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

Quick Facts

• Looking at the national averages for insurance, Allstate offers slightly more affordable rates than Hallmark Financial
• Allstate has less expensive premiums for policyholders who live in suburban areas
• Hallmark Financial offers cheaper average prices for policyholders who are looking to purchase insurance with a spouse

Allstate or Hallmark Financial: Which Company has the Cheapest Car Insurance?

So, you're considering switching to a new insurance policy. After all, you've seen ads from all sorts of companies offering hefty savings. But exactly how much can you save by switching?

You've maybe even narrowed your search down to Allstate or Hallmark Financial, but which one will save you the most?

As you can see, Hallmark Financial is around $12 more a month than Allstate when looking at the national average rates for car insurance.

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

Luckily, we've broken down average prices from both Allstate and Hallmark Financial by multiple different rate factors, so read on to find out which company is the best for you.

Allstate vs. Hallmark Financial: Average Car Insurance Rates by State

Allstate and Hallmark Financial only compete against each other in three states, with Allstate offering less expensive rates to the average driver in all of them. If you live in Nevada, Hallmark Financial is the cheaper of the two companies when looking at the overall average premiums. Allstate is the more affordable option in Arkansas and Oklahoma.

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

Which is the Best Company For Young Drivers?

You might already know that teen drivers usually pay a lot more for auto insurance than any group on the road. It's generally because teen drivers are statistically much more likely to get into an accident that results in an insurance claim, making them much riskier to insure.

Even so, that doesn't mean teen drivers can't still save money on their insurance. Just look at the table above -- where 18-year-old drivers who have Allstate for their car insurance pay 6% less than those who use Hallmark Financial. It's worth noting that Allstate offers auto insurance in 47 different states compared to Hallmark Financial's three, which can skew the average prices a bit, but the difference here is still considerable.

However, with both companies, you'll see your premiums reduce significantly by the time drivers turn 25. Hallmark Financial offers the steepest reduction, with 25-year-olds paying less than a third of what 18-year-old drivers are charged. That being said, Allstate still has the most affordable rates at $167 monthly.

Which is the Best Company for Retired Drivers?

Drivers around retirement age normally enjoy some of the lowest insurance prices out there. After all, they've likely been driving for quite some time, which typically decreases their chances of collisions and other infractions that can raise premiums.

When looking at Allstate and Hallmark Financial specifically, which carrier is best for retired drivers? In this case, Allstate has the slight edge, with rates about $2 per month less than Hallmark Financial. That being said, the difference is only around 5%, so other variables (like your credit score or where you live) will likely come into play when determining which company has the cheapest prices for you.

Which is the Best Company for Married Drivers?

You may not be aware, but car insurance premiums tend to be less expensive for married drivers than they are for single drivers. That's normally because married policyholders tend to own and insure several vehicles, which can often earn you a discount.

When it comes to relationship status, Allstate is the winner for single policyholders, with prices almost 10% a month cheaper than Hallmark Financial, on average.

Allstate or Hallmark Financial: Average Rates by Gender

Because women are less likely to get speeding tickets and get into collisions, they run a lower risk of filing a claim with insurance. So, insurance carriers will often charge women less than men.

Normally, women see premiums about $10 per month more affordable with Allstate, and around $20 less with Hallmark Financial.

Looking at the data for each carrier specifically, Allstate offers the lowest average rates for both men and women, with average premiums $18 less for men and $7 cheaper for women.

Allstate vs. Hallmark Financial: 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, insurance isn't the easiest topic to understand. There are many different coverages that account for a variety of different things. Some protect you and your car, while others only provide coverage for other people's property and health if you cause a collision.

The two most common policies end up falling into two different types of coverage -- liability coverage (which provides bodily injury and property damage coverage for other drivers and their passengers if you cause an accident) and full coverage (which usually refers to having collision and comprehensive coverages in addition to what you get with a liability policy).

Looking specifically at state minimum liability insurance, Allstate has the slight edge, with average monthly prices coming in at $108. If you want a full coverage policy with the same state minimum limits, Allstate again has the edge, with policies averaging about $289 a month to Hallmark Financial's $306.

Is Allstate or Hallmark Financial Better for Drivers with Spotty Records?

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

You'll probably end up paying more with speeding tickets and at-fault accidents on your record, but which of these two carriers offers the most affordable premiums to drivers with less-than-ideal driving records?

Which Company is Best for Drivers with Speeding Tickets?

Policyholders who use Allstate for their auto insurance can generally expect their monthly bill to go up around 15% after getting a speeding ticket. Hallmark Financial policyholders can expect a less drastic increase of about 7%.

But Allstate is typically the less expensive option for drivers both with a ticket and with a clean record, offering prices that are $38 and $25 cheaper, respectively, compared to Hallmark Financial.

Which Company is Best for Drivers After an Accident?

After an accident, drivers who have their car insurance through Allstate can expect to see around an $73 -- or about 32% -- rise in their insurance rates. Drivers who use Hallmark Financial for their auto insurance will see a monthly bill around $35 (or 15%) more expensive after reporting a collision to their car insurance company.

At the end of the day, drivers who use Allstate end up with the cheaper prices after an accident, with average premiums coming in at $229 compared to Hallmark Financial's $229.

Which Company is Best for Drivers with a DUI?

