Farm Bureau Auto Insurance: Cancelled Policy, What Next?

Cancelling your Farm Bureau auto insurance without setting up a new policy will result in an insurance lapse, which will raise your future car insurance rates and could even get you into legal trouble. If you have a past due amount for coverage incurred before cancellation, you may be able to make an online payment for the balance, but this will not reinstate your coverage.

Cancelling Farm Bureau auto insurance without a new policy will result in an insurance lapse, raising future rates

Cancelling Farm Bureau Auto Insurance

If you're thinking of cancelling your Farm Bureau auto insurance, it's important to understand the potential consequences, especially if you don't have a new policy in place. Cancelling without a new policy will result in an insurance lapse, which can have several negative implications.

Insurance Lapse

An insurance lapse refers to a gap in insurance coverage, which occurs when an insurance policy is terminated and not replaced by a new one. This means that during this period, you are uninsured and lack the financial protection that insurance provides. The length of the lapse will depend on how long it takes to secure new insurance coverage.

Higher Future Rates

Insurance companies view an insurance lapse as a sign of higher risk. As a result, when you eventually purchase a new policy, your rates are likely to be higher than they would have been if you had maintained continuous coverage. This is because insurers assume that the reason for the lapse is either a history of making claims or a period of driving without insurance, both of which are considered risky behaviours.

Legal Trouble

In many places, driving without insurance is illegal. If you are caught driving during an insurance lapse, you could face legal consequences, including fines, suspension of your driver's license, or even jail time. These penalties can vary depending on your location and the circumstances.

Alternative Options

To avoid an insurance lapse and its associated consequences, it's recommended to secure a new insurance policy before cancelling your current one. Shopping around for insurance quotes and comparing rates from different providers can help you find the most affordable option. Alternatively, consider using an app or broker that can assist with switching insurance providers and ensure a smooth transition.

You can cancel your insurance by submitting a cancellation request online, contacting your agent, or calling customer service

You can cancel your Farm Bureau auto insurance policy by submitting a cancellation request online, contacting your agent, or calling customer service. Here are the steps you can take to cancel your policy:

Submitting a Cancellation Request Online:

• Log into your Farm Bureau online account.
• Navigate to the relevant page to submit a cancellation request. This may vary depending on your state or insurance provider.
• Follow the prompts to complete the cancellation process. Make sure to review any necessary documentation or information regarding your policy cancellation.

Contacting Your Agent:

• Locate the contact information for your Farm Bureau insurance agent. This may be available on your insurance policy documents or the official website.
• Reach out to your agent directly by phone, email, or in person, depending on their preferred method of communication.
• Express your intention to cancel your auto insurance policy and provide any necessary information.

Calling Customer Service:

• Call the Farm Bureau customer service center at 877-876-2222.
• Inform the customer service representative that you would like to cancel your auto insurance policy.
• Provide any necessary information and follow their instructions to complete the cancellation process.

Remember that cancelling your auto insurance policy without setting up a new one may result in an insurance lapse, which can have consequences such as increased future insurance rates and potential legal issues. It is recommended to have a new insurance policy in place before cancelling your current one. Additionally, review the terms and conditions of your policy to understand any specific requirements or penalties associated with cancellation.

Farm Bureau offers a full range of auto coverage options and discounts

Farm Bureau offers a wide range of auto coverage options and discounts to its members. Anyone can join the Farm Bureau for an annual fee, which varies depending on the membership type and location. The cost of the cheapest level of membership, often called associate membership, is typically around $20 per year.

Farm Bureau provides auto insurance for various vehicles, including cars, motorcycles, RVs, and trucks. Their auto coverage options include liability coverage, which protects you financially if you cause an accident, and auto damage coverage, which covers the cost of repairing or replacing your vehicle in the event of a covered accident.

In addition to these standard coverage options, Farm Bureau also offers several discounts to help you save on your insurance premiums. These discounts vary by state but may include:

• Drive Less, Save More Discount: Members can receive up to a 10% discount on their auto policy premium based on their mileage, up to 12,000 miles.
• Paperless Discount: Going paperless on your qualifying auto policy premium can save you 5%.
• Multi-Line Discount: Insuring both your auto and home with Farm Bureau can save you up to 18%.
• Accident-Free Discount: Good drivers, regardless of whether they are new or longstanding clients, are rewarded with this discount.

Farm Bureau also offers a range of other insurance products, including homeowners, business, and life insurance, as well as classic car insurance coverage for collector and antique cars.

You can save up to 23% on auto insurance by bundling policies

If you cancel your Farm Bureau auto insurance without setting up a new policy, you will experience an insurance lapse. This will cause your future car insurance rates to increase and could even get you into legal trouble. To avoid this, make sure you have a new policy in place before cancelling your current one.

Saving Money by Bundling Policies

Bundling your home and auto insurance is a great way to save money, with some insurers advertising discounts of up to 30%. However, it's important to shop around and compare quotes to ensure you're getting the best deal. Here are some things to keep in mind:

• Discounts: The average bundling discount is around 14%, but some companies offer higher discounts. For example, State Farm offers an average discount of 23%, while USAA offers a discount of up to 10%.
• Convenience: Having all your policies with one company can make it easier to manage your insurance and keep track of payments and customer service inquiries.
• Single deductible: Some companies, like Progressive, offer a single deductible for both your home and auto policies if they are damaged in the same event.
• Drawbacks: Bundling can discourage price shopping, as it's easier to renew with the same company each year. It may also be less convenient if your auto insurance company partners with a different company for home insurance.
• Not always cheaper: In some cases, you may find cheaper rates by purchasing your auto and home insurance from separate companies. This is especially true if you have high-cost auto insurance or if your home insurance policy is the more expensive part of the bundle.

When deciding whether to bundle your policies, be sure to compare quotes for both bundled and separate policies. Consider the discounts offered, the convenience of having all your policies in one place, and the overall cost to determine which option is best for you.

You must be a member of the Farm Bureau to purchase auto insurance

To purchase auto insurance from the Farm Bureau, you must be a member of the Farm Bureau. Membership in the Farm Bureau is required to purchase auto insurance, as well as other types of insurance such as crop, commercial, farm, renter's, condo, mobile home, motorcycle, boat, RV, and homeowner's insurance.

Anyone can join the Farm Bureau for an annual fee, which varies depending on location. The cheapest level, often called associate membership, generally costs $20 a year. People who work in agriculture can pay more for a regular membership, which gives them voting rights within the American Farm Bureau Federation. Membership can be obtained through your state's Farm Bureau chapter.

Once you have a Farm Bureau membership, you can purchase auto insurance through one of several companies, depending on your state. In many states, a statewide Farm Bureau insurance company writes and sells its own policies. In other states, members can get discounted insurance rates at partner companies.

By being a member of the Farm Bureau and purchasing auto insurance through them, you can take advantage of the Farm Bureau's discounted rates and additional perks, such as discounts on agricultural equipment, travel, prescription drugs, hotel stays, rental cars, and theme parks.

Frequently asked questions