Farm Bureau Insurance Review: Car, Home, and Life

Iowa Farm Mutual Insurance Company was established in Des Moines, Iowa, in 1939. The company initially sold insurance for farmers and liability. The company grew rapidly and opened new offices in other states. It expanded its insurance product range to include coverages for cars and homes as well as life, business, and health. Farm Bureau Financial Services is now the name of the company. It has 4,000 agents across Arizona, Iowa and Kansas.

Farm Bureau Insurance is well-known for their superior home and car insurance products. You can also get protection for your farm, business, and recreational vehicles. There are 16 regional claims centres in Tennessee, and more than 350 claims professionals available to assist you when you need it. Farm Bureau Insurance is a top choice for all your insurance needs because of its exceptional coverage and outstanding customer service.

Farm Bureau Car Insurance

Farm Bureau provides a variety of auto insurance coverages for a wide range vehicles. You can choose from coverage options for an SUV, minivan or farm truck.

Optional Coverage

  • Liability insurance covers the costs of repairing or replacing another person’s vehicle or property if you are responsible for an accident. While liability coverage covers the injuries of others, it does not cover the insured.
  • Comprehensive coverage for any theft or damage to your vehicle that is not caused by an accident
  • No-fault and medical coverages that pay for your medical expenses after an accident, regardless if you were at fault.
  • Uninsured/underinsured coverage that covers you and your passengers in the event of an accident involving an uninsured/underinsured driver.

Cost of Farm Bureau Insurance

The cost of auto insurance coverage is dependent on many factors. These include your choice of coverage level and whether you add any options to your policy. Based on data from Quadrant information service, the national average price for full coverage is $1738 per year. Below are the rates for full coverage and minimum coverage, as well as Farm Bureau’s annual average rates.

Minimum CoverageComplete Coverage

Quadrant information services, 2020

Farm Bureau auto insurance discounts

Farm Bureau Insurance has many options to lower your premium.

  • For a single deductible, bundle your Farm Bureau homeowners and automobile policies through the Farm Bureau Member’s Choice program.
  • Drivers who have not had any insurance claims in the past are eligible for claim-free discounts.
  • A good student discount may be available to students who have a minimum B average.
  • Drivers younger than 25 years old may be eligible for a safe driver discount if they have a clean driving record.
  • You can save more if you drive safely. Some users report a 30% reduction in their premiums.
  • Policyholders who don’t drive more than 7,500 mile per year will receive a low mileage discount.
  • Multiple car discount.
  • Members of Member’s Choice receive loyalty discounts

Ask about the discounts that you are eligible for when you receive a Farm Bureau Insurance quote.

Farm Bureau Home Insurance

Farm Bureau’s homeowners insurance lets you add coverages that protect your home, personal items, and any properties connected to it.

Different types of coverage

  • Your homeowners policy may cover you up to 125% for replacement costs.
  • Personal property coverage can help you protect valuable items like jewelry, cameras, and electronics.
  • The residential equipment breakdown coverage covers the cost of replacing air conditioners, hot water heaters, and electronic equipment.
  • Insurance for other building types covers the costs of replacing or repairing unattached sheds, garages, or buildings as well as their contents. If the loss or damage to an additional structure exceeds $2,500, this benefit will kick in.
  • Umbrella coverage protects you against liability in the event that someone is injured or dies on your property. After you have exhausted the liability limit on your homeowners policy, umbrella coverage will take over.

Farm Bureau Home Insurance Discounts

Farm Bureau home insurance provides policyholders with several options to lower the cost of their homeowner policies.

