Let’s compare Farm Bureau Vs State Farm to find out which company offers the best car and home insurance services. In the review, we will compare customer complaints, discounts, roadside assistance, and more.
Comparing insurance claims.
In the J.D. Power 2017 U.S. Auto Claims Satisfaction Study, State Farm was rated higher than a majority of the insurance companies on the list. State Farm scored higher than many of the most popular insurance companies such as Nationwide, Liberty Mutual, Allstate, Progressive, Esurance, etc. In the 2017 U.S. Home Insurance Study State Farm also rated higher than most insurance companies on the list with 4 out of 5 Power Circles. These high ratings show that State Farm is great for those who need a company with great home and auto insurance claims.
Farm Bureau did not rank in the Home and Auto Insurance Claims Satisfaction Study. However, Farm Bureau was ranked when comparing the top insurance companies in the southeast region. Farm Bureau Insurance-Tennessee was the top company in the J.D. U.S. Auto Insurance Study with 5 out of 5 Power Circles. The fourth company on the list was NC Farm Bureau with 4 out of 5 Power Circles. The sixth company on the list was KY Farm Bureau with 3 out of 5 Power Circles.
Financial strength comparison – This comparison allows us to know the financial condition of both insurance companies. It allows us to see if these companies have the ability to pay claims.
On average Farm Bureau insurance companies have a financial strength rating of A- and higher from A.M. Best.
State Farm has over $200 billion in assets. There are not too many companies that can compete with State Farm when it comes to financial strength. With over $200 billion in assets, State Farm can easily pay your insurance claims. A.M. Best rated State Farm with an “A++” rating, which is the highest possible rating that you can receive. S&P Global Ratings rated State Farm with an “AA.”
Similar to AAA, Farm Bureau is a membership organization. The cheapest membership fees can cost you anywhere from $20 to $75 a year. Although you have to pay a yearly membership fee, Farm Bureau is known for their affordable insurance rates. State Farm on average is cheaper than the national insurance average by over $100.
You might get a better quote with Farm Bureau than with State Farm. There is no real way to find the best cheap auto insurance company without comparing insurance quotes. Rates vary on the state and city that you live in, the discounts that you are eligible for, the age of the driver, the make and model of the car, etc.
To compare customer complaints, we will be using Better Business Bureau. BBB allows us to know how State Farm and Farm Bureau handle the complaints of their customers. Both insurance companies received a BBB grade of “A+.”
Better Business Bureau rating factors include complaint history, type of business, time in business, competency licensing, failure to honor mediation/arbitration, failure to address complaint pattern, transparent business practices, and more.
Discounts and features comparison
Farm Bureau discounts/features
Member discounts – There are many benefits of being a member of Farm Bureau. Members can enjoy various travel discounts to companies such as Hertz, Choice Hotels, Enterprise, Orlando Employee Discounts, Tripbeat Endless Vacation, Red Roof Inn, and more. Other Farm Bureau benefits include health & wellness benefits, family entertainment benefits, home/auto benefits, farm/business benefits, and more.
Driveology – Driveology is similar to a pay as you go car insurance program. However, Driveology tracks more than just how many miles that you drive. Driveology tracks trips, travel times, your car’s health, fuel consumption, acceleration or harsh braking alerts. Safe driving and driving less can save you up to 30 percent on your auto premium.
Safe Driver Discount – For those who have kept a good driving history, you will easily be able to benefit with a lower insurance premium with Farm Bureau.
Continued In-Force Credit – Those who continue with Farm Bureau Member’s Choice policies at the time of renewal are rewarded with loyalty credit.
Safe Young Driver Discount – Farm Bureau is a great company for those who need cheap insurance for drivers under 25. Completing Farm Bureau’s Young Driver Safety program can result in receiving a discount.
Low Mileage Discount – Drivers who drive less than 7500 miles per year can save with the FB Low Mileage discount.
Accidental death coverage – Free Limited Accidental Death Benefit starting at $1,000 the first year and increasing $100 each consecutive year.
State Farm features/discounts
Accident Free – This is a great discount that increases over time for drivers who have been accident free for at least 36 months with State Farm.
Good Driving Discount – If you are a new State Farm customer and you have gone three years without an at-fault accident or moving violation, then SF will reward you for your good driving.
Multiple Line Discount – Bundling policies can help you save up to 17% with State Farm.
Passive Restraint Discount – If you qualify for this discount, then you will be able to save up to 40% on medical-related coverage.
Good Student Discount – Getting good grades can save you up to 25% on auto insurance. The great thing about this discount is that you will be able to benefit from this discount after you graduate until you turn 25.
Drive Safe & Save – Enrolling in the Drive Safe & Save program can help you get a discount of up to 50%.
Farm Bureau’s roadside assistance coverage includes up to $100 of services ($500 for RVs).
- Emergency towing services
- Flat tire service
- Auto lockout service
- Fuel service
State Farm’s 24-hour Emergency Roadside Service includes:
- Gas or Oil
- Mechanical labor (up to 1 hour)
- Change Tire
Mobile app comparison
State Farm’s app offers amazing features such as CarCapture, Steer Clear, Drive Safe & Save, submit a claim, roadside assistance, view your insurance card, and more.
Farm Bureau’s app allows you to send for help, view your ID card, pay bills, find the nearest office, find membership discounts, and more.
Available products to insure – The more insurance products that are available to you, the more you can insure and save on insurance by bundling.
Farm Bureau offers insurance for auto, motorcycle, home, life, farm/ranch, health, and business.
State Farm offers insurance for auto, motorcycles, sport & leisure vehicles, home & property, identity restoration, life, health, long-term care, disability, liability, and small business insurance.
Both companies are well rated across the boards, both offer various ways to save, and both insurance providers offer affordable rates. I encourage you to compare quotes right now to see which company offers cheaper rates in your area.