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

If you're in the market for a new insurance policy, you might be wondering how Depositors and American Select compare when it comes to the most affordable premiums and biggest discounts. To find out which of these companies is the best fit for you and your wallet, check out our newest guide below.
Newly insured car driving down the road
Why You Can Trust trust shield

At, it's our mission to find simple ways to help our customers save money on the things they need. While we partner with some of the companies and brands we talk about in our articles, all of our content is written and reviewed by our independent editorial team and never influenced by our partnerships. Learn about how we make money, review our editorial standards, and reference our data methodology to learn more about why you can trust

Quick Facts

  • In general, Depositors offers more affordable prices than American Select
  • American Select offers more discounts than Depositors Insurance Company
  • Depositors tends to be a much less expensive option for people who are single and purchasing auto insurance by yourself

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

Are you considering a new insurance policy? You've probably seen commercials and billboards from companies offering large discounts, but exactly how much money can you save by switching?

You might be considering American Select or Depositors for your next policy, but between the two, which carrier has cheaper rates for insurance?

American Select Depositors

As you can see, Depositors has average rates that are about 13% per month more affordable than those from American Select when looking at the national average rates for auto insurance.

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

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

American Select or Depositors: Average Car Insurance Rates by State

State American Select Depositors

American Select and Depositors only compete against each other in one states, with American Select offering cheaper rates to the average driver in all of them. Indiana has the most noticable difference, where American Select prices are over 10% less expensive than insurance rates at Depositors.

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

Find your best rate in just a few minutes

Which is the Best Company For Young Drivers?

American Select Depositors
18-year-old drivers$311$311
25-year-old drivers$165$132

Young drivers -- especially teens -- typically pay a lot for auto insurance compared to older drivers. It's because young, inexperienced drivers are statistically much more likely to get into accidents since they have less experience on the roads.

However, that doesn't mean teen drivers can't still save money on their car insurance. As you can see above, teens who use American Select save $0 a month compared to those who use Depositors.

But with both carriers, you'll see your premiums reduce significantly by the time you turn 25. For example, average rates for American Select policyholders drop nearly $150 and Depositors's premiums lower around $200 over that time.

Which is the Best Company for Retired Drivers?

American Select Depositors
65+-year-old drivers$136$111

When it comes to auto insurance, patience and experience pay off, with drivers around retirement age paying some of the lowest prices you'll ever see.

So, which carrier offers the best rates to retired drivers? Depositors gets the edge here, with average premiums coming in at about $111 a month compared to American Select's $136.

Which is the Best Company for Married Drivers?

American Select Depositors

Did you know that insurance prices are generally more expensive for those who are single than they are for married policyholders? That's because policies for married drivers normally cover more than one car, 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 $20 per month cheaper than American Select, on average. The advantage for married couples with Depositors is also obvious, where drivers save almost 20% a month.

American Select vs. Depositors: Average Rates by Gender

American Select Depositors

Men are statistically more likely than women to cause a collision and get into accidents. That means when it comes to auto insurance men will usually end up paying a little more.

On average, men see prices about 1% per month higher with American Select, while with Depositors, the difference is closer to 6% a month.

Looking at the data for each company specifically, Depositors comes out on top for both men and women. On average, women save about $27 per month and men save around $19 with Depositors compared to the average American Select policyholder.

Find your best rate in just a few minutes

American Select or Depositors: Compare State Minimum vs. Full Coverage Rates

American Select Depositors
State Minimum*$90$84
Full Coverage**$251$211

*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, car insurance isn't the easiest topic to understand. Everyone needs insurance, but there are so many different terms and limits that it can be hard to find the right policy.

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

If you're looking for state minimum limits for liability insurance, Depositors generally offers slightly more affordable premiums of $84 compared to American Select's $90. When it comes to full coverage policies with similar limits, Depositors again has the edge, with policies about $40 a month cheaper than American Select, on average.

Is American Select or Depositors Better for Drivers with Spotty Records?

It's no big secret that drivers who are accident-free get better deals on their auto insurance. But even if you have a spotty record, you can still find plenty of ways to save some cash on your monthly bill.

You'll probably end up paying more with accidents and tickets on your record, but which of these two carriers offers the cheapest prices to drivers with less-than-perfect records?

Which Company is Best for Drivers with Speeding Tickets?

American Select Depositors
Clean Record$117$106
1 Speeding Ticket$149$130

American Select policyholders can expect their premiums to go up an average of $32 per month if they get a ticket, while Depositors usually raises rates around $24 a month, on average.

However, Depositors is normally the more affordable option for drivers both with a speeding ticket and with a clean record. Drivers with a clean record can save about $11 per month and drivers with a ticket can save around $19 a month with Depositors Insurance Company.

Which Company is Best for Drivers After an Accident?

American Select Depositors
Clean Record$117$106
1 At-Fault Accident$158$157

American Select drivers who get in a collision can expect to see their prices climb by over $40, while those who have insurance through Depositors will see about a $50 increase.

Overall, the less expensive rates come from Depositors, with monthly premiums averaging $157 compared to American Select Insurance Company's $158.

Which Company is Best for Drivers with a DUI?

American Select Depositors
Clean Record$117$106
1 DUI$258$198

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. American Select drivers usually see a 55% increase in their insurance rates after a DUI charge, while Depositors will typically raise premiums by around 46%.

If you have a DUI on your record and are looking for more affordable prices, Depositors tends to be the much cheaper option with average premiums of $198 monthly compared to $258 from American Select.

Find your best rate in just a few minutes

How does Credit Score Impact American Select and Depositors Rates?

You may not have known, but your credit score can be used as one of the factors to calculate your monthly car insurance rates. This isn't always the case (Massachusetts, for example, has banned the use of credit score as a rating factor) but it might come into play for quite a few policyholders.

