Farm Bureau Insurance Review

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Farm Bureau Insurance Summary

Farm Bureau is the primary subsidiary of FBL Financial Group, a massive financial services holding company offering a number of insurance and financial products. FBL sells financial services, life insurance, and property & casualty products through its many subsidiaries.

Farm Bureau traces its roots back to the 1930s, when it began as a mutual insurance company for members of the Farm Bureau chapter in Iowa. It is currently headquartered in Des Moines, Iowa and employs around 1,600 people with a network of 4,000 independent field agents.

FBL offers policies in Iowa, Nebraska, Minnesota, Utah, South Dakota, Wisconsin, Arizona, Idaho, Montana, New Mexico, Oklahoma, North Dakota, Wyoming and Kansas.

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Insurance Products

Auto Insurance

Car insurance options for Farm Bureau policies are fairly standard among the industry. Liability-only policies with protection for property damage and injuries are available, along with full-coverage policies with collision, comprehensive and uninsured motorist.

Optional features include new-car replacement, death indemnity insurance, roadside assistance and rental reimbursement. People living or traveling in an RV can also add personal property insurance to protect their belongings inside.

Customers with multiple policies can utilize the Farm Bureau Member’s Choice plan for extra savings. This is a bundled policy that combines auto, home and liability insurance into a single policy with one premium and one deductible per occurrence. Therefore, if your home and car are damaged in the same storm, only one deductible applies for the entire loss. Additionally, losses over $50,000 can receive a deductible waiver of up to $500.

Aside from the bundle option, Farm Bureau provides discounts for drivers with the following criteria:

  • Low annual mileage
  • Good students
  • Accident-free drivers
  • Full premium payments

Home Insurance

Farm Bureau provides property insurance for homes, farms, ranches, mobile homes and condominiums. It also offers renter’s insurance.

Coverages vary depending on the type of policy being issued and the needs of the policyholder. In general, property insurance provides protection for the structure and its contents against certain perils.

Homes can be insured at three levels:

  1. 80% of their replacement cost
  2. 125% of the replacement cost
  3. Actual cash value (includes depreciation)

Members who already carry another insurance policy through Farm Bureau, can utilize the Member’s Choice plan to bundle all of their policies together under a single premium and deductible.

Life Insurance

Life insurance is a major product offered by Farm Bureau, and the company sells a variety of policies to meet the specific needs of various consumer groups.

The two basic types of insurance offered are term and permanent. Term insurance policies cover the customer for a specified number of years and have no cash value. Farm Bureau sells four main term products:

  • Choice Term – Sold in 10, 15, 20 or 30 year segments. Coverage begins at $100,000.
  • Simple Term – Coverage between $20,000 and $75,000. This policy can be purchased with minimal paperwork and no medical exam.
  • Return of Premium – Customer receives their base premiums back if they live past the end of the policy term.
  • First Step Children’s Term – A special type of life policy that lasts until an individual turns 25.

Permanent life has no set duration and lasts as long as premiums are paid. They tend to be much more expensive than term policies, because they have an attached investment aspect to them.

Farm Bureau also sells a number of permanent life insurance policies:

  • AccumuLife – Claimed to be an investment that will grow the policy’s cash value sooner than other types of life insurance.
  • AllLife Insurance – Offers protection and special coverage for customers who become diagnosed with qualifying illnesses.
  • Generation Builder – Child’s policy that gives the option of purchasing additional coverage later in life.
  • Universal Life – Guaranteed coverage with flexible payments.
  • Simple AccumuLife – Designed primarily to cover final expenses.

Additional Products

Aside from its primary products, Farm Bureau provides a number of other financial services:

  • Specialized farm and ranch products for the property, vehicles, livestock and crops. Farm-specific liability insurance is available as well.
  • Liability and umbrella policies for homeowners. These provide protection against lawsuits in the event that the insured causes property damage or injuries to another party.
  • Supplemental health, long-term care and disability income, all of which provide additional benefits beyond what major medical insurance covers.

Farm Bureau Insurance Price (Rates)

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Farm Bureau sells auto policies through independent agents, which tends to increase the price of policies over direct insurers like GEICO and Esurance. This is not true in all cases, but anyone concerned about price as a major purchasing point should get quotes from multiple insurance companies to compare rates.


