Which insurance carrier is right for you? Compare rates, insights, and quotes from Farm Bureau and Electric.
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.
The history of Electric Insurance Company began in 1927 when EMLICO, its former company was established to provide GE (General Electric Company)with Workers’ Compensation insurance in Massachusetts. The company was doing so well that it started providing coverage nationally for GE and also included general liability and commercial auto in its product portfolio. By1966, Electric Insurance Company was formed to ensure GE employees, but after a while, it expanded its business to all consumers. During the 1990sthe company becomes one of the first P&C carriers to offer consumers web-based insurance quotes. Today, Electric Insurance manages approximately$160 million in personal lines premiums for nearly 135,000 policyholders and has about $450 million in total written premium. Its services are offered in all 50 states directly via mobile applications and the web and through independent agencies. Its consumer base is 60% of GE employees and40% general customers.
Below is a list of the average rates that drivers typically pay with Farm Bureau Mutual (IA Group) and Electric. On average, Farm Bureau Mutual (IA Group) charges approximately $110.18 per month while Electric comes in at around $246.58 per month. For Farm Bureau Mutual (IA Group), the cheapest state average is Iowa at $74.37 per month and the most expensive is New Mexico at $126.91 per month. For Electric, the cheapest state average is Missouri at $195.05 per month and the most expensive is Virginia at $350.30 per month.
|State||Farm Bureau Mutual (IA Group)||Electric|
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 Electric typically charge for drivers who have more than 1 vehicle.
|Number of Vehicles||Farm Bureau Mutual (IA Group)||Electric|
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 $107.89 per month and Electric charges $218.53 per month for customers who own their home.
|Own/Rent||Farm Bureau Mutual (IA Group)||Electric|
Which car insurance company is better? We've made it easy to compare companies side by side. See how Farm Bureau and Electric ranked among the industry ratings.
|A.M. Best Rating||A||A|
|NAIC Complaint Ratio||0.92|
What coverage is available through Farm Bureau and Electric? Both insurance companies offer Auto, Condo, Home, Motorcycle, Renters, RV, and Umbrella insurance. Additional products from Farm Bureau insurance also includes Commercial, Farm, Health, and Life 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 Electric Insurance page.
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. Whereas, Electric also offers a few discounts that Farm Bureau doesn’t, including Student-Away-from-Home, Safety Features, and Safe Driver discounts. Start taking advantage of discounts offered by insurance providers like Electric and Farm Bureau insurance and save yourself some money. You can review the full list of discounts that these two companies offer below.
|Claim Free Discount||Accident-free Discount|
|Continued In-Force Credit||Driver Training Credit|
|Discounts for Multiple Cars||Electric and Hybrid Vehicles Discount|
|Driven to Safety Discount||Employer Group Discounts|
|Driveology: The Science of Save Driving®||Family & Friends Referral Discount|
|Farm Bureau Member’s Choice||Good Student Discount|
|Good Student Discount||Low Annual Mileage Discount|
|Low Mileage Discount||Married Status Discount|
|Safe Young Driver Discount||Mature Driver Accident Prevention Course Discount|
|New Auto Insurance Customer Discount|
|New Vehicle Discount|
|Plan Ahead (Early Purchase) Discount|
|Safe Driver Discount|
|Safety Features Discount|
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 Always On Mobile app is available for iOS and Android. This mobile app can help you to view your auto insurance information, report an auto claim, upload photos of the vehicle damage, access 24 hours / 7 days a week emergency roadside assistance services, schedule glass repair and much more.
|Farm Bureau Mobile App|
|iOS||3.8||15 user reviews|
|Android||3.1||99 user reviews|
|Electric Mobile App|
|iOS||1||2 user reviews|
|Android||1.9||34 user reviews|
|Farm Bureau Contact Info|
|Address||5400 University Avenue West Des Moines, IA 50266-5997|
|Electric Contact Info|
|Address||75 Sam Fonzo Drive, Beverly, MA 01915|
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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