Bankers vs. Grange: Which Company is the Best Fit for You?

Quick Facts

• Based on national averages for car insurance, Bankers offers significantly less expensive rates than Grange
• Bankers offers more affordable premiums for residents of rural areas
• Grange offers more discounts than Bankers Insurance

Bankers vs. Grange: Which Company has the Cheapest Car Insurance?

So, you're considering switching your auto insurance. After all, you've seen ads from all sorts of companies offering large discounts. But exactly how much can you save by switching?

You've maybe even narrowed it down to Bankers or Grange as your top options, but which carrier will save you the most?

Looking at the national average rates for both companies, Grange has average rates that are about 30% per month more expensive than those from Bankers.

That being said, Bankers may not be the lowest or best option for each driver out there. Auto insurance carriers use a variety of complex algorithms to calculate rates, so depending on how good your credit score is or where you live (among a whole range of other factors), you could see wildly different prices from the ones above.

Luckily, we've broken down average premiums from both Bankers and Grange by a variety of different rate factors, so read on to find out which carrier is the best for you.

Bankers or Grange: Average Car Insurance Rates by State

Bankers and Grange only compete against each other in one states, with Bankers offering more affordable rates to the average driver in all of them. Massachusetts has the most noticable difference, where Bankers prices are over 30% cheaper than car insurance rates at Grange.

That being said, there's a lot more that goes into your insurance payment than just your home state. Continue reading to learn more about how other factors will affect your rates.

Which is the Best Company For Young Drivers?

You might already know that teen drivers normally pay a lot more for auto insurance than any other group of drivers. That's typically because young, inexperienced drivers are statistically much more likely to get into accidents since they have less experience on the roads.

Even so, 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 Bankers for their insurance pay $200 less than those who use Grange.

But both companies will offer you dramatically lower prices once you turn 25. For example, average premiums for Bankers policyholders decrease nearly 55% and Grange's rates drop almost 65% over that time.

Which is the Best Company for Retired Drivers?

Drivers around retirement age usually enjoy some of the cheapest car insurance prices you'll ever find. After all, they've likely been driving for quite some time, which generally decreases their chances of accidents and other infractions that can increase premiums.

When looking at Bankers and Grange specifically, which company is best for retired drivers? Bankers gets the edge here, with average prices coming in at around $132 a month compared to Grange's $200.

Which is the Best Company for Married Drivers?

You may not be aware, but insurance premiums tend to be less expensive for married policyholders than they are for those who are single. This usually boils down to married couples having multiple cars on their policy -- something several auto insurance carriers will reward with discounts.

When it comes to relationship status, Bankers is the clear winner for single drivers, with rates about $96 a month more affordable than Grange, on average. For married drivers, the advantage is clear again - Bankers has the edge when it comes to average premiums.

Bankers vs. Grange: Average Rates by Gender

Men tend to pay more for car insurance than women. This is because men are more likely to get into collisions and get tickets, which raises the chances of an insurance claim.

Generally, men see rates nearly 10% per month higher with Bankers, and around 5% more with Grange.

Looking at the data for each carrier specifically, Bankers offers the most affordable average prices for both men and women. On average, women save about $80 a month and men save about $76 with Bankers compared to the average Grange policyholder.

Bankers or Grange: 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 limits and coverages that it can make it pretty confusing 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 an accident) and full coverage (which usually refers to having comprehensive and collision coverages in addition to what you get with liability coverage).

If you're looking for state minimum limits for liability insurance, Bankers generally offers significantly cheaper premiums of $66 compared to Grange's $185. When it comes to full coverage policies with similar limits, Bankers again has the edge, with policies around $35 per month more affordable than Grange, on average.

Is Bankers or Grange 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.

It's no secret secret that at-fault collisions and tickets lead to higher rates, but which company -- Bankers or Grange -- has the lowest prices for drivers with less-than-ideal driving records?

Which Company is Best for Drivers with Speeding Tickets?

Bankers policyholders can expect their premiums to go up an average of $20 a month if they get a ticket, while Grange normally raises rates about $55 per month, on average.

However, Bankers tends to offer the best prices for both drivers who have clean records and those with a recent speeding ticket, offering prices that are 33% and 40% cheaper, respectively, compared to Grange Insurance.

Which Company is Best for Drivers After an Accident?

Bankers drivers who get in a collision can expect to see their premiums rise by $65, while those who have insurance through Grange will see around a $85 increase.

Overall, drivers who use Bankers end up with the cheaper prices after an accident, with monthly prices averaging $186 compared to Grange Insurance's $266.

Which Company is Best for Drivers with a DUI?

