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

Quick Facts

• Looking at the national averages for car insurance, Allstate offers significantly less expensive prices than Electric
• Allstate offers more affordable premiums for drivers with a DUI charge on their record
• Electric offers more affordable prices for residents in Connecticut, Kansas, Kentucky, Maine, Missouri, and Virginia

Allstate vs. Electric: 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 hefty discounts, but exactly how much money can you save by switching?

You've maybe even narrowed your search down to Allstate or Electric as your top options, but which company will save you the most?

Looking at the national average rates for both companies, Allstate is quite a bit cheaper than Electric, with rates averaging $199 per month compared to $266 with Electric.

But that doesn't necessarily mean Allstate will be the more affordable option for each driver. Insurance carriers use tons of complex algorithms to calculate premiums, so depending on how good your credit score is or how old you are (among a range of other factors), you could see wildly different rates from the ones above.

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

Allstate or Electric: Average Car Insurance Rates by State

Allstate and Electric compete against each other in six states, with Allstate offering cheaper prices to the average driver in all of them. If you live in Missouri, Electric is the more affordable of the two companies when looking at the overall average premiums. Allstate is the cheaper option in Connecticut, Kansas, Kentucky, Maine, and Virginia.

There's a lot more that goes into your car insurance cost than just where you live. Continue reading to learn more about how other factors will affect your rates.

Which is the Best Company For Young Drivers?

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

But still, even with seemingly sky-high prices, teen drivers can still find ways to save money. As you can see above, teens who use Allstate save nearly $150 a month compared to those who use Electric.

Even so, with both carriers, you'll see your rates decrease significantly by the time you turn 25. For example, average prices for Allstate policyholders drop almost 65% and Electric's rates reduce nearly 55% over that time.

Which is the Best Company for Retired Drivers?

Drivers around retirement age generally enjoy some of the cheapest insurance premiums you'll ever see. After all, they've likely been driving for quite some time, which typically lowers their chances of accidents and other infractions that can increase prices.

When looking at Allstate and Electric specifically, which company is best for retired drivers? Allstate gets the edge, with premiums for drivers 65 and older almost 15% less expensive than the national average for Electric.

Which is the Best Company for Married Drivers?

You may not be aware, but auto insurance rates tend to be more affordable for married policyholders than they are for single policyholders. That's because policies for married couples normally cover more than one car, which several companies will offer you a discount for.

When it comes to relationship status, Allstate is the clear winner for those who are single, with premiums about $82 per month cheaper than Electric, on average. The advantage is also clear for married drivers - Allstate offers the lowest average rates.

Allstate vs. Electric: Average Rates by Gender

You may not know, but car insurance is typically more expensive for men than for women. This is because men are more likely to get into collisions and get tickets, which raises the chances of an insurance claim.

Women normally pay around 4% a month less than men with Allstate, and about 7% less with Electric when compared to their male counterparts.

Looking at the data for each carrier specifically, Allstate comes out as the most affordable option for both genders. On average, women save about $63 per month and men save around $73 with Allstate compared to the average Electric policyholder.

Allstate or Electric: 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.

Auto insurance isn't the easiest topic to understand. There are many different coverages that account for a range of different things. Some protect you and your vehicle, while others only provide coverage for other people's property and health if you cause an accident.

That being said, most policies that many drivers look at fall into two categories -- liability only (which covers the other party's property damage and injuries if you cause a collision) and full coverage (which includes comprehensive and collision coverages that protect your own vehicle, alongside liability).

If you're looking for state minimum limits for liability insurance, Allstate generally offers significantly less expensive prices of $108 compared to Electric's $150. When it comes to full coverage policies with similar limits, Allstate again has the edge, with policies about $95 a month cheaper than Electric, on average.

Is Allstate or Electric Better for Drivers with Spotty Records?

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

It's no secret secret that tickets and at-fault collisions lead to higher rates, but which company -- Allstate or Electric -- has the cheapest prices for drivers with less-than-perfect records?

Which Company is Best for Drivers with Speeding Tickets?

Allstate policyholders can expect their rates to go up an average of $27 per month if they get a ticket, while Electric usually raises premiums around $29 a month, on average.

However, Allstate tends to offer the best prices for drivers both with clean records and with a speeding ticket -- their rates are around 25% more affordable for drivers with clean records and 23% less expensive for those with a ticket.

Which Company is Best for Drivers After an Accident?

Both companies will raise prices pretty significantly if you get into an at-fault accident with Allstate climbing by just under $75. Electric has a less extreme raise, but you can still expect to pay nearly $30 more than you were prior to your first collision.

Overall, drivers who use Allstate end up with the cheaper prices after an accident, with monthly rates averaging $229 compared to Electric Insurance Company's $236.

Which Company is Best for Drivers with a DUI?

If you get a DUI charge, you can expect some pretty significant increases in your monthly insurance bill -- typically a lot more than an accident or ticket. Electric drivers usually see a 46% climb in their auto insurance prices after a DUI charge, while Allstate will generally increase premiums by about 31%.

