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Farm Bureau Financial Car Insurance

Smart Score

84

Industry Average: 75

Smart Score

84
/100

Industry Average: 75

Customer Service

7.7
/10

Industry Average: 7.7

Claims Process

9.5
/10

Industry Average: 8

Value for Price

7.7
/10

Industry Average: 7

Farm Bureau Financial Overview

Farm Bureau Financial Services was founded in 1939 as Iowa Farm Mutual Insurance Company to cover farmers with liability insurance. It has expanded to offer multiple insurance lines of coverage, including auto, home, and life, and added financial products as well over the years. There are multiple companies that make up the Farm Bureau Financial Services brand. Farm Bureau Insurance is a membership organization, so it may not appeal to those who don’t want to join in order to obtain coverage. For those who are members of their local farm bureau or are interested in membership, their products might be worth a look; their programs appear solid. The company might not be competitive with major national insurers, but may appeal to those looking for personal service with added perks that are specific to farmers.

Lines of Business:

Farm Bureau Financial Ratings Breakdown

Smart Score

84

Farm Bureau Fin: 84
Industry Average: 75
Farm Bureau Fin: 84
Industry Average: 75

Why our Smart Score matters

Farm Bureau Financial’s Smart Score of 84 was created by combining weighted averages of ratings for customer service, claims process, and value for price from 3rd party sources as well as our own research. We view these as the most important factors since they cover the entire experience of shopping for, maintaining, and making a claim on an insurance policy.


How our Smart Score is calculated

Data comes from customer reviews, officially filed complaints, financial stability data, and other insurance industry rating companies. Combining these metrics and sources provides the most accurate and broad-based analysis of what matters most when considering Farm Bureau Financial’s overall quality compared to other auto insurers. While there is some overlap between our three primary metrics, each has unique characteristics that set them apart from each other.


What does this mean for you?

With a score of 84, Farm Bureau Financial rises above the industry average of 75. While this metric isn’t the be-all and end-all, it’s definitely a good point of reference when comparing auto insurance options.

Customer Service

7.7

Farm Bureau Fin: 7.7
Industry Average: 7.7
Farm Bureau Fin: 7.7
Industry Average: 7.7

Our customer service score measures two primary things: user satisfaction when interacting with Farm Bureau Financial’s representatives, and their experience with online tools like quoting and managing a policy via website or app. Farm Bureau Financial’s customer service score comes from a variety of places. These include user reviews on Honest Policy, as well as other analytics companies such as JD Power, Insure.com, and Consumer Reports.


What does this mean for you?

As you can see from Farm Bureau Financial’s service score of 7.7, they have a decent rating compared to similar auto insurance companies, which clock in at an average of 7.7.


With minimal sources reporting customer service data for this company, we can’t calculate the estimated range. Consequently, we’re not certain about the accuracy of this score, but it’s the closest estimate we have.

Claims Process

9.5

Farm Bureau Fin: 9.5
Industry Average: 8
Farm Bureau Fin: 9.5
Industry Average: 8

Our claims process score looks at users' experiences when filing claims with Farm Bureau Financial. It takes into account not only claim outcomes, but also the ease of making and tracking a claim, as well as how fast Farm Bureau Financial handles it.


Farm Bureau Financial’s claim score is derived from various sources. These include reviews from Honest Policy users, and outside sources including Consumer Reports, Insure.com and JD Power. We round off our calculation with official complaints filed with the National Association of Insurance Commissioners (which primarily are claim related). These complaints are weighted against the size of each company to ensure an apples-to-apples comparison. This gives our claim score the most complete picture of what to expect when filing a claim with Farm Bureau Financial.


What does this mean for you?

Evident from a claims score of 9.5, Farm Bureau Financial has an outstanding rating compared to the average claim score of 8 for similar auto insurance companies.


With minimal sources reporting claims quality data for this company, we can’t calculate an estimated range. Thus, we can’t be certain about the accuracy of this score, it’s just our best estimate.

Value for Price

7.7

Farm Bureau Fin: 7.7
Industry Average: 7
Farm Bureau Fin: 7.7
Industry Average: 7

Farm Bureau Financial’s value score measures customer satisfaction when considering how much they pay versus the quality of their experience when dealing with the company.


How Farm Bureau Financial comes up with the price of a policy varies by state, and relates to a number of different factors. Some of these include driving record, how much you use your car, location, age, gender, and the car you drive. While price is a critical factor for most insurance customers, what they get for that money is even more important. As with our other scores, this rating comes from a variety of sources: Honest Policy, JD Power, Insure.com, Clearsurance, and Consumer Reports.


What does this mean for you?

Farm Bureau Financial’s value for price score of 7.7 is excellent compared to the average of 7 from other auto insurance companies.

With few sources reporting price value data for this company, we don’t have an estimated range. As a result, we’re not 100% sure about this score. It’s more of an educated guess, so take it with a grain of salt.

Farm Bureau Financial Auto Official Complaints

Official Complaints

Better than average

Tracks how many more or less official complaints Farm Bureau Financial has than average. With an index of 0.47 Farm Bureau Financial is better than average.