On average, a DUI offense is going to cost you much more than a single accident or ticket when it comes to your insurance bill. For example, Grange increases average rates by just under $150 a month -- that's just under a 45% increase.

If you have a DUI on your record and are looking for more affordable prices, Bankers tends to be the much less expensive option with average premiums of $238 per month compared to $314 from Grange.

How does Credit Score Impact Bankers and Grange Rates?

You may not have known, but your credit score can come into play when companies determine your monthly bill. This isn't always the case (for example, are two states that ban the practice entirely), but it will come into play for quite a few policyholders.

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

So, which carrier offers the cheapest rates 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 Bankers or Grange 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 how much car insurance companies will charge for coverage. Typically, those who drive fewer miles will end up with more affordable prices since there's less of a chance of getting into an accident and causing an insurance claim.

For both drivers who put 6,000 miles on their vehicles every year, as well as those who average twice that figure, Bankers tends to be the cheaper option. Bankers's average premiums for drivers with 6,000 annual miles come in about $78 less expensive than Grange. Those who drive 12,000 miles annually can expect to pay around $77 less with Bankers over Grange.

Bankers vs. Grange: Compare Rates for Urban, Suburban, and Rural Drivers

Where your home is can play a sizable role in how much you pay for auto insurance. Normally, if you live in an urban area with more cars on the road, you'll pay a little more for car insurance, while the opposite is true for people in rural areas.

When comparing these two carriers side-by-side, Bankers typically comes out as the lowest option for drivers in every type of area, no matter if it's urban, suburban, or rural.

Policyholders in rural ZIP codes see the cheapest premiums from both companies, but Bankers comes out on top with average rates about $114 monthly. Bankers also has cheaper average prices for drivers in urban and suburban ZIP codes -- a $120 and $9 per month respective difference when compared to Grange policyholders in similar areas.

Bankers vs. Grange 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 auto insurance discounts as you can.

But where do you even start? With what seems like a million different discounts out there, it may be challenging to find all the ones you can take advantage of.

In the table below, we've compared all of the different discounts offered by Bankers and Grange so that you can see which one offers the most discounts and see which ones you might be able to take advantage of.

Grange knocks Bankers out of the park when it comes to the sheer number of discounts available, offering 12 more discounts than Bankers.

A couple of those are overlapping for things like annual mileage discounts, continuous insurance discounts, discounts for being a defensive driver, and discounts for being a good driver. Grange also offers advanced safety feature discounts, agency transfer discounts, company car discounts, and more that Bankers does not.

On the flip side, Bankers has a couple unique discounts of its own -- employers subject to ma worker discounts, excess vehicle discounts, and valuables credit discounts.

Final Thoughts: Is Bankers or Grange Best for You?

So, we've broken down the average premiums for many of the variables car insurance carriers look at, and we've shown you all the discounts each carrier offers. But, when it comes down to it, is Bankers or Grange the best company for you and your specific needs?

Bankers might be best for you if....

• You have a DUI charge on your record.
• You don't spend much time in your car.

Grange might be best for you if...

• You're looking for the company with the most discounts.

We hope this guide helps you get a better idea of the difference between Bankers and Grange and that it aids in making a more informed decision about your insurance.

At the end of the day, the sure-fire way to make sure you're getting the best deal on your auto insurance policy is to compare quotes from multiple companies, not just Bankers and Grange. Luckily, Compare.com does all the hard work for you. Simply enter your ZIP codes below and get multiple free quotes from some of the best car insurance carriers in your area, all in just a few minutes.

Bankers vs. Grange FAQs

Is Bankers or Grange cheaper?

Looking just at the national average rates, Bankers is the less expensive of the two companies, offering average rates of $171 a month compared to $249 for Grange. But Bankers won't necessarily be the most affordable carrier for each driver, since there are multiple different factors that come into play when it comes to your insurance bill.

Who is better, Bankers or Grange?

Unfortunately, the real answer is "it depends.". Neither company is necessarily "better" for everyone -- it all comes down to what your unique auto insurance profile looks like.

Why do Bankers and Grange offer me different rates?

Insurance carriers take a look at lots of different variables when calculating the prices they charge drivers. Factors like your driving record, age, where you live, gender, and sometimes even things like your credit score can all be used. Both Bankers and Grange use different formulas, so each one will most likely offer different rates. The only real way to see which carrier is the lowest for you is by comparing personalized quotes from a bunch of different companies.

How do I know if Bankers or Grange is right for me?

The only way to find the car insurance company 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 make it easy for you to do just that. Just enter your area information and you'll get free quotes from dozens of the best insurance companies in your area. That way, you can guarantee you're getting the most affordable premium. And who knows, the best carrier for you might not be Bankers or Grange 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.