Smart Score
84
Industry Average: 7.7
Industry Average: 8
Industry Average: 7
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:
When it comes to their auto, 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 Option | What it means | |
---|---|---|
Accident Forgiveness | Protects your driving record from being affected by the insurance company's rating system for an at-fault accident, thus preventing your insurance premium from going up due to this type of accident. | |
Airbag Replacement Coverage | Covers your replacement airbags and labor should they need replacement | |
Antique or Collector Car Insurance | Special insurance for antique and collectors cars. | |
Better Car Replacement | Policy that will replace your car if it is a total loss with a car one model year newer and with 15,000 fewer miles. | |
Build Your Own Plan | Customize your insurance policy with a build your own plan policy. | |
Child Safety Seat Replacement | A policy that pays for a new child safety seat if yours is damaged in an accident. | |
Comprehensive Claim Forgiveness | Protects your driving record from being affected by the insurance company's rating system for a comprehensive claim on your history, thus preventing your insurance premium from going up due to this type of accident. |
While all companies offer a range of auto 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 help determine which ones may fit your profile (though keep in mind that they can vary by state).
Available Option | Discount Data | What it means |
---|---|---|
Good Driver | Varies | 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 | Varies | 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 | Varies | 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. |
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.