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

Quick Facts

• In general, Louisiana Farm Bureau offers slightly cheaper premiums than GEICO
• GEICO tends to be a much more affordable option for people who are single and purchasing auto insurance by yourself
• Louisiana Farm Bureau offers cheaper average rates for drivers with a DUI charge on their record

---

---

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

Are you in the market for a new insurance policy? You've probably seen commercials and billboards from companies offering big discounts, but exactly how much money can you save by switching?

You've maybe even narrowed it down to GEICO or Louisiana Farm Bureau, but which one has less expensive prices for car insurance?

Looking at the national average rates for both companies, Louisiana Farm Bureau is about $4 per month more affordable than GEICO.

Even so, that doesn't necessarily mean Louisiana Farm Bureau will be the less expensive option for every driver. After all, insurance carriers can offer drastically different rates to each driver depending on rating factors like your age, your driving record, where you call home, or even your credit score (among other things). So, at the end of the day, premiums from every company will differ quite a bit from person to person.

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

GEICO or Louisiana Farm Bureau: Average Car Insurance Rates by State

GEICO and Louisiana Farm Bureau only compete against each other in Louisiana, where Louisiana Farm Bureau offers the cheaper average prices. For Louisiana residents, Louisiana Farm Bureau offers auto insurance for $181 monthly on average. GEICO's average rates come out to be over 70% more expensive, at $888 a month.

But there's more to car insurance than just where you call home. As we mentioned above, there's a lot of things that go into how insurance companies calculate your premiums. Read on to find out more.

---

---

Which is the Best Company For Young Drivers?

Young drivers -- especially teens -- usually pay a lot for car insurance compared to older drivers. It's because young, inexperienced drivers are statistically much more likely to cause collisions and other accidents that will result in an insurance claim.

But that doesn't mean that teen drivers have to just accept sky-high auto insurance prices. As you can see above, teens who use Louisiana Farm Bureau save $35 a month compared to those who use GEICO. It's worth noting that GEICO offers insurance in 50 different states compared to Louisiana Farm Bureau's one, which can skew the average rates a bit, but the difference here is still considerable.

However, both carriers will lower premiums once you turn 25. For example, average rates for GEICO policyholders drop more than $200 and Louisiana Farm Bureau's prices decrease around $150 over that time.

Which is the Best Company for Retired Drivers?

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

So, which company offers the best rates to retired drivers? GEICO gets the slight edge here, with average premiums coming in at about $148 per month compared to Louisiana Farm Bureau's $153. That being said, that difference is less than 5%, which means it ultimately will come down to other factors, such as where you live or your driving record.

Which is the Best Company for Married Drivers?

Married policyholders tend to get slightly cheaper car insurance prices than single drivers. This usually boils down to married couples having more than one car on their policy -- something many insurance companies will reward with discounts.

When it comes to relationship status, GEICO is the winner for single policyholders, with rates around $0 per month more affordable than Louisiana Farm Bureau, on average.

GEICO vs. Louisiana Farm Bureau: Average Rates by Gender

Men normally pay more for auto insurance than women. This is because men are more likely to get tickets and get into collisions, which increases the chances of an insurance claim.

On average, women see premiums about 4% a month less with GEICO, while with Louisiana Farm Bureau, the difference is closer to 2% per month.

Looking at overall affordability, Louisiana Farm Bureau comes out on top for both men and women, with average rates $6 less for men and $2 cheaper for women.

---

---

GEICO or Louisiana Farm Bureau: 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.

For most people, insurance can be pretty complicated. Everyone needs car insurance, but there are so many different coverages and terms that it can be hard to find the right policy.

But most policies end up falling into two different types of coverage -- liability only (which provides property damage and bodily injury coverage for other drivers and their passengers if you cause an accident) and full coverage (which includes two additional coverages -- comprehensive and collision -- in addition to what you get with liability).

In this case, GEICO offers the lowest average prices for state minimum limits for liability insurance, while Louisiana Farm Bureau has the edge for full coverage policies with similar coverage limits. Drivers looking for basic state minimum coverage can save around $10 with GEICO, while full coverage comes out to be around $15 less expensive with Louisiana Farm Bureau Insurance.

Is GEICO or Louisiana Farm Bureau Better for Drivers with Spotty Records?

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

Tickets and at-fault accidents will most likely raise your premiums, but is GEICO or Louisiana Farm Bureau cheaper for drivers with spotty records?

Which Company is Best for Drivers with Speeding Tickets?

GEICO policyholders can expect their rates to go up an average of $35 a month if they get a ticket, while Louisiana Farm Bureau typically raises prices about $22 per month, on average.

That being said, GEICO is usually the more affordable option for both drivers who have clean records and those with a recent speeding ticket, offering premiums that are 24% and 13% cheaper, respectively, compared to Louisiana Farm Bureau Insurance.

Which Company is Best for Drivers After an Accident?

After an accident, drivers who have their insurance through GEICO can expect to see around an $85 -- or about 43% -- increase in their car insurance rates. Drivers who use Louisiana Farm Bureau for their auto insurance will see a monthly bill around $43 (or 22%) more expensive after reporting a collision to their car insurance carrier.

Overall, Louisiana Farm Bureau offers the cheapest prices for drivers with an at-fault accident on their records, with monthly premiums averaging $194 compared to GEICO's $200.

Which Company is Best for Drivers with a DUI?

If you get a DUI charge on your record, it's probably going to cost you more than a simple ticket or even an accident. On average, GEICO will climb your rates about 58% after a DUI, while Louisiana Farm Bureau's average prices increase by over 25%.

