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

Quick Facts

• Based on national averages for car insurance, Allstate offers significantly cheaper rates than Key
• Allstate offers more affordable prices for policyholders who have a clean driving record, free of collisions, tickets, or DUIs
• Key has less expensive rates in NV

Allstate or Key: Which Company has the Cheapest Car Insurance?

Are you in the market for a new insurance policy? After all, you've seen ads from all sorts of companies offering large savings. But exactly how much can you save by switching?

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

As you can see, Key is quite a bit more expensive than Allstate, with prices averaging $285 a month compared to just $199 with Allstate when looking at the national average rates for auto insurance.

That being said, that doesn't necessarily mean Allstate will be the more affordable option for every single driver. Car insurance carriers use all sorts of complex algorithms to determine premiums, so depending on how old you are or how good your credit score is (among a wide array of other factors), you could see wildly different rates from the ones above.

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

Allstate vs. Key: Average Car Insurance Rates by State

Allstate and Key only compete against each other in Nevada, where Allstate offers the cheaper average premiums. Allstate drivers tend to pay about $38 per month less on average compared to drivers who use Key for their insurance.

That being said, there's a lot more that goes into your car insurance bill than just your home state. Keep reading to learn more.

Which is the Best Company For Young Drivers?

You might already know that teen drivers generally pay a lot more for insurance than any group out there on the road. That's normally because teen drivers are statistically much more likely to cause collisions and other accidents that will result in an insurance claim.

Even so, that doesn't mean teen drivers can't still save money on their auto insurance. For example, 18-year-old drivers pay an average of almost 35% less a month by choosing Allstate over Key. It's worth noting that Allstate offers car insurance in 47 different states compared to Key's one, which can skew the average rates a bit, but the difference here is still considerable.

However, both companies will lower prices by the time drivers turn 25. For example, average premiums for Allstate policyholders reduce around $300 and Key's prices decrease nearly $450 over that time.

Which is the Best Company for Retired Drivers?

Drivers around retirement age typically enjoy some of the most affordable insurance premiums you can find. After all, they've likely been driving for quite some time, which usually decreases their chances of accidents and other infractions that can raise rates.

But who has the best premiums for retired drivers between Allstate and Key? Allstate gets the edge here, with average prices coming in at about $152 per month compared to Key's $223.

Which is the Best Company for Married Drivers?

Did you know that auto insurance rates are typically more expensive for single drivers than they are for married policyholders? That's normally because married couples tend to own and insure multiple vehicles, which can often earn you a discount.

For single policyholders, the difference in average prices between these two carriers is significant, with Allstate rates coming in at a third less than Key's. The advantage for married drivers with Allstate is also obvious, where drivers save almost 25% per month.

Allstate or Key: Average Rates by Gender

Did you know women usually pay less for car insurance than men? That's because women are less likely to get speeding tickets and get into accidents, which decreases the chances of filing a claim with insurance.

With Allstate, women generally pay around 4% a month less than men, and about 17% less with Key.

Looking at the data for each carrier specifically, Allstate comes out on top for both men and women, with average premiums $108 less for men and $64 cheaper for women.

Allstate vs. Key: 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.

Insurance can be a complicated subject for most people. Everyone needs auto insurance, but there are so many different limits and terms that it can be hard to find the right policy for you.

But the most common policies that drivers look at fall into two categories -- liability coverage (that covers bodily injury and property damage for other drivers if you cause a collision) and full coverage (which includes two additional coverages -- collision and comprehensive -- alongside liability coverage).

Looking specifically at state minimum liability limits, Allstate has the significant 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 around $289 per month to Key's $373.

Is Allstate or Key Better for Drivers with Spotty Records?

It's no secret -- drivers with good records end up getting the best deals on their insurance. But that's not to say you can't save money if you don't have the best driving record, either.

Speeding tickets and collisions will most likely raise your premiums, but is Allstate or Key less expensive for drivers with less-than-perfect records?

Which Company is Best for Drivers with Speeding Tickets?

Policyholders with Key auto insurance policies don't report seeing their rates increase after getting a ticket, but Allstate policyholders can expect to see their monthly bill increase by about $25.

Even so, Allstate is typically the more affordable option for drivers both with clean records and with a speeding ticket. Drivers with a clean record can save around 26% a month with Allstate, and the same can be said for those with a ticket, too.

Which Company is Best for Drivers After an Accident?

After an accident, drivers who have their car insurance through Allstate can expect to see about an $73 -- or around 32% -- rise in their auto insurance prices. Drivers who use Key for their insurance will see a monthly bill about $25 (or 11%) more expensive after reporting an accident to their car insurance company.

At the end of the day, the cheaper rates come from Allstate, with average premiums coming in at $229 compared to Key Insurance Company's $235.

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 -- normally a lot more than a collision or speeding ticket. On average, Key will climb your rates around 57% after a DUI, while Allstate's average prices climb by more than 30%.

