Texas Farm Bureau insurance review 2024
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At a glance
Bankrate's take
Policyholders in Texas looking for top-notch customer service or who prefer an in-person agency experience might consider Texas Farm Bureau as their company of choice. Customers should note that the carrier comes with an annual membership fee, although it provides additional perks.
- Agents available at brick-and-mortar locations
- Policies are only available in Texas
- Offers death indemnity coverage
- High ranking in 2023 U.S. Auto Insurance Study
- Offers home, renters and landlord policies
- Offers juvenile life insurance policies
New
AM Best has placed the company under review with negative implications due to a decrease in its surplus. Existing or future policyholders may want to monitor the situation to ensure the company maintains a strong financial outlook.
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Texas Farm Bureau car insurance review
Texas Farm Bureau has offered insurance products to Texans since 1952. Now headquartered in Waco, Texas, the carrier has grown to include more than 850 local agents, 300 claims personnel and 300 offices across the Lone Star 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 where 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.
Pros
- Earned third place for overall customer satisfaction in Texas in the J.D. Power 2023 U.S. Auto Insurance Study
- Plentiful offices located across Texas
- Rideshare and death benefit coverage options available
Cons
- No gap insurance available
- Accident forgiveness is not available
- Customer service is only open Monday through Friday during normal business hours
Texas Farm Bureau car insurance cost
Bankrate analyzed proprietary premium data from Quadrant Information Services, and according to our research, the national average cost of car insurance is $2,278 per year for a full coverage policy and $621 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 information.
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 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; however, given its availability, J.D. Power only rates Texas Farm Bureau in its surveys that break down satisfaction by region and not in national studies.
The company does have an excellent financial strength rating with AM Best, however, which indicates it has met its claims obligations in the past. As we mentioned earlier in this article, though, that rating is currently under review, so current future policyholders may want to keep an eye on its status to see if AM Best changes its rating.
Texas Farm Bureau auto claims satisfaction
Auto customer satisfaction is where Texas Farm Bureau truly shines. The company scored first place with a strong 824 points out of 1,000 for overall customer satisfaction in the Texas region during the J.D. Power 2023 U.S. Auto Insurance Study. It is not rated in the claims satisfaction survey because of its small service area. It has historically performed well in the J.D. Power Auto Insurance Study, however, indicating that its customers are generally happy with the service it provides.
Texas Farm Bureau auto insurance customer complaints
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, while an index lower than 1.00 indicates fewer complaints than average.
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:
- Multi-vehicle discount: If you insure more than one vehicle with Texas Farm Bureau, you could qualify for additional savings.
- Vehicle safety discount: This discount may apply for drivers with vehicles equipped with safety features, such as curtain airbags and an anti-theft system.
- Claims-free discount: If you maintain a claims-free record for a certain number of years, you may earn a discount for good driving.
For more information regarding discount eligibility and savings amounts, please contact a Texas Farm Bureau agent.
Texas Farm Bureau home insurance review
According to our analysis, Texas Farm Bureau could be best for Texans looking for one of the average cheapest homeowners insurance companies 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 home 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.
Pros
- High customer satisfaction, according to the National Association of Insurance Commissioners (NAIC) Complaint Index
- Local agents available
- Average home insurance rates tend to be far lower than state and national averages
Cons
- Must contact an agent for a quote
- Very little information about home insurance product can be found online
- Not rated by J.D. Power
Texas Farm Bureau home insurance cost
Bankrate took a deep dive into the cost of homeowners insurance for 2024 and based on our research, the national average rate for $300,000 in dwelling coverage is $2,230 per year. On the other hand, Texas Farm Bureau comes in at an average of t $3,620 per year. While Texas Farm Bureau is 62 percent more than the national average, it is 3 percent less than the average in Texas. Since Texas Farm Bureau is only available in Texas, it may be a solid and cost-effective option for many Texas policyholders.
