Auto-owners vs. Cincinatti Financial: Which Company is the Best Fit for You?

Quick Facts

• Looking at the national averages for insurance, Auto-owners offers more affordable prices than Cincinatti Financial
• Auto-owners tends to be a much less expensive option for policyholders who are looking to purchase insurance with a spouse
• Cincinatti Financial has cheaper premiums for drivers who have a speeding ticket on their driving record

Auto-owners or Cincinatti Financial: Which Company has the Cheapest Car Insurance?

So, you're thinking about switching to a new insurance policy. You've probably seen commercials and billboards from companies offering substantial savings, but exactly how much money can you save by switching?

You've maybe even narrowed your search down to Auto-owners or Cincinatti Financial, but between the two, which carrier has less expensive rates for auto insurance?

As you can see, Auto-owners is around $21 a month more affordable than Cincinatti Financial when looking at the national average rates for car insurance.

But Auto-owners may not be the lowest or best option for each driver out there. After all, insurance carriers can offer drastically different rates to every driver depending on rating factors like your age, where you call home, your credit score, or even your driving record (among other things), so premiums could change drastically from person to person.

Luckily, we've broken down average prices from both Auto-owners and Cincinatti Financial by a range of different rate factors, so read on to find out which company is the best for you.

Auto-owners vs. Cincinatti Financial: Average Car Insurance Rates by State

Auto-owners and Cincinatti Financial compete against each other in four states, with Cincinatti Financial offering cheaper premiums to the average driver in all of them. If you live in Tennessee or Virginia, Auto-owners is the more affordable of the two companies when looking at the overall average rates. Cincinatti Financial is the cheaper option in Alabama and Kentucky.

There's a lot more that goes into your auto insurance bill than just your home state. Read on to learn more.

Which is the Best Company For Young Drivers?

You might already know that teen drivers usually pay a lot more for insurance than any group out there 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.

However, that doesn't mean teen drivers can't still save money on their car insurance. Just look at the table above -- where 18-year-old drivers who have Auto-owners for their auto insurance pay over 20% less than those who use Cincinatti Financial.

That being said, with both carriers, you'll see your prices drop significantly by the time you turn 25. For example, average premiums for Auto-owners policyholders reduce almost 60% and Cincinatti Financial's prices decrease more than 60% over that time.

Which is the Best Company for Retired Drivers?

Once you approach retirement age, you'll normally enjoy the most affordable car insurance rates you'll ever find. You've been on the road for years, and all that experience pays off when it comes to your monthly premiums for insurance.

When looking at Auto-owners and Cincinatti Financial specifically, which carrier is best for retired drivers? Cincinatti Financial gets the slight edge, with rates for drivers 65 and older $11 less expensive than the national average for Auto-owners.

Which is the Best Company for Married Drivers?

Did you know that auto insurance prices are typically more expensive for those who are single than they are for married couples? This usually boils down to married policyholders having more than one vehicle on their policy -- something several insurance companies will reward with discounts.

For single policyholders, the difference in average premiums between these two carriers is significant, with Auto-owners prices coming in at about 15% less than Cincinatti Financial's. It's not quite so glaring for married drivers, where drivers who use Auto-owners save around 4% per month.

Auto-owners or Cincinatti Financial: 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 into accidents and get speeding tickets, which lowers the chances of filing a claim with insurance.

On average, women see rates about 6% a month less with Auto-owners, but with Cincinatti Financial, the difference is closer to 6% per month.

Looking at the data for each company specifically, Auto-owners comes out on top for both men and women. On average, male drivers save about $21 a month and women save around $19 with Auto-owners compared to the average Cincinatti Financial policyholder.

Auto-owners 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.

For most people, insurance can be pretty complicated. There are so many different terms and limits that it can make it pretty confusing to find the right policy for you.

Even so, the most common policies that drivers look at fall into two categories -- liability coverage (which provides property damage and bodily injury coverage for other drivers if you cause a collision) and full coverage (which includes collision and comprehensive coverages that protect your own car, alongside what you get with a liability policy).

Looking specifically at state minimum liability limits, Auto-owners has the slight edge, with average monthly prices coming in at $99. If you want a full coverage policy with the same state minimum limits, Auto-owners again has the edge, with policies averaging about $260 per month to Cincinatti Financial's $293.

Is Auto-owners or Cincinatti Financial Better for Drivers with Spotty Records?

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

It's no secret secret that speeding tickets and at-fault collisions lead to higher premiums, but which carrier -- Auto-owners or Cincinatti Financial -- has the cheapest rates for drivers with spotty records?

Which Company is Best for Drivers with Speeding Tickets?

Policyholders who use Auto-owners for their car insurance can normally expect their monthly bill to go up around 27% after getting a speeding ticket. Cincinatti Financial policyholders can expect a less drastic increase of about 15%.

If you have gotten a ticket, Cincinatti Financial tends to offer the best premiums at around 13% more affordable, while Auto-owners has the edge for drivers with a clean record.

Which Company is Best for Drivers After an Accident?

Auto-owners drivers who get in an accident can expect to see their rates rise by just under 30%, while those who have insurance through Cincinatti Financial will see about a 45% increase.

At the end of the day, the less expensive prices come from Auto-owners, with average premiums coming in at $168 compared to Cincinatti Financial's $214.

