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

Quick Facts

• Looking at the national averages for insurance, Imt offers significantly cheaper premiums than Auto-owners
• Auto-owners offers more discounts than IMT Insurance
• Imt offers more affordable average prices for residents of rural areas

Auto-owners vs. Imt: 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 have narrowed it down to Auto-owners or Imt for your next policy, but between the two, which company will save you the most?

Looking at nationwide averages, Auto-owners is quite a bit more expensive than Imt, with rates averaging $179 per month compared to just $109 with Imt.

Even so, Imt may not be the cheapest or best option for each driver out there. Auto insurance companies vary their prices depending on things like how good your credit score is, how old you are, where you live, how clean your driving record is, and tons of other factors, so premiums will change quite a bit from person to person.

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

Auto-owners or Imt: Average Car Insurance Rates by State

Auto-owners and Imt only compete against each other in three states, with Imt offering less expensive premiums to the average driver in all of them. If you live in Nebraska, Auto-owners is the more affordable of the two carriers when looking at the overall average rates. Imt is the less expensive option in Iowa and Wisconsin.

There are plenty of other factors that go into your car insurance payment than just your home state. Keep reading to find out more.

Which is the Best Company For Young Drivers?

Teen drivers will almost always have the most expensive insurance premiums of any other group of drivers out there on the road. That's generally because young, inexperienced drivers are statistically much more likely to cause collisions and other accidents that will result in an insurance claim.

However, that doesn't mean teen drivers can't still save money on their car insurance. As you can see above, teens who use Imt save nearly $200 a month compared to those who use Auto-owners. It's worth noting that Auto-owners offers auto insurance in 23 different states compared to Imt's three, which can skew the average rates a bit, but the difference here is still considerable.

That being said, both companies will offer you dramatically lower prices by the time you turn 25. For example, average premiums for Auto-owners policyholders drop almost $250 and Imt's rates lower about $95 over that time.

Which is the Best Company for Retired Drivers?

Drivers around retirement age normally enjoy some of the most affordable insurance prices out there. After all, they've likely been driving for quite some time, which typically lowers their chances of accidents and other infractions that can increase rates.

When looking at Auto-owners and Imt specifically, which carrier is best for retired drivers? Imt gets the edge, with premiums for drivers 65 and older $51 cheaper than the national average for Auto-owners.

Which is the Best Company for Married Drivers?

Married couples tend to get slightly more affordable auto insurance prices than single drivers. That's usually because married drivers tend to own and insure several cars, which can often earn you a discount.

When it comes to relationship status, Imt is the clear winner for single policyholders, with premiums around $87 per month cheaper than Auto-owners, on average. For married policyholders, the advantage is clear again - Imt has the edge when it comes to average rates.

Auto-owners vs. Imt: Average Rates by Gender

Did you know women tend to pay less for car insurance than men? This is because men are statistically more likely than women to get into an accident or get pulled over for speeding, which leads to increased risk for insurers and, therefore, higher prices.

Women typically pay more than $10 a month less than men with Auto-owners, while with Imt, the difference is closer to $12 per month.

When it comes to the cheapest rates for each gender, Imt comes out on top for both men and women, with average premiums 38% less for men and 41% cheaper for women.

Auto-owners or Imt: 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 terms and coverages that it can be hard to find the right policy.

The two most common policies that many drivers look at fall into two categories -- liability only (that covers bodily injury and property damage for other drivers and passengers if you cause a collision) and full coverage (which includes comprehensive and collision coverages that protect your own vehicle, in addition to liability coverage).

If you're looking for state minimum liability insurance, Imt normally offers significantly less expensive prices of $58 compared to Auto-owners's $99. When it comes to full coverage policies with similar limits, Imt again has the edge, with policies about $100 a month more affordable than Auto-owners, on average.

Is Auto-owners or Imt 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.

Collisions and tickets will most likely raise your rates, but is Auto-owners or Imt cheaper for drivers with less-than-ideal driving records?

Which Company is Best for Drivers with Speeding Tickets?

Auto-owners policyholders can expect their premiums to go up an average of $44 per month if they get a ticket, while Imt generally raises prices around $13 a month, on average.

But Imt is usually the less expensive option for drivers both with clean records and with a speeding ticket -- their rates are around 37% cheaper for drivers with clean records and 46% more affordable for those with a ticket.

Which Company is Best for Drivers After an Accident?

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

Overall, the less expensive prices come from Imt, with monthly rates averaging $134 compared to Auto-Owners Insurance's $168.

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 ticket. Auto-owners drivers usually see a 54% raise in their car insurance premiums after a DUI charge, while Imt will usually increase rates by around 44%.

