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

Quick Facts

• In general, Auto-owners offers significantly less expensive premiums than Meemic
• Auto-owners offers more affordable prices for policyholders who live in urban areas
• Meemic has cheaper rates in MI

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

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

You've maybe even narrowed your search down to Auto-owners or Meemic as potential options, but which one has more affordable prices for insurance?

As you can see, Auto-owners has average rates that are around 35% a month cheaper than those from Meemic when looking at the national average rates for auto insurance.

However, that doesn't necessarily mean Auto-owners will be the less expensive option for every driver. Car insurance carriers vary their premiums depending on things like how good your credit score is, how clean your driving record is, where you live, how old you are, and all sorts of other factors, so rates will differ quite a bit from person to person.

So, if you want to find out which of Auto-owners or Meemic is really the best for you, keep reading to see average prices for each company broken down by lots of different rate factors.

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

Auto-owners and Meemic only compete against each other in Michigan, where Auto-owners offers the cheaper average premiums. Auto-owners drivers tend to pay about $37 per month less on average compared to drivers who use Meemic for their insurance.

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 car insurance companies determine your rates. Keep reading to find out more.

Which is the Best Company For Young Drivers?

Teen drivers will almost always have the most expensive auto insurance premiums of any other group of drivers. It's because teen drivers are statistically much more likely to cause collisions and other accidents that will result in an insurance claim.

But still, even with seemingly sky-high prices, teen drivers can still find ways to save money. Just look at the table above -- where 18-year-old drivers who have Auto-owners for their insurance pay over 4% less than those who use Meemic. It's worth noting that Auto-owners offers car insurance in 23 different states compared to Meemic's one, which can skew the average rates a bit, but the difference here is still considerable.

Even so, both carriers will offer you dramatically lower prices once you turn 25. For example, average premiums for Auto-owners policyholders lower about $250 and Meemic's rates drop around $150 over that time.

Which is the Best Company for Retired Drivers?

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

So, which carrier offers the best premiums to retired drivers? Auto-owners gets the edge here, with average rates coming in at about $133 per month compared to Meemic's $279.

Which is the Best Company for Married Drivers?

Married drivers tend to get slightly more affordable auto insurance prices than single drivers. This usually boils down to married couples having more than one vehicle on their policy -- something several car insurance companies will reward with discounts.

For those who are single, the difference in average premiums between these two carriers is significant, with Auto-owners prices coming in at a quarter less than Meemic's. The advantage for married policyholders with Auto-owners is also obvious, where drivers save more than $100 a month.

Auto-owners or Meemic: Average Rates by Gender

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

On average, men see premiums around 6% per month higher with Auto-owners; and with Meemic, both genders end up paying the same monthly price.

When it comes to the cheapest rates for each gender, Auto-owners comes out as the lowest option for both genders. On average, male drivers save about $96 a month and women save about $107 with Auto-owners compared to the average Meemic policyholder.

Auto-owners vs. Meemic: 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.

Auto insurance isn't the easiest topic to understand. There are several different coverages that account for multiple different things. Some protect you and your car, while others only provide coverage for other people's property and health if you cause a collision.

The two most common policies end up falling into two different types of coverage -- liability coverage (that covers bodily injury and property damage for other drivers if you cause an accident) and full coverage (which includes collision and comprehensive coverages that protect your own car, in addition to what you get with a liability policy).

Looking specifically at state minimum liability limits, Auto-owners has the significant 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 around $260 per month to Meemic's $361.

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

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

At-fault collisions and speeding tickets will most likely raise your rates, but is Auto-owners or Meemic less expensive for drivers with less-than-perfect records?

Which Company is Best for Drivers with Speeding Tickets?

Policyholders who use Auto-owners for their insurance can usually expect their monthly bill to go up about 27% after getting a speeding ticket. Meemic policyholders can expect a bit more drastic of an increase of around 36%.

But Auto-owners has cheaper premiums for drivers in both categories. With Auto-Owners Insurance, drivers with a clean record can save about $55 a month and drivers with a ticket can save around $111 per month.

Which Company is Best for Drivers After an Accident?

Both companies will raise rates pretty significantly if you get into an at-fault collision with Meemic increasing by about 30%. Auto-owners has a less extreme climb, but you can still expect to pay nearly 30% more than you were prior to your first accident.

At the end of the day, the more affordable prices come from Auto-owners, with average premiums coming in at $168 compared to Meemic Insurance Company's $250.

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 a collision. On average, Meemic will increase your prices around 58% after a DUI, while Auto-owners's average rates rise by just under 55%.

