AFR vs. Equity: Which Company is the Best Fit for You?

Quick Facts

• Based on national averages for auto insurance, AFR offers cheaper rates than Equity
• AFR offers more affordable premiums for couples purchasing insurance together
• Equity offers less expensive average rates for drivers with a DUI charge on their record

AFR vs. Equity: Which Company has the Cheapest Car Insurance?

So, you're considering switching your auto insurance. You've probably seen commercials and billboards from companies offering huge discounts, but exactly how much money can you save by switching?

You've maybe even narrowed your search down to AFR or Equity as potential options, but between the two, which company will offer you more affordable prices?

As you can see, Equity is about $28 more per month than AFR when looking at the national average rates for auto insurance.

Even so, that doesn't mean AFR will necessarily be less expensive than Equity for every driver. Car insurance companies use a variety of complex algorithms to calculate premiums, so depending on how clean your driving record is or how old you are (among a wide array of other factors), you could see wildly different prices from the ones above.

So, if you want to find out which of AFR or Equity is really the best for you, keep reading to see average premiums for each carrier broken down by a range of different rate factors.

AFR or Equity: Average Car Insurance Rates by State

AFR and Equity only compete against each other in Oklahoma, where AFR offers the cheaper average rates. For Oklahoma residents, undefined offers insurance for undefined per month on average. undefined's average prices come out to be more expensive, at undefined monthly.

That being said, there's a lot more that goes into your auto insurance payment than just where you live. Read on to learn more.

Which is the Best Company For Young Drivers?

Young drivers -- especially teens -- generally pay a lot for car insurance compared to older drivers. That's because young, inexperienced drivers are statistically much more likely to get into accidents since they have less experience on the roads.

But that doesn't mean that teen drivers have to just accept sky-high auto insurance premiums. As you can see above, teens who use AFR save more than $150 a month compared to those who use Equity.

However, both carriers will decrease rates by the time drivers turn 25. Equity offers the steepest reduction, with 25-year-olds paying less than a third of what 18-year-old drivers are charged. That being said, AFR still has the most affordable premiums at $135 a month.

Which is the Best Company for Retired Drivers?

When it comes to car insurance, patience and experience pay off, with drivers around retirement age paying some of the lowest rates out there.

When looking at AFR and Equity specifically, which company is best for retired drivers? AFR gets the slight edge here, with average prices coming in at around $124 monthly compared to Equity's $128. That being said, that difference is less than 5%, which means it ultimately will come down to other factors, such as your credit score or where you live.

Which is the Best Company for Married Drivers?

Did you know that insurance premiums are usually cheaper for married couples than they are for single drivers? That's typically because married drivers tend to own and insure more than one car, which can often earn you a discount.

When it comes to relationship status, AFR is the clear winner for single policyholders, with rates about $46 per month more affordable than Equity, on average. It's not quite so glaring for married policyholders, where drivers who use AFR save around 2% a month.

AFR vs. Equity: Average Rates by Gender

Men are statistically more likely than women to get pulled over for speeding or get into an accident. That means when it comes to auto insurance men will normally end up paying a little more.

Men generally pay about $4 per month more than women with AFR, while with Equity, the difference is closer to $21 a month.

When it comes to the cheapest prices for each gender, AFR comes out as the lowest option for both genders, with average rates $36 less for men and $19 cheaper for women.

AFR or Equity: Compare State Minimum vs. Full Coverage Rates

*State minimum value indicates liability-only policies at each state's minimum bodily injury and property damage (BI/PD) limits

**Full coverage indicates state minimum BI/PD limits with collision and comprehensive coverages added to policy.

For most people, car insurance isn't the easiest topic to understand. There are so many different limits and terms that it can make it pretty confusing to find the right policy.

Even so, most policies that many drivers look at fall into two categories -- liability only (which provides bodily injury and property damage coverage for other drivers and passengers if you cause a collision) and full coverage (which includes comprehensive and collision coverages that protect your own vehicle, alongside what you get with a liability policy).

If you're looking for state minimum liability limits, AFR typically offers slightly cheaper prices of $65 compared to Equity's $67. When it comes to full coverage policies with similar limits, AFR again has the edge, with policies around $55 per month less expensive than Equity, on average.

Is AFR or Equity Better for Drivers with Spotty Records?

It's no big secret that drivers who are accident-free get better deals on their insurance. But even if you have a spotty record, you can still find plenty of ways to save some cash on your monthly bill.

It's no secret secret that accidents and tickets lead to higher premiums, but which carrier -- AFR or Equity -- has the cheapest prices for drivers with spotty records?

Which Company is Best for Drivers with Speeding Tickets?

AFR policyholders can expect their rates to go up an average of $35 a month if they get a ticket, while Equity usually raises premiums about $6 per month, on average.

But AFR tends to offer the best prices for drivers both with a speeding ticket and with a clean record. Drivers with a clean record can save around $56 a month and drivers with a ticket can save about $27 per month with AFR Insurance.

Which Company is Best for Drivers After an Accident?

After an accident, drivers who have their car insurance through AFR can expect to see around an $0 -- or about 0% -- increase in their insurance rates. Drivers who use Equity for their auto insurance will see a monthly bill around $25 (or 14%) more expensive after reporting an accident to their insurance company.

Overall, AFR offers the most affordable prices for drivers with an at-fault accident on their records, with monthly premiums averaging $98 compared to Equity Insurance Company's $179.

Which Company is Best for Drivers with a DUI?

