Erie vs. Farm Bureau Insurance

Which insurance carrier is right for you? Compare pros & cons, price, and quotes from Erie and Farm Bureau.

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Erie vs. Farm Bureau: What You Need to Know

Erie Insurance Exchange was founded in 1925 by H.O. Hirt and O.G. Crawford, in the city of Erie, Pennsylvania. H.O. Hirt hoped to create a company based on superior service using the mantra, “The ERIE is Above all in sERvIcE,” with the letters "E-R-I-E" raised in capitals out of the word“service.” It still remains the company tagline today. Three years after being established, the company was doing so well that it expanded its business by opening its first office outside Erie, in Pittsburgh. By 1934, the company created the “Super Standard Auto Policy,” which was used as a model for other insurance companies across the country. The company later expanded its product portfolio into a home, business and in the year 1967, Erie Family Life Insurance Company was formed, offering life insurance to consumers. Erie Indemnity Company was registered with the Securities and Exchange Commission in 1994 and in the following year it was listed on NASDAQ. Today, Erie Insurance Company ranks number 381 on the 2019 FORTUNE500® list and has over 5,000 employees and 12,000 independent agents. Also, the company ranks highest among auto insurers in providing a satisfying purchase experience, with a score of 917 (on a 1,000-point scale).

In 1939, in Des Moines, Iowa, Farm Insurance Company was founded to meet the liability insurance needs of farmers. As the company grew and opened offices in other states, it expanded its product line to include car, home, and life insurance as well as other types of coverage. By the year 1996, the holding company, FBL Financial Group, was listed on the New York StockExchange. The company was formerly known as Farm Bureau Mutual InsuranceCompany but was reorganized and renamed in 2010. Today, the company goes by the name Farm Bureau Financial Services and is known for its superior car and home insurance products. It has around 1,600 employees and 4,000 field associates in different states.

Below is a list of average rates, rankings, products, and discounts for the two companies. For full company overviews, you can visit Erie Overview and Farm Bureau Mutual (IA Group) Overview.

Erie vs. Farm Bureau Mutual (IA Group): How much are the Average Rates?

Below is a list of the average rates that drivers typically pay with Erie and Farm Bureau Mutual (IA Group). On average, Erie charges approximately $139.46 per month while Farm Bureau Mutual (IA Group) comes in at around $111.27 per month. For Erie, the cheapest state average is Ohio at $83.98 per month and the most expensive is New York at $200.62 per month. For Farm Bureau Mutual (IA Group), the cheapest state average is Iowa at $74.80 per month and the most expensive is New Mexico at $128.49 per month.

Erie

Average Rate

$139.46
Farm Bureau Mutual (IA Group)

Average Rate

$111.27
National

Average Rate

$120.83
State Erie Farm Bureau Mutual (IA Group)
Arizona- $113.39
Indiana $89.81 -
Iowa- $74.80
Kansas- $123.88
Maryland $177.22 -
Minnesota- $103.88
Nebraska- $103.29
New Mexico- $128.49
New York $200.62 -
North Carolina $87.30 -
Ohio $83.98 -
Pennsylvania $125.20 -
South Dakota- $104.42
Tennessee $110.89 -
Utah- $123.21
Virginia $95.82 -
West Virginia $99.19 -
Wisconsin $96.75 -

Erie vs. Farm Bureau Mutual (IA Group): Rates by Number of Vehicle

Home

Drivers will typically get a discount if they insure multiple vehicles. Here is a list of average rates that Erie and Farm Bureau Mutual (IA Group) typically charge for drivers who have more than 1 vehicle.

Number of Vehicles Erie Farm Bureau Mutual (IA Group)
2 Vehicles $136.01 $142.33
1 Vehicle $140.22 $101.99
3 Vehicles $167.66 $219.35

Erie vs. Farm Bureau Mutual (IA Group): Rates by Homeownership

Home

Drivers who own their home rather than rent can sometimes get a small discount. We found that on average Erie charges $119.29 per month and Farm Bureau Mutual (IA Group) charges $109.50 per month for customers who own their home.

Own/Rent Erie Farm Bureau Mutual (IA Group)
Own $119.29 $109.50
Rent $146.28 $112.04

What is Erie and Farm Bureau Insurance Rating?

Which car insurance company is better? We've made it easy to compare companies side by side. See how Erie and Farm Bureau ranked among the industry ratings.

