Kentucky Farm Bureau Insurance Review

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Products  |  Price  |  Claims  |  Complaints  |  Financials  |  Bottom Line

A member association with a long history, the Kentucky Farm Bureau provides insurance products designed to both protect and serve members. As one of the top-ranked Farm Bureaus in the nation, the Kentucky Farm Bureau’s insurance products are popular throughout the state.

Kentucky Farm Bureau Summary

The Kentucky Farm Bureau was formed in 1919 to work on the behalf of the state’s farmers. Calling themselves the “Voice of Kentucky Agriculture” the KFB has more than 500,000 members and offers those members a wide range of services including banking, estate planning, scholarships, and of course, insurance.

The Kentucky Farm Bureau’s range of insurance products include the big three in personal products, farm insurance, business products, and some health insurance. Some products are sold through affiliated companies.

As a Kentucky company, the KFB serves only the state of Kentucky, with offices in every county. Products are sold through a network of agents across the state.

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Insurance Products

The KFB has a wide range of products for both individuals and businesses. Their personal products include all of the basics as well as some specialty policies, and they also cover multiple types of businesses and farms.

Auto Insurance

The KFB has a basic auto insurance program offering all of the basics as well as common coverage options. From what is presented on the website, their program appears to be free of some of the common gimmicks that are trending in auto insurance today.

The program offers a good list of discounts, including some common discounts and a few different offerings, such as a discount for school bus drivers.

The website promises auto insurance policies tailored to the needs of each individual driver, taking into account how often and how far you drive, among other factors – it should be noted that these factors are generally taken into account for any auto insurance underwriting.

Other Vehicles

KFB also offers boat insurance and policies for ATVS, personal watercraft, and motorcycles

Home Insurance

KFB has a range of different home insurance products for different types of houses and different needs, such as:

  • Special Form Homeowners – which is the standard single-family home insurance policy and includes structure coverage, personal property coverage, and liability
  • Broad Form Homeowners – which has more limits on what perils are included, and offers less comprehensive coverage; this policy is often used for seasonal properties or other properties that don’t need the higher level offered by special form
  • Modified Homeowners – which is the most basic form of homeowner’s coverage
  • Dwelling Fire coverage – a basic form of homeowner’s available at three levels. These policies cover structure and liability but have little personal property coverage an are often used for rental homes
  • Apartment and Condo Insurance – for those who need contents and Liability coverage without structure coverage
  • Mobile Home Insurance – specifically designed for mobile homes
  • Renter’s Insurance

Life Insurance

KFP has a full range of life insurance products, including term and whole life, according to their website, but policy details are not offered. Southern Farm Bureau Life Insurance Company underwrites these policies

Farm Insurance

Not surprisingly, KFB has a strong farm insurance program. They offer Farm Owners Insurance in all three of the levels of their homeowner’s policies (special, broad, and modified). They also have Farm Liability and Farm Equipment and buildings coverage available.

Business Insurance

KFP writes Business Owner’s Insurance policies, which are package policies including basics of commercial coverage such as liability and business property coverage. In addition to the basic policy, there are a number of options available to customize the business policy to each company’s needs.

They also write individualized commercial policies that can provide for the specialty needs of multiple industries.

Health Insurance

KFB has partnered with Anthem Blue Cross and Blue Shield to provide a range of health insurance options for its members.

Additional Products

KFB has several other products on the list, including food insurance through the National Flood Program, Umbrella Insurance, and even coverage for churches.

Retirement Planning

Among the options for retirement planning are a range of annuities, long-term care offered through John Hancock, estate planning, and more.

Kentucky Farm Bureau Rates

Kentucky Farm Bureau doesn’t offer online quoting, and insurance is available only to members, making it very difficult to do a price comparison against other insurance companies.

As a local, members-only, mutual company, KFB is likely to offer relatively good rates. They offer a lot of discounts and have a very specific audience for their products, making it likely the prices are tailored to that market as well.

KFB serves only Kentucky, so it can’t be compared with our other rate test states. Although it was difficult to ascertain on the KFB website, reviews of the company indicate that there is a membership fee required, which means that the cost of that must be taken into account when comparing rates.

Claims

During business hours, claims are reported directly to the insured’s agent, and an after-hours toll-free number 1-866-532-2524 is available outside of those hours. The toll-free line operates from 4:30 p.m. to 9:00 a.m. and 24 hours on Saturday and Sunday.

After the initial report, the claim is assigned to an adjuster in the local claims office, who will then contact the insured within 24 to 48 hours. The process from here is not detailed on the website, but likely follows common auto claims procedures.

Consumer Research and Complaints

The Kentucky Farm Bureau has an A+ rating from the BBB, and there are only eight complaints registered against them in the past three years. Five of those complaints were closed in the past 12 months.

There are very few Kentucky Farm Bureau reviews out there, which is generally a positive thing when it comes to insurance companies. Of the few reviews, there are actually a couple of positive ones, which further bolsters the theory that most customers are generally happy – they haven’t complained and a few have even taken the time to write positive reviews.

Financial Strength

Rating CompanyGradeFinancial Outlook
AM BestAStable
FitchN/AN/A
S&PN/AN/A

Bottom Line

Kentucky Farm Bureau is a local insurance company serving only its members, which cuts out a large portion of the population. Membership appears to be fee-based, which means that those fees are going to cut into any savings from switching insurance companies. The market for which KFB insurance is worth considering is a pretty small one, which makes it difficult to recommend against other, likely cheaper, insurance companies. However – for those who do qualify, the company appears to have a solid reputation.

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

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Review Information

Summary
Reviewer
Eric Stauffer
Review Date
Reviewed
Kentucky Farm Bureau
Author Rating
3

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