If you get a DUI charge on your record, it's probably going to cost you more than a simple speeding ticket or even a collision. For example, AFR increases average rates by over $100 a month -- that's over a 55% increase.

If you have a DUI on your record and are looking for more affordable prices, Equity tends to be the much more affordable option with average premiums of $166 a month compared to $220 from AFR.

How does Credit Score Impact AFR and Equity Rates?

In many cases, your credit score can be used as one of the variables to determine your monthly car insurance rates. This isn't always the case (California, for example, has banned the use of credit score as a rating factor) but it will come into play for lots of drivers.

The reasoning auto insurance companies use is that policyholders with good credit will be more likely to pay their bills on time; so they'll reward them with cheaper prices, while those with poor credit will normally be forced to pay more.

Looking at AFR and Equity specifically, which one has the best premiums for drivers at different credit levels?

Which Company is Best for Drivers with Good Credit?

Which Company is Best for Drivers with Bad Credit?

Is AFR or Equity Better for Drivers who Work from Home or Have Short Commutes?

How much you drive can have a large impact on how much car insurance carriers will charge for coverage. Typically, those who drive less will end up with cheaper prices since there's less of a chance of getting into an accident and causing an insurance claim.

In this case, neither AFR or Equity report increasing rates for drivers with higher annual mileage figures. Still, AFR comes out as the lowest for drivers at both intervals, whether they put 6,000 or 12,000 miles on their car annually, with average premiums of $137 per month for both.

AFR vs. Equity: Compare Rates for Urban, Suburban, and Rural Drivers

Where you call home can have a sizable impact on your monthly insurance bill. Generally, policyholders who live in heavily-populated urban areas will pay quite a bit more than rural drivers because of the number of vehicles that are on the roads in those areas.

When comparing these two companies side-by-side, AFR usually comes out as the cheapest option for drivers in all types of areas, no matter if they're urban, suburban, or rural.

Policyholders in rural ZIP codes see the most affordable rates from both carriers, but AFR comes out on top with average prices about $109 per month. AFR also has less expensive average premiums for drivers in urban and suburban ZIP codes -- a 15% and 12% a month respective difference when compared to Equity policyholders in similar areas.

AFR vs. Equity Discounts

You want to save as much money as possible, right? The best way to do that is by utilizing as many auto insurance discounts as you can.

But where do you even start? With what seems like a million different discounts out there, it may be difficult to find all the ones you can take advantage of.

In the section below, we've compared all of the different discounts offered by AFR and Equity so that you can easily see which company offers the most discounts and see which ones you might be able to take advantage of.

Overall, Equity has a slight advantage when it comes to total number of discounts. AFR offers a grand total of nine discounts, while Equity has 10.

There are a couple discounts both companies offer, but Equity also offers agency transfer discounts, education discounts, group discounts, and more that AFR does not.

On the flip side, AFR has a couple unique discounts of its own -- discounts for being a good driver, good payer discounts, multi-policy discounts, and more.

Final Thoughts: Is AFR or Equity Best for You?

You've seen the effect certain factors have on your car insurance and the different discounts carriers offer. But, at the end of the day, which carrier is the best carrier for you and your specific needs?

AFR might be best for you if....

• You have an at-fault collision on your record.
• You live in an urban area.
• You have a short drive to work everyday.

Equity might be best for you if...

• You have a DUI charge on your record.
• You care about discounts (Equity offers the most).

We hope this guide helps you get a better idea of the difference between AFR and Equity and that you can now make a more informed decision when it comes to your insurance.

But, at the end of the day, there's only one way to know for sure that you're getting the best possible deal on auto insurance -- comparing quotes from multiple companies, not just AFR and Equity. Luckily, Compare.com makes it easy for you to do just that. Simply enter your ZIP codes below and get multiple quotes from some of the best car insurance carriers in your area, all for free.

AFR vs. Equity FAQs

Is AFR or Equity cheaper?

Looking just at the national average prices, AFR is the more affordable of the two companies, offering average rates of $137 per month compared to $165 for Equity. That being said, AFR won't necessarily be the cheapest company for everyone, since there are several different variables that come into play when it comes to your insurance cost.

Who is better, AFR or Equity?

Unfortunately, the only answer we can give you is "it depends.". No single carrier is "better" for each driver -- it all comes down to what your unique auto insurance profile looks like. For example, Equity offers cheaper premiums for drivers with a recent DUI, while AFR is less expensive for drivers with excellent credit.

Why do AFR and Equity offer me different rates?

Insurance carriers take a look at a lot of different factors when calculating the rates they charge drivers. Things like gender, your driving record, age, where you live, and sometimes even things like your credit score can all come into play. Both AFR and Equity calculate prices using different formulas, so each one will most likely offer different premiums. The only real way to see which company is the most affordable for you is by comparing personalized quotes from many different companies.

How do I know if AFR or Equity is right for me?

The only way to find the car insurance carrier that's right for you is by getting quotes from several carriers and finding the one best suited for your individual budget. Luckily, Compare.com does all the hard work for you. Just enter your information once and you'll get free quotes from dozens of the best auto insurance companies in your area. That way, you can guarantee you're getting the best premium. And who knows, the best company for you might not be AFR or Equity at all!

Methodology

All of the data referenced in this article has been gathered in collaboration with Quadrant Information Services. We analyzed more than 2.5 million rows of carrier-reported data to calculate the average rates referenced above. All rates are based on an insurance profile of a single-vehicle policy for a driver that owns a 2016 Honda Accord. For more information on how we calculate rates, please reference our data methodology.