Bankers vs. Plymouth Rock Assurance: Which Company is the Best Fit for You?

Quick Facts

• Based on national averages for car insurance, Bankers offers significantly less expensive premiums than Plymouth Rock Assurance
• Bankers offers more affordable rates for policyholders who live in the suburbs
• Bankers tends to be a much more affordable option for residents of urban areas

Bankers vs. Plymouth Rock Assurance: Which Company has the Cheapest Car Insurance?

Are you considering a new insurance policy? With so many ads from all sorts of companies offering huge discounts, you're probably wondering exactly how much you might be able to save.

You've maybe even narrowed your search down to Bankers or Plymouth Rock Assurance as potential options, but between the two, which one will offer you cheaper prices?

Looking at nationwide averages, Plymouth Rock Assurance is quite a bit more expensive than Bankers, with premiums averaging $274 per month compared to just $171 with Bankers.

However, that doesn't necessarily mean Bankers will be the less expensive option for each driver. After all, insurance companies can offer drastically different rates to each driver depending on rating factors like your credit score, your driving record, your age, or even where you call home (among other things). So, at the end of the day, rates from every company will differ quite a bit from person to person.

Wanting to know if Bankers or Plymouth Rock Assurance is really the right carrier for you? Keep on reading to see how average prices can change based on all of the factors we've mentioned above.

Bankers or Plymouth Rock Assurance: Average Car Insurance Rates by State

Bankers and Plymouth Rock Assurance only compete against each other in one states, with Plymouth Rock Assurance offering more affordable premiums to the average driver in all of them. Massachusetts has the most noticable difference, where Plymouth Rock Assurance rates are over 70% cheaper than auto insurance prices at Bankers.

That being said, there's a lot more that goes into your car insurance cost than just where you live. Read on to learn more.

Which is the Best Company For Young Drivers?

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

That being said, that doesn't mean that teen drivers have to just accept sky-high auto insurance rates. As you can see above, teens who use Bankers save nearly $500 a month compared to those who use Plymouth Rock Assurance.

Even so, both carriers will lower premiums by the time drivers turn 25. Plymouth Rock Assurance offers the steepest reduction, with 25-year-olds paying less than a quarter of what 18-year-old drivers are charged. That being said, Bankers still has the lowest prices at $160 monthly.

Which is the Best Company for Retired Drivers?

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

But who has the best prices for retired drivers between Bankers and Plymouth Rock Assurance? Bankers gets the edge, with premiums for drivers 65 and older almost 20% less expensive than the national average for Plymouth Rock Assurance.

Which is the Best Company for Married Drivers?

Did you know that car insurance rates are usually more expensive for single policyholders than they are for married couples? That's because policies for married policyholders generally cover several cars, which quite a few companies will offer you a discount for.

When it comes to relationship status, Bankers is the clear winner for those who are single, with premiums about $152 per month more affordable than Plymouth Rock Assurance, on average. For married drivers, the advantage is clear again - Bankers has the edge when it comes to average prices.

Bankers vs. Plymouth Rock Assurance: Average Rates by Gender

Men are statistically more likely than women to get pulled over for speeding or get into an accident, which means they'll normally end up paying more for auto insurance than women.

On average, men see rates more than $15 a month higher with Bankers, and around $25 with Plymouth Rock Assurance.

Looking at overall affordability, Bankers comes out as the most affordable option for both genders, with average prices $108 less for men and $97 cheaper for women.

Bankers or Plymouth Rock Assurance: 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 isn't the easiest topic to understand. Everyone needs car insurance, but there are so many different terms and coverages that it can be hard to find the right policy.

But most policies end up falling into two different types of coverage -- liability only (that covers property damage and bodily injury for other drivers and their passengers if you cause a collision) and full coverage (which includes two additional coverages -- comprehensive and collision -- alongside liability).

If you're looking for state minimum limits for liability insurance, Bankers usually offers significantly cheaper rates of $66 compared to Plymouth Rock Assurance's $165. When it comes to full coverage policies with similar limits, Bankers again has the edge, with policies about $100 per month less expensive than Plymouth Rock Assurance, on average.

Is Bankers or Plymouth Rock Assurance 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.

Accidents and tickets will most likely raise your premiums, but is Bankers or Plymouth Rock Assurance cheaper for drivers with less-than-perfect records?

Which Company is Best for Drivers with Speeding Tickets?

Bankers policyholders can expect their prices to go up an average of $20 a month if they get a ticket, while Plymouth Rock Assurance typically raises premiums around $120 per month, on average.

Even so, Bankers has more affordable rates for drivers in both categories. Drivers with a clean record can save about $87 a month and drivers with a speeding ticket can save around $187 per month with Bankers Insurance.

Which Company is Best for Drivers After an Accident?

After an accident, drivers who have their insurance through Bankers can expect to see about an $65 -- or around 35% -- increase in their auto insurance prices. Drivers who use Plymouth Rock Assurance for their car insurance will see a monthly bill about $54 (or 21%) more expensive after reporting an accident to their auto insurance company.

