Farm Bureau Insurance Review


Farm Bureau Insurance Review insurance

As its name suggests, Farm Bureau was founded to serve farmers. Today it’s available to anyone, and under the Farm Bureau Financial Services umbrella, it insures not only farm vehicles but also cars, motorcycles, recreational vehicles, homes, rentals and other residential properties. It also sells health, life and business insurance as well as investment products.

More than 1,700 local agents sell Farm Bureau policies in 14 states. Not all products are available in every state.

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Farm Bureau Insurance offers coverage options that are standard among auto insurance companies. They include:

Farm Bureau has some of the discount options available from most insurance companies, though not as wide a selection as some. You might qualify for discounts if you:

With the insurer’s One Deductible Advantage, if one event damages properties covered by more than one type of Farm Bureau insurance, you pay just one deductible. The feature is available when you combine policies, such as car, boat, home, motorcycle and others through Member’s Choice.

Farm Bureau homeowners insurance covers your home if it’s damaged or destroyed by windstorms and hail, or by fire, lightning, smoke, explosions and other situations outlined in your policy. Homeowners insurance also covers theft and vandalism, and it pays to repair or replace your personal possessions. It also covers you for liability; for example, if a guest is hurt on your property or if you accidentally hurt someone away from home.

A homeowners policy typically covers unattached structures on your property, such as a garage or storage shed, but Farm Bureau charges extra for this coverage.

Farm Bureau offers only two homeowners insurance discounts: for bundling car and home insurance and for renewing Member’s Choice policies.

Farm Bureau offers term life, whole life and universal life insurance, with policy choices varying by state. Whole and universal life are types of permanent life insurance, which covers your lifetime and accumulates cash value.

Farm Bureau also offers identity theft insurance for $25 per year to existing home insurance customers; it can be purchased online.

Farm Bureau sells insurance and financial services products in 14 states: Arizona, Iowa, Idaho, Kansas, Minnesota, Montana, North Dakota, Nebraska, New Mexico, Oklahoma, South Dakota, Utah, Wisconsin and Wyoming.

Compared with the median for a company its size, Farm Bureau has fewer complaints, according to the National Association of Insurance Commissioners. Farm Bureau’s complaint ratio is .76 for auto insurance, lower than the industry median of 1. (Lower numbers are better.)

By registering for an account, you can view your statement and pay your bill online, report a claim and get access to your policy information.

You could take care of most or all of your insurance needs with Farm Bureau. It’s always wise to shop around before purchasing insurance: Compare price quotes from several companies, and consider their claims satisfaction and customer service records. When comparing auto insurance quotes, NerdWallet’s comparison tool can help.

Juan Castillo is a staff writer at NerdWallet, a personal finance website. . Twitter: @JCastilloNerd.