ComparisonErieFarm Bureau
Year Founded19251939
Market Share1.29
A.M. Best RatingA+A
BBB RatingA+
Financial StrengthExcellentExcellent
NAIC Complaint Ratio0.220.92

Erie or Farm Bureau: Insurance Products Offered

What coverage is available through Erie and Farm Bureau? Both insurance companies offer Auto, Commercial, Condo, Health, Home, Life, Motorcycle, Renters, and RV insurance. Additional products from Farm Bureau insurance also includes Farm and Umbrella insurance. Considering these two top insurance providers? Check out the list below. To view a full list of products that are available, visit Erie and Farm Bureau Mutual (IA Group) Insurance page.

InsuranceErieFarm Bureau
Auto Insurance
Commercial Insurance
Condo Insurance
Farm Insurance
Health Insurance
Home Insurance
Life Insurance
Motorcycle Insurance
Renters Insurance
RV Insurance
Umbrella Insurance

Erie or Farm Bureau: Ways To Save

Farm Bureau offers a wide range of discounts to its policyholders, including Continued In-Force Credit, Discounts for Multiple Cars, and Driven to Safety discounts. In contrast, Erie also offers a few discounts that Farm Bureau doesn’t include Young Driver Loyalty, Teen Driver, and Student discounts. Start taking advantage of discounts offered by insurance providers like Farm Bureau and Erie insurance and save yourself some money. You can review the full list of discounts that these two companies offer below.

ErieFarm Bureau
Advance Quote DiscountClaim Free Discount
Age 55 DiscountContinued In-Force Credit
Driver Training DiscountDiscounts for Multiple Cars
Multi-Policy DiscountDriven to Safety Discount
Multi-Vehicle DiscountDriveology: The Science of Save Driving®
New Vehicle DiscountFarm Bureau Member’s Choice
Paid in Full DiscountGood Student Discount
Prior Bodily Injury Limits (BIL) DiscountLow Mileage Discount
Reduced Usage DiscountSafe Young Driver Discount
Safe Driver Discount
Safety Features Discount
Student Discount
Teen Driver Discount
Young Driver Loyalty Discount

Pros & Cons of Erie & Farm Bureau

Pros

Erie
  • Erie Insurance is well-known for its competitive price and excellent claims service.
  • It has fewer customer complaints than the industry median, relative to its size.
  • Offers 12-month premium quotes
  • Multiple discounts available
  • It locks in your auto insurance rate, so your premium won’t change unless you add or remove drivers or cars.
Farm Bureau
  • Farm Bureau has high customer satisfaction.
  • The company has a young driver program, which offers young drivers a 25%discount for completing its safe driving program.
  • Affordable rates and transparent pricing.

Cons

Erie
  • It doesn’t accept claims online, only by phone.
  • It offers its products in only 12 states.
Farm Bureau
  • Must have a Farm Bureau membership to get insurance.

Erie or Farm Bureau Mobile Apps Options

The Erie Insurance mobile app is available for iOS and Android.

The Farm Bureau Member Benefits app is available for iOS and Android. This mobile app offers some benefits and services including financial services and insurance products, entertainment discounts at local attractions, savings on hotels, rental cars, vehicles, retail items and more.

Erie Mobile App
iOS     3.318 user reviews
Android     3.819 user reviews
Farm Bureau Mobile App
iOS     3.815 user reviews
Android     3.199 user reviews

Erie & Farm Bureau Contact Info

Erie Contact Info
Address100 Erie Insurance Place, PA 16530
Phone1-800-458-0811
Websitehttps://www.erieinsurance.com/
Facebookhttps://www.facebook.com/erieinsurance/
Twitterhttps://twitter.com/erie_insurance
Youtubehttps://www.youtube.com/user/ErieInsurance
Linkedinhttps://www.linkedin.com/company/erie-insurance-group/
Farm Bureau Contact Info
Address5400 University Avenue West Des Moines, IA 50266-5997
Phone1-866-399-3237
Websitehttps://www.fbfs.com/
Facebookhttps://www.facebook.com/FarmBureauFinancialServices
Twitterhttps://twitter.com/fbfs
Youtubehttps://www.youtube.com/user/FarmBureauFinclSvcs
Linkedinhttps://www.linkedin.com/company/farm-bureau-financial-services/

Methodology
The statistics listed on this page are from our own in house reporting. We track and record quotes that carriers have provided based on various criteria. The rates and averages shown on this page should only be used as an estimate.

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