Choosing an insurance carrier shouldn’t be overwhelming or confusing. Farm Bureau Insurance works a little differently than other companies. Learn all about it, including its history, where it’s available and who is eligible for coverage in this short guide.
Farm Bureau Insurance’s History
You can thank the American Farm Bureau Federation for Farm Bureau (AFBF). The AFBF, which started as a farmers’ advocate back in 1919, has been working to support farmers’ political and financial interests for a century. Members are eligible for the insurance, which is available through each state’s Farm Bureau office, according to NerdWallet. It isn’t available in all states. In eight states, you can get Farm Bureau Insurance through Farm Bureau Financial Services. In Montana and Wyoming, you can get it through Mountain West Farm Bureau. In the states without a Farm Bureau Insurance company, you can get special rates as a member through partnering insurance carriers such as Nationwide Insurance.
Becoming a Farm Bureau Member
To be eligible for Farm Bureau home insurance, life insurance or any of its products, you have to be a member of the AFBF. If you think that membership in the AFBF is right for you, here’s how to get started with becoming a member.
- Contact your local Farm Bureau.
- Complete the application online, by mail or in person depending on the instructions from your local office.
- Pay your membership fee. The amount runs anywhere from around $20 to $75 annually, as noted by NerdWallet.
Types of Insurance Available
Looking for Farm Bureau home insurance? Health insurance? Auto insurance? Farm Bureau Insurance offers products to cover nearly every aspect of your life, including insurance for your farm or ranch and retirement products. For example, the Michigan Farm Bureau’s insurance includes tax-deferred annuities while Farm Bureau Financial Services offers the ability to set up a college fund or put money in mutual funds and other investments.
Farm Bureau Insurance Financial Ratings
When you’re choosing an insurance carrier, it helps to do research on their financial strengths, ratings and reviews from their customers. NerdWallet points out that most Farm Bureau insurers receive fewer complaints than the average for insurers of comparable size. Most of the Farm Bureau Insurance companies receive excellent or superior ratings on their financial strength, which lets you know that they’re capable of paying claims.
Other Perks of Farm Bureau Insurance
Having the insurance you need at rates you can afford is a great thing. But it’s not all you get. When you have Farm Bureau insurance, you also have access to the discounts and perks that come with membership. Examples include:
- Discounts on farm equipment
- Discounts on prescriptions at participating local pharmacies
- Discounts of 20 percent on stays at participating hotels