Difference Between Florida Farm Bureau Insurance and Geico (With Table)

As life can take unexpected turns, it is expected of one to be prepared for any financial or accidental losses. Insurances are in effect to manage any unexpected risks. They can safeguard one from being subjected to any financial loss. So, one must be aware of different insurance policies before choosing them.

Florida Farm Bureau Insurance vs Geico

The difference between Florida farm bureau insurance and Geico is that Geico is a well-known American insurance company that offers its services around the country, and the Southern Farm Bureau Casualty Insurance Group’s popular subsidiary in Florida is the Florida Farm Bureau Insurance. The services provided by both of them have a few differences.

Florida Farm Bureau Insurance is a reputed insurance company that operates in the state of Florida, United States of America. The Southern Farm Bureau Casualty Insurance Group, which owns this company as its complete subsidiary, is an insurance company over 50 years old and seeks to provide insurances at low rates.

Government Employees Insurance Company or commonly known as Geico is a nationwide famous auto insurance company. It is also a wholly-owned subsidiary of the popular conglomerate Berkshire Hathaway. It was founded in 1936 and has consistently been efficient in addressing the concerns of the customers and support them to choose the right insurance plan.

Comparison Table Between Florida Farm Bureau Insurance and Geico

Parameters of Comparison Florida Farm Bureau Insurance Geico
SubsidiaryThe brand Southern Farm Bureau Casualty Insurance Group in the United States completely owns this particular company as its subsidiary.Geico, the nationwide insurance company, has also been a wholly-owned subsidiary of the popular conglomerate Berkshire Hathaway since the year 1996.
DiscountsSafe driver, good student, multiple vehicles, and younger driver training are the factors to qualify for the discount in Florida Farm Bureau Insurance.Along with the aforementioned, Geico also provides discounts on insurance for multiple policies, vehicle safety, federal employee, and many more.
AvailabilityFlorida Farm Bureau Insurance is only provided for the residents of the state of Florida and is not allowed to other American states.Geico insurance is provided across the United States of America. 50 states in the federal are eligible to avail his auto insurance.
CoverageThis Florida Farm Bureau Insurance provides coverage in situations of collision, bodily injury liability, personal injury protection, and medical payments.Apart from the aforementioned, Geico insurance covers roadside assistance, rental car reimbursement, accidental forgiveness insurance, comprehensive and property damage liability.
Unique coverageIt provides pet injury coverage where up to 500 dollars will be reimbursed for a pet injured in a covered car accident.In Geico insurance, drivers of cab services like Uber will be covered while driving around to pick or drop the passengers.

 What is Florida Farm Bureau Insurance?

The Farm Bureau Insurance of the state of Florida is the most popular auto insurance available in Florida. The star brand insurance group named Southern Farm Bureau Casualty Insurance Group owns this particular company in the role of its subsidiary. That well-known insurance group has been in this business for more than 50 years. The leaders of the insurance group envisioned providing insurance with lower fees.

Southern Farm Bureau Casualty Insurance Group was also committed to providing a better customer care service than any other insurance group. Currently, it is a 2-billion-dollar company with high ratings. There exist two different companies under the authority of the Farm Bureau Insurance Group of Florida.

The Farm Bureau Insurance company of the state of Florida provides auto insurance within Florida. It is limited to the residents of the Florida state and is serviced by the agents living in every county of the state. Important eligibility of getting insurance coverage is to be a member of a county Farm Bureau.

According to the reviews, Florida Farm Bureau Insurance seems to have higher customer reviews, but there are complaints of dissatisfaction with agents by long-term customers. The Florida Farm Bureau Insurance provides a lot of areas of coverage.

What is Geico?

Government Employees Insurance Company is the abbreviation of the term Geico. The company Geico is a completely owned subsidiary of the business conglomerate Berkshire Hathaway. Geico is an auto insurance company that provides insurances and coverage to eligible customers all over the United States of America.

It was founded in the year 1936 by Leo Goodwin and Lillian Goodwin. Geico has been in a consistent effort of addressing the concerns of the customers and help them choose the right and apt insurance plan. Geico has provided insurance coverage to more than 24 million vehicles in the United States. 

The Geico company works in all 50 states and remains the second-most famous and popularly used auto insurance provider of the United States. The company is also popular for its innovative advertising campaigns. The company provides a variety of interesting coverages for insurance like mechanical breakdown insurance and rideshare coverage.

Geico is also one of the most suggested and critically acclaimed insurance providers by experts. Better Business Bureau, a popular expert reviewer, has rated Geico with an A+, and AM Best has rated Geico with an A++. In a recent study by J.D. Power, it has also been found that Geico’s customers are mostly satisfied with the services they have been receiving.

Main Differences Between Florida Farm Bureau Insurance and Geico

  1. The Farm Bureau Insurance in Florida is wholly or completely owned by the Southern Farm Bureau Casualty Insurance Group in the role of a subsidiary. The latter is a wholly-owned subsidiary of the famous Berkshire Hathaway company.
  2. Florida Farm Bureau Insurance is provided only to the residents of the state of Florida. Geico insurance is provided across all the 50 states of the United States of America.
  3. Florida Farm Bureau Insurance covers areas like collision, bodily injury liability, and property damage liability. Geico company insurance covers areas like roadside assistance and rental car reimbursement.
  4. There are discounts provided for the Florida Farm Bureau Insurance to a safe driver and good student. There are some other discounts for Geico insurance, like multiple policies and vehicle safety.
  5. Florida Farm Bureau Insurance company is rated highly by the customers. Geico insurance is rated better by expert insurers.  

Conclusion

Overall, several factors need to be considered before deciding on the Insurance provider. In an uncertain life, it becomes necessary to insure ourselves and our vehicles. Such insurance can safeguard one from any unexpected accidents. These two insurance providers are well known in the United States.

Florida Farm Bureau Insurance company is very well rated by the customers, but there are few dissatisfactory comments from the long-term customers of the company. Meanwhile, Geico insurance company is acknowledged to be the better insurance provider in the market. Experts and experienced business reviewers rate Geico highly with A+ ratings. Customers should analyze the pros and cons before fixing an insurance provider.

References

  1. https://doi.org/10.1108/10878570710833741
  2. https://doi.org/10.1086/466933
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