It's important to note that your actual homeowners insurance premium will vary based on your rating factors, such as your home's age, location and your claims history.
| Dwelling coverage limit | Texas Farm Bureau average premium | National average premium |
|---|---|---|
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$150K dwelling
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Texas Farm Bureau average premium
$2,245
|
National average premium
$1,354
|
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$300K dwelling
|
Texas Farm Bureau average premium
$3,620
|
National average premium
$2,230
|
|
$350K dwelling
|
Texas Farm Bureau average premium
$3,974
|
National average premium
$2,490
|
|
$450K dwelling
|
Texas Farm Bureau average premium
$4,541
|
National average premium
$3,020
|
|
$750K dwelling
|
Texas Farm Bureau average premium
$5,690
|
National average premium
$4,451
|
Compare Texas Farm Bureau homeowners insurance rates
Home insurance rates vary significantly between carriers, even within the same state. Each insurance company has its own underwriting guidelines, risk tolerance level and coverage options and discounts. These variables mean that not one carrier is perfect for every homeowner and comparing premiums, coverage types and discounts amongst multiple companies can help you secure the best home insurance for your needs.
| Company | Avg. annual premium | Difference compared to national average |
|---|---|---|
|
$3,620
|
+ $1,390 |
|
|
$1,854
|
- $376 |
|
|
$1,959
|
- $271 |
|
|
$1,452
|
- $778 |
|
|
$2,325
|
+ $95 |
|
|
$1,681
|
- $549 |
|
|
$3,521
|
+ $1,291 |
|
|
$1,594
|
- $636 |
|
|
Progressive
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$2,369
|
+ $139 |
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$1,827
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- $403 |
Texas Farm Bureau customer satisfaction
Understanding how other policyholders feel about their insurance company can help you decide which carrier suits you best. J.D. Power did not rate Texas Farm Bureau since it is a regional carrier and the study is geared toward insurers with national availability. This does not reflect the quality of service that Texas Farm Bureau provides.
Texas Farm Bureau home insurance customer complaints
Texas Farm Bureau scores well below the industry average. This low index score may indicate that the company’s homeowners insurance customers are generally satisfied with their experience.
Texas Farm Bureau home insurance discounts
Like its auto insurance, Texas Farm Bureau does not disclose all the specifics of its home insurance discounts. To learn about all the ways that you may save on your Texas Farm Bureau home insurance policy, please contact an agent. However, a few discounts available for a Texas Farm Bureau home insurance policy include:
- Central alarm system discount: If your property is protected by a burglar or central alarm system, you may qualify for additional savings.
- Impact-resistant roofing discount: If your roof is designed to resist damage from elements such as hail, it could save you money on insurance premiums.
- Dry fire hydrants discount: You may earn a discount if you keep a dry fire hydrant or fire extinguisher on your property.
- Companion policy discount: If you have more than one qualifying policy with Farm Bureau, you could earn a discount.
Texas Farm Bureau life insurance review
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 and convert before the policy’s stated deadlines.
- 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.
Pros
- Multiple policy types offered
- Term to whole life conversion available
- Policyholders are able to make payments online
Cons
- Unknown if medical exams are required
- Life insurance riders are mentioned, but no specifics are provided
- Life insurance quotes are not available online
Compare life insurance providers quickly and easily
See which provider is right for you.
Whole life insurance combines life insurance with an investment component.
- Coverage for life
- Tax-deferred savings benefit if premiums are paid
- 3 variations of permanent insurance: whole life, universal life and variable life include investment component
Term life insurance is precisely what the name implies: an insurance policy that is good for a specific term of time.
- Fixed premium over term
- No savings benefits
- Outliving policy or policy cancellation results in no money back
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Compare Texas Farm Bureau to other insurers
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.
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Featured
Texas Farm Bureau
Not scored
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
|
Amica
4.6
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 4.4Coverage 5.0Support 4.4 |
Liberty Mutual
3.8
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 2.6Coverage 5.0Support 3.9 |
|---|---|---|
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OVERVIEW
Bankrate identified key carrier features, coverage offerings, discounts and more
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Texans who want personalized service may appreciate Texas Farm Bureau’s insurance coverage. However, those who live outside Texas, or who don’t want to pay an annual membership fee before buying insurance may want to consider other insurers.
Read More
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Policyholders who value excellent customer service and robust coverage options but don’t mind paying more for homeowners insurance, might consider Amica as their company of choice.
Read More
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Policyholders who value digital capabilities and robust discounts over customer and claims satisfaction might consider Liberty Mutual as their company of choice.
