American National vs. Cincinatti Financial: Which Company is the Best Fit for You?

Quick Facts

• Looking at the national averages for car insurance, American National offers significantly less expensive rates than Cincinatti Financial
• American National offers cheaper average premiums for drivers with a DUI
• American National tends to be a much more affordable option for policyholders who live in urban areas

American National or Cincinatti Financial: Which Company has the Cheapest Car Insurance?

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

You might have narrowed your search down to American National or Cincinatti Financial for your next policy, but which one has less expensive prices for insurance?

Looking at nationwide averages, Cincinatti Financial is quite a bit more expensive than American National, with rates averaging $200 a month compared to just $87 with American National.

However, American National may not be the most affordable or best option for every single driver out there. Auto insurance carriers use a variety of complex algorithms to determine premiums, so depending on how old you are or where you live (among several other factors), you could see wildly different prices from the ones above.

Luckily, we've broken down average rates from both American National and Cincinatti Financial by a variety of different rate factors, so read on to find out which company is the best for you.

American National vs. Cincinatti Financial: Average Car Insurance Rates by State

American National and Cincinatti Financial only compete against each other in one states, with American National offering more affordable prices to the average driver in all of them. Tennessee has the most noticable difference, where American National premiums are $74 cheaper than car insurance rates at Cincinatti Financial.

But there's more to auto insurance than just where you live. As we mentioned above, there's a lot of things that go into how insurance companies calculate your premiums. Continue reading to see how other variables will affect your rates.

Which is the Best Company For Young Drivers?

Young drivers -- especially teens -- normally pay a lot for car insurance compared to older drivers. 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. As you can see above, teens who use American National save almost 60% per month compared to those who use Cincinatti Financial.

But with both carriers, you'll see your prices lower significantly by the time drivers turn 25. For example, average rates for American National policyholders drop over 60% and Cincinatti Financial's prices decrease more than 60% over that time.

Which is the Best Company for Retired Drivers?

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

When looking at American National and Cincinatti Financial specifically, which carrier is best for retired drivers? American National gets the edge, with prices for drivers 65 and older $56 more affordable than the national average for Cincinatti Financial.

Which is the Best Company for Married Drivers?

Did you know that car insurance premiums are usually less expensive for married couples than they are for single policyholders? That's because policies for married policyholders generally cover several vehicles, which many companies will give you a discount for.

For those who are single, the difference in average rates between these two carriers is significant, with American National premiums coming in at around half of Cincinatti Financial's. For married drivers, the advantage is clear again - American National has the edge when it comes to average prices.

American National or Cincinatti Financial: Average Rates by Gender

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

On average, women see rates about $1 a month cheaper with American National, and around $13 less with Cincinatti Financial.

Looking at the data for each company specifically, American National comes out as the cheapest option for both genders, with average prices $118 less for men and $106 cheaper for women.

American National vs. Cincinatti 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.

It's no secret that insurance can be pretty complicated. Everyone needs car insurance, but there are so many different coverages and limits that it can be hard to find the right policy for you.

That being said, most policies end up falling into two different types of coverage -- liability coverage (which provides property damage and bodily injury coverage for other drivers and passengers if you cause an accident) and full coverage (which includes two additional coverages -- collision and comprehensive -- in addition to what you get with a liability policy).

Looking specifically at state minimum liability insurance, American National has the significant edge, with average monthly premiums coming in at $52. If you want a full coverage policy with the same state minimum limits, American National again has the edge, with policies averaging about $123 per month to Cincinatti Financial's $293.

Is American National or Cincinatti Financial Better for Drivers with Spotty Records?

You've probably seen plenty of commercials from auto 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.

It's no secret secret that at-fault accidents and speeding tickets lead to higher premiums, but which carrier -- American National or Cincinatti Financial -- has the lowest prices for drivers with less-than-ideal driving records?

Which Company is Best for Drivers with Speeding Tickets?

Policyholders who use American National for their insurance can normally expect their monthly bill to go up around 20% after getting a speeding ticket. Cincinatti Financial policyholders can expect a less drastic increase of about 15%.

But American National has less expensive rates for drivers in both categories. With American National Insurance Company, drivers with a clean record can save around $55 a month and drivers with a ticket can save about $59 per month.

Which Company is Best for Drivers After an Accident?

American National drivers who get in a collision can expect to see their prices rise by just under $30, while those who have insurance through Cincinatti Financial will see around a $90 increase.

At the end of the day, American National offers the most affordable premiums for drivers with an at-fault collision on their records, with average rates coming in at $95 compared to Cincinatti Financial's $214.

