Bankers vs. Norfolk & Dedham: Which Company is the Best Fit for You?

Quick Facts

• Looking at the national averages for insurance, Norfolk & Dedham offers slightly less expensive prices than Bankers
• Bankers has cheaper premiums for drivers who have less-than-stellar credit
• Norfolk & Dedham tends to be a much less expensive option for drivers who have an at-fault accident on their record

Bankers vs. Norfolk & Dedham: Which Company has the Cheapest Car Insurance?

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

You might have narrowed your search down to Bankers or Norfolk & Dedham for your next policy, but which company will save you the most?

As you can see, Norfolk & Dedham is about $6 per month cheaper than Bankers when looking at the national average rates for auto insurance.

Even so, that doesn't mean Norfolk & Dedham will necessarily be more affordable than Bankers for each driver. Car insurance companies use a variety of complex algorithms to calculate rates, so depending on how clean your driving record is or how old you are (among a whole range of other factors), you could see wildly different premiums from the ones above.

So, if you want to find out which of Bankers or Norfolk & Dedham is really the best for you, keep reading to see average prices for each company broken down by a variety of different rate factors.

Bankers or Norfolk & Dedham: Average Car Insurance Rates by State

Bankers and Norfolk & Dedham only compete against each other in Massachusetts, where Norfolk & Dedham offers the cheaper average premiums. For Massachusetts residents, Norfolk & Dedham offers auto insurance for $165 per month on average. Bankers's average rates come out to be over 15% more expensive, at $198 monthly.

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

Which is the Best Company For Young Drivers?

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

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 Norfolk & Dedham for their insurance pay $4 less than those who use Bankers.

That being said, both carriers will offer you dramatically lower premiums once you turn 25. For example, average prices for Bankers policyholders drop nearly $200 and Norfolk & Dedham's rates lower more than $200 over that time.

Which is the Best Company for Retired Drivers?

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

But who has the best rates for retired drivers between Bankers and Norfolk & Dedham? Bankers gets the slight edge here, with average prices coming in at around $132 a month compared to Norfolk & Dedham's $134. But the difference is only about 5%, so other variables (such as where you live or your driving record) will likely come into play when determining which carrier has the most affordable rates for you.

Which is the Best Company for Married Drivers?

Single drivers tend to get offered slightly more expensive insurance premiums than married couples. That's because policies for married policyholders usually cover more than one car, which many companies will offer you a discount for.

If you're in the market for car insurance, Norfolk & Dedham tends to have the cheapest average prices regardless of relationship status, with prices around $7 cheaper for single policyholders and about $4 less expensive for married drivers.

Bankers vs. Norfolk & Dedham: Average Rates by Gender

Men are statistically more likely than women to get pulled over for speeding or get into an accident. That means when it comes to auto insurance men will typically end up paying a little more.

Men generally pay around $15 a month more than women with Bankers; women and men get the same monthly rates with Norfolk & Dedham.

When it comes to the lowest premiums for each gender, Norfolk & Dedham is the most affordable company for men. Rates with Norfolk & Dedham are $14 less for men, while women can save about $2 with Bankers.

Bankers or Norfolk & Dedham: 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, car insurance can be pretty complicated. There are several different coverages that account for multiple different things. Some protect you and your vehicle, while others only provide coverage for other people's property and health if you cause a collision.

However, most policies end up falling into two different types of coverage -- liability only (which provides property damage and bodily injury coverage 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 liability coverage).

In this case, Bankers offers the cheapest average prices for state minimum liability insurance, while Norfolk & Dedham has the edge for full coverage policies with similar coverage limits. Drivers looking for basic state minimum coverage can save around $30 with Bankers Insurance, while full coverage comes out to be around $45 more affordable with Norfolk & Dedham.

Is Bankers or Norfolk & Dedham Better for Drivers with Spotty Records?

You've probably seen plenty of commercials from insurance carriers offering great rates for good drivers, but that doesn't mean people with less-than-perfect driving records can't save money, too.

You'll probably end up paying more with accidents and tickets on your record, but which of these two companies offers the most affordable prices to drivers with spotty records?

Which Company is Best for Drivers with Speeding Tickets?

Bankers policyholders can expect their premiums to go up an average of $20 per month if they get a ticket, while Norfolk & Dedham normally raises rates about $19 a month, on average.

But Norfolk & Dedham is usually the cheaper option for both drivers who have a recent speeding ticket and those with clean records. Drivers with a clean record can save around $5 per month and drivers with a ticket can save about $6 a month with Norfolk & Dedham.

Which Company is Best for Drivers After an Accident?

Both carriers will increase premiums pretty significantly if you get into an at-fault collision with Norfolk & Dedham increasing by just under $70. Bankers has a less extreme rise, but you can still expect to pay $65 more than you were prior to your first accident.

Overall, the more affordable prices come from Norfolk & Dedham, with monthly premiums averaging $185 compared to Bankers Insurance's $186.

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, Bankers increases average prices by over $100 per month -- that's just under a 50% increase.

If you have a DUI on your record and are looking for more affordable rates, Norfolk & Dedham tends to be the much less expensive option with average prices of $224 per month compared to $238 from Bankers.

How does Credit Score Impact Bankers and Norfolk & Dedham Rates?

In many cases, your credit score can be used as one of the factors to determine your monthly car insurance rates. This isn't always the case (for example, are two states that ban the practice entirely), but it does affect a lot of policyholders out there.