Read More
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STANDOUT FEATURES
These features are some of the carrier’s most impressive
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Offers rideshare insurance
Lower than average insurance
Local agents
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Stolen key expense coverage
Numerous home and auto discounts
Offers umbrella insurance
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Local agencies available
Offers a military discount
Sells multiple insurance products
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AVG FULL COV. AUTO RATE
Average national annual cost of a full coverage auto insurance policy
|
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| No rates available | $2,860 | No rates available |
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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
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| Not Scored |
909/1000 |
870/1000 |
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AVG HOME RATE
Average national annual cost of a home insurance policy with $300K in dwelling coverage
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| $3,620 |
$1,863 |
No rates available |
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J.D. POWER HOME SCORE
J.D. Power’s Property Claims Satisfaction Study assesses customer satisfaction with the claims experience on a 1,000-point scale
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| Not Scored |
844/1000 |
789/1000 |
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AM BEST RATING
AM Best ratings assess companies’ financial strength based on historical ability to pay out claims, among other financial obligations
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| Not Scored |
A+(Superior) |
A(Excellent) |
Why you can trust Bankrate
Read our full methodologyOur insurance editorial team includes licensed agents with decades of combined experience, and we used our intimate knowledge of the industry to conduct this in-depth Texas Farm Bureau insurance review.
46
years of industry expertise
122
carriers reviewed
34.5K
ZIP codes examined
1.2M
quotes analyzed
Is the Texas Farm Bureau a good insurance company?
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 average 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 the Texas Farm Bureau could meet your needs, the best course of action may be to call an agent and request a quote.
What are real-life customers saying about the Texas Farm Bureau?
Reading customer reviews is one way to better understand the customer experience with the Texas Farm Bureau. Review sites and online forums such as Reddit and Yelp offer a space for customers to share their experiences and for other users to add comments. Keep in mind that since Texas Farm Bureau has local agents, some reviews may be about the company in general or a specific agent. Additionally, since Texas Farm Bureau is a super-regional carrier, there isn’t a plethora of reviews to read.
The Texas Farm Bureau reviews on Reddit tend to be older but focus on how affordable of a carrier it is compared to other insurance companies. One older comment, which we will include below, highlights a situation unique to the Texas Farm Bureau. This carrier may report insurance information differently than other carriers, which could be problematic when it's time to find a different company.
Yelp
There are several threads on Yelp for different Texas Farm Bureau agencies but again, most of the reviews are more than a year old. The common theme on Yelp is that policyholders are unhappy with the rising costs, customer service and claims service they receive and miscommunication about coverage is mentioned a few times. This highlights how important it is to feel comfortable with the company and the local agent since they are who you will interact with the most.
*The quotes and citations included on this page have been verified by our editorial team and are accurate as of the posting date. Outlinked content may contain views and opinions that do not reflect the views and opinions of Bankrate.
Texas Farm Bureau company details
If you are considering joining Texas Farm Bureau and need to inquire about quotes or policy details, here is some pertinent contact information:
- Customer service: 1-800-772-6535
- Claims: 1-800-266-5458
- Roadside assistance: 1-833-832-7623
- Website: txfb-ins.com
- Payment mailing address:
- Texas Farm Bureau Insurance Companies
P.O. Box 660755
Dallas, TX 75266-0755
- Texas Farm Bureau Insurance Companies
- Availability: Texas Farm Bureau only offers insurance in the state of Texas, though other Farm Bureau companies offer coverage in other states.
State availability
Texas Farm Bureau only offers insurance in the state of Texas, though other Farm Bureau companies offer coverage in other states.
Texas Farm Bureau tools and benefits
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.
- Long-term care insurance: This coverage can help cover the expenses of long-term stays in a nursing home.
Membership in the Texas Farm Bureau also conveys a variety of other perks, such as access to auto loans, discounts on defensive driving courses, the option to refinance your home loan through the bureau and discounts on Sherwin Williams equipment.
Frequently asked questions about Texas Farm Bureau
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.
Auto
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.
Age: Rates were calculated by evaluating our base profile with the ages 16-60 (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.
The rates for drivers ages 16-20 added to their parents' policy reflect the good student and driver's training discounts applied. The rates for drivers aged 16-20 on their own policy do not include the good student and driver's training discounts. Additionally, 25-year-old rates are based on the driver as a renter and 30+ on the driver as a homeowner.
Incidents: Rates were calculated by evaluating our base profile with the following incidents applied: clean record (base), single speeding ticket and single at-fault accident.
Homeowners
Quoted rates are based on 40-year-old male and female homeowners with a clean claim history, good credit and the following coverage limits:
- Coverage A, Dwelling: $150,000, $300,000, $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.