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 auto insurance bill. For example, Cincinatti Financial increases average prices 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 rates, Auto-owners tends to be cheaper for the average driver, with monthly premiums coming in at around $264 to Cincinatti Financial's $320.

How does Credit Score Impact Auto-owners and Cincinatti Financial Rates?

You may not realized it, but your credit score can come into play when companies determine your monthly bill. This isn't true for everyone (for example, Massachusetts and Michigan are two states that ban the practice entirely), but it does affect many policyholders out there.

Car 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, drivers with good credit will often be rewarded with more affordable premiums.

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

Which Company is Best for Drivers with Good Credit?

If you have solid credit, Auto-owners will typically reward you the most. For drivers with "excellent" credit scores, Auto-owners comes in over 35.37 less expensive. Drivers with "good" credit scores generally save about 25% with Auto-owners compared to average rates from Cincinatti Financial.

Which Company is Best for Drivers with Bad Credit?

If you have bad credit, it can be somewhat of a toss-up as far as which company offers you the best premiums. Drivers with "fair" credit pay around 11% less with Auto-owners than Cincinatti Financial, but those whose credit is considered "poor" have it flipped -- saving about 11% per month with Cincinatti Financial.

Is Auto-owners or Cincinatti Financial Better for Drivers who Work from Home or Have Short Commutes?

The amount of time you spend behind the wheel of your car plays a big role in your monthly rates. That's because the more milage you drive, the more likely you are to be in a collision and file 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 prices for Auto-owners, with policyholders who drive 6,000 miles each year paying around $1 less every month compared to those who drive 12,000 miles yearly. Still, for drivers in both categories, Auto-owners is the cheaper carrier.

Auto-owners or Cincinatti Financial: Compare Rates for Urban, Suburban, and Rural Drivers

Where you call home can play a considerable role in how much you pay for insurance. 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 vehicles that are on the roads where they live.

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

For policyholders in urban ZIP codes, Auto-Owners Insurance's average prices are about 7% less than Cincinatti Financial. People who live in suburban areas pay around 14% less with Auto-owners compared to Cincinatti Financial. Those in rural areas can expect to save about 10% with Auto-owners compared to Cincinatti Financial.

Auto-owners vs. Cincinatti Financial Discounts

You want to save as much money as you can, right? The best way to do that is by taking advantage of as many auto insurance discounts as possible.

But with what seems like a million different discounts out there, it can be difficult to find all the ones you're eligible 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 Auto-owners and Cincinatti Financial so that you can easily see which company offers the most discounts and see which ones you might be able to take advantage of.

Auto-owners blows Cincinatti Financial away when it comes to the sheer amount of discounts available, offering 24 different discounts to Cincinatti Financial's 10.

Both carriers offer quite a few of the same discounts -- like advance quote discounts, COVID-19 relief discount, discounts for being a good student, and multi-policy discounts -- but Auto-owners also offers discounts for ABS, company car, distant student, and more.

On the other hand, Cincinatti Financial has a proprietary discount of their own -- a special large ded discounts.

Final Thoughts: Is Auto-owners or Cincinatti Financial Best for You?

So, you've seen how different variables can affect your insurance premiums. We've shown you all the discounts each company offers, too. That's all well and good, but when it comes down to it, is Auto-owners or Cincinatti Financial the right one for you and your specific needs?

Auto-owners might be best for you if....

• You have a clean driving record, free of accidents, tickets, or DUIs.
• You're looking for discounts -- Auto-owners has the most.
• You want to save money while purchasing car insurance for a teenager.

Cincinatti Financial might be best for you if...

• You like the personalized touch of a small, local carrier.
• You've received a ticket for speeding recently and don't want to see your rates increase.
• You're of retirement age and want to take advantage of lower premiums.

Hopefully, this guide helps you get a good idea of the differences between Auto-owners and Cincinatti Financial and that you can now make a more informed decision when it comes to your auto insurance.

At the end of the day, the sure-fire way to make sure you're getting the best deal on your insurance policy is to compare quotes from multiple companies, not just Auto-owners and Cincinatti Financial. Luckily, Compare.com makes it easy for you to do just that. Simply enter your ZIP code below and get free quotes from dozens of the top car insurance carriers in your area, all in just a few minutes.

Auto-owners vs. Cincinatti Financial FAQs

Is Auto-owners or Cincinatti Financial cheaper?

Auto-owners is the more affordable of the two companies when looking at national average prices, with policies averaging $179 a month with Auto-owners and $200 for Cincinatti Financial. But that doesn't mean Auto-owners will be the lowest company for each driver, since there are many different factors (things like age, gender, driving record, etc.) that play a role in how much you pay.

Who is better, Auto-owners or Cincinatti Financial?

Unfortunately, the real answer is "it depends.". No one carrier is "better" for every policyholder -- it all depends on the makeup of your unique auto insurance profile. For example, Cincinatti Financial is cheaper for drivers who have less-than-stellar credit scores, while Auto-owners offers less expensive premiums for drivers with an at-fault accident on their record.

Why do Auto-owners and Cincinatti Financial offer me different rates?

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

How do I know if Auto-owners or Cincinatti Financial is right for me?

The only way to find the insurance carrier that's right for you is by getting quotes from a handful of carriers 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 car insurance companies for free. With those, you can guarantee you're getting the most affordable premium. And maybe you'll find that the best company for you isn't Auto-owners 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.