Buckeye vs. Depositors: Which Company is the Best Fit for You?

Quick Facts

• In general, Buckeye offers cheaper prices than Depositors
• Buckeye offers more affordable rates for policyholders who have a clean record
• Depositors offers more affordable average premiums for drivers with a DUI

Buckeye or Depositors: Which Company has the Cheapest Car Insurance?

So, you're thinking about switching to 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 have narrowed it down to Buckeye or Depositors, but which company will save you the most?

As you can see, Depositors has average rates that are around 11% a month more expensive than those from Buckeye when looking at the national average rates for auto insurance.

That being said, that doesn't mean Buckeye will necessarily be less expensive than Depositors for each driver. Insurance carriers vary their prices depending on things like how old you are, where you live, how good your credit score is, how clean your driving record is, and tons of other factors. So, at the end of the day, rates from every company will differ quite a bit from person to person.

So, if you want to find out which of Buckeye or Depositors is really the best for you, keep reading to see average prices for each carrier broken down by multiple different rate factors.

Buckeye vs. Depositors: Average Car Insurance Rates by State

Buckeye and Depositors only compete against each other in one states, with Depositors offering cheaper premiums to the average driver in all of them. Indiana has the most noticable difference, where Depositors prices are $2 more affordable than car insurance premiums at Buckeye.

That being said, there's a lot more that goes into your insurance payment than just your home state. Keep reading to learn more.

Which is the Best Company For Young Drivers?

Teen drivers will almost always have the most expensive auto insurance rates 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. For example, 18-year-old drivers pay an average of over 15% less per month by choosing Buckeye over Depositors.

Even so, both companies will offer you dramatically lower premiums by the time you turn 25. For example, average rates for Buckeye policyholders drop about $150 and Depositors's premiums reduce around $200 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 cheapest prices out there.

So, which company offers the best rates to retired drivers? Buckeye gets the slight edge here, with average premiums coming in at about $105 monthly compared to Depositors's $111.

Which is the Best Company for Married Drivers?

You may not be aware, but auto insurance prices tend to be less expensive for married policyholders than they are for those who are single. That's because policies for married couples typically cover several vehicles, which quite a few carriers will give you a discount for.

For single policyholders, the difference in average rates between these two companies is significant, with Buckeye prices coming in at around 10% less than Depositors's. But for married drivers, that advantage is much less clear - Buckeye offers the lowest average premiums , but the difference is only $7.

Buckeye or Depositors: Average Rates by Gender

Men normally pay more for car insurance than women. That's because women are less likely to get tickets and get into collisions, which decreases the chances of filing a claim with insurance.

Typically, women see rates about $15 a month cheaper with Buckeye, and around $9 less with Depositors.

Looking at overall affordability, Buckeye comes out on top for both men and women. On average, women save about $18 per month and men save about $12 with Buckeye compared to the average Depositors policyholder.

Buckeye vