Farm Bureau vs. Chubb Insurance

Which insurance company is right for you? Compare insights, price, and quotes from Farm Bureau and Chubb.

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Farm Bureau vs. Chubb: What You Need to Know

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.

In 1882, Thomas Caldecot Chubb and his son Percy founded Chubb & Son inNew York City selling with marine insurance. In 1901, Percy organized theFederal Insurance Company, writing marine insurance and expanded into fire two years later. The company acquired control of U.S Guarantee Company in1921 and they opened their first branch outside the U.S in Montreal, Canadain 1928. In the year 1967, the company changed its name to ChubbCorporation and at the same time, they acquired the Pacific IndemnityCompanies. In 1984 Chubb was listed on the New York Stock Exchange and their business expanded overseas by 1990. In 2012, after Superstorm Sandy, Chubb settled the highest number of claims in the company's history. Ace Limited and Chubb became one company and adopted the Chubb name by 2016. Today, Chubb is the world’s largest publicly traded P&C insurance company and the largest commercial insurer in the U.S, operating in 54 countries and provides property and casualty insurance to businesses and individuals, including personal products such as auto, home, travel, natural disasters, valuables, boats & yachts, cyber and life & health protection.

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

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

Below is a list of the average rates that drivers typically pay with Farm Bureau Mutual (IA Group) and Chubb. On average, Farm Bureau Mutual (IA Group) charges approximately $109.62 per month while Chubb comes in at around $222.02 per month. For Farm Bureau Mutual (IA Group), the cheapest state average is Iowa at $73.31 per month and the most expensive is New Mexico at $126.71 per month. For Chubb, the cheapest state average is Washington at $119.11 per month and the most expensive is New York at $342.84 per month.

Farm Bureau Mutual (IA Group)

Average Rate

$109.62
Chubb

Average Rate

$222.02
National

Average Rate

$120.30
State Farm Bureau Mutual (IA Group) Chubb
Arizona $112.13 -
Iowa $73.31 -
Kansas $121.10 -
Michigan- $178.59
Minnesota $101.87 -
Nebraska $102.06 -
New Mexico $126.71 -
New York- $342.84
Pennsylvania- $220.23
South Dakota $103.67 -
Tennessee- $141.31
Texas- $191.05
Utah $122.35 -
Virginia- $145.77
Washington- $119.11

Farm Bureau Mutual (IA Group) vs. Chubb: 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 Farm Bureau Mutual (IA Group) and Chubb typically charge for drivers who have more than 1 vehicle.

Number of Vehicles Farm Bureau Mutual (IA Group) Chubb
1 Vehicle $101.62 $213.81
2 Vehicles $138.70 $255.16
3 Vehicles $206.98 $340.60
4 Vehicles $ $387.06

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

Home

Drivers who own their home rather than rent can sometimes get a small discount. We found that on average Farm Bureau Mutual (IA Group) charges $107.12 per month and Chubb charges $195.48 per month for customers who own their home.

Own/Rent Farm Bureau Mutual (IA Group) Chubb
Own $107.12 $195.48
Rent $110.78 $233.02

What is Farm Bureau and Chubb Insurance Rating?

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

ComparisonFarm BureauChubb
Year Founded19391882
Market Share2.95%
A.M. Best RatingA
BBB RatingA+
Financial StrengthExcellentExcellent
Fitch RatingAA
Moody’s RatingAa3
NAIC Complaint Index0.46
NAIC Complaint Ratio0.92
S&P RatingAA

Farm Bureau or Chubb: Insurance Products Offered

What coverage is available through Farm Bureau and Chubb? Both insurance companies offer Auto, Commercial, Home, and RV insurance. Additional products from Farm Bureau insurance also includes Condo, Farm, Health, Life, Motorcycle, Renters, 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 Farm Bureau Mutual (IA Group) and Chubb Insurance page.

InsuranceFarm BureauChubb
Auto Insurance
Commercial Insurance
Condo Insurance
Farm Insurance
Health Insurance
Home Insurance
Life Insurance
Motorcycle Insurance
Renters Insurance
RV Insurance
Umbrella Insurance

Farm Bureau or Chubb: Ways To Save

Chubb offers a wide range of discounts to its policyholders, including Airbag, Anti-lock Braking System, and Anti-theft discounts. Whereas, Farm Bureau also offers a few discounts that Chubb doesn’t, including Safe Young Driver, Low Mileage, and Farm Bureau Member’s Choice discounts. Start taking advantage of discounts offered by insurance providers like Chubb and Farm Bureau insurance and save yourself some money. You can review the full list of discounts that these two companies offer below.

Farm BureauChubb
Claim Free DiscountAccident-Free Discount
Continued In-Force CreditAirbag Discount
Discounts for Multiple CarsAnti-lock Braking System Discount
Driven to Safety DiscountAnti-theft Discount
Driveology: The Science of Save Driving®College Graduate Discount
Farm Bureau Member’s ChoiceDefensive Driving Discount
Good Student DiscountGood Student Discount
Low Mileage DiscountMulti-Vehicle Discount
Safe Young Driver Discount

Pros & Cons of Farm Bureau & Chubb

Pros

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.
Chubb
  • Industry-leading claims and risk engineering services.
  • Efficiency in paying claims and solid reputation.
  • Multi-policy discounts and credits available.
  • High level of expertise.

Cons

Farm Bureau
  • Must have a Farm Bureau membership to get insurance.
Chubb
  • Higher than the average rates, since it’s a premier carrier.

Farm Bureau or Chubb Mobile Apps Options

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.

The Chubb Mobile app is available for android and iPhones and iPads. The app features fingerprint and facial login to a dashboard where you can manage payments, download ID cards, submit claims, check the agent information and more.

Farm Bureau Mobile App
iOS     3.815 user reviews
Android     3.199 user reviews
Chubb Mobile App
iOS     3.314 user reviews
Android     2.36 user reviews

Farm Bureau & Chubb Contact Info

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/
Chubb Contact Info
Address15 Mountainview Rd, Warren, NJ 07059
Phone(908) 903-2000
Websitehttps://www.chubb.com/us-en/
Facebookhttps://www.facebook.com/ChubbInsurance/
Youtubehttps://www.youtube.com/channel
Linkedinhttps://www.linkedin.com/company/chubb/

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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