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Farm Bureau Mutual: Overview
Based in Des Moines Iowa, Farm Bureau Mutual has been providing coverage since 1939.
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About Farm Bureau Mutual
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.
Farm Bureau Mutual Facts & Ratings
| Year Founded | 1939 |
| Financial Strength | Excellent |
| BBB Rating | A+ |
| NAIC Complaint Ratio | 0.92 |
Farm Bureau Mutual Mobile App Rating
| iOS | 3.8 stars (out of 5) | 19 user reviews |
| Android | 3 stars (out of 5) | 113 user reviews |
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.
Pros & Cons of Farm Bureau Mutual
- 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.
- Must have a Farm Bureau membership to get insurance.
Common Questions about Farm Bureau Mutual
Does the Farm Bureau drug test for life insurance?
It depends on the type of coverage you choose from the options that Farm Bureau offers. For example, if you choose Term Life Insurance, the medical exam is not required. However, for Whole Life Insurance, Universal Life Insurance, and Variable Universal Life Insurance, the medical exam is required. The medical exam typically includes a drug test.
What types of coverage does Farm Bureau’s life insurance offer?
Farm Bureau life insurance offers four types of life insurance, including Term Life InsuranceWhole Life InsuranceUniversal Life InsuranceVariable Universal Life Insurance
How do I cancel my Farm Bureau membership?
You may request cancellation of your policy by submitting a request through your online account, by contacting your agent, or by calling the customer service center.
Does Farm Bureau cover when you hit a deer?
Collision with deer or another animal is typically covered under comprehensive coverage. If this happens to you, call the police and connect with a Farm Bureau agent to report the accident.
What is Farm Bureau Driveology?
Farm Bureau Driveology is a usage-based insurance program that helps you stay safe on the road by providing data-driven feedback every time you drive. In addition, your safe driving habits can provide you up to 30 percent in discounts. If you sign up for Driveology, you’ll receive a small device that plugs into your vehicle and collects data about your driving behaviors. You can access that data anytime, anywhere and on any device. The data includes the following information:Score: a cumulative number that represents your driving behavior. The higher your score, the more you can save. Trips: track miles are driven.Vehicle Health: monitor your battery and cooling systems.Environmental impact: track fuel consumption and your carbon footprint.
What is Farm Bureau Replacement Cost Coverage?
Farm Bureau Replacement Cost Coverage covers you when you have widespread damage to your home. This coverage pays you up to 125 percent of the limit of insurance on your home.
How do I file a claim with Farm Bureau Insurance?
Farm Bureau Insurance offers you three options to file a claim. You can do it online, by contacting your local agent or calling the 24-hour claims center toll-free at 1-800-226-6383. To help make the process easier, please have the following documents ready: insured’s the name, address of insured, policy number and date of damage or injury.
What does Farm Bureau BusinessMax cover?
Farm Bureau BusinessMax coverage is designed to protect your business, guarding you against losses due to property damage or liability claims. Your agent will spend time getting to know you and your business, so he or she can customize your coverage. BusinessMax has plans for commercial business, large-scale ag-related operations, and home-based businesses.
What’s the difference between Farm Bureau term vs whole life insurance?
Term life insurance is one of the most affordable types of life insurance, providing coverage for a specific period (or “term”). Your coverage ends when your term ends or until you convert to a permanent life insurance policy. Whole life insurance offers financial protection for your loved ones until your death and you can have access to your policy’s accumulated cash value while you’re alive. Also, you can have the life insurance protection that remains the same throughout your lifetime.
Can anyone get farm bureau insurance?
Anyone can become an associate Farm Bureau member by paying an annual fee (typically less than $100) for the membership program. It’s important to note that you must be a member of the organization to be able to buy Farm Bureau insurance.
What states does Farm Bureau auto insurance cover?
Farm Bureau Financial Services sells insurance in 8 states, including Arizona, Iowa, Kansas, Minnesota, Nebraska, New Mexico, South Dakota, and Utah. Also, 19 state Farm Bureau insurance companies sell policies in their own states, including Colorado, Idaho, Florida, Georgia, Louisiana, Texas, Mississippi, South Carolina, North Carolina, Virginia, Tennessee, Indiana, Michigan, North Dakota, Wisconsin, Missouri, Oklahoma, and Kentucky.
Can I choose my own auto repair shop with Farm Bureau?
Farm Bureau Financial Services offers the Preferred Auto Repair Shop program, which has been scanned and pre-approved all repairs shop options and guarantees to provide high-quality service. These repairs are guaranteed for as long as you own your vehicle.
Does the Farm Bureau have a grace period?
Grace periods can vary depending on the policy type and by state. Contact your local agent to find out what yours is.
How can I save on auto insurance with Farm Bureau?
