Do State Farm and Farm Bureau offer homeowners insurance?

Both State Farm and Farm Bureau offer home insurance policies. State Farm has broader coverage areas since it is in more states, but policy options from both may vary by location.

What is the average cost of car insurance?

In the United States, the average cost of car insurance is $[sc code='insurance_rates' type='national' latest='true' profile_names='Base Auto Female 2023,Base Auto Male 2023' ] per year for a full-coverage policy. However, you might pay more or less than the national average based on factors like your state, driving record, claims history and the amount of coverage you need.

Which car insurance company is the best?

The best car insurance company is unique to each driver, because providers vary in many aspects. Before you choose a car insurance carrier, spend some time shopping around and get multiple quotes to find the lowest rate.

Which insurance company is best at paying claims?

When it comes to financial stability and the ability to pay claims, both State Farm and Farm Bureau are highly rated by AM Best, a recognized rating agency in the insurance industry. State Farm’s auto insurance has an A++ (Superior) rating, indicating a superior ability to meet its ongoing insurance obligations. Farm Bureau holds an A (Excellent) rating, also reflecting a strong ability to meet its financial commitments. While State Farm's rating is higher, both companies are well-regarded in terms of financial health, suggesting they are both reliable choices for paying claims. The best company for you might depend on other factors, including the types of coverage offered, customer service experience and overall value.

Is State Farm or Farm Bureau better?

Determining if State Farm is better than Farm Bureau largely depends on your specific needs and circumstances. State Farm, with its wide range of coverage options and extensive agent network, might be a better fit if you're looking for comprehensive coverage and personalized service across the country. On the other hand, Farm Bureau could be more appealing if you value a more localized service experience and are located in one of the states where it operates, especially if you're connected to the agricultural community or can benefit from its membership perks. Ultimately, the better choice is the one that aligns most closely with your insurance needs, lifestyle and budget.

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State Farm vs. Farm Bureau

Written by

Ashlyn Brooks

Edited by

Lisa McArdle

Edited by

Lisa McArdle

Updated Jun 21, 2024

Choosing between State Farm and Farm Bureau for your insurance involves comparing each provider's offerings, customer satisfaction and specialized benefits to find the best fit for your individual needs.

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State Farm Insurance was founded in 1922 and is the largest car insurance company in the U.S. based on market share. State Farm sells a variety of different insurance products, from health insurance to pet insurance. The company employs more than 19,000 agents, sells coverage in all 50 states and underwrites its own policies.

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. Farm Bureau is not among the top 10 insurance companies for market share.

Our verdict

State Farm is much larger than Farm Bureau and offers coverage in many more regions. While both have good financial strength ratings from AM Best, State Farm ranked above average in each region of the 2023 J.D. Power U.S. Auto Insurance Study while Farm Bureau only ranked in the Southeast region and Texas, where it ranked above average as well. Both offer standard coverage options, but policyholders have more extensive options with State Farm.

State Farm vs. Farm Bureau comparison

There are several useful ways to compare State Farm vs. Farm Bureau when considering a policy. Below we’ve compiled pros and cons, rate comparisons and more.