The complaint index comes from two variables for each year and type of insurance.

  • The percentage of how many complaints Farm Bureau Financial has filed against them with the National Association of Insurance Commissioners (NAIC) compared to the total number of complaints filed with every company.

  • The percentage of how much insurance business (total policy premiums) Farm Bureau Financial has compared to the total amount of business of all the other companies.

By weighting complaints and business against their totals, and then dividing share of compliants by share of the market, we get the index value. With 1.0 being an average number of complaints, a 0.5 would be half as many complaints. With an index of 0.47 Farm Bureau Financial is better than average.

Customer Reviews

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Out of 5

0 Reviews

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100%

of customers would reccomend this company to a friend

9 customer reviews

KIM S

Auto Customer

Our insurer, Farm Bureau, has the best agents! They are always there when you need them and they are always ready to create you a policy that works for you. Anytime I call for anything they always have the answer. I know with them all of my possessions are covered whether it be my car or house.

Price Value: 5

Claim Satisfaction: 5

Customer Service: 5

Recommend: yes

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crystal j

Auto Customer

My first and only car accident so far was 4 years ago. I hit 2 vehicles from the back. We called the insurance company while on-scene. We had a check in the office in 2 days, I had a new car in 3. I cannot say how dependable my insurance company is and how they have provided peace of mind. It's also a member company, so there are extra benefits by being members.

Price Value: 5

Claim Satisfaction: 5

Customer Service: 5

Recommend: yes

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Cindy L.

Auto Customer

Over the years, I haven't had to make very many claims. But whenever I do, my insurance company Farm Bureau, is very prompt at responding to my needs. They are very thorough with their information and are not in a hurry to answer any and all questions.

Price Value: 4

Claim Satisfaction: 4

Customer Service: 4

Recommend: yes

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Zeb Rand

Auto Customer

My insurer gives me the cheapest price I can get for required auto insurance. I hope I never have to use it because the one time I did call my company with an issue regarding a wreck, they were pretty much completely useless. The customer service for signing up and getting the paperwork and paying for the insurance is good. I don't have any complaints on signing up and paying; this part of their customer service seems to work very well. I just don't think the claim part will go well; that is my intuition and experience so far.

Price Value: 2

Claim Satisfaction: 1

Customer Service: 3

Recommend: yes

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Melanie M

Auto Customer

I am in the process of getting a claim paid and the adjuster is giving me problems regarding the vandalism of the vehicle and the theft of some valuable stereo equipment from the vehicle. The equipment was in the truck when I purchased it, so I do not have receipts for it. I am concerned that they will refuse to pay the claim.

Price Value: 5

Claim Satisfaction: 4

Customer Service: 4

Recommend: no

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HonestPolicy User

Auto Customer

We have been very pleased with our insurance with Farm Bureau. We have had one claim because of an electrical fire in our home and it was handled in a timely and satisfactory manner. I like the fact that they review our policy every year to see if changes need to be made. Recently, because of the drastic drop in real estate values where I live, they lowered the valuation on our house so now, our premium will be lower whic will help us financially.

Price Value: -

Claim Satisfaction: n/a

Customer Service: -

Recommend: yes

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Farm Bureau Financial Coverage Options

When it comes to thier car, everyone has a different situation and differing needs for protection. While every auto insurer offers the same standard coverages. they tend to differ when it comes to what they offer or optional additional protections. Below we list and describe all the extras offered by Farm Bureau Financial

Available OptionsWhat it meansSee something wrong?
Roadside Assistance

Usually covers towing, battery service, flat tire service, fuel delivery, lockout service, and extrication.

New Car Replacement Coverage

Pays the value of a brand new car of the same make and model of the your car if your car is declared a total loss.

Farm Bureau Financial availability in these states

Farm Bureau Financial Auto Discounts

While all companies offer a range of car insurance discounts, it's hard to judge any individual discount's value in a meaningful way. For one, the discounts are typically a percentage off the base price, instead of the whole policy.

What does this mean?

Your best bet is to directly discuss your particular situation with an agent to make sure you're getting all the discounts that you may be eligible for on your auto policy. For reference, we've listed all the discounts we believe Farm Bureau Financial has below in order to hlep determine which ones may fit your profile (though keep in mind that they can vary by state).

Available OptionsWhat it meansSee something wrong?
Good Driver

Typically relates to a driver's history (or lack thereof) of accidents and violations. Often has a 3 to 5 year lookback period.

Accident Free

Tied to drivers on the policy and any accidents in their record. though insurers generally only consider the past 3 to 5 years.

Multiple Policy

While insurers are out to protect drivers, they also need to make money, and they tend to make more when a customer has multiple products (policies) with them. As a result, they can offer savings when drivers pair their car policy with another (home, renters, umbrella, etc.) policy.

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How does Farm Bureau Financial compare to other insurance companies? Click the following links below to compare Farm Bureau Financial to other top insurance companies.

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