Bankers vs. Quincy Mutual Group: Which Company is the Best Fit for You?

If you're in the market for a new car insurance policy, you might be wondering how Quincy Mutual Group and Bankers compare when it comes to the cheapest prices and biggest discounts. To find out which of these companies is the best fit for you and your wallet, check out our newest guide below.
Newly insured car driving down the road
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Quick Facts

  • Based on national averages for auto insurance, Bankers offers significantly less expensive rates than Quincy Mutual Group
  • Bankers offers cheaper average premiums for policyholders who live in urban areas
  • Quincy Mutual Group offers more affordable prices for policyholders who live in suburban areas

Bankers or Quincy Mutual Group: Which Company has the Cheapest Car Insurance?

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

You might be considering Bankers or Quincy Mutual Group, but which one has more affordable rates for insurance?

Bankers Quincy Mutual Group

Looking at the national average rates for both carriers, Quincy Mutual Group has average rates that are around 30% a month more expensive than those from Bankers.

Even so, that doesn't mean Bankers will necessarily be less expensive than Quincy Mutual Group for every driver. Car insurance companies vary their premiums depending on things like where you live, how good your credit score is, how old you are, how clean your driving record is, and a variety of other factors, so rates could differ drastically from person to person.

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

Bankers vs. Quincy Mutual Group: Average Car Insurance Rates by State

State Bankers Quincy Mutual Group

Bankers and Quincy Mutual Group only compete against each other in one states, with Quincy Mutual Group offering cheaper prices to the average driver in all of them. Massachusetts has the most noticable difference, where Quincy Mutual Group rates are $19 more affordable than auto insurance premiums at Bankers.

But there's more to car insurance than just where you call home. As we mentioned above, there's a lot of things that go into how auto insurance carriers determine your prices. Read on to learn more.

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Which is the Best Company For Young Drivers?

Bankers Quincy Mutual Group
18-year-old drivers$351$510
25-year-old drivers$160$241

Teen drivers will almost always have the most expensive insurance premiums of any other group of drivers. The reason is that 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 rates, teen drivers can still find ways to save money. As you can see above, teens who use Bankers save over 30% per month compared to those who use Quincy Mutual Group.

But both companies will offer you dramatically lower prices once you turn 25. Quincy Mutual Group offers the steepest drop, with 25-year-olds paying less than half what 18-year-old drivers are charged. That being said, Bankers still has the most affordable rates at $160 monthly.

Which is the Best Company for Retired Drivers?

Bankers Quincy Mutual Group
65+-year-old drivers$132$168

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 prices for retired drivers between Bankers and Quincy Mutual Group? Bankers gets the edge, with premiums for drivers 65 and older more than 20% less expensive than the national average for Quincy Mutual Group.

Which is the Best Company for Married Drivers?

Bankers Quincy Mutual Group

Did you know that auto insurance rates are normally more expensive for those who are single than they are for married couples? This usually boils down to married drivers having multiple vehicles on their policy -- something quite a few insurance carriers will reward with discounts.

For single drivers, the difference in average prices between these two companies is significant, with Bankers rates coming in at a quarter less than Quincy Mutual Group's. The advantage is also clear for married policyholders - Bankers offers the most affordable average prices.

Bankers or Quincy Mutual Group: Average Rates by Gender

Bankers Quincy Mutual Group

Men are statistically more likely than women to get speeding tickets and get into collisions. That means when it comes to auto insurance men will typically end up paying a little more.

Generally, women see premiums almost 10% a month less with Bankers, but with Quincy Mutual Group, the difference is closer to 5% per month.

When it comes to the cheapest prices for each gender, Bankers comes out on top for both men and women. On average, male drivers save about $64 a month and women save about $69 with Bankers compared to the average Quincy Mutual Group policyholder.

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Bankers vs. Quincy Mutual Group: Compare State Minimum vs. Full Coverage Rates

Bankers Quincy Mutual Group
State Minimum*$66$145
Full Coverage**$277$330

*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.

Car insurance can be a complicated subject for most people. There are many different coverages that account for lots of 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.

That being said, the most common policies that drivers look at fall into two categories -- liability coverage (that covers property damage and bodily injury 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 liability).