Auto insurance companies argue that those with good credit scores are more likely to pay their bills on time each month, which lowers the risk involved on their end, while the opposite is true for those with bad credit.

Looking specifically at Bankers and Norfolk & Dedham, which carrier has the lowest premiums for drivers at different credit levels?

Which Company is Best for Drivers with Good Credit?

You'll often be rewarded if you have great credit. Jumping from a "good" credit score to an "excellent" one will typically save Bankers Insurance customers around $10. On the other hand, because undefined doesn't have data available for credit scores, they most likely don't use credit to calculate your rates.

Which Company is Best for Drivers with Bad Credit?

Having bad credit can cost you with Bankers Insurance. If your credit score is in the "poor" range, at Bankers Insurance, you may pay about $35 more a month compared to those with "fair" scores (and even more compared to drivers with good or excellent scores). undefined, on the other hand, doesn't have data available for credit scores, which means drivers with bad credit may find better rates with undefined over Bankers Insurance.

Is Bankers or Norfolk & Dedham Better for Drivers who Work from Home or Have Short Commutes?

How much you drive can have a big impact on your monthly insurance payment. Generally, the more miles you drive, the more you can expect to pay for auto insurance.

Looking specifically at Bankers and Norfolk & Dedham, Norfolk & Dedham is the more affordable option for people who work from home, while Norfolk & Dedham has better prices for those with short commutes. Bankers average premiums for drivers with 6,000 annual miles come in around $19 more expensive than Norfolk & Dedham. Those who drive 12,000 miles annually can expect to pay about $6 more with Norfolk & Dedham over Bankers.

Bankers vs. Norfolk & Dedham: Compare Rates for Urban, Suburban, and Rural Drivers

Where you live can have a pretty big impact on your monthly car insurance cost. Normally, if you live in a rural area with fewer cars on the road, you'll pay a little less for insurance, while the opposite is true for people in urban areas.

When comparing these two carriers side-by-side, Norfolk & Dedham typically comes out as the cheaper option for drivers in rural and suburban areas, while Bankers wins in urban areas.

In urban areas, Bankers Insurance's average premiums are around $45 less than Norfolk & Dedham. Drivers in suburban ZIP codes pay about $35 less with Norfolk & Dedham compared to Bankers. If you live in a rural area, you can expect to save around $27 with Norfolk & Dedham compared to Bankers.

Bankers vs. Norfolk & Dedham Discounts

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

The challenging part is finding all of the discounts you can take advantage of, since it can feel sometimes like every company has different discounts and each one is advertised differently.

Below, we've taken a look at all of the different discounts Bankers and Norfolk & Dedham offer their customers so that you can see which one can save you the most money each month.

Overall, Bankers comes out ahead with 16 discounts to Norfolk & Dedham's 11.

There are a couple discounts both companies offer, but Bankers also offers ABS discounts, annual mileage discounts, continuous insurance discounts, and more that Norfolk & Dedham does not.

On the flip side, Norfolk & Dedham has a couple unique discounts of its own -- advance quote discounts, hybrid vehicle discounts, mature driver discounts, and more.

Final Thoughts: Is Bankers or Norfolk & Dedham 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 carrier offers. But, at the end of the day, which company is the best company for you and your specific profile and needs?

Norfolk & Dedham might be best for you if....

• You have a clean record.
• You live in an suburban area.
• Your neighborhood is in a rural area.

Bankers might be best for you if...

• Your credit is below-average.
• You want basic car insurance coverage at the state minimum limits.
• You are over 65 years old and want to save some money on your auto insurance.

We hope this guide has ben a valuable resource as you compare Bankers and Norfolk & Dedham and that you can now make a more informed decision when it comes to your car insurance.

At the end of the day, the best way to make sure you're getting the best deal on your insurance policy is to compare quotes from several companies, not just Bankers and Norfolk & Dedham. 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.

Bankers vs. Norfolk & Dedham FAQs

Is Bankers or Norfolk & Dedham cheaper?

Looking just at the national average premiums, Norfolk & Dedham is the less expensive of the two companies, offering average rates of $165 per month compared to $171 for Bankers. However, Norfolk & Dedham won't necessarily be the lowest carrier for everyone, since there are many different factors that are considered when it comes to your auto insurance payment.

Who is better, Bankers or Norfolk & Dedham?

Sadly, the real answer is "it depends.". No single company is necessarily "better" for every driver -- it all depends on what your unique insurance profile looks like. For example, Norfolk & Dedham offers more affordable rates for drivers with a recent DUI, while Bankers is less expensive for drivers with excellent credit.

Why do Bankers and Norfolk & Dedham offer me different rates?

Car insurance carriers take a look at quite a few different variables when calculating the prices they charge policyholders. Things like where you park your vehicle, where your home is, gender, age, and sometimes even things like your credit score can all come into play. Both Bankers and Norfolk & Dedham calculate premiums differently, so each one will most likely offer different prices. The only real way to see which carrier is the most affordable for you is by comparing personalized quotes from a range of different companies.

How do I know if Bankers or Norfolk & Dedham is right for me?

The only way to find the auto insurance company that's right for you is by getting quotes from multiple 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. That way, you can guarantee you're getting the best rate. And who knows, the best carrier for you might not be Bankers or Norfolk & Dedham 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.