The reasoning auto insurance companies use is that drivers with bad credit will be less likely to pay their bills on time; so normally, they'll be asked to pay more, while those with good credit will be rewarded with more affordable prices.

So, which carrier offers the best premiums for policyholders with poor, average, or good credit?

Which Company is Best for Drivers with Good Credit?

American Select Depositors
Excellent Credit Score$107$117
Good Credit Score$133$134

Which Company is Best for Drivers with Bad Credit?

American Select Depositors
Fair Credit Score$169$155
Poor Credit Score$273$185

Find your best rate in just a few minutes

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

American Select Depositors
6,000 Annual Miles$170$148
12,000 Annual Miles$170$148

The amount of time you spend behind the wheel of your car plays a big role in your monthly prices. Generally, the more miles you put on your vehicle each year, the more you can expect to pay for insurance.

In this case, neither American Select or Depositors report increasing rates for drivers with higher annual mileage figures. That being said, Depositors comes out as the most affordable for drivers at both intervals, whether they put 6,000 or 12,000 miles on their car annually, with average premiums of $148 per month for both.

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

Where you park your vehicle can have a big impact on your monthly car insurance cost. Usually, those who live in urban areas will pay more than drivers in rural areas because of the number of cars that are on the roads in those areas.

American Select Depositors
Urban Areas$205$174
Suburban Areas$150$139
Rural Areas$156$130

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

In urban areas, Depositors's average rates are about $174 a month compared to American Select's $205. People in suburban areas pay around $139 with Depositors compared to American Select's $150 per month. Those in rural areas can expect to pay about $130 monthly with Depositors compared to American Select's $156.

American Select vs. Depositors Discounts

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

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

In the section below, we've broken down all of the different discounts offered by both American Select and Depositors so that you can see which company can save you the most money each month.

American Select Depositors
ABS Discount 
Account Relationship Discount 
Advance Quote Discount
Agency Transfer Discount 
Anti-Theft Discount 
Companion Auto Discount 
Company Car Discount 
Covid-19 Relief Discount 
Defensive Driver Discount
Distant Student Discount
Driver Training Discount 
EFT Discount 
Employee Discount 
Family Discount 
Good Driving Discount 
Good Student Discount
Group Discount
Homeowner Discount 
Intra-Agency Transfer Discount 
Life Policy Discount 

Overall, American Select has advantage when it comes to total number of discounts. Depositors offers a grand total of 17 discounts, while American Select has 20.

There are a couple discounts both carriers offer, but American Select also offers ABS discounts, account relationship discounts, agency transfer discounts, and more that Depositors does not.

On the flip side, Depositors has a couple unique discounts of its own -- COVID-19 relief discount, EFT discounts, employee discounts, and more.

Find your best rate in just a few minutes

Final Thoughts: Is American Select or Depositors Best for You?

You've seen the effect certain variables have on your auto insurance and the different discounts companies offer. That's all well and good, but at the end of the day, which carrier is the right fit for you?

Depositors might be best for you if....

  • You have received a ticket within the last few years.
  • You're looking for more protection with "full coverage" car insurance.
  • You don't spend much time in your car.

American Select might be best for you if...

  • You have above-average credit.
  • You're looking for discounts -- American Select has the most.
  • You're buying auto insurance for a teen and looking for a wallet-friendly option.

We hope this guide helps you get a better idea of the difference between American Select and Depositors and that you can now make a more informed decision when it comes to your insurance.

At the end of the day, the sure-fire way to make sure you're getting the best deal on your car insurance policy is to compare quotes from a handful of carriers, not just American Select and Depositors. Luckily, sites like do all the hard work for you. Just enter your ZIP code below and get free quotes from dozens of the top auto insurance companies in your area, all in just a few minutes.

Find your best rate in just a few minutes

American Select vs. Depositors FAQs

Is American Select or Depositors cheaper?

Looking just at the national average prices, Depositors is the less expensive of the two carriers, offering average rates of $148 per month compared to $170 for American Select. Even so, Depositors won't necessarily be the lowest company for every policyholder, since there are several different factors that are considered when it comes to your insurance payment.

Who is better, American Select or Depositors?

Unfortunately, the real answer is "it depends.". No single carrier is "better" for each driver -- it all depends on what your unique car insurance profile looks like. For example, Depositors offers cheaper rates for drivers with a recent DUI, while American Select is less expensive for drivers with excellent credit.

Why do American Select and Depositors offer me different rates?

Insurance companies take a look at lots of different variables when calculating the premiums they charge policyholders. Things like your driving record, age, gender, where you call home, and sometimes even things like your credit score can all come into play. Both American Select and Depositors use different formulas, so each one will most likely offer different rates. The only real way to see which company is the cheapest for you is by comparing personalized quotes from a range of different carriers.

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

The only way to find the auto insurance carrier that's right for you is by getting quotes from multiple companies and finding the one best suited for your individual budget. Luckily, makes it easy for you to do just that. Just enter your ZIP code and you'll get free quotes from dozens of the best insurance carriers in your area. That way, you can guarantee you're getting the lowest premium. And who knows, the best company for you might not be American Select or Depositors at all!


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.

About's #1 goal is to save you money. We publish resources that are based on hard-hitting data and years of industry experience to help you make more informed decisions with your wallet.

  • All of's content is written and reviewed for accuracy by a team of experienced writers and editors who are experts on the topics they cover.
  • None of's content is ever influenced by the companies and brands we partner with.
  •'s editorial team operates independently of any of the company's partnership or business development interests. We publish unbiased information strictly for the benefit of our readers.
  • All of the content you see on is based on comprehensive analysis and all data is gathered and vetted from trustworthy sources.

Learn more about us, our team, and what makes us tick.

Find your best rate in just a few minutes