Louisiana Farm Bureau has the overall most affordable premiums for drivers with a DUI on their records at $205 monthly, but it's worth noting that GEICO's average rates come from 50 states compared to just one for Louisiana Farm Bureau, so the data may be skewed slightly.

---

---

How does Credit Score Impact GEICO and Louisiana Farm Bureau Rates?

Did you know that many insurance carriers take your credit score into account when calculating prices? Certain states and companies do not allow for credit score to be used as a rating factor, but it will come into play for lots of policyholders.

The reasoning auto insurance carriers use is that drivers with bad credit will be less likely to pay their bills on time; so normally, they'll be asked to pay more, while those with good credit will be rewarded with less expensive premiums.

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

Which Company is Best for Drivers with Good Credit?

If you have solid credit, you'll usually find a better deal with Louisiana Farm Bureau. Drivers with "excellent" credit can save 6% compared to GEICO, and those with "good" scores can also expect to see savings -- around $10 or 6% more affordable each month.

Which Company is Best for Drivers with Bad Credit?

If you have less-than-stellar credit, it can be somewhat of a toss-up as far as which company offers you the best prices. Drivers with "fair" credit pay about $16 less with Louisiana Farm Bureau than GEICO, but those whose credit is considered "poor" have it flipped -- saving around $12 a month with GEICO.

---

---

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

How much you drive can have a sizable impact on your monthly premiums. That's because the fewer miles you put on your vehicle, the less likely you are to get into a collision and cause an insurance claim.

As you can see in the table above, annual mileage doesn't have much of an impact on how much Louisiana Farm Bureau charges. However, there's a small difference in monthly rates for GEICO, with drivers who put 6,000 miles on their car annually paying about $8 less every month compared to those who drive 12,000 miles yearly.

GEICO vs. Louisiana Farm Bureau: 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 car insurance, but the type of area you live in can have a pretty big impact as well. Generally, if you live in an urban area with more cars on the road, you'll pay a little more for insurance, while the opposite is true for people in rural areas.

Looking at these companies side-by-side, Louisiana Farm Bureau tends to offer the most affordable option for drivers in urban and suburban areas, while GEICO wins in rural areas.

In urban areas, Louisiana Farm Bureau Insurance's average premiums are around $20 less than GEICO. Drivers in suburban ZIP codes pay about $3 less with Louisiana Farm Bureau compared to GEICO. If you live in a rural area, you can expect to save around $11 with GEICO compared to Louisiana Farm Bureau.

GEICO vs. Louisiana Farm Bureau Discounts

Regardless of why you might be in the market for a new auto 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 car insurance discounts as you can.

The challenging part is finding all of the discounts you're eligible for, since it can feel sometimes like every carrier has different discounts and each one is advertised differently.

In the section below, we've taken a look at all of the different discounts GEICO and Louisiana Farm Bureau offer their customers so that you can see which carrier can save you the most money each month.

GEICO blows Louisiana Farm Bureau away when it comes to the sheer amount of discounts available, offering 23 more discounts than Louisiana Farm Bureau.

A couple of those are overlapping for things like discounts for being a defensive driver, discounts for being a good student, and military discounts. GEICO also offers ABS discounts, anti-theft discounts, commercial drivers license discounts, and more that Louisiana Farm Bureau does not.

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

---

---

Final Thoughts: Is GEICO or Louisiana Farm Bureau Best for You?

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

Louisiana Farm Bureau might be best for you if....

• You want to save money on your auto insurance after an accident.
• Your home is in a busy urban area.
• You're married and plan to have both of your names on the vehicle's car insurance policy.

GEICO might be best for you if...

• You're single and purchasing insurance by yourself.
• You've received a ticket for speeding recently and don't want to see your rates climb.
• Your neighborhood is in a rural area.

We hope this guide helps you get a better idea of the difference between GEICO and Louisiana Farm Bureau. We also hope we've given you the information you need to make the best decision when it comes to your auto insurance.

But, at the end of the day, there's only one way to know for sure that you're getting the best possible deal on insurance -- comparing quotes from several carriers, not just GEICO and Louisiana Farm Bureau. Luckily, sites like Compare.com make it easy for you to do just that. Simply enter your ZIP codes below and get free quotes from dozens of top auto insurance companies in your area, all in just a few minutes.

---

---

GEICO vs. Louisiana Farm Bureau FAQs

Is GEICO or Louisiana Farm Bureau cheaper?

Looking just at the national average premiums, Louisiana Farm Bureau is the cheaper of the two carriers, offering average rates of $181 per month compared to $185 for GEICO. However, Louisiana Farm Bureau won't necessarily be the lowest company for everyone, since there are several different factors that come into play when it comes to your car insurance cost.

Who is better, GEICO or Louisiana Farm Bureau?

Sadly, the real answer is "it depends.". Neither carrier is "better" for each driver -- it all comes down to what your unique insurance profile looks like. For example, Louisiana Farm Bureau offers less expensive rates for policyholders with an at-fault collision on their record, while GEICO is more affordable for drivers who have less-than-stellar credit scores.

Why do GEICO and Louisiana Farm Bureau offer me different rates?

Auto insurance companies take a look at several different variables when determining the prices they charge drivers. Factors such as age, gender, your driving record, where you park your vehicle, and sometimes even things like your credit score can all be used. Both GEICO and Louisiana Farm Bureau calculate premiums using different formulas, so each one will most likely offer different prices. The only real way to see which company is the cheapest for you is by comparing personalized quotes from a range of different carriers.

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

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

---

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.