Featured State Farm Rating: 4.3 stars out of 5 4.3 Bankrate scores primarily reflect a weighted rank of industry standard ratings for financial strength and customer experience, in addition to average quoted rates. A secondary assessment of each provider's online and mobile resources and policy management options also contributed to overall ratings Cost & ratings Rating: 4.3 stars out of 5 4.3 Coverage Rating: 4 stars out of 5 4.0 Support Rating: 4.4 stars out of 5 4.4 Read Review	Farm Bureau Rating: 3.6 stars out of 5 3.6 Bankrate scores primarily reflect a weighted rank of industry standard ratings for financial strength and customer experience, in addition to average quoted rates. A secondary assessment of each provider's online and mobile resources and policy management options also contributed to overall ratings Cost & ratings Rating: 4.5 stars out of 5 4.5 Coverage Rating: 2.5 stars out of 5 2.5 Support Rating: 3.2 stars out of 5 3.2 Read Review
OVERVIEW Bankrate identified key carrier features, coverage offerings, discounts and more
Policyholders who value a personalized experience through a local agent, bundling insurance policies with the same company and highly rated customer service might consider State Farm as their company of choice. Read More	Policyholders who appreciate community-focused insurance with access to specialized agricultural benefits and local support may find Farm Bureau suits their insurance needs well. This provider is known for its dedication to the unique insurance requirements of farmers and rural residents. Read More
STANDOUT FEATURES These features are some of the carrier’s most impressive
Two safe driving programs Above average J.D. Power score Local agents available	Driveology program High regional J.D. Power scores Membership benefits available
AVG FULL COV. AUTO RATE Average national annual cost of a full coverage auto insurance policy
$2,624	$2,831
AVG MIN COV. AUTO RATE Average national annual cost of a minimum coverage auto insurance policy
$827	$1,094
J.D. POWER AUTO SCORE J.D. Power’s Auto Claims Satisfaction Study assesses customer satisfaction with the claims experience on a 1,000-point scale
882/1000	Not Scored
AM BEST RATING AM Best ratings assess companies’ financial strength based on historical ability to pay out claims, among other financial obligations
A++(Superior)	A(Excellent)

State Farm pros and cons

Pros

Highly rated apps
Extensive coverage area
Ranks well in the 2023 J.D. Power U.S. Auto Insurance Study for most regions
Many discounts available, including savings aimed toward parents with young drivers

Cons

May charge drivers with bad credit more than competitors do
Coverage options can vary by state
Does not offer gap insurance
Does not offer accident forgiveness

Farm Bureau pros and cons

Pros

Offers its Driveology usage-based insurance program
Offers multiple discounts
Has a superior financial strength rating from AM Best
Ranks above average in the regions it is included in the 2023 J.D. Power U.S. Auto Insurance Study

Cons

Not available in all states
May offer fewer endorsements than others
Requires membership for coverage
Coverage options and discounts could vary by state-specific Farm Bureaus

Is State Farm cheaper than Farm Bureau?

Comparing the affordability of State Farm and Farm Bureau requires a closer look, as rates can vary based on several factors including location and specific coverage needs. We've utilized data from Quadrant Information Services to directly compare the average rates of State Farm with those of Farm Bureau. This comparison aims to provide a clearer picture of what you might expect to pay, though actual rates could differ based on individual circumstances and state-specific Farm Bureau.

Driver profile	State Farm avg. full coverage premium	Farm Bureau avg. full coverage premium
Young driver (age 25)	$3,085	$3,233
Senior driver (age 70)	$2,446	$2,597
Good driver, good credit	$2,624	$2,831
Good driver, poor credit	$9,043	$5,271
Speeding ticket with good credit	$3,051	$3,218
At-fault accident with good credit	$3,375	$4,048

Bankrate's take

State Farm no longer writes auto insurance coverage for drivers with DUI convictions. For that reason, rates were not provided for each carrier. If you have a DUI on your record, getting a quote from an insurance provider specializing in high-risk auto insurance may be helpful.

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 may vary. Here are some of most notable discounts from both companies:

Discounts available from both carriers

Both State Farm and Farm Bureau provide several common discounts that could benefit a wide range of drivers. These discounts typically include:

Multi-policy discounts: You might save if you hold more than one policy with the same company, such as combining auto and home insurance.
Safe driver discounts: If your driving record is free of accidents and traffic violations, you could be eligible for lower rates.
Defensive driving course discounts: Completing an approved defensive driving course could lead to savings on your premium.

