Farm Bureau Insurance

What Farm Bureau Insurance does

Farm Bureau Insurance is a Michigan-based mutual insurance company operating as part of the Michigan Farm Bureau Family of Companies, founded in 1949 to serve the members of Michigan Farm Bureau and protect against everyday risks. The company offers a multi-line insurance portfolio spanning personal lines (auto, homeowners, renters, condo, mobile home, life, health, annuities), specialty lines (Lake Estate, Country Estate, recreation, specialty auto), and commercial and agricultural lines (commercial, workers compensation, business auto, farmowners, crop). Distribution is carried out through a statewide local agent network tied to county Farm Bureau offices, supplemented by an online self-service portal, phone/contact center, and digital claims tools such as FB Express Auto.

Revenue is generated through recurring insurance premiums on personal, commercial, and agricultural policies, with quote-based pricing that varies by coverage, risk, and location. The company also operates membership, agricultural advocacy, and community programs (awards, scholarships, Harvest for All), and partners with Blue Cross Blue Shield on dental offerings. The organization is policyholder-owned under a mutual structure with no external parent or PE backing, and concentrates exclusively on the Michigan market.

Technology surface is limited: no proprietary platform, no disclosed AI/ML capabilities, no public API, and no native mobile app. The technology stack is anchored on agent-led service, a web portal, and select third-party integrations such as the Ting electrical fire-prevention device. Leadership includes Donald Simon as CEO and Ben LaCross as President of the Michigan Farm Bureau Family of Companies, with a board of district directors representing member geography.

Name

Farm Bureau Insurance

Legal name

Michigan Farm Bureau Family of Companies

Website

https://farmbureauinsurance-mi.com

Company type

Private

Founded year

1949

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Farm Bureau Insurance is a Michigan-based mutual insurance company founded in 1949 that provides personal, commercial, and agricultural insurance products to individuals, families, farmers, and small businesses through a statewide network of local agents.

Ownership category

akta.pro rank

Product category

Property and Casualty Insurance

NAICS

Direct Insurance (except Life, Health, and Medical) Carriers (52412), Direct Life, Health, and Medical Insurance Carriers (52411), Agencies, Brokerages, and Other Insurance Related Activities (5242)

SIC

Insurance Agents, Brokers & Service (6411), Accident & Health Insurance (6321)

akta.pro primary industry

Crop & Farm Property Insurance (FSAJACAK)

akta.pro secondary industries

Homeowners Insurance (FSAJACAA), Hired & Non-Owned Auto (FSAJABAE)

Keywords

• Personal auto insurance
• Homeowners insurance
• Commercial insurance
• Farm and crop insurance
• Mutual insurance company

Headquarters

HQ city

Lansing

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Insurance Premiums: Farm Bureau Insurance generates revenue through insurance premiums collected from policyholders. This includes auto, home, life, health, business, farmowners, and crop insurance policies. Premiums are collected on a recurring basis (monthly, semi-annual, or annual billing cycles) as part of the policy contracts.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels6 records

Core offering

Farm Bureau Insurance sells personal, commercial, and agricultural insurance policies—including auto, homeowners, life, health, annuities, commercial, workers compensation, business auto, farmowners, and crop—distributed through a statewide network of local agents and an online portal. The company operates as a mutual insurer owned by its policyholders and serves exclusively Michigan residents, families, farmers, and small businesses.

Product overview

Farm Bureau Insurance operates as a multi-product insurance provider offering personal, business, and agricultural insurance solutions through a network of local agents. The core portfolio spans personal lines (auto, home, life, health) and commercial/agricultural lines (farmowners, crop, commercial, workers compensation). Specialty offerings include lake estate coverage, umbrella policies, annuities, and the Ting smart fire prevention device. The company integrates with Blue Cross Blue Shield for dental benefits and provides digital tools like FB Express Auto for claims processing.

Differentiator

Problem solved

Functional benefit

Brands

• Lake Estate Insurance: Specialized insurance coverage for lake properties and estates