On average, a DUI offense is going to cost you much more than a single collision or speeding ticket when it comes to your insurance bill. Allstate drivers usually see a 31% raise in their auto insurance prices after a DUI charge, while Hallmark Financial will usually climb rates by about 8%.

Hallmark Financial has the overall cheapest premiums for drivers with a DUI on their records at $212 per month, but it's worth noting that Allstate's average rates come from 47 states compared to just three for Hallmark Financial, so the data may be skewed slightly.

How does Credit Score Impact Allstate and Hallmark Financial Rates?

Often times, your credit score can come into play when companies calculate your monthly bill. This isn't true for everyone (for example, Hawaii and California are two states that ban the practice entirely), but it will come into play for many drivers.

Car insurance carriers argue that someone with bad credit is less likely to pay their bills on time, which makes them riskier to insure. Because of that, policyholders with bad credit will often be forced to pay more.

So, which carrier offers the lowest prices for drivers with poor, average, or good credit?

Which Company is Best for Drivers with Good Credit?

If you have great credit, Allstate will normally reward you the most. For policyholders with "excellent" credit scores, Allstate comes in nearly 19.44 more affordable. Drivers with "good" credit scores typically save around 12% with Allstate compared to average rates from Hallmark Financial.

Which Company is Best for Drivers with Bad Credit?

If you have less-than-perfect credit, it can be somewhat of a toss-up as far as which company offers you the best premiums. Drivers with "fair" credit pay about 3% less with Allstate than Hallmark Financial, but those whose credit is considered "poor" have it flipped -- saving around 6% per month with Hallmark Financial.

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

How much you drive can have a large impact on your monthly prices. Generally, those who drive fewer miles will end up with less expensive rates since there's less of a chance of causing an accident and filing an insurance claim.

As you can see in the table above, annual mileage doesn't have much of an impact on how much Hallmark Financial charges. However, there's a small difference in monthly premiums for Allstate, with drivers who put 6,000 miles on their car each year paying about $3 less every month compared to those who drive 12,000 miles yearly. Still, for drivers in both categories, Allstate is the cheaper company.

Allstate or Hallmark Financial: Compare Rates for Urban, Suburban, and Rural Drivers

Where you call home can have a big impact on your monthly insurance payment. Typically, those who live in rural areas will pay less than drivers in urban areas due to the small number of vehicles that are on the roads where they live.

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

For policyholders in urban ZIP codes, Allstate's average prices are around 1% less than Hallmark Financial. People who live in suburban areas pay about 13% less with Allstate compared to Hallmark Financial. Those in rural areas can expect to save around 2% with Allstate compared to Hallmark Financial.

Allstate vs. Hallmark Financial Discounts

No matter why you might be in the market for a new auto insurance policy, you're always going to want to save as much money as you can, and the best way to do that is by utilizing as many insurance discounts as possible.

But with what seems like a million different discounts out there, it can be challenging to find all the ones you qualify for or to nail down the carrier that has the most discounts for your unique driver profile.

Luckily, we did the hard work for you and broke down all of the different discounts offered by both Allstate and Hallmark Financial so that you can easily see which company offers the most discounts and, therefore, the largest savings.

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

Both carriers offer quite a few of the same discounts -- like discounts for being a defensive driver and passive restraint discounts -- but Allstate also offers discounts for ABS, advance quote, agency transfer, and more.

On the other hand, Hallmark Financial has a few proprietary discounts of their own like education discounts and foreign license discounts.

Final Thoughts: Is Allstate or Hallmark Financial Best for You?

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

Allstate might be best for you if....

• You will be the only person on the car insurance policy.
• Your credit score is high.
• You want to save money while purchasing auto insurance for a teenager.

Hallmark Financial might be best for you if...

• You like the personalized touch of a small, regional carrier.
• Your driving record includes a DUI charge.
• You and your spouse are buying insurance together.

Hopefully, this guide helps you get a good idea of the differences between Allstate and Hallmark Financial and that you can now make a more informed decision when it comes to your car insurance.

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

Allstate vs. Hallmark Financial FAQs

Is Allstate or Hallmark Financial cheaper?

Allstate is the more affordable of the two carriers when looking at national average rates, with policies averaging $199 a month with Allstate and $211 for Hallmark Financial. Even so, that doesn't mean Allstate will be the cheapest company for each driver, since there are a range of different variables that are considered when it comes to your car insurance cost.

Who is better, Allstate or Hallmark Financial?

Unfortunately, the answer truly is "it depends.". Neither carrier is necessarily "better" for everyone -- it all depends on the makeup of your unique auto insurance profile. For example, Allstate is less expensive for drivers with excellent credit, while Hallmark Financial offers cheaper prices for drivers with a recent DUI.

Why do Allstate and Hallmark Financial offer me different rates?

Insurance companies use quite a few different factors when determining the rates they charge. Variables such as gender, where your home is, your driving record, age, and sometimes even things like your credit score can all be used. Both Allstate and Hallmark Financial calculate premiums using different formulas, so it's likely they'll offer different rates. The best way to determine which company is the lowest for you is by comparing personalized quotes from several different carriers.

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

The only way to find the car insurance carrier 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, sites like Compare.com make it easy for you to do just that. Just enter your ZIP code and you'll get quotes from dozens of your local top auto insurance carriers for free. That way, you can guarantee you're getting the best rate. And maybe you'll find that the best company for you isn't Allstate or Hallmark Financial at all, but another you hadn't even thought of!

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.