Imt has the overall lowest prices for drivers with a DUI on their records at $135 a month, but it's worth noting that Auto-owners's average rates come from 23 states compared to just three for Imt, so the data may be skewed slightly.

How does Credit Score Impact Auto-owners and Imt Rates?

You may not have known, but your credit score can be used as one of the factors to calculate your monthly auto insurance premiums. Certain states and carriers do not allow for credit score to be used as a rating factor, but it does affect quite a few policyholders out there.

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

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

Which Company is Best for Drivers with Good Credit?

If you have solid credit, you'll usually find a better deal with Imt. Drivers with "excellent" credit can save just under 10% compared to Auto-owners, and those with "good" scores can also expect to see savings -- about $27 or 21% cheaper each month.

Which Company is Best for Drivers with Bad Credit?

Imt typically offers lower prices than Auto-owners when it comes to drivers with a below average credit score. Drivers with "fair" credit pay around $68 per month less with Imt compared to Auto-owners, and those with "poor" scores generally save an average of about $177 per month.

Is Auto-owners or Imt 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 auto insurance bill. Typically, the more miles 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 Imt charges. However, there's a small difference in monthly rates for Auto-owners, with policyholders who drive 6,000 miles annually paying around $1 less every month compared to those who drive 12,000 miles yearly. Still, Imt is the less expensive option for drivers in both categories.

Auto-owners vs. Imt: Compare Rates for Urban, Suburban, and Rural Drivers

Where you call home can play a pretty big role in how much you pay for insurance. Usually, if you live in a rural area with fewer cars on the road, you'll pay a little less for car insurance, while the opposite is true for people in urban areas.

Imt boasts the lowest average rates for drivers in every type of area, no matter if it's urban, suburban, or rural.

For policyholders in urban ZIP codes, Imt offers prices about $136 monthly compared to Auto-owners's $205. People who live in suburban ZIP codes can expect to pay around $100 a month for Imt and $169 for Auto-owners. Lastly, those in rural areas tend to get the most affordable premiums from both carriers, with average monthly prices coming in at $90 and $164 for Imt and Auto-owners respectively.

Auto-owners vs. Imt Discounts

Regardless of 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 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 difficult to nail down the company that has the most discounts for your unique driver profile and to find all the discounts you can take advantage of.

Below, we've taken a look at all of the different discounts Auto-owners and Imt offer their customers 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 knocks Imt out of the park when it comes to the sheer number of discounts available, offering 24 different discounts to Imt's nine.

Both companies offer a lot of the same discounts -- like discounts for getting driver training, discounts for being a good student, and multi-policy discounts -- but Auto-owners also offers ABS discounts, advance quote discounts, anti-theft discounts, and more that Imt does not.

On the flip side, Imt has a unique discount of its own -- a commercial product discounts.

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

You've seen the role certain variables have on your insurance and the different discounts carriers offer. But, at the end of the day, is Auto-owners or Imt the right one for you and your specific driver profile?

Imt might be best for you if....

• Your driving record contains an at-fault accident.
• You live in an urban area.
• You are purchasing your auto insurance with a spouse.

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

• You value the experience that comes with a large national car insurance carrier.
• You're looking for discounts -- Auto-owners has the most.

We hope this guide helps you get a better idea of the difference between Auto-owners and Imt. We also hope we've given you the information you need to make the best decision when it comes to your insurance.

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

Auto-owners vs. Imt FAQs

Is Auto-owners or Imt cheaper?

Looking just at the national average premiums, Imt is the more affordable of the two companies, offering average rates of $109 per month compared to $179 for Auto-owners. That being said, Imt won't necessarily be the lowest company for each policyholder, since there are a variety of different factors that are considered when it comes to your insurance cost.

Who is better, Auto-owners or Imt?

Unfortunately, the answer truly is "it depends.". One carrier is not "better" for every driver -- it all boils down to your unique car insurance profile.

Why do Auto-owners and Imt offer me different rates?

Insurance carriers take a look at several different variables when calculating the rates they charge drivers. Things such as your driving record, gender, age, where you live, and sometimes even things like your credit score can all be taken into consideration. Both Auto-owners and Imt calculate premiums using different formulas, so each one will most likely offer different rates. The only real way to see which company is the most affordable for you is by comparing personalized quotes from multiple different companies.

How do I know if Auto-owners or Imt 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 carriers 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 free quotes from dozens of the best insurance companies in your area. With those, you can guarantee you're getting the best rate. And who knows, the best company for you might not be Auto-owners or Imt at all!

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.