau's prices are close to average.
Find the Cheapest Home Insurance Quotes in Your Area
Farm Bureau home insurance quotes comparison
Farm Bureau has rates that are slightly below average. The average price of $1,580 per year is about 2% lower than the average of major insurers. Farm Bureau is cheaper than some large insurers like Nationwide and Travelers.
Find the Cheapest Home Insurance Quotes in Your Area
Farmers, American Family and State Farm offer the best rates based on our analysis of major insurers.
Annual home insurance rates
Company | Rate | |
|---|---|---|
| Farmers | $1,351 |
| American Family | $1,401 |
| State Farm | $1,561 |
|
| Allstate | $1,574 |
|
| Farm Bureau | $1,580 |
Farm Bureau home insurance coverage options
Farm Bureau doesn't offer the widest array of add-on coverage options, but it does include several important ones.
-
Replacement cost coverage: Pays up to 125% of your coverage limits if your home suffers significant damage.
- Personal property insurance: Specifically covers high-value items like jewelry, cameras and electronics.
- Umbrella insurance: Increases your liability protection so that if something happens on your property and you're deemed responsible, you'll be protected.
-
Equipment breakdown coverage: Covers appliances like your furnace, air conditioner, water heater, electrical systems or TVs.
Standard home insurance coverage will cover the structure of your home, your personal belongings, some living expenses if an event forces you out of your home and liability protection.
Home insurance discounts offered by Farm Bureau
Farm Bureau offers homeowners a set of somewhat standard discounts for home insurance. None are particularly unique, but they can help you lower your rates.
Farm Bureau has agents meet with you at least once a year to go over your insurance needs and coverages, a process the company brands as "Super Check." This is a chance to identify new discounts you can take advantage of, as well as raise or lower coverage to match your needs.
- Farm Bureau Member’s Choice discount
- One Deductible Advantage discount
- New home discount
- New roof discount
- Protective device discount
- Continued in-force credit
Discount availability and eligibility varies across states. Not all discounts may be available with your local Farm Bureau chapter.
Farm Bureau insurance reviews and ratings
Farm Bureau's customer reviews are generally positive. Customers typically describe agents as very accommodating and compassionate. Their community-based agents provide a personal touch that's often heralded as a reason to use the insurer. In fact, Farm Bureau ranked first in J.D. Power's 2022 U.S. Auto Insurance Study for both the Southeast and Texas regions.
Farm Bureau insurance ratings
Source | Rating |
|---|---|
| A.M. Best | A |
| J.D. Power | 1st place |
Farm Bureau policyholders should generally anticipate a smooth claims process for auto insurance. The National Association of Insurance Commissioners (NAIC) reports that the Texas Farm Bureau, for example, has a 2021 Complaint Index of 0.12 for auto insurance and 0.02 for home insurance, which are both substantially lower than the national median of 1.00. Such a low Complaint Index suggests Farm Bureau receives fewer complaints than average relative to other insurers.
While the Farm Bureau has a presence in all 50 states and Puerto Rico, it only underwrites and sells its own auto insurance policies in some areas. In 19 states, a local Farm Bureau subsidiary underwrites policies. In the remaining states, either a regional Farm Bureau affiliate serves customers, or local Farm Bureau members may qualify for discounted rates at partner insurers.
Partner insurance companies include large national carriers such as Nationwide and Country Financial. One exception is Hawaii, where the local Farm Bureau does not underwrite auto insurance policies.
Farm Bureau has excellent capacity to pay out customer insurance claims, according to A.M. Best's Financial Strength Rating. In fact, Farm Bureau was rated A by A.M. Best, which awards letter grades based on a company's ability to meet their financial obligations. The A indicates Farm Bureau is regarded as financially stable enough to pay out customer claims. If you need to file a claim, you can call 800-226-6383.
Frequently asked questions
Is Farm Bureau a good insurance company?
Yes, Farm Bureau has competitive rates and dependable customer service. That makes it a good option for home and auto insurance.
What kind of insurance does Farm Bureau sell?
Availability may vary by state, but most Farm Bureau affiliates sell home, auto, farm/ranch and life insurance, among other types of coverage.
Is Farm Bureau cheap?
Yes, Farm Bureau offers car insurance rates that are consistently very affordable for a range of different drivers. Home insurance rates are a little cheaper than average.
Methodology
ValuePenguin's analysis used insurance rate data from Quadrant Information Services. These rates were publicly sourced from insurer filings and should be used for comparative purposes only. Your own quotes may be different.
Home insurance rates were averaged from thousands of quotes across the 17 states in which Farm Bureau is one of the 15 largest home insurers. Rates are for homes of an average age and value in each state and are compared to other major insurers.