Farm Bureau Home and Auto Insurance Reviews
Farm Bureau Home and Auto Insurance Reviews
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If you're in one of the 31 states where Farm Bureau operates, you might have come across their home and auto insurance offerings. Known for providing basic coverage at reasonable rates, Farm Bureau offers a range of insurance products. While they cater to a wide audience, their focus on farming and rural communities remains strong. Let’s explore what makes Farm Bureau insurance a popular choice and where it might fall short.
Quick Overview: Pros and Cons
Pros:
- Affordable Liability Car Insurance: Farm Bureau offers competitive rates, especially for liability coverage.
- Personalized Service: Customers appreciate the personalized service from local agents.
- Non-Farmers Welcome: Despite the name, you don’t have to be a farmer to buy their insurance.
- Solid Ratings: Farm Bureau has good ratings for financial strength and customer satisfaction.
- Supports Agricultural Communities: Part of your membership supports local farming and ranching initiatives.
Cons:
- Membership Required: You need to pay an annual Farm Bureau membership fee, ranging from $30 to $50.
- High Home Insurance Rates: Farm Bureau's home insurance tends to be more expensive than average.
- Limited Coverage Options: The range of coverages and discounts is somewhat basic compared to competitors.
- Limited Online Features: Shopping for insurance online can be challenging due to limited digital tools.
Is Farm Bureau a Good Insurance Company?
Farm Bureau is known for its affordable car insurance rates, particularly for drivers with prior incidents and teens. However, its homeowners insurance rates are generally higher than the national average. Discounts for bundling home and auto insurance can help offset these costs, making Farm Bureau a competitive option for those who need both types of coverage.
Despite its name, you don’t need to be involved in farming to purchase Farm Bureau insurance. However, all customers must join their local Farm Bureau, which provides additional benefits and discounts on various products and services.
How Much Does Farm Bureau Car Insurance Cost?
Farm Bureau's car insurance is competitively priced. On average, their full-coverage car insurance costs $1,931 annually, which is slightly below the national average. Liability insurance is even more affordable at $548 per year.
| Company | Annual Rate Full Coverage | Annual Rate Liability |
|---|---|---|
| State Farm | $1,487 | $597 |
| Auto-Owners | $1,690 | $516 |
| Travelers | $1,919 | $835 |
| American Family | $1,920 | $728 |
| Farm Bureau | $1,931 | $548 |
| Geico | $1,937 | $727 |
| Progressive | $2,032 | $791 |
| Nationwide | $2,226 | $963 |
| Allstate | $2,609 | $1,158 |
| Farmers | $3,091 | $1,188 |
Farm Bureau also offers competitive rates for drivers with blemished records. For instance, drivers with a speeding ticket can expect to pay about $2,191 annually, which is below the national average.
Farm Bureau Car Insurance Costs for Teens
Teen drivers, often facing the highest insurance rates, will find Farm Bureau’s pricing relatively reasonable. The average annual rate for liability insurance for teens is $1,574, which is significantly lower than the national average.
| Type of Car Insurance | Farm Bureau Annual Rate | U.S. Average |
|---|---|---|
| Liability only | $1,574 | $2,433 |
| Full coverage | $4,451 | $5,824 |
How Much is Farm Bureau Home Insurance?
Farm Bureau's homeowners insurance costs average $3,639 per year, which is 28% higher than the national average. This may be a drawback for potential customers who are looking for low-cost home insurance.
| Company | Annual Rate |
|---|---|
| State Farm | $2,427 |
| Allstate | $2,560 |
| Nationwide | $3,055 |
| American Family | $3,072 |
| Travelers | $3,149 |
| Farm Bureau | $3,639 |
| Farmers | $3,801 |
Discounts Offered by Farm Bureau
Farm Bureau provides several basic discounts, including savings for bundling home and auto insurance. They also offer discounts for safe driving, which can be monitored via a smartphone app. Teens with good grades might be eligible for a good student discount, and long-term policyholders often receive loyalty discounts.
Coverage Options with Farm Bureau
Farm Bureau focuses on standard coverages for both home and auto insurance, such as:
- Auto Insurance: Liability, collision, comprehensive, uninsured/underinsured motorist, personal injury protection, rental car reimbursement, and roadside assistance.
- Homeowners Insurance: Dwelling, other structures, personal property, loss of use, and personal liability.
While their website doesn’t detail additional coverage options, Farm Bureau agents can assist in customizing policies, including obtaining additional coverage for valuables or arranging separate flood and earthquake insurance.
How to Get Farm Bureau Insurance
Farm Bureau policies can be obtained online, over the phone, or by visiting a local office. Each state’s Farm Bureau operates independently, offering a range of services and insurance products tailored to local needs.
Farm Bureau is a part of the American Farm Bureau Federation, which advocates for agricultural interests. This connection ensures that part of your membership goes towards supporting farming communities, making it a unique choice for customers who value this mission.
Conclusion
Farm Bureau is a solid choice for individuals seeking affordable car insurance with basic coverage. While their homeowners insurance may not be the cheapest, bundling options and personalized service from local agents can provide added value. Whether you’re involved in agriculture or not, Farm Bureau offers a viable option for home and auto insurance, especially if you prefer supporting local farming and rural communities.
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