Overall, Bankers offers the lowest rates for drivers with an at-fault accident on their records, with monthly premiums averaging $186 compared to Plymouth Rock Assurance's $262.

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 ticket or even a collision. On average, Bankers will climb your prices around 49% after a DUI, while Plymouth Rock Assurance's average premiums climb by just under 30%.

If you have a DUI on your record and are looking for more affordable rates, Bankers tends to be the much less expensive option with average prices of $238 per month compared to $296 from Plymouth Rock Assurance.

How does Credit Score Impact Bankers and Plymouth Rock Assurance Rates?

You may not realized it, but your credit score can be used as one of the factors to calculate your monthly insurance premiums. This isn't always the case (California, for example, has banned the use of credit score as a rating factor) but it will come into play for a lot of drivers.

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, policyholders with good credit will often be rewarded with cheaper rates.

So, which carrier offers the best prices for drivers with good, average, or poor credit?

Which Company is Best for Drivers with Good Credit?

If you have a solid credit score, you'll usually find a better deal with Bankers. Policyholders with "excellent" credit can save 50% compared to Plymouth Rock Assurance, and those with "good" scores can also expect to see savings -- about $137 or 51% more affordable each month.

Which Company is Best for Drivers with Bad Credit?

Bankers typically offers lower premiums than Plymouth Rock Assurance when it comes to drivers with less-than-stellar credit. Drivers with "fair" credit pay around $153 a month less with Bankers compared to Plymouth Rock Assurance, and those with "poor" scores generally save an average of about $247 a month.

Is Bankers or Plymouth Rock Assurance 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 considerable impact on your monthly rates? Usually, those who drive fewer miles will end up with less expensive prices since there's less of a chance of getting into an accident and causing an insurance claim.

As you can see in the table above, annual mileage doesn't have much of an impact on how much Plymouth Rock Assurance charges. However, there's a small difference in monthly rates for Bankers, with policyholders who drive the least paying around $3 less every month compared to those who drive 12,000 miles yearly. Still, Bankers is the more affordable option for drivers in both categories.

Bankers vs. Plymouth Rock Assurance: 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 substantial 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.

Bankers tends to offer the most affordable rates for drivers in all areas, regardless of if they're urban, suburban, or rural.

For drivers in urban ZIP codes, Bankers offers premiums about $172 monthly compared to Plymouth Rock Assurance's $355. People who live in suburban ZIP codes can expect to pay around $226 per month for Bankers and $283 for Plymouth Rock Assurance. Lastly, those in rural areas tend to get the cheapest prices from both companies, with average monthly premiums coming in at $114 and $183 for Bankers and Plymouth Rock Assurance respectively.

Bankers vs. Plymouth Rock Assurance 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. That's where insurance discounts comes into play.

But where do you even start? With so many discounts out there, it may seem challenging to find all the of the ones you can take advantage of.

In the section below, we've compared all of the different discounts offered by Bankers and Plymouth Rock Assurance so that you can see which carrier can save you the most money each month.

They both offer great discounts like anti-theft discounts, distant student discounts, discounts for being a good driver, and discounts for insuring multiple cars with the same company.

Final Thoughts: Is Bankers or Plymouth Rock Assurance Best for You?

You've seen the effect certain variables have on your auto insurance and the different discounts carriers offer. But, at the end of the day, which insurance carrier is the best company for you and your specific driver profile?

Bankers might be best for you if....

• You're single and purchasing car insurance by yourself.
• You want basic insurance coverage at the state minimum limits.
• You are over 65 years old and want to save some money on your car insurance.

Plymouth Rock Assurance might be best for you if...

• You have a more unique driver profile than those we mentioned above.

We hope this guide has ben a valuable resource as you compare Bankers and Plymouth Rock Assurance and that you can now make a more informed 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 Bankers and Plymouth Rock Assurance. 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.

Bankers vs. Plymouth Rock Assurance FAQs

Is Bankers or Plymouth Rock Assurance cheaper?

Looking just at the national average rates, Bankers is the cheaper of the two companies, offering average rates of $171 a month compared to $274 for Plymouth Rock Assurance. However, Bankers won't necessarily be the lowest company for each driver, since there are several different factors (things like age, gender, driving record, etc.) that play a role in how much you pay.

Who is better, Bankers or Plymouth Rock Assurance?

Sadly, the answer truly is "it depends.". No single carrier is "better" for everyone -- it all comes down to what your unique car insurance profile looks like.

Why do Bankers and Plymouth Rock Assurance offer me different rates?

Insurance carriers take a look at lots of different variables when calculating the premiums they charge policyholders. Things like gender, where you park your vehicle, your driving record, age, and sometimes even things like your credit score can all be used. Both Bankers and Plymouth Rock Assurance calculate prices 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 a range of different companies.

How do I know if Bankers or Plymouth Rock Assurance is right for me?

The only way to find the auto 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, 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 car insurance companies in your area. That way, you can guarantee you're getting the cheapest price. And who knows, the best company for you might not be Bankers or Plymouth Rock Assurance 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.