Looking specifically at state minimum limits for liability insurance, Bankers has the significant edge, with average monthly rates coming in at $66. If you want a full coverage policy with the same state minimum limits, Bankers again has the edge, with policies averaging around $277 per month to Quincy Mutual Group's $330.

Is Bankers or Quincy Mutual Group Better for Drivers with Spotty Records?

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

You'll probably end up paying more with speeding tickets and at-fault collisions on your record, but which of these two carriers offers the lowest premiums to drivers with less-than-perfect records?

Which Company is Best for Drivers with Speeding Tickets?

Bankers Quincy Mutual Group
Clean Record$121$174
1 Speeding Ticket$141$219

Policyholders who use Bankers for their car insurance can usually expect their monthly bill to go up about 14% after getting a speeding ticket. Quincy Mutual Group policyholders can expect a bit more drastic of an increase of around 21%.

However, Bankers is generally the cheaper option for both drivers who have a recent ticket and those with clean records, offering prices that are 30% and 36% more affordable, respectively, compared to Quincy Mutual Group.

Which Company is Best for Drivers After an Accident?

Bankers Quincy Mutual Group
Clean Record$121$174
1 At-Fault Accident$186$186

Bankers drivers who get in a collision can expect to see their rates rise by just under 35%, while those who have insurance through Quincy Mutual Group will see about a 6% increase.

At the end of the day, the cheaper premiums come from Bankers, with average prices coming in at $186 compared to Quincy Mutual Group's $186.

Which Company is Best for Drivers with a DUI?

Bankers Quincy Mutual Group
Clean Record$121$174
1 DUI$238$370

If you get a DUI charge, you can expect some pretty significant increases in your monthly auto insurance bill -- usually a lot more than an accident or speeding ticket. Quincy Mutual Group drivers usually see a 53% climb in their insurance rates after a DUI charge, while Bankers will generally increase premiums by around 49%.

But if you end up with a DUI charge and are looking for more affordable prices, Bankers tends to be more affordable for the average driver, with monthly premiums coming in at about $238 to Quincy Mutual Group's $370.

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How does Credit Score Impact Bankers and Quincy Mutual Group Rates?

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

The reasoning car insurance companies use is that drivers 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 best prices for policyholders with good, average, or poor credit?

Which Company is Best for Drivers with Good Credit?

Bankers Quincy Mutual Group
Excellent Credit Score$121$126
Good Credit Score$132$193

If you have great credit, Bankers will normally reward you the most. For drivers with "excellent" credit scores, Bankers comes in NaN less expensive. Drivers with "good" credit scores typically save around 32% with Bankers compared to average rates from Quincy Mutual Group.

Which Company is Best for Drivers with Bad Credit?

Bankers Quincy Mutual Group
Fair Credit Score$157$274
Poor Credit Score$194$415

Bankers typically offers lower premiums than Quincy Mutual Group when it comes to drivers with less-than-perfect credit. Drivers with "fair" credit pay about 43% a month less with Bankers compared to Quincy Mutual Group, and those with "poor" scores usually save an average of around 53% per month.

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Is Bankers or Quincy Mutual Group Better for Drivers who Work from Home or Have Short Commutes?

Bankers Quincy Mutual Group
6,000 Annual Miles$170$221
12,000 Annual Miles$173$254

The amount of time you spend behind the wheel of your car plays a big role in your monthly prices. Generally, the more milage you put on your vehicle, the more you can expect to pay for coverage.

For both remote workers and those taking short commutes, Bankers offers cheaper rates than Quincy Mutual Group. Bankers average premiums for drivers with 6,000 annual miles come in more than $50 more affordable than Quincy Mutual Group. Those who drive 12,000 miles annually can expect to pay over $80 less with Bankers over Quincy Mutual Group.

Bankers or Quincy Mutual Group: 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 large impact as well. Normally, policyholders who live in heavily-populated urban areas will pay quite a bit more than rural drivers since there are a lot more cars on the roads where they live.

Bankers Quincy Mutual Group
Urban Areas$172$308
Suburban Areas$226$224
Rural Areas$114$180

Looking at these carriers side-by-side, Bankers tends to offer the cheapest option for drivers in rural and urban areas, while Quincy Mutual Group wins in suburban areas.