If you have a DUI on your record and are looking for more affordable prices, Allstate tends to be the much cheaper option with average premiums of $227 monthly compared to $385 from Electric.

How does Credit Score Impact Allstate and Electric Rates?

In many cases, your credit score can come into play when carriers determine your monthly bill. Certain states and companies do not allow for credit score to be used as a rating factor, but it might come into play for quite a few drivers.

Car insurance carriers argue that those with good credit scores are more likely to pay their bills on time each month, which decreases the risk involved on their end, while the opposite is true for those with bad credit.

So, which carrier offers the most affordable rates for policyholders with good, average, or poor credit?

Which Company is Best for Drivers with Good Credit?

If you have a solid credit score, you'll usually find a better deal with Allstate. Drivers with "excellent" credit can save just under 10% compared to Electric, and those with "good" scores can also expect to see savings -- around $41 or 19% less expensive every month.

Which Company is Best for Drivers with Bad Credit?

Allstate typically offers lower premiums than Electric when it comes to drivers with bad credit. Drivers with "fair" credit pay about $64 per month less with Allstate compared to Electric, and those with "poor" scores usually save an average of around $153 per month.

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

How much you drive can have a big impact on your monthly rates. Normally, those who drive fewer miles will end up with more affordable prices since there's less of a chance of getting into a collision and causing an insurance claim.

For both drivers who put 6,000 miles on their vehicles yearly, as well as those who average twice that figure, Allstate offers less expensive rates than Electric. Electric's average prices for drivers with 6,000 annual miles come in about 21% more expensive than Allstate. Those who drive 12,000 miles annually can expect to pay around 29% more with Electric over Allstate.

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

Where your home is can have a considerable impact on your monthly insurance bill. Usually, policyholders who live in less densely populated rural areas will pay quite a bit less than urban drivers due to the small number of cars that are on the roads in those areas.

When comparing these two companies side-by-side, Allstate generally comes out as the most affordable option for drivers in all areas, regardless of if they're urban, suburban, or rural.

In urban areas, Allstate's average prices are about $82 less than Electric Insurance Company. Drivers in suburban ZIP codes pay around $35 less with Allstate compared to Electric. If you live in a rural area, you can expect to save about $88 with Allstate compared to Electric.

Allstate vs. Electric Discounts

Regardless of why you might be in the market for a new car insurance policy, you're always going to want to save as much money as possible, and the best way to do that is by utilizing as many auto insurance discounts as you can.

But where do you even start? With so many discounts out there, it may seem hard to find all the of the ones you can take advantage of.

Below, we've broken down all of the different discounts offered by both Allstate and Electric 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 Electric away when it comes to the sheer amount of discounts available, offering 23 more discounts than Electric.

There are a couple discounts both carriers offer, but Allstate also offers agency transfer discounts, alert driving discounts, annual mileage discounts, and more that Electric does not.

On the flip side, Electric has a couple unique discounts of its own -- electric vehicle discounts, group discounts, hybrid vehicle discounts, and more.

Final Thoughts: Is Allstate or Electric Best for You?

So, we've broken down the average rates for many of the variables insurance companies look at, and we've shown you all the discounts each carrier offers. But, when it comes down to it, which insurance company is the best fit for you?

Allstate might be best for you if....

• You're thinking about moving to another state -- Electric Insurance Company is only available in six states.
• You want to save extra money with discounts.
• You live in a rural area.

Electric might be best for you if...

• You're looking for the best rates in CT, KS, KY, ME, MO, and VA.

We hope this guide helps you get a better idea of the difference between Allstate and Electric. We also hope we've given you the information you need to make the best decision about your car insurance.

At the end of the day, the best way to make sure you're getting the best deal on your insurance policy is to compare quotes from multiple carriers, not just Allstate and Electric. Luckily, sites like Compare.com do all the hard work for you. Simply enter your ZIP codes below and get multiple quotes from some of the best auto insurance companies in your area, all for free.

Allstate vs. Electric FAQs

Is Allstate or Electric cheaper?

Looking just at the national average premiums, Allstate is the more affordable of the two carriers, offering average rates of $199 a month compared to $266 for Electric. That being said, Allstate won't necessarily be the lowest carrier for each driver, since there are lots of different factors that come into play when it comes to your insurance payment.

Who is better, Allstate or Electric?

Sadly, the real answer is "it depends.". One company is not necessarily "better" for every driver -- it all depends on the makeup of your unique auto insurance profile.

Why do Allstate and Electric offer me different rates?

Car insurance companies take a look at a lot of different variables when calculating the rates they charge policyholders. Factors such as age, your driving record, where you call home, gender, and sometimes even things like your credit score can all come into play. Both Allstate and Electric use different formulas, so each one will most likely offer different premiums. The only real way to see which carrier is the cheapest for you is by comparing personalized quotes from several different carriers.

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

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