  • Bundling policies provides coverage for all your possessions, with only one deductible. Farm Bureau homeowners, boat, and car policies can be combined. One deductible applies if there is damage to all of the policies.
  • You may be eligible for homeowner premium discounts if you purchase a new house or replace your roof.
  • You may be eligible for a discount if you add a burglar alarm to your home.
  • You may be eligible for a longevity credit if you renew your homeowners insurance

Farm Bureau Life Insurance

Homeowners and auto insurance cover your personal property, while life insurance protects your family in the event of an accident. Farm Bureau offers a variety of life insurance options, including whole, term, and universal policies. Here’s a quick overview:

  • Whole Life – Farm Bureau offers two options for paying your premiums: you can pay them over a time period or one premium to get coverage that lasts your entire life. Whole life policies have cash value which can be used to pay for large expenses such as education and down payments.
  • Term Life – Farm Bureau has term life insurance that you can buy in increments of 10, 15, 20, or 30 years. There are many benefits that you can add to your policy, such as waiver of premiums and children’s term insurance.
  • Universal Life – universal life from Farm Bureau offers policies that accumulate accumulated value based on your premium payments that you can borrow against to make big life purchases. You can add optional coverages to your policy to suit your lifestyle and budget.

Farm Bureau: Why it is a great option

Farm Bureau serves only nineteen states. However, it has partnered with companies such as Alfa Insurance and American National Insurance to offer discounted insurance to customers not in its network.

Farm Bureau policyholders get additional perks. Your membership can be used to get attractive discounts at hotels, pharmacies and rental cars.

Farm Bureau is usually the most affordable of all insurance companies. However, some areas may be more costly than others. Before making a purchase, make sure to price-shop for your coverage.

For even more savings, combine your Farm Bureau auto and home insurance policies by choosing a Farm Bureau quote. In today’s hectic world, one premium is more convenient.

Farm Bureau Reviews, Ratings, Customer Satisfaction, Complaints and Reviews

J.D. J.D.

J.D. J.D. Power 2020 U.S. Auto Insurance Study ranked Farm Bureau Insurance number one in the Southeast region and Texas regions. It received five-star ratings across all categories. Farm Bureau of Indiana was ranked second in North Central Region, while Farm Bureau Mutual was ranked eighth in Central Region.

The Better Business Bureau rates Farm Bureau Insurance customer service and claims with an A+ (Superior). BBB rates companies according to the number of complaints received about them, their size, how they respond to complaints, how long it takes for them to resolve complaints, whether they make an effort to resolve complaints, what their complaint resolution rate is and how long it takes to resolve complaints.

BBB complaints against Farm Bureau Insurance policyholders (auto and homeowners) involve billing and customer service issues. Consumer Affairs has a two-star satisfaction rating from customers. Many complaints are about the complicated quote process and poor customer service when filing claims. Customers also report billing issues such as overcharging or early cancellations.

AM Best financial ratingBBB RatingJD Power 2020 Auto Satisfaction Ratings by Region
Farm Bureau Property & CasualtyAA+#1 Texas and Southeast Regions, #2 in North Central, #8 Central

Additional policies offered by Farm Bureau

People want to be able to protect more than their car and home. Farm Bureau offers one of the most comprehensive selections of insurance products, including:

  • Farm vehicle
  • Motorbikes and other recreational vehicles
  • Equipment for residential use
  • Condo
  • Mobile home
  • Term, universal, and whole-life insurance
  • Commercial business, agri-related business, crop and livestock
  • Insurance for home-based businesses
  • Insurance for long-term and disability care
  • Workers compensation insurance, business succession, and employee benefits

Most Frequently Asked Questions

Which is the best auto insurer?

Your needs for coverage, budget, and digital tools (such a website and app) will determine the best auto insurance company. Bankrate’s analysis on the top auto insurance companies in 2021 has shown that State Farm scored a 3.93/6. This is the highest overall Bankrate rating. This rating is based upon strong customer service reviews and financial strength. It also includes coverage options and competitive premiums.

Which is the best company for home insurance?

Your location and type of property are key factors in determining the best homeowners insurance. Bankrate’s analysis the best home insurance companies revealed that Amica was ranked first based on customer satisfaction, financial ratings and coverage options.

Which is the best life-insurance company?

A life insurance company with a strong reputation for customer satisfaction, financial ratings and a solid position in the market is one to consider. Bankrate has ranked MetLife as the best for overall financial ratings, customer satisfaction, and life insurance options.