Allstate has the overall lowest premiums for drivers with a DUI on their records at $227 monthly, but it's worth noting that Allstate's average rates come from 47 states compared to just one for Key, so the data may be skewed slightly.

How does Credit Score Impact Allstate and Key Rates?

You may not have known, but your credit score can be used as one of the variables to calculate your monthly car insurance prices. Certain states and companies do not allow for credit score to be used as an auto insurance factor, but it might come into play for quite a few drivers.

Auto insurance carriers argue that someone with good credit is more likely to pay their bills on time, which makes them less risky to insure. Because of that, policyholders with good credit will often be rewarded with more affordable premiums.

Looking specifically at Allstate and Key, which one has the cheapest rates for drivers at different credit levels?

Which Company is Best for Drivers with Good Credit?

If you have a solid credit score, Allstate will generally reward you the most. For policyholders with "excellent" credit scores, Allstate comes in nearly 49.12 cheaper. Drivers with "good" credit scores usually save about 40% with Allstate compared to average premiums from Key.

Which Company is Best for Drivers with Bad Credit?

Allstate typically offers lower rates than Key when it comes to drivers with less-than-perfect credit. Drivers with "fair" credit pay around 29% per month less with Allstate compared to Key, and those with "poor" scores normally save an average of about 4% a month.

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

How much you drive can have a considerable impact on your monthly prices. Usually, the more milage you drive, the more you can expect to pay for coverage.

As you can see in the table above, annual mileage doesn't have much of an impact on how much Key charges. However, there's a small difference in monthly rates for Allstate, with policyholders who drive 6,000 miles annually paying around $3 less every month compared to those who drive 12,000 miles yearly. Still, for drivers in both categories, Allstate is the less expensive carrier.

Allstate or Key: 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 pretty big impact as well. Typically, if you live in a rural area with fewer cars on the road, you'll pay a little less for auto insurance, while the opposite is true for people in urban areas.

When comparing these two companies side-by-side, Allstate generally comes out as the most affordable option for drivers in every type of area, no matter if it's urban, suburban, or rural.

In urban areas, Allstate's average rates are about $222 a month compared to Key's $386. Drivers in suburban ZIP codes pay a monthly rate of around $199 with Allstate compared to $234 with Key. Those in rural areas can expect to pay about $174 monthly with Allstate compared to Key's $234.

Allstate vs. Key Discounts

You want to save as much money as you can, right? The best way to do that is by utilizing as many car 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 can take advantage of 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 compared all of the different discounts offered by Allstate and Key so that you can see which carrier offers the most discounts and see which ones you might be able to take advantage of.

Allstate knocks Key out of the park when it comes to the sheer number of discounts available, offering 36 more discounts than Key.

There are a couple discounts both carriers offer, but Allstate also offers discounts for ABS, advance quote, agency transfer, and more.

Key's discounts come through just a few categories, including Defensive Driver, Good Driving, Multi-Car, and more.

Final Thoughts: Is Allstate or Key Best for You?

So, we've broken down the average prices for many of the factors insurance companies look at, and walked through the different discounts each company offers, too. That's all well and good, but at the end of the day, which insurance carrier is the best company for you, your vehicle, and your wallet?

Allstate might be best for you if....

• You will be the only person on the car insurance policy.
• You want the most robust protection via a "full coverage" policy.
• You live in a rural area.

Key might be best for you if...

• You live in one of the following states: Nevada.

Hopefully, this guide helps you get a good idea of the differences between Allstate and Key and that it aids in making a more informed decision about your auto 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 car insurance -- comparing quotes from several carriers, not just Allstate and Key. 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 insurance companies in your area, all for free.

Allstate vs. Key FAQs

Is Allstate or Key cheaper?

Allstate is the cheaper of the two carriers when looking at national average premiums, with policies averaging $199 per month with Allstate and $285 for Key. However, that doesn't mean Allstate will be the cheapest company for each policyholder, since there are lots of different variables (things like gender, age, driving record, etc.) that play a role in how much you pay.

Who is better, Allstate or Key?

Unfortunately, the answer truly is "it depends.". Neither carrier is "better" for everyone -- it all comes down to what your unique auto insurance profile looks like.

Why do Allstate and Key offer me different rates?

Insurance companies use many different factors when determining the rates they charge. Things such as age, where you park your car, your driving record, gender, and sometimes even things like your credit score can all be taken into consideration. Both Allstate and Key calculate prices using different formulas, so it's likely they'll offer different premiums. The best way to determine which company is the most affordable for you is by comparing personalized quotes from a range of different carriers.

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

The only way to find the auto 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, Compare.com does all the hard work for you. Just enter your ZIP code and you'll get quotes from dozens of your local top car insurance carriers for free. With those, you can guarantee you're getting the best price. And maybe you'll find that the best company for you isn't Allstate or Key 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.