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, Cincinatti Financial increases average premiums by nearly $200 a month -- that's more than a 60% increase.

But if you end up with a DUI charge and are looking for more affordable prices, American National tends to be more affordable for the average driver, with monthly premiums coming in at about $104 to Cincinatti Financial's $320.

How does Credit Score Impact American National and Cincinatti Financial Rates?

You may not have known, but your credit score can be used as one of the factors to determine your monthly car insurance rates. This isn't true for everyone (Hawaii, for example, has banned the use of credit score as an auto insurance factor) but it will come into play for several policyholders.

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

So, which company offers the cheapest premiums for drivers with good, average, or poor credit?

Which Company is Best for Drivers with Good Credit?

Which Company is Best for Drivers with Bad Credit?

Is American National or Cincinatti Financial 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 substantial impact on how much auto insurance companies will charge for coverage? Generally, those who drive fewer miles will end up with cheaper prices since there's less of a chance of causing a collision 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 Cincinatti Financial charges. However, there's a small difference in monthly rates for American National, with policyholders who drive the least paying around $9 less each month compared to those who drive 12,000 miles yearly. Still, for drivers in both categories, American National is the more affordable carrier.

American National or Cincinatti Financial: 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 car insurance, but the type of area you live in can have a considerable impact as well. Usually, policyholders who live in less densely populated rural areas will pay quite a bit less than urban drivers since there are a lot fewer cars on the roads where they live.

American National boasts the most affordable average premiums for drivers in all types of areas, no matter if they're urban, suburban, or rural.

For drivers in urban ZIP codes, American National's average rates are about $104 per month compared to Cincinatti Financial's $220. People in suburban areas pay around $85 with American National compared to Cincinatti Financial's $197 monthly. Those in rural areas can expect to pay about $73 a month with American National compared to Cincinatti Financial's $182.

American National vs. Cincinatti 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.

The challenging part is finding all of the discounts you qualify for, since it can feel sometimes like every carrier has different discounts and each one is advertised differently.

Luckily, we did the hard work for you and compared all of the different discounts offered by American National and Cincinatti Financial so that you can see which carrier offers the most discounts and see which ones you might be able to take advantage of.

Overall, American National comes out ahead with 14 discounts to Cincinatti Financial's 10.

Both carriers offer lots of the same discounts -- like anti-theft discounts, COVID-19 relief discount, and discounts for being a good student -- but American National also offers discounts for claim free, distant student, driver training, and more.

On the other hand, Cincinatti Financial has a few proprietary discounts of their own for things like advance quote discounts, homeowner discounts, paid in full discounts, and more.

Final Thoughts: Is American National or Cincinatti Financial Best for You?

So, we've broken down the average premiums for many of the variables car insurance companies look at, and walked through the different discounts each company offers, too. But, at the end of the day, which insurance carrier is the best company for you, your vehicle, and your wallet?

American National might be best for you if....

• You will be the only person on the insurance policy.
• You're looking for the company with the most discounts.
• You want to save money while purchasing car insurance for a teenager.

Cincinatti Financial might be best for you if...

• You have a more unique driver profile than those we mentioned above.

Hopefully, this guide has ben a valuable resource as you compare American National and Cincinatti Financial and that you can now make a more informed decision when it comes to 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 insurance -- comparing quotes from a handful of carriers, not just American National and Cincinatti Financial. 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.

American National vs. Cincinatti Financial FAQs

Is American National or Cincinatti Financial cheaper?

American National is the less expensive of the two carriers when looking at national average prices, with policies averaging $87 a month with American National and $200 for Cincinatti Financial. Even so, that doesn't mean American National will be the cheapest carrier for every policyholder, since there are a range of different factors (things like driving record, age, gender, etc.) that play a role in how much you pay.

Who is better, American National or Cincinatti Financial?

Unfortunately, the real answer is "it depends.". One company is not "better" for each policyholder -- it all comes down to what your unique car insurance profile looks like.

Why do American National and Cincinatti Financial offer me different rates?

Auto insurance companies use a lot of different variables when determining the rates they charge. Factors like where you park your vehicle, age, where your home is, gender, and sometimes even things like your credit score can all be taken into consideration. Both American National and Cincinatti Financial calculate prices using different variables, so it's likely they'll offer different rates. The best way to determine which carrier is the most affordable for you is by comparing personalized quotes from multiple different carriers.

How do I know if American National or Cincinatti Financial is right for me?

The only way to find the insurance company that's right for you is by getting quotes from multiple 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 area information 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 lowest price. And maybe you'll find that the best carrier for you isn't American National or Cincinatti 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.