Farm Bureau vs. Progressive: Which Company is the Best Fit for You?

Quick Facts

• In general, Progressive offers significantly less expensive prices than Farm Bureau
• Progressive has cheaper rates for policyholders who may not have much of a commute
• Progressive offers more affordable average prices for policyholders who drive fewer than 12,000 miles yearly

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Farm Bureau vs. Progressive: Which Company has the Cheapest Car Insurance?

Are you in the market for a new insurance policy? With so many ads from all sorts of companies offering large discounts, you're probably wondering exactly how much you might be able to save.

You've maybe even narrowed it down to Farm Bureau or Progressive, but between the two, which one will save you the most?

Looking at the national average rates for both companies, Farm Bureau has average rates that are about 50% per month more expensive than those from Progressive.

But that doesn't necessarily mean Progressive will be the less expensive option for every single driver. After all, car insurance carriers can offer drastically different rates to each driver depending on rating factors like your credit score, your driving record, your age, or even where you call home (among other things), so rates will differ quite a bit from person to person.

Wanting to know if Farm Bureau or Progressive is really the right carrier for you? Keep on reading to see how average premiums can change based on all of the factors we've mentioned above.

Farm Bureau or Progressive: Average Car Insurance Rates by State

Farm Bureau and Progressive only compete against each other in Michigan, where Progressive offers the cheaper average rates. For Michigan residents, Progressive offers insurance for $217 monthly on average. Farm Bureau's average prices come out to be over 50% more expensive, at $343 per month.

But there's more to car insurance than just your home state. As we mentioned above, there's a lot of things that go into how auto insurance companies calculate your premiums. Keep reading to find out more.

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Which is the Best Company For Young Drivers?

You might already know that teen drivers normally pay a lot more for car insurance than any group on the road. Generally, that's because young, inexperienced drivers are statistically much more likely to get into accidents since they have less experience on the roads.

But still, even with seemingly sky-high rates, teen drivers can still find ways to save money. Just look at the table above -- where 18-year-old drivers who have Progressive for their insurance pay nearly $35 less than those who use Farm Bureau.

Even so, both carriers will lower prices by the time drivers turn 25. Progressive offers the steepest decrease, with 25-year-olds paying less than a third of what 18-year-old drivers are charged. Farm Bureau's average premiums decrease almost 25% during that same period.

Which is the Best Company for Retired Drivers?

Once you approach retirement age, you'll usually enjoy the most affordable auto insurance prices you'll ever find. You've been on the road for years, and all that experience pays off when it comes to your monthly rates for car insurance.

But who has the best premiums for retired drivers between Farm Bureau and Progressive? Progressive gets the edge, with prices for drivers 65 and older nearly 55% cheaper than the national average for Farm Bureau.

Which is the Best Company for Married Drivers?

You may not be aware, but insurance rates tend to be more affordable for married policyholders than they are for those who are single. That's typically because married drivers tend to own and insure more than one car, which can often earn you a discount.

When it comes to relationship status, Progressive is the clear winner for single policyholders, with premiums around $140 a month less expensive than Farm Bureau, on average. The advantage is also clear for married couples - Progressive offers the cheapest average prices.

Farm Bureau vs. Progressive: Average Rates by Gender

Men are statistically more likely than women to cause a collision and get into accidents, which means they'll normally end up paying more for auto insurance than women.

With Farm Bureau, everyone ends up paying the same monthly rates regardless of gender, while with Progressive, the difference is closer to 3% per month.

When it comes to the lowest premiums for each gender, Progressive comes out as the most affordable option for both genders, with average prices 47% less for men and 48% cheaper for women.

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Farm Bureau or Progressive: Compare State Minimum vs. Full Coverage Rates

*State minimum value indicates liability-only policies at each state's minimum bodily injury and property damage (BI/PD) limits

**Full coverage indicates state minimum BI/PD limits with collision and comprehensive coverages added to policy.

It's no secret that insurance can be pretty complicated. There are a bunch of different coverages that account for a range of different things. Some protect you and your vehicle, while others only provide coverage for other people's property and health if you cause an accident.

The two most common policies that many drivers look at fall into two categories -- liability only (which covers the other party's property damage and injuries if you cause a collision) and full coverage (which includes two additional coverages -- comprehensive and collision -- alongside liability).

If you're looking for state minimum limits for liability insurance, Progressive generally offers significantly cheaper rates of $111 compared to Farm Bureau's $218. When it comes to full coverage policies with similar limits, Progressive again has the edge, with policies about $200 a month more affordable than Farm Bureau, on average.

Is Farm Bureau or Progressive Better for Drivers with Spotty Records?

It's no big secret that drivers who are accident-free get better deals on their car insurance. But even if you have a spotty record, you can still find plenty of ways to save some cash on your monthly bill.

At-fault accidents and tickets will most likely raise your premiums, but is Farm Bureau or Progressive less expensive for drivers with less-than-ideal driving records?

Which Company is Best for Drivers with Speeding Tickets?

Farm Bureau policyholders can expect their prices to go up an average of $94 per month if they get a ticket, while Progressive typically raises rates around $31 a month, on average.

However, Progressive has cheaper premiums for drivers in both categories, offering prices that are 26% and 39% more affordable, respectively, compared to Farm Bureau Insurance of Michigan.

Which Company is Best for Drivers After an Accident?

Both companies will increase rates pretty significantly if you get into an at-fault accident with Progressive increasing by $65. Farm Bureau has a less extreme climb, but you can still expect to pay over $30 more than you were prior to your first collision.

Overall, Progressive offers the cheapest premiums for drivers with an at-fault accident on their records, with monthly prices averaging $214 compared to Farm Bureau Insurance of Michigan's $233.

Which Company is Best for Drivers with a DUI?

