Allstate vs. Depositors: Which Company is the Best Fit for You?

Quick Facts

• Looking at the national averages for car insurance, Depositors offers significantly more affordable prices than Allstate
• Allstate offers more discounts than Depositors Insurance Company
• Depositors offers less expensive average rates for drivers with a DUI charge on their record

Allstate vs. Depositors: Which Company has the Cheapest Car Insurance?

So, you're thinking about switching your auto insurance. After all, you've seen ads from all sorts of companies offering large discounts. But exactly how much can you save by switching?

You might have narrowed it down to Allstate or Depositors, but between the two, which carrier will save you the most?

Looking at the national average rates for both companies, Allstate has average rates that are about 25% per month more expensive than those from Depositors.

But that doesn't necessarily mean Depositors will be the cheaper option for every single driver. After all, auto insurance carriers can offer drastically different rates to each driver depending on rating factors like where you call home, your credit score, your driving record, or even your age (among other things), so premiums could change drastically from person to person.

Wanting to know if Allstate or Depositors is really the right carrier for you? Keep on reading to see how average prices can change based on all of the factors we've mentioned above.

Allstate or Depositors: Average Car Insurance Rates by State

Allstate and Depositors compete against each other in five states, with Depositors offering less expensive rates to the average driver in all of them. Nevada has the most noticable difference, where Depositors prices are over 40% cheaper than insurance rates at Allstate.

But there's more to car insurance than just the state you live in. As we mentioned above, there's a lot of things that go into how auto insurance companies calculate your premiums. Keep reading to find out more.

Which is the Best Company For Young Drivers?

Young drivers -- especially teens -- usually pay a lot for car insurance compared to older drivers. That's generally because young, inexperienced drivers are statistically much more likely to get into an accident that results in an insurance claim, making them much riskier to insure.

That being said, that doesn't mean that teen drivers have to just accept sky-high auto insurance prices. As you can see above, teens who use Depositors save nearly $150 a month compared to those who use Allstate.

Even so, with both carriers, you'll see your premiums decrease significantly by the time you turn 25. Depositors offers the steepest drop, with 25-year-olds paying less than a third of what 18-year-old drivers are charged. Allstate's average rates drop almost 65% during that same period.

Which is the Best Company for Retired Drivers?

Once you approach retirement age, you'll typically enjoy the lowest insurance premiums you'll ever find. You've been on the road for years, and all that experience pays off when it comes to your monthly prices for auto insurance.

So, which company offers the best rates to retired drivers? Depositors gets the edge, with premiums for drivers 65 and older more than 25% more affordable than the national average for Allstate.

Which is the Best Company for Married Drivers?

You may not be aware, but insurance prices tend to be more expensive for those who are single than they are for married policyholders. That's because policies for married drivers normally cover multiple cars, which a lot of companies will offer you a discount for.

When it comes to relationship status, Depositors is the clear winner for single policyholders, with rates around $60 per month less expensive than Allstate, on average. The advantage is also clear for married couples - Depositors offers the most affordable average prices.

Allstate vs. Depositors: Average Rates by Gender

Because men are more likely to get into collisions and get speeding tickets, they run a larger risk of filing a claim with insurance. Therefore, men tend to get higher rates than women.

Typically, women see premiums about 4% a month less with Allstate, and around 6% less with Depositors.

Looking at the data for each carrier specifically, Depositors comes out as the cheapest option for both genders, with average rates 25% less for men and 26% cheaper for women.

Allstate or Depositors: 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.

It's no secret that car insurance can be a complicated subject for most people. There are so many different limits and terms that it can make it pretty confusing to find the right policy.

The two most common policies end up falling into two different types of coverage -- liability only (which covers the other party's property damage and injuries if you cause an accident) and full coverage (which typically refers to having comprehensive and collision coverages in addition to what you get with liability).

If you're looking for state minimum liability insurance, Depositors generally offers more affordable prices of $84 compared to Allstate's $108. When it comes to full coverage policies with similar limits, Depositors again has the edge, with policies about $80 per month cheaper than Allstate, on average.

Is Allstate or Depositors Better for Drivers with Spotty Records?

You've probably seen plenty of commercials from auto insurance carriers offering great rates for good drivers, but that doesn't mean people with less-than-perfect driving records can't save money, too.

Tickets and at-fault accidents will most likely raise your premiums, but is Allstate or Depositors more affordable for drivers with less-than-perfect records?

Which Company is Best for Drivers with Speeding Tickets?

Allstate policyholders can expect their prices to go up an average of $27 a month if they get a ticket, while Depositors usually raises rates around $24 per month, on average.

However, Depositors has less expensive premiums for drivers in both categories -- their rates are around 32% cheaper for drivers with clean records and 29% more affordable for those with a ticket.

Which Company is Best for Drivers After an Accident?

Allstate drivers who get in a collision can expect to see their prices climb by over 30%, while those who have insurance through Depositors will see about a 30% increase.

Overall, drivers who use Depositors end up with the cheaper prices after an accident, with monthly rates averaging $157 compared to Allstate's $229.

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 an accident. For example, Depositors increases average premiums by over $90 a month -- that's over a 45% increase.

If you have a DUI on your record and are looking for more affordable rates, Depositors tends to be the much less expensive option with average premiums of $198 monthly compared to $227 from Allstate.