Products and services

• Personal Auto Insurance Vehicle coverage policies that protect drivers with customizable coverage options for personal vehicles, available to Michigan individuals and families.
• Specialty Auto Insurance Coverage for specialty vehicles including classic cars, motorcycles, and other unique vehicle types, for Michigan drivers with non-standard vehicles.
• Recreation Insurance Insurance coverage for recreational vehicles, ATVs, boats, and other leisure equipment, targeted at Michigan owners of recreational vehicles.
• Homeowners Insurance Standard homeowner coverage protecting residential properties against covered risks, for Michigan homeowners.
• Lake Estate Insurance Specialized insurance for waterfront properties and lake homes with coverage tailored to unique exposures, marketed under the Lake Estate® sub-brand for owners of lake properties and estates in Michigan.
• Personal Umbrella Insurance Excess liability coverage providing additional protection beyond standard policy limits, for Michigan individuals and families seeking higher liability limits.
• Renters Insurance Coverage for tenants protecting personal belongings and liability in rented dwellings, for Michigan renters.
• Country Estate Insurance Insurance for rural and agricultural properties with larger acreage exposures, targeted at owners of rural estates in Michigan.
• Condo Insurance Coverage for condominium owners protecting the interior of units and personal property, for Michigan condo owners.
• Mobile Homeowners Insurance Specialized coverage for mobile and manufactured homes, for Michigan owners of mobile and manufactured housing.
• Life Insurance Financial protection for families including term life, whole life, and universal life options, for Michigan individuals and families.
• Health Insurance Medical coverage including individual, family, employer group, and Medicare plans, for Michigan residents and employer groups.
• Traditional Plus Member Dental Plan (BCBS) Dental insurance plan offered through a Blue Cross Blue Shield partnership, for Farm Bureau members seeking dental coverage.
• Dental & Vision Insurance Standalone dental and vision coverage options for Michigan members.
• Commercial Insurance Business property and liability coverage for commercial enterprises, for Michigan small business owners.
• Workers Compensation Insurance Coverage for employee injuries and occupational hazards in the workplace, for Michigan employers.
• Business Auto Insurance Vehicle coverage for business fleets and commercial transportation needs, for Michigan businesses with vehicle fleets.
• Farmowners Insurance Specialized coverage for farms and agricultural operations protecting property, equipment, and livestock, for Michigan farmers and agricultural operations.
• Crop Insurance Protection for agricultural crops against yield and revenue losses from natural disasters and market fluctuations, for Michigan farmers.
• Annuities Retirement savings products providing guaranteed income streams, for Michigan individuals planning retirement.

Quantifiable outcome

• Ranked #1 among 20 major U.S. car insurance companies with 5.0 stars for claims handling performance in 2026

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators1 record

Recent moves5 records

Expansion highlights5 records

Regional players

• Shelter Insurance: Midwestern regional mutual insurer offering auto, home, life, and farm products through captive agents. Comparable in farm/agricultural positioning and mutual structure.
• Citizens Insurance (Hanover Insurance Group): Michigan-originated regional P&C carrier offering personal and commercial lines through independent agents. Comparable in regional concentration and product mix, competes for Michigan household and small business share.
• Hastings Mutual Insurance Company: Michigan-based mutual P&C insurer focused on personal and commercial lines in the Midwest. Similar mutual structure, similar Midwestern agricultural exposure, smaller scale.
• Grange Insurance: Regional mutual P&C carrier with multi-line personal and commercial offerings concentrated in the Midwest and South. Comparable mutual-agent distribution and product breadth.
• Frankenmuth Insurance: Michigan-based mutual insurance carrier focused on personal, commercial, and farm lines distributed through independent agents. Comparable in Michigan focus, mutual structure, and farm segment exposure.

Direct peers

• Auto-Owners Insurance: Michigan-headquartered mutual insurance carrier offering personal and commercial lines through independent agents. Closest direct competitor — same mutual structure, same Michigan base, same multi-line agent-distributed model.
• Erie Insurance: Mid-Atlantic/Midwest regional mutual insurer selling through exclusive agents. Comparable mutual-agent model, similar personal/commercial mix, similar claims-service-led positioning.
• Farm Bureau Financial Group: Sister Farm Bureau insurance organization operating across multiple Midwestern/southern states under the same Farm Bureau brand umbrella. Most directly comparable in brand, member-affiliation model, and farm-and-ranch product positioning.

Broad incumbents

• State Farm: Largest U.S. personal lines insurer, also mutual-structured with exclusive agent distribution. Competes head-to-head in Michigan auto, home, and life with materially greater scale and brand spend.
• American Family Insurance: National mutual P&C carrier with strong Midwest presence, exclusive agent distribution, and bundled personal/commercial/farm lines. Direct competitor in Michigan household and farm-owner segments.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/mifarmbureauins
• YouTubeyoutube.com/channel/UCHWGbFHmwzvTkV4KwJqE4QQ
• Facebookfacebook.com/FarmBureauInsuranceMichigan
• LinkedInlinkedin.com/company/farm-bureau-insurance-of-michigan
• Instagraminstagram.com/farmbureaumi

Revenue estimate

Valuation estimate

Number of profiles

Profiles18 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Farm Bureau Insurance