Is Indiana Farm Bureau Good for Auto Insurance?
Last Updated on December 29, 2020
Indiana Farm Bureau has a long history of providing car insurance to policyholders across Indiana. But is Indiana Farm Bureau a good auto insurance company?
Generally, Indiana Farm Bureau is one of the best-rated insurers in Indiana for car insurance. The company is particularly popular with those who want a local, personalized approach to car insurance.
Find out everything you need to know about Indiana Farm Bureau auto insurance today in our review.
About Indiana Farm Bureau
Indiana Farm Bureau is part of the Farm Bureau network of insurance companies. Many states, including Virginia, North Carolina, Georgia, Missouri, and Texas, have their own statewide Farm Bureau insurance company.
You must be a Farm Bureau member to buy Indiana Farm Bureau insurance. Even with the membership fee, however, Indiana Farm Bureau auto insurance tends to be among the most competitive in the state. Indiana Farm Bureau tends to offer lower rates and better claims satisfaction than many of its competitors.
Indiana Farm Bureau traces its history back to October 18, 1934, when a group of Hoosier farmers banded together to offer better insurance options.
Over the years, Indiana Farm Bureau has grown to offer home, auto, life, farm and crop, business, and renters insurance. The company also offers financial services.
Today, Indiana Farm Bureau has more than 430 agents and 1,200 employees across the state, including agents and employees in all 92 counties in Indiana. Most Indiana Farm Bureau policyholders rely on a local agent when making claims, adding coverage, or adjusting their policy.
Indiana Farm Bureau Insurance Products & Services
Indiana Farm Bureau is a full-service insurance company. Drivers can buy car insurance, home insurance, and other insurance products through Indiana Farm Bureau.
Insurance products available through Indiana Farm Bureau include:
Auto Insurance: Indiana Farm Bureau offers auto insurance that meets Indiana’s minimum liability insurance requirements. Drivers can also add collision and comprehensive coverage for additional protection, roadside assistance coverage, and other policy options as needed.
Home Insurance: The company offers home insurance throughout the state, allowing policyholders to protect their property and customize coverage as needed.
Life Insurance: Bundle life insurance with your Indiana Farm Bureau insurance policy to receive a discount on all your policies.
Business Insurance: Protect a business in Indiana with Indiana Farm Bureau business insurance.
Farm and Crop: Indiana Farm Bureau initially covered farmers across the state. The company now covers anyone, although you can still buy farm and crop insurance through Indiana Farm Bureau.
Renters Insurance: Protect your possessions with Indiana Farm Bureau’s renters insurance.
Umbrella Liability Coverage: If you have assets worth protecting, then you need umbrella liability coverage. Indiana Farm Bureau sells umbrella liability coverage to policyholders across the state, giving you an extra layer of protection if your actions cause damage to someone.
Financial Services: In addition to insurance, Indiana Farm Bureau offers financial services, including IRAs, estate preparation, annuities, and securities, among other products. Whether saving for retirement or preparing your state, Indiana Farm Bureau may have the financial products and services you need.
How Does Indiana Farm Bureau Auto Insurance Work?
Indiana Farm Bureau auto insurance works similar to the auto insurance provided by other small and large insurance companies across Indiana. Drivers can buy minimum liability car insurance to meet Indiana’s minimum requirements. Or, drivers can buy collision and comprehensive coverage for added peace of mind.
Some of the core Indiana Farm Bureau auto insurance products include:
Bodily Injury Liability Coverage: The state of Indiana requires bodily injury liability coverage, which is also required in most other states. Bodily injury liability coverage covers lost wages, emotional pain and suffering, and medical bills after an accident, among other costs.
Property Damage Liability Coverage: The state of Indiana also requires drivers to carry property damage liability coverage, which covers the cost of repairing or restoring any property you damage while driving – like another driver’s vehicle.
Collision Coverage: Collision coverage repairs your vehicle after an accident that you cause.
Roadside Assistance: Drivers can buy roadside assistance through Indiana Farm Bureau. Add roadside assistance to your plan to be covered for fuel deliveries, roadside breakdowns, spare tire changes, and vehicle jumpstarts, among other emergency situations.
What Makes Indiana Farm Bureau Auto Insurance Unique?
All car insurance companies in Indiana claim to offer competitive car insurance premiums and strong claims satisfaction. However, not all Indiana car insurance companies live up to that claim.
Some of the products and services that make Indiana Farm Bureau unique include:
Membership-based Insurance: You must be a Farm Bureau member to buy Indiana Farm Bureau car insurance. Membership comes with additional discounts and benefits, including discounted theme park tickets, discounts on farm equipment, and lower prices on hotel stays, among other advantages.
Local and Personalized Service: Indiana Farm Bureau gents live and work in your community. There might be an Indiana Farm Bureau agent’s office in your small town in Indiana, for example. Most of your interactions with Indiana Farm Bureau will take place through your agent, including claims, coverage adjustments, and more. It’s a more local and personalized insurance experience than you get with nationwide insurance companies.