Those in rural areas can expect to save about 37% with Bankers compared to Quincy Mutual Group. People who live in suburban areas pay around 1% less with Quincy Mutual Group compared to Bankers. For policyholders in urban ZIP codes, Bankers Insurance's average prices are about 44% less than Quincy Mutual Group.

Bankers vs. Quincy Mutual Group Discounts

No matter why you might be in the market for a new car insurance policy, you're always going to want to save as much money as you can, and the best way to do that is by utilizing as many insurance discounts as possible.

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.

Luckily, we did the hard work for you and broke down all of the different discounts offered by both Bankers and Quincy Mutual Group so that you can see which company offers the most discounts and see which ones you might be able to take advantage of.

Bankers Quincy Mutual Group
ABS Discount
Advance Quote Discount 
Annual Mileage Discount
Anti-Theft Discount
Continuous Insurance Discount
Defensive Driver Discount
Distant Student Discount
Driver Training Discount 
Employers Subject to MA Worker Discount
Excess Vehicle Discount 
Good Driving Discount
Good Student Discount
Group Discount
Mature Driver Discount 
Multi-Car Discount
Multi-Policy Discount
Paid In Full Discount 
Passive Restraint Discount
Renewal Discount 
Superior Client Discount 

Overall, Quincy Mutual Group has a slight advantage when it comes to total number of discounts. Bankers offers a grand total of 16 discounts, while Quincy Mutual Group has 18.

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. Quincy Mutual Group also offers discounts for advance quote, mature driver, paid in full, and more.

On the other hand, Bankers has a few proprietary discounts of their own for things like driver training discounts, excess vehicle discounts, and valuables credit discounts.

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Final Thoughts: Is Bankers or Quincy Mutual Group Best for You?

So, we've broken down the average rates for many of the variables auto insurance companies look at, and we've shown you all the discounts each company offers. That's all well and good, but when it comes down to it, which carrier is the right carrier for you, your vehicle, and your wallet?

Bankers might be best for you if....

  • You have a clean record.
  • Your credit is less-than-stellar.
  • You're of retirement age and want to take advantage of lower premiums.

Quincy Mutual Group might be best for you if...

  • You're looking for the company with the most discounts.
  • Your home is located in the suburbs.

Hopefully, this guide has ben a valuable resource as you compare Bankers and Quincy Mutual Group. We also hope we've given you the information you need to make the best decision about your 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 car insurance -- comparing quotes from several carriers, not just Bankers and Quincy Mutual Group. Luckily, sites like make it easy for you to do just that. Just enter your ZIP code below and get free quotes from dozens of the top auto insurance companies in your area, all in just a few minutes.

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Bankers vs. Quincy Mutual Group FAQs

Is Bankers or Quincy Mutual Group cheaper?

Bankers is the less expensive of the two carriers when looking at national average prices, with policies averaging $171 per month with Bankers and $237 for Quincy Mutual Group. That being said, that doesn't mean Bankers will be the lowest carrier for every policyholder, since there are multiple different factors (things like age, driving record, gender, etc.) that play a role in how much you pay.

Who is better, Bankers or Quincy Mutual Group?

Sadly, the real answer is "it depends.". Neither company is "better" for everyone -- it all depends on the makeup of your unique insurance profile.

Why do Bankers and Quincy Mutual Group offer me different rates?

Car insurance companies use a lot of different variables when calculating the premiums they charge. Things like gender, age, your driving record, where you park your vehicle, and sometimes even things like your credit score can all come into play. Both Bankers and Quincy Mutual Group calculate rates using different factors, so it's likely they'll offer different prices. The best way to determine which carrier is the most affordable for you is by comparing personalized quotes from a range of different carriers.

How do I know if Bankers or Quincy Mutual Group is right for me?

The only way to find the auto insurance company that's right for you is by getting quotes from multiple companies and finding the one best suited for your individual budget. Luckily, makes it easy for you to do just that. Just enter your area information and you'll get quotes from dozens of your local top insurance carriers for free. With those, you can guarantee you're getting the best rate. And maybe you'll find that the best carrier for you isn't Bankers or Quincy Mutual Group at all, but another you hadn't even thought of!


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.

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