Auto-owners has the overall cheapest premiums for drivers with a DUI on their records at $264 monthly, but it's worth noting that Auto-owners's average rates come from 23 states compared to just one for Meemic, so the data may be skewed slightly.

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

Did you know many auto insurance carriers take your credit score into account when determining rates? Certain states and companies do not allow for credit score to be used as an insurance factor, but it might come into play for lots of drivers.

The reasoning insurance carriers use is that policyholders with good credit will be more likely to pay their bills on time; so they'll reward them with cheaper premiums, while those with poor credit will typically be forced to pay more.

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

Which Company is Best for Drivers with Good Credit?

Michigan is one of a few states that restricts auto insurance companies from using credit scores to calculate rates. And since Meemic is only available in Michigan, there is no data available on how credit score impacts prices because it's not a factor at all. This may be a good thing, since Auto-owners and other carriers tend to increase premiums quite a bit in other states if you don't have excellent credit.

Which Company is Best for Drivers with Bad Credit?

If you have less-than-stellar credit and live in Michigan, the good news is it won't cost you extra when it comes to car insurance. As you can see, poor credit can really cost Auto-owners drivers in other states, but no need to worry if you live in Michigan.

Is Auto-owners or Meemic 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 pretty big impact on your monthly rates? Generally, those who drive fewer miles will end up with cheaper prices since there's less of a chance of causing an accident 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 Meemic charges. However, there's a small difference in monthly premiums for Auto-owners, with drivers who put 6,000 miles on their vehicle annually paying about $1 less every month compared to those who drive 12,000 miles yearly. Still, for drivers in both categories, Auto-owners is the more affordable carrier.

Auto-owners or Meemic: 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 sizable impact as well. Normally, 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.

Auto-owners tends to offer the lowest rates for drivers in every type of area, no matter if it's urban, suburban, or rural.

If you live in a rural area, you can expect to pay around $164 a month with Auto-owners compared to Meemic's $248. People in suburban areas pay about $169 with Auto-owners compared to Meemic's $273 monthly. For drivers in urban ZIP codes, Auto-owners's average premiums are around $205 a month compared to Meemic's $322.

Auto-owners vs. Meemic 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. That's where car insurance discounts comes into play.

But where do you even start? With so many discounts out there, it may seem hard to find all the of the ones you're eligible for.

Luckily, we did the hard work for you and looked at all of the different discounts Auto-owners and Meemic offer their customers so that you can find the carrier that has the most discounts and, therefore, the largest savings.

Auto-owners knocks Meemic out of the park when it comes to the sheer number of discounts available, offering 24 different discounts to Meemic's eight.

There are a couple discounts both companies offer, but Auto-owners also offers discounts for ABS, advance quote, company car, and more.

On the other hand, Meemic has a few proprietary discounts of their own like employee discounts and prior carrier discounts.

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

So, we've broken down the average prices for many of the variables insurance carriers look at, and we've shown you all the discounts each company offers. But, at the end of the day, which insurance carrier is the right company for you, your vehicle, and your wallet?

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

• You haven't received any speeding tickets or been in a collision in the last few years.
• Your credit score is high.
• Your home is located in the suburbs.

Meemic might be best for you if...

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

Hopefully, this guide helps you get a better idea of the difference between Auto-owners and Meemic. We also hope we've given you the information you need to make the best 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 companies, not just Auto-owners and Meemic. Luckily, Compare.com makes it easy for you to do just that. Just 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. Meemic FAQs

Is Auto-owners or Meemic cheaper?

Auto-owners is the less expensive of the two companies when looking at national average rates, with policies averaging $179 per month with Auto-owners and $281 for Meemic. That being said, that doesn't mean Auto-owners will be the most affordable company for everyone, since there are a range of different factors that come into play when it comes to your auto insurance bill.

Who is better, Auto-owners or Meemic?

Sadly, the real answer is "it depends.". No single carrier is "better" for everyone -- it all depends on the makeup of your unique car insurance profile.

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

Auto insurance carriers use quite a few different variables when calculating the prices they charge. Things like age, where you park your car, gender, your driving record, and sometimes even things like your credit score can all be used. Both Auto-owners and Meemic calculate premiums using different formulas, so it's likely they'll offer different rates. The best way to determine which company is the cheapest for you is by comparing personalized quotes from many different companies.

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

The only way to find the insurance carrier that's right for you is by getting quotes from several carriers and finding the one best suited for your individual budget. Luckily, sites like Compare.com do all the hard work for you. Just enter your area information 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 lowest rate. And maybe you'll find that the best company for you isn't Auto-owners or Meemic 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.