Choosing an auto insurance company is sometimes difficult: companies' rates vary based on your driving history, age, and location, and insurers offer a variety of perks. Farm Bureau Mutual and GEICO are two of the nation's most popular car insurance companies, providing high-quality policies across many states.
In an effort to make insurance shopping seamless, we have gathered average policy rates from GEICO and Farm Bureau Mutual. These take into consideration a variety of rating factors, including credit quality, driving history, and age. Examine these figures and find the perfect policy for you.
If you have extremely bad credit, Farm Bureau Mutual could be a better option for you. On average, Farm Bureau Mutual offers cheaper premiums than GEICO for drivers with credit scores of 579 or less. Drivers with outstanding credit — a score of 800 or better — should favor Farm Bureau Mutual, which typically beats GEICO by $201 per year. Check out common insurance rates by credit score for GEICO and Farm Bureau Mutual:
| Credit level | Farm Bureau Mutual avg. annual premium | GEICO avg. annual premium |
| Very Poor (300-579) | $1,780 | $2,051 |
| Fair (580-669) | $1,126 | $1,358 |
| Good (670-739) | $1,193 | $1,485 |
| Very Good (740-799) | $932 | $1,120 |
| Exceptional (800-850) | $863 | $1,064 |
If you have an at-fault collision, speeding ticket, reckless driving citation, or DWI in your recent history, Farm Bureau Mutual could be a better choice than GEICO. Every insurer prices its policies differently, so it's worth comparing quotes to understand which insurer is best for you.
| Violation | Farm Bureau Mutual avg. annual premium | GEICO avg. annual premium |
| At-fault accident (damage < $1,000) | $1,224 | $1,857 |
| At-fault accident (damage > $1,000) | $1,294 | $1,580 |
| DUI/DWI | $1,850 | $2,550 |
| Reckless driving | $1,546 | $2,238 |
| Speeding ticket | $1,025 | $1,395 |
Car insurance companies use age to outline potential risk, assigning rates on a sliding scale. Car insurance is often expensive for young drivers — because of their inexperience — and more affordable for older drivers. Because each insurance company prices ages differently, it's a smart move to shop around.
As a general rule, teen drivers should choose Farm Bureau Mutual over GEICO: Farm Bureau Mutual offers average yearly savings of $741 versusGEICO.
| Age bracket | Farm Bureau Mutual avg. annual premium | GEICO avg. annual premium |
| Teens | $2,767 | $3,508 |
| 20s | $1,545 | $1,438 |
| 30s | $984 | $1,438 |
| 40s | $961 | $1,189 |
| 50s | $866 | $1,160 |
| 60s | $870 | $1,065 |
Aside from finances, Farm Bureau Mutual and GEICO each have pros and cons, including the insurers' discount programs, add-ons, customer satisfaction ratings, and financial stability. Be sure to weigh these elements before deciding.
| Discount Comparison | Farm Bureau Mutual | GEICO |
|---|---|---|
| Good Student | ||
| Multiple Policies | ||
| Multiple Vehicles | ||
| Anti-Theft Device(s) | ||
| Anti-Lock Brake System | ||
| Air Bags | ||
| Good Driver | ||
| Defensive Driver | ||
| Student Away at School | ||
| Driver Training | ||
| Green Vehicles | ||
| Affinity Membership Alum | ||
| Advanced Purchase | ||
| Pay in Full | ||
| Home Owner | ||
| eSign or ePay | ||
| Telematics | ||
| New Vehicle | ||
| Annual Mileage | ||
| Military |
| Ratings Comparison | Farm Bureau Mutual | GEICO |
|---|---|---|
| Financial Strength | Excellent | Superior |
| JD Power Rankings | Not Rated | |
| User Satisfaction | A | N/A |
| Other Products | Farm Bureau Mutual | GEICO |
|---|---|---|
| Boat Insurance | ||
| Condo Insurance | ||
| Life Insurance | ||
| Homeowners Insurance | ||
| Travel Trailer Insurance | ||
| Renters Insurance | ||
| RV Insurance | ||
| Motorcycle Insurance | ||
| Mobile Home Insurance |
| Other Features | Farm Bureau Mutual | GEICO |
|---|---|---|
| About | Farm Bureau Mutual of Iowa focuses on building trusted relationships and helping you protect what matters most, so they can help you find the right products at the right time as you work to achieve your goals. | GEICO uses a direct-to-consumer sales model rather than relying on independent agents to provide exceptional service and superior coverage to their valued customers. |
| Roadside Assistance | Farm Bureau Mutual offers 24/7 roadside assistance to members at no added expense. The company's Emergency Roadside Assistance coverage includes up to $100 for emergency service nationwide. | You can use a mobile app to request service from GEICO's Emergency Roadside Service, which will assist you if you need a tow, are locked out of your car, run out of gas, have a dead battery or flat tire. |
| Additional Discounts | None Available | GEICO offers an additional discount for vehicles with daytime running lights as well as discounts for federal employees. Moreover, the company offers the policy feature of accident forgiveness. |
| Recent Questions | I made two claims last year. Should I file a third? If you're filing a claim to fix the damages caused to the fence, you should go ahead and get your vehicle fixed as well; events that go on your insurance history will mark all the payouts as coming from the same claim. However, having three recent claims will likely result in your rate increasing, so consider shopping around for cheaper insurance elsewhere. Will comprehensive insurance cover damages caused by road debris?Sorry to hear about your accident. If you have comprehensive, it should cover any damages caused by debris. Which insurance companies will insure a driver without a license?You may check with Geico to see if they will take an unlicensed driver. However, in my experience, they will not. Should I stay with my car insurance company even if I'm getting a better quote from elsewhere?It's possible that your agent is simply trying to keep your business. However, he may actually be correct. See More Questions | |
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