Mercury vs. Farm Bureau Insurance

Which insurance provider is right for you? Compare savings, pros & cons, and quotes from Mercury and Farm Bureau.

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Mercury vs. Farm Bureau: What You Need to Know

George Joseph founded Mercury General Corporation in Los Angeles with a promise to provide more affordable rates than other carriers and the best customer service in the industry. The first policy was sold in 1962 when the company had only six employees and 90 agents. Two years later Mercury Insurance opened an office in Orange County, CA. In 1966 they opened their first office in the San Fernando Valley and a year later earned an A+ rating from A.M. Best. They continued expanding in southern California with an office opening in San Diego. In 1968 Mercury established a holding company, then acquired shares of Mercury Casualty Company and made it a wholly-owned subsidiary of Mercury General Corp. They then moved into their newly opened San Jose office. In 1970, Mercury wrote $1 million in premiums in one month and grew to employ 467 agents. In 1972 they sold their first homeowners policy. In 1973 Mercury formed a subsidiary for underwriting preferred risk, thereby increasing business using a 34-page manual written by the company’s founder. In 1974, Mercury opened its first Sacramento office and by 1977, Mercury Insurance becomes the largest insurance subsidiary, producing over $1 billion in premiums by 2011. In 1978, Mercury established a Special Investigations Unit (SIU) to fight insurance fraud.

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 Stock Exchange. The company was formerly known as Farm Bureau Mutual Insurance Company 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 Mercury Overview and Farm Bureau Mutual (IA Group) Overview.

Mercury 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 Mercury and Farm Bureau Mutual (IA Group). On average, Mercury charges approximately $222.07 per month while Farm Bureau Mutual (IA Group) comes in at around $110.18 per month. For Mercury, the cheapest state average is Virginia at $135.18 per month and the most expensive is Florida at $299.57 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.

Mercury

Average Rate

$222.07
Farm Bureau Mutual (IA Group)

Average Rate

$110.18
National

Average Rate

$120.03
State Mercury Farm Bureau Mutual (IA Group)
Arizona $194.28 $112.42
California $173.41 -
Florida $299.57 -
Georgia $209.97 -
Illinois $157.81 -
Iowa- $74.37
Kansas- $121.48
Minnesota- $101.96
Nebraska- $102.86
Nevada $292.03 -
New Jersey $232.95 -
New Mexico- $126.91
Oklahoma $163.14 -
South Dakota- $104.67
Texas $222.85 -
Utah- $123.58
Virginia $135.18 -

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

Number of Vehicles Mercury Farm Bureau Mutual (IA Group)
1 Vehicle $204.31 $101.96
2 Vehicles $278.99 $139.14
3 Vehicles $482.69 $
4 Vehicles $534.47 $

Mercury 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 Mercury charges $212.39 per month and Farm Bureau Mutual (IA Group) charges $107.89 per month for customers who own their home.

Own/Rent Mercury Farm Bureau Mutual (IA Group)
Own $212.39 $107.89
Rent $226.60 $111.26

What is Mercury and Farm Bureau Insurance Rating?

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

ComparisonMercuryFarm Bureau
Year Founded19621939
Market Share1.13%
A.M. Best RatingA
BBB RatingA+A+
Financial StrengthExcellentExcellent
JD Power RankingAverage
Moody’s RatingBaa2
NAIC Complaint Ratio0.92
S&P RatingA

Mercury or Farm Bureau: Insurance Products Offered

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

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

Mercury 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, Mercury also offers a few discounts that Farm Bureau doesn’t, including Pay-in-Full, Occupational, and Multi-policy discounts. Start taking advantage of discounts offered by insurance providers like Farm Bureau and Mercury insurance and save yourself some money. You can review the full list of discounts that these two companies offer below.

MercuryFarm Bureau
Anti-theft Feature DiscountClaim Free Discount
Auto Pay DiscountContinued In-Force Credit
E-signature DiscountDiscounts for Multiple Cars
Good Driver DiscountDriven to Safety Discount
Good Student DiscountDriveology: The Science of Save Driving®
Multi-car DiscountFarm Bureau Member’s Choice
Multi-policy DiscountGood Student Discount
Occupational DiscountLow Mileage Discount
Pay-in-Full DiscountSafe Young Driver Discount

Pros & Cons of Mercury & Farm Bureau

Pros

Mercury
  • Offers low rates and excellent coverage for homeowners, condo, renters, umbrella, auto, mechanical breakdown, business auto and business insurance in 13 states.
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

Mercury
  • Mercury Insurance is only available in 13 states.
  • Not all discounts are available in all 13 states.
Farm Bureau
  • Must have a Farm Bureau membership to get insurance.

Mercury or Farm Bureau Mobile Apps Options

The Mercury Mobile app is available for android. This insurance tool is where you can manage payments, view auto policy information, download ID cards and more.

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.

Mercury Mobile App
iOSN/ANot Available
Android     2.7200 user reviews
Farm Bureau Mobile App
iOS     3.815 user reviews
Android     3.199 user reviews

Mercury & Farm Bureau Contact Info

Mercury Contact Info
Address4484 Wilshire Boulevard Los Angeles, California
Phone1 (800) 503-3724
Websitehttps://www.mecuryinsurance.com
Facebookhttps://www.facebook.com/MercuryInsurance
Twitterhttps://twitter.com/mercuryins
Youtubehttps://www.youtube.com/mercury
Linkedinhttps://www.linkedin.com/company/mercury-insurance
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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