On average, a DUI offense is going to cost you much more than a single collision or speeding ticket when it comes to your auto insurance bill. On average, Farm Bureau will increase your premiums about 68% after a DUI, while Progressive's average rates increase by over 15%.

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How does Credit Score Impact Farm Bureau and Progressive Rates?

Did you know that many insurance carriers take your credit score into account when calculating premiums? Certain states and companies do not allow for credit score to be used as a rating factor, but it might come into play for quite a few drivers.

Car insurance carriers argue that those with poor credit scores are less likely to pay their bills on time every month, which increases the risk involved on their end, while the opposite is true for those with good credit.

Looking specifically at Progressive and Farm Bureau, which company has the lowest rates for policyholders at different credit levels?

Which Company is Best for Drivers with Good Credit?

Which Company is Best for Drivers with Bad Credit?

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Is Farm Bureau or Progressive Better for Drivers who Work from Home or Have Short Commutes?

How much you drive can have a pretty big impact on your monthly prices. Usually, those who drive less will end up with less expensive premiums since there's less of a chance of getting into an accident and causing an insurance claim.

As you can see in the table above, annual mileage doesn't have much of an impact on how much Progressive charges. However, there's a small difference in monthly prices for Farm Bureau, with policyholders who drive the least paying around $22 less each month compared to those who drive 12,000 miles annually. Still, Progressive is the more affordable option for drivers in both categories.

Farm Bureau vs. Progressive: Compare Rates for Urban, Suburban, and Rural Drivers

We've already mentioned how your home state can play a role in how much you pay for auto insurance, but the type of area you live in can have a big impact as well. Generally, if you live in a rural area with fewer cars on the road, you'll pay a little less for insurance, while the opposite is true for people in urban areas.

Progressive tends to offer the cheapest rates for drivers in all areas, regardless of if they're urban, suburban, or rural.

For drivers in urban ZIP codes, Progressive offers premiums about $207 a month compared to Farm Bureau's $457. People who live in suburban ZIP codes can expect to pay around $179 per month for Progressive and $349 for Farm Bureau. Lastly, those in rural areas tend to get the lowest rates from both companies, with average monthly prices coming in at $154 and $223 for Progressive and Farm Bureau respectively.

Farm Bureau vs. Progressive Discounts

Regardless of why you might be in the market for a new car insurance policy, you're always going to want to save as much money as possible, and the best way to do that is by taking advantage of as many auto insurance discounts as you can.

But where do you even start? With what seems like a million different discounts out there, it may be challenging to find all the ones you qualify for.

In the section below, we've compared all of the different discounts offered by Farm Bureau and Progressive so that you can see which carrier can save you the most money each month.

Progressive blows Farm Bureau away when it comes to the sheer amount of discounts available, offering 34 different discounts to Farm Bureau's five.

A couple of those are overlapping for things like advance quote discounts, group discounts, and multi-policy discounts. Progressive also offers ABS discounts, advanced safety feature discounts, agency transfer discounts, and more that Farm Bureau does not.

On the flip side, Farm Bureau has a unique discount of its own -- a term discounts.

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Final Thoughts: Is Farm Bureau or Progressive Best for You?

So, you've seen how different factors can affect your insurance premiums. We've shown you all the discounts each carrier offers, too. That's all well and good, but at the end of the day, which insurance company is the right one for you and your specific driver profile?

Progressive might be best for you if....

• You're single and purchasing car insurance by yourself.
• You have below-average credit.
• You're married and plan to have both of your names on the vehicle's auto insurance policy.

Farm Bureau might be best for you if...

• You have a more unique driver profile than those we mentioned above.

We hope this guide has ben a valuable resource as you compare Farm Bureau and Progressive. We also hope we've given you the information you need to make the best decision about your insurance.

At the end of the day, the sure-fire way to make sure you're getting the best deal on your car insurance policy is to compare quotes from a handful of carriers, not just Farm Bureau and Progressive. Luckily, sites like Compare.com do all the hard work for you. Just enter your ZIP code below and get free quotes from dozens of top auto insurance companies in your area, all in just a few minutes.

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Farm Bureau vs. Progressive FAQs

Is Farm Bureau or Progressive cheaper?

Looking just at the national average rates, Progressive is the cheaper of the two carriers, offering average rates of $180 a month compared to $343 for Farm Bureau. That being said, Progressive won't necessarily be the most affordable carrier for every driver, since there are many different variables that come into play when it comes to your insurance cost.

Who is better, Farm Bureau or Progressive?

Unfortunately, the real answer is "it depends.". Neither company is necessarily "better" for each driver -- it all depends on what your unique car insurance profile looks like.

Why do Farm Bureau and Progressive offer me different rates?

Auto insurance companies take a look at lots of different factors when determining the prices they charge policyholders. Variables such as gender, your driving record, age, where you live, and sometimes even things like your credit score can all be used. Both Farm Bureau and Progressive use different formulas, so each one will most likely offer different premiums. The only real way to see which carrier is the cheapest for you is by comparing personalized quotes from a variety of different carriers.

How do I know if Farm Bureau or Progressive is right for me?

The only way to find the insurance company that's right for you is by getting quotes from several companies and finding the one best suited for your individual budget. Luckily, sites like Compare.com make it easy for you to do just that. Just enter your information once and you'll get free quotes from dozens of the best auto insurance carriers in your area. With those, you can guarantee you're getting the best price. And who knows, the best carrier for you might not be Farm Bureau or Progressive at all!

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Methodology

All of the data referenced in this article has been gathered in collaboration with Quadrant Information Services. We analyzed more than 2.5 million rows of carrier-reported data to calculate the average rates referenced above. All rates are based on an insurance profile of a single-vehicle policy for a driver that owns a 2016 Honda Accord. For more information on how we calculate rates, please reference our data methodology.