Farm Bureau Financial Services offers many options to save on auto insurance, which includes: Usage-Based Insurance Program - Driveology: as explained above, you pay for how you drive. If you keep a high score, you can save up to 30 percent. Young Driver Safety Program: young drivers (age 25 or under) who complete this program can qualify to receive a discount of 25 percent.Bundling: combining your car insurance with your home insurance usually gets you the best possible rate. Discounts: good student discount, low-mileage discount, safe driver discount, continued in-force credit, multiple cars discounts and more.
What coverage does Farm Bureau rental insurance have?
Farm Bureau renters insurance has the following coverage options: Replacement Cost Coverage: If something happens to your unit, the replacement costs are guaranteed. Actual Cash Value Coverage: This coverage includes the repair and replacement of your covered household personal property, less depreciation, and physical deterioration.Personal Property Coverage: this type of coverage protects your most valuable possessions like cameras, jewelry, electronics and more.
Farm Bureau Mutual Insurance Products
| Car Insurance | Motorcycle Insurance |
| Recreational Vehicles Insurance | Farm Vehicle Insurance |
| Homeowners Insurance | Renters Insurance |
| Mobile Home Insurance | Condominium Insurance |
| Residential Equipment Insurance | Renters Insurance |
| Personal Property Insurance | Umbrella Insurance |
| Term Life Insurance | Whole Life Insurance |
| Universal Life Insurance | Farm and Ranch Insurance |
| Health Insurance | Disability Insurance |
| Business Insurance |
Farm Bureau Mutual Auto Insurance Coverage
Bodily Injury Liability
This form of coverage is required in every state. It covers bodily injuries to a third party in an accident that was deemed your fault.
Property Damage Liability
This form of coverage is required in every state. It covers property damage and loss of use to a third party.
Uninsured/Underinsured Motorist
This form of coverage covers damages when the other party is at fault but is either uninsured or underinsured.
Comprehensive Coverage
This coverage pays for damages and loss other than that caused by a collision. It is subject to a deductible.
Collision Coverage
his coverage pays for damages and loss caused by impact with another automobile, object or person. It is subject to a deductible.
Medical Payments.
This type of protection will cover you if you’ve been injured in an accident, regardless of who’s at fault.
Roadside Assistance
This coverage helps you get back and driving if you have a roadside breakdown.
Discounts
| Driven to Safety Discount | Claim Free Discount |
| Farm Bureau Member’s Choice | Driveology: The Science of Save Driving® |
| Good Student Discount | Safe Young Driver Discount |
| Low Mileage Discount | Discounts for Multiple Cars |
| Continued In-Force Credit |
Farm Bureau Mutual (IA Group) Auto Insurance Rates by State
Below is a list of the average rates that drivers typically pay with Farm Bureau Mutual (IA Group). On average, Farm Bureau Mutual (IA Group) charges approximately $125.42 per month. The cheapest state average is Iowa at $94.41 per month followed by Minnesota at $106.45 per month. The most expensive state average is Kansas at $168.44 per month.
| State | Avg monthly rate |
|---|---|
| AZ | $130.98 |
| IA | $94.41 |
| KS | $168.44 |
| MN | $106.45 |
| NE | $106.96 |
| State | Avg monthly rate |
|---|---|
| NM | $157.84 |
| SD | $145.86 |
| UT | $126.00 |
Farm Bureau Mutual (IA Group) Auto Insurance Rates by Vehicle
Drivers typically will get a discount if they insure multiple vehicles. Here is a list of average rates that Farm Bureau Mutual (IA Group) charges for drivers who have more than 1 vehicle.
| Number of Vehicles | Avg Monthly Rate |
|---|---|
| 1 Vehicle | $117.66 |
| 2 Vehicles | $181.55 |
Farm Bureau Mutual (IA Group) Auto Insurance Rates by Homeownership
Customers who own their home rather than rent can sometimes get a small discount. We found that on average Farm Bureau Mutual (IA Group) charges $124.92 per month for drivers who own their home and $127.39 per month for those who rent.
| Own/Rent | Avg Monthly Rate |
|---|---|
| Rent | $124.92 |
| Own | $127.39 |
Farm Bureau Mutual Contact Info
| Address | 5400 University Avenue West Des Moines, IA 50266-5997 |
| Phone | 1-866-399-3237 |
| Website | https://www.fbfs.com/ |
| https://www.facebook.com/FarmBureauFinancialServices | |
| https://twitter.com/fbfs | |
| Youtube | https://www.youtube.com/user/FarmBureauFinclSvcs |
| https://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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Fran Majidi manages content on SmartFinancial's website. She's had nearly a decade's worth of experience writing about insurance-related topics. Prior, she was an arts and entertainment editor in New York City. She has a B.A. from Barnard College and an M.F.A. in writing from The New School. She writes books under her given name, Afarin Majidi.
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