State Farm discounts

When conducting our State Farm insurance review, we found that it offers several special discounts:

Vehicle safety savings: Discounts for vehicles with safety features appropriate to the car's make and model.
Passive restraint discount: Could save up to 40 percent off medical-related coverage for vehicles from 1993 or older with factory-installed airbags or passive restraints.
Anti-theft discount: Savings for vehicles equipped with an alarm or approved anti-theft device.

Farm Bureau discounts

When comparing State Farm vs. Farm Bureau, we found that Farm Bureau had some discounts unique to the company:

Low mileage discount: You might be eligible for this discount if you drive your vehicle 7,500 miles or less per year, reflecting lower risk due to reduced road time.
Discounts for multiple cars: Bundling more than one vehicle on your Farm Bureau Members Choice policy could lead to savings on the rates for each insured car in your household.
Continued in-force credit: Loyalty pays with Farm Bureau; renewing your Farm Bureau Member's Choice policies could earn you a loyalty credit, recognizing and rewarding your ongoing relationship with the company.

State Farm and Farm Bureau telematics programs

Many car insurance companies now offer usage-based insurance programs. These telematic programs use real-time data about your driving patterns to determine things like how safe and efficiently you drive. Both State Farm and Farm Bureau offer usage-based programs, called Drive Safe & Save and Driveology, respectively.

	State Farm Drive Safe & Save	Farm Bureau Driveology
Device	Mobile app or Connected Car feature on new Ford and Lincoln cars	Mobile app or windshield tag
Can it raise your rate?	No	No
Availability	Not available in CA, MA, RI	Varies by state
Discount	Up to 30 percent	10 percent automatic discount on sign-up and recalculated 91 days later
What it monitors	Miles driven, acceleration, braking, speed	Speed, distance, vehicle health, braking, accelerating, environmental impact

State Farm vs. Farm Bureau: customer experience comparison

Customer experience is a key metric when considering an insurance company. J.D. Power evaluates customer satisfaction in different insurance companies, compiling survey results in a report to show those that score the highest. Farm Bureau did not rank in the 2023 J.D. Power U.S. Auto Claims Satisfaction Study, but State Farm did and fared well above average. While Farm Bureau was included in the 2023 J.D. Power U.S. Auto Insurance Study, it only ranked in the Southeast region and Texas with varying scores depending on the bureau.

Both companies offer apps for iPhone and Android. However, the Farm Bureau app scores significantly lower based on customer ratings when comparing Farm Bureau vs. State Farm.

	State Farm	Farm Bureau
Apple store	4.8 of 5	1.8 of 5
Google play	4.6 of 5	2.3 of 5
J.D. Power claims satisfaction	891 / 1,000	N/A

Customer complaints

Understanding how a company handles customer complaints can be insightful when exploring insurance options. The National Association of Insurance Commissioners (NAIC) complaint index serves as a useful benchmark in this regard. This index is calculated by comparing a company's share of complaints to its share of the market. An index of 1.0 indicates the company has an average number of complaints for its size. Numbers lower than 1.0 suggest fewer complaints than average, while numbers higher than 1.0 may indicate more complaints than average. Essentially, this index offers a snapshot of a company's customer service quality relative to its size, helping you gauge potential customer satisfaction levels.

State Farm auto insurance customer complaints

State Farm's performance in terms of customer complaints is noteworthy, with its NAIC complaint index consistently falling below the 1.0 benchmark. This suggests that, relative to its size, State Farm tends to receive fewer customer complaints than the industry average. Such a trend might indicate a higher level of customer satisfaction and a positive experience with the company's services and support.

Farm Bureau auto insurance customer complaints

Farm Bureau's record on customer complaints, as reflected by the NAIC complaint index, is quite impressive. The indices over the past few years have been significantly lower than 1.0, which generally indicates far fewer complaints than what might be expected for an insurer of its size. This pattern suggests that Farm Bureau could be providing a satisfactory level of service and support to its policyholders, contributing to a positive customer experience.

