Farm Bureau Car Insurance Company Review
Farm Bureau Car Insurance is part of Farm Bureau Financial Services, a firm that began by insuring farmers more than 70 years ago, the company’s website says. While the firm still offers insurance on farms and ranches, it has since expanded to cover home, life, health, business, property, automobiles, and other vehicles. Farm Bureau Financial Services also offer mutual funds and annuity products. The corporate headquarters is located in Des Moines, Iowa, and the parent company is FBL Financial Group.
Farm Bureau Car Insurance Options
Farm Bureau Car Insurance Company offers typical car insurance that’s available from most insurance companies. Standard options include bodily injury liability, properly damage liability, collision, comprehensive and medial and no fault coverage in select states. The uninsured and underinsured motorist coverage extends to passengers in your insured vehicle as well as most household members when they are out as pedestrians, the company site explains. Auto death indemnity coverage and disability income coverage are also available, paying out in the event of a disability or death of the insured.
While the above features are fairly standard you can also have a number of optional coverage options added to your Farm Bureau car insurance policy at no additional charge. Trailers, slide-in campers, and toppers are automatically covered as part of the insured vehicle. Farm Bureau will also reimburse you up to $200 for stolen luggage and transportation costs if your car is stolen with luggage inside and you are left stranded.
Other optional coverage comes at an additional cost to further tailor your policy to your needs. Farm Bureau can cover the personal items in your camping or travel trailer, provide rental reimbursement for rental cars or bus fare while your insured vehicle is at the repair shop, and emergency roadside assistance.
Farm Bureau Car Insurance Discounts
The usual gamut of discounts found with most car insurance policies is available from Farm Bureau. These include discounts for holding multiple policies with Farm Bureau, a discount for being a safe driver with no violations, accident, or lapses in car insurance coverage
A good-student discount offers rate reductions for young student drivers who maintain at least a B average GPA. Drivers under age 25 can earn another discount if they complete the Farm Bureau Driveology driver education program.
Farm Bureau offers the option of bundling all your insurance into one policy with a single premium with a Farm Bureau Member’s Choice option. Your car, home, boat, motorcycle, and other insurance needs can be combined to a single deductible. Optional coverage for the bundled package includes emergency roadside assistance, residential equipment breakdown and identity service and fraud expense coverage, the Farm Bureau website explains.
Farm Bureau also stands out by refusing to provide online quotes for insurance. It says insurance needs are too unique to sum them up accurately with a quote and the best practice is to call an agent to discuss a plan that best suits you.
Farm Bureau Marketing
Farm Bureau Insurance takes the local angle with its marketing, with a prime example on an ad campaign for Michigan Farm Bureau. One features a large photo of Michigan’s well-known Mackinac Bridge with the headline: “Our service is always local.”
Similar ads feature other notable Michigan landmarks or features, such as a lighthouse, Lake Superior and a cherry tree on the border of a photo displaying the Detroit skyline. Headlines include “We love Michigan as much as you do,” “Michigan, we’re here for you,” and “Michigan is always safe with us.”
The insurance company also played a part in a TV episode of Extreme Makeover: Home Edition, according to a press release on the Farm Bureau Financial Services website. Farm Bureau was the insurer of choice for a Utah family’s new home. The Oct. 2, 2011, episode featured the Gomez family, which was facing hardship due to one of the children’s medical issues. Jonah Gomez’s blood disorders led to open-heart surgery for the first-grader, who is also in need of a bone marrow transplant.
Farm Bureau Notable Achievements
FBL Financial Group made the list of 100 Fastest Growing Companies named by Fortune Magazine in 2011, according to an article in CNN. Only 10 financial service firms were named on the list, and FBL Financial Group clocked in at number 83. The three-year average revenue growth for the company was 17%, its average profit growth was 51%, and its average total return was 20%. The revenue for FBL was estimated at $1130.5 million and its net income at $129.1 million.
Farm Bureau Mutual Group, Tennessee Farm Bureau, Texas Farm Bureau, North Carolina Farm Bureau, and Kentucky Farm Bureau were included in a J.D. Power and Associates 2011 U.S. National Auto Insurance Study, but they were not ranked because they did not meet J.D. Power and Associate’s requirements for inclusion. These include a minimum market share threshold and minimum sample size, according to a J.D. Power and Associates press release.