How does Credit Score Impact Allstate and Depositors Rates?

Often times, your credit score can come into play when companies determine your monthly bill. This isn't always the case (Hawaii, for example, has banned the use of credit score as a rating factor) but it will come into play for many policyholders.

Insurance carriers argue that those with poor credit scores are less likely to pay their bills on time every month, which increases the risk involved on their end, while the opposite is true for those with good credit.

So, which company offers the best prices for drivers with poor, average, or good credit?

Which Company is Best for Drivers with Good Credit?

If you have solid credit, you'll usually find a better deal with Depositors. Policyholders with "excellent" credit can save just under 20% compared to Allstate, and those with "good" scores can also expect to see savings -- around $38 or 22% cheaper each month.

Which Company is Best for Drivers with Bad Credit?

Depositors typically offers lower premiums than Allstate when it comes to drivers with a below average credit score. Drivers with "fair" credit pay about $48 per month less with Depositors compared to Allstate, and those with "poor" scores normally save an average of around $90 a month.

Is Allstate or Depositors Better for Drivers who Work from Home or Have Short Commutes?

Did you know that the amount of time you spend in your car have a sizable impact on your monthly car insurance cost? Usually, the more miles you put on your vehicle each year, the more you can expect to pay for auto insurance.

As you can see in the table above, annual mileage doesn't have much of an impact on how much Depositors charges. However, there's a small difference in monthly prices for Allstate, with policyholders who drive the least paying about $3 less every month compared to those who drive 12,000 miles each year. Still, Depositors is the less expensive option for drivers in both categories.

Allstate vs. Depositors: Compare Rates for Urban, Suburban, and Rural Drivers

We've already mentioned how your home state can play a role in how much you pay for insurance, but the type of area you live in can have a large impact as well. Typically, if you live in a rural area with fewer cars on the road, you'll pay a little less for car insurance, while the opposite is true for people in urban areas.

Depositors boasts the most affordable average prices for drivers in all areas, regardless of if they're urban, suburban, or rural.

For drivers in urban ZIP codes, Depositors offers rates around $174 per month compared to Allstate's $222. People who live in suburban ZIP codes can expect to pay about $139 a month for Depositors and $199 for Allstate. Lastly, those in rural areas tend to get the cheapest premiums from both companies, with average monthly prices coming in at $130 and $174 for Depositors and Allstate respectively.

Allstate vs. Depositors Discounts

You want to save as much money as possible, right? The best way to do that is by taking advantage of as many 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 Allstate and Depositors so that you can easily see which company offers the most discounts and see which ones you might be able to take advantage of.

Allstate blows Depositors away when it comes to the sheer amount of discounts available, offering 40 different discounts to Depositors's 17.

A couple of those are overlapping for things like COVID-19 relief discount, distant student discounts, EFT discounts, and discounts for being a homeowner. Allstate also offers ABS discounts, agency transfer discounts, alert driving discounts, and more that Depositors does not.

On the flip side, Depositors has a couple unique discounts of its own -- employee discounts, group discounts, and intra-agency transfer discounts.

Final Thoughts: Is Allstate or Depositors Best for You?

You've seen the role certain factors have on your car insurance and the different discounts carriers offer. That's all well and good, but when it comes down to it, which insurance company is the best fit for you?

Depositors might be best for you if....

• You like the personalized touch of a small, regional carrier.
• Your neighborhood is in a city.
• You live in a rural neighborhood.

Allstate might be best for you if...

• You value the experience that comes with a large national auto insurance company.
• You want to save extra money with discounts.

We hope this guide has ben a valuable resource as you compare Allstate and Depositors. We also hope we've given you the information you need to make the best decision about 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 Allstate and Depositors. Luckily, sites like Compare.com make it easy for you to do just that. Just enter your ZIP code below and get multiple free quotes from some of the best car insurance carriers in your area, all in just a few minutes.

Allstate vs. Depositors FAQs

Is Allstate or Depositors cheaper?

Looking just at the national average rates, Depositors is the more affordable of the two companies, offering average rates of $148 per month compared to $199 for Allstate. But Depositors won't necessarily be the lowest carrier for every driver, since there are a range of different variables (things like age, gender, driving record, etc.) that play a role in how much you pay.

Who is better, Allstate or Depositors?

Unfortunately, the real answer is "it depends.". No one company is necessarily "better" for each driver -- it all boils down to your unique auto insurance profile.

Why do Allstate and Depositors offer me different rates?

Insurance carriers take a look at several different factors when calculating the prices they charge policyholders. Things such as where your home is, gender, where you call home, age, and sometimes even things like your credit score can all be used. Both Allstate and Depositors calculate rates using different variables, so each one will most likely offer different premiums. The only real way to see which carrier is the most affordable for you is by comparing personalized quotes from a bunch of different companies.

How do I know if Allstate or Depositors is right for me?

The only way to find the car insurance company that's right for you is by getting quotes from a handful of carriers and finding the one best suited for your individual budget. Luckily, sites like Compare.com do all the hard work for you. Just enter your ZIP code and you'll get free quotes from dozens of the best auto insurance companies in your area. With those, you can guarantee you're getting the cheapest price. And who knows, the best carrier for you might not be Allstate or Depositors 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.