Frequently asked questions

Both State Farm and Farm Bureau offer home insurance policies. State Farm has broader coverage areas since it is in more states, but policy options from both may vary by location.
In the United States, the average cost of car insurance is $2,278 per year for a full-coverage policy. However, you might pay more or less than the national average based on factors like your state, driving record, claims history and the amount of coverage you need.
The best car insurance company is unique to each driver, because providers vary in many aspects. Before you choose a car insurance carrier, spend some time shopping around and get multiple quotes to find the lowest rate.
When it comes to financial stability and the ability to pay claims, both State Farm and Farm Bureau are highly rated by AM Best, a recognized rating agency in the insurance industry. State Farm’s auto insurance has an A++ (Superior) rating, indicating a superior ability to meet its ongoing insurance obligations. Farm Bureau holds an A (Excellent) rating, also reflecting a strong ability to meet its financial commitments. While State Farm's rating is higher, both companies are well-regarded in terms of financial health, suggesting they are both reliable choices for paying claims. The best company for you might depend on other factors, including the types of coverage offered, customer service experience and overall value.
Determining if State Farm is better than Farm Bureau largely depends on your specific needs and circumstances. State Farm, with its wide range of coverage options and extensive agent network, might be a better fit if you're looking for comprehensive coverage and personalized service across the country. On the other hand, Farm Bureau could be more appealing if you value a more localized service experience and are located in one of the states where it operates, especially if you're connected to the agricultural community or can benefit from its membership perks. Ultimately, the better choice is the one that aligns most closely with your insurance needs, lifestyle and budget.

Methodology

Bankrate utilizes Quadrant Information Services to analyze the latest rates in July 2024 for ZIP codes and carriers in all 50 states and Washington, D.C. Rates include the most recent approved rate changes filed by insurance companies that affect our profile. These revised rates are then weighted based on the population density in each geographic region so that policyholders can see the impact rates have in their areas. 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 coverage that meets each state’s requirements. Our base profile drivers own a 2022 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-based insurance scores: 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. Four states prohibit or limit the use of credit as a rating factor in determining auto insurance rates: California, Hawaii, Massachusetts and Michigan.

Incidents: Rates were calculated by evaluating our base profile with the following incidents applied: clean record (base), at-fault accident, single speeding ticket and single DUI conviction.

Age: Rates were calculated by evaluating our base profile with the ages 25-70 (base: 40 years) applied. Depending on age, drivers may be a renter or homeowner. Age is not a contributing rating factor in Hawaii and Massachusetts due to state regulations.

Bankrate Scores

Our 2024 Bankrate Score considers variables our insurance editorial team determined impacts policyholders’ experiences with an insurance company. These rating factors include a robust assessment of each company’s product availability, financial strength ratings, online capabilities and customer and claims support accessibility. Each factor was added to a category, and these categories were weighted in a tiered approach to analyze how companies perform in key customer-impacting categories.

Each category was assigned a metric to determine performance, and the weighted sum adds up to a company’s total Bankrate Score — out of 5 points. Our scoring model provides a comprehensive view, indicating when companies excel across several key areas and highlighting where they fall short.

Overall Score

Cost & ratings 50%
Coverage & savings 30%
Support 20%

Tier 1 (Cost & ratings): To determine how well auto and home insurance companies satisfy these priorities, average quoted premiums from Quadrant Information Services (if available), as well as any of the latest third-party agency ratings from J.D. Power, AM Best, Demotech and the NAIC, were analyzed.
Tier 2 (Coverage & savings): We assessed companies’ coverage options and availability to help policyholders find a provider that balances cost with coverage. Additionally, we evaluated each company’s discount options listed on its website.
Tier 3 (Support): To encompass the many ways an auto insurance company can support policyholders, we analyzed avenues of customer accessibility along with community support. This analysis incorporated additional financial strength ratings from S&P and Moody’s and factored a company’s corporate sustainability efforts.

Tier scores are unweighted to show the company's true score in each category out of a possible five points.

Written by

Ashlyn Brooks