Farm Bureau claims can be filed online, over the phone or through a local agent’s office. At this time, online or over-the-phone claims can only be filed by policyholders in Arizona, Kansas, Iowa, Nebraska, Minnesota, Utah, South Dakota and New Mexico. Policyholders in all other states need to contact their agent.

Individuals within the states listed above can file a claim 24/7 at 1-800-226-6383, or online through the Farm Bureau website. Only insureds with accounts on the site will be able to file a claim this way.

Once the claim has been filed, an adjuster will be assigned. He or she will be the primary claim handler from that point on. The adjuster’s contact information and other claim info is accessible through the Farm Bureau website.

Life insurance claims are handled separately and must be filed by calling 1-800-247-4170 between 8am and 4:30pm Central Time. A death certificate and beneficiary statement will be required for processing.

Consumer Research and Complaints

FBL Financial Group has been accredited with the Better Business Bureau since 1955 and has an A+ rating. Just 26 complaints are listed on the site for the last three years, with 10 having been closed in the previous 12 months. Half of the complaints are billing or collection issues, while the other half are regarding products or services.

Farm Bureau auto insurance ranks very poorly on Consumer Affairs’ website, with 97% of their customer reviews being 1 out of 5 stars. It should be noted that consumers who leave reviews on complaint boards tend to have an issue with the organization, so it is not uncommon for insurance companies to score on the lower end of the scale.

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Bottom Line

Farm Bureau is a good choice for anyone that wants to protect farm equipment, ranches, etc. If you are simply looking for auto and home insurance, you may find better pricing elsewhere.

For a list of companies that we recommend, visit our Best Insurance Companies page.

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  1. Larry Claassen says

    Had Farm Bureau insurance for nearly 40 years, only two small claims in that time, always paid premiums on time. Once I thought I had paid my premium with online banking but mistakenly neglected to click send. Two weeks after premium deadline I got a letter saying my policies had been canceled 12 days earlier. I called my agent in near panic, concerned that I had not been covered for two weeks and didn’t know it. I was told that there was a grace period (never heard of it before) and that I was really covered, not really cancelled if I paid premium in next two weeks. The letter from them specifically said my policies “had been canceled”. I asked how I could still be covered with canceled policies. Agent said the wording was “…a scare tactic the financial dept. used…” to get me to pay quickly. I contacted the state insurance oversight division with a complaint, and they investigated to find out why I wasn’t sent a registered letter from Farm Bureau which is required by law. Bottom line – being a model policy holder for four decades is of no concern to this company, and I dropped them for a company that gave me the same coverage for $200 a year less. Very disappointed.

  2. Jake says

    Not shocking at all to see so many negative comments across the board. What’s the point of insuring your vehicle (with FULL coverage) if they just make every excuse in the book to cover as little of the damage cost as possible? Blame the driver, claim that the damage is unrelated to the accident…The excuses they come up with are mind-blowing. Total [Redacted] rip-off.

  3. Fran says

    All insurance companies need to be replaced with government operated offices. There is too much corruption and rip-offs. A person pays to have insurance for years and when it is needed it is not there. Flushed down the toilet.
    All the same……..Ponzi Schemes!!!

  4. Lisa says

    I had Farm Bureau in Georgia they were excellent. Moved back home to Nebraska and it has been nothing short of a total nightmare. so if I don’t get results tomorrow from whoever is above this agent I am prepared tof file complaints. I need to find out where to start other than on my facebook page.

  5. carolyn ballard says

    Had a flood in home not as results of slow rising water but micro burst documented by weather bureau…flooding over in 20 min..refused to pay due to it was flood and had no flood insurance…no need did not live in flood plain…understood…in the next week had drain leak in slab…again denied did not cover drain leak… nor would pay for access…

  6. Stephanie says

    I am very disappointed in this company. After having them for 24 years we were cancelled with no help to get the issue explained. The agents had very poor customer service. Please think twice before using this company.

  7. Robert gamble says

    Worst service ever! yadkinville, NC branch, [Redacted] I’ve been with farm bureau 25 years , they have stole my money for that long. When you need their help, they act as if you did something wrong. I will do everything I can to take their business. Do not do business with these [Redacted]!!

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