Competitive Prices: Even with the annual Farm Bureau membership fee, Indiana Farm Bureau tends to be among the most competitively-priced car insurance companies in Indiana. The company is known for offering a good combination of claims satisfaction and customer service without charging excessive prices.
Strong Claims Satisfaction: Indiana Farm Bureau frequently ranks among the best insurance companies in Indiana for claims satisfaction and customer service. The company recently placed third in J.D. Power’s annual rankings, for example, making it one of the best insurers in the state for claims satisfaction.
Indiana Farm Bureau Auto Insurance Discounts
Indiana Farm Bureau offers similar car insurance discounts to other large insurance companies, although some discounts are unique to farmers and others in the agricultural space.
Available Indiana Farm Bureau auto insurance discounts include:
Multi-Policy Discounts: If you have multiple policies with Indiana Farm Bureau, then you can bundle the policies together to save money. Indiana Farm Bureau offers life, home, auto, and other insurance products.
Multi-Vehicle Discounts: Indiana Farm Bureau’s multi-vehicle discounts let you save money when insuring multiple vehicles with the company. If all vehicles are registered at the same address and insured with Indiana Farm Bureau, then you should qualify for a discount.
Accident-Free Discount: Like most insurance companies, Indiana Farm Bureau offers discounts to drivers with no accidents or incidents on their record. Depending on how long you’ve maintained insurance with Indiana Farm Bureau, you could qualify for discounts of up to 30%.
Safety Equipment Discounts: Indiana Farm Bureau offers discounts for vehicle safety features, including anti-lock brakes and passive restraint features. Most vehicles sold within the last 10 to 20 years have anti-lock brakes, and anti-lock brakes have been required on all new vehicles sold in the United States since 2013.
Claims Experience Discount: If you have no recent claims, then you could earn Indiana Farm Bureau’s Claims Experience Discount. This discount increases based on the amount of time you go without a claim.
Crop Hail Discount: You receive a 10% discount if you have an active Rural Guardian policy with Indiana Farm Bureau.
Agribusiness Discount: If you are an employee of a qualifying company, then you receive a 10% agribusiness discount from Indiana Farm Bureau. You can view a list of qualifying companies here.
DriveTrend Discount: Indiana Farm Bureau offers a telematics (driver tracking) system called DriveTrend. If you agree to let DriveTrend track your driving habits using a mobile app, then you receive a discount of up to 10% on premiums.
Farm Rate Program: If you have vehicles that are mostly garaged on a farm, then you receive a discount via the Farm Rate Program.
Full Payment Discount: Receive a 5% discount on insurance premiums by paying your premium in full upfront.
Mature Driver Discount: Indiana Farm Bureau offers discounts to drivers 45 years of age and older.
Paperless Discount: Indiana Farm Bureau offers discounts up to 5% to drivers who choose paperless billing.
Top Scholar Discount: Indiana Farm Bureau offers a discount to students who earn good grades. If you have a grade point average (GPA) of at least 2.95 on a 4.0 scale (or its equivalent), then you could save money via Indiana Farm Bureau’s Top Scholar Discount.
Youthful Driver Discount: Drivers ages 16 to 24 may qualify for discounts to reward safe driving. Sign up for Indiana Farm Bureau’s Youthful Driver Discount program to see if you qualify for various discounts.
Indiana Farm Bureau Reviews & Ratings
Indiana Farm Bureau is generally well-reviewed by policyholders across Indiana.
Like other Farm Bureau insurance companies, Indiana Farm Bureau has a strong reputation for customer service, and many customers appreciate the experience of dealing with an agent in their local area.
Indiana Farm Bureau has an A+ rating from the Better Business Bureau. The company has 13 total complaints in the last 3 years, most of which (9 complaints) involved billing or collections issues – not problems with claims satisfaction or service.
Indiana Farm Bureau also has strong ratings on independent insurance review websites like Clearsurance, where the company has a 4.18/5 rating. Typically, customers don’t rate their insurer unless they’re dissatisfied with a claim, so a 4.18 rating is significant.
J.D. Power ranked Indiana Farm Bureau the third-best insurance company in the North Central region of the United States. The company placed just behind Auto-Owners Insurance and Nationwide in overall claims satisfaction and customer service. J.D. Power ranks insurance companies based on the recent claims experiences of customers and other factors.
A.M. Best, meanwhile, recently affirmed a financial strength rating of A- (Excellent) for Indiana Farm Bureau. A.M. Best analyzes the financial stability of insurance companies based on their liabilities and assets. A rating of A- (Excellent) is very good, although some of Indiana Farm Bureau’s larger competitors score an A, A+, or better.
Final Word on Indiana Farm Bureau
Indiana Farm Bureau is one of the most popular and best-rated insurance companies in Indiana.
The company is known for offering strong claims satisfaction and customer service without charging high prices.
To request a free auto insurance quote from Indiana Farm Bureau, visit the company online today at INFarmBureau.com.
|Indiana Farm Bureau Company Info|
|Address||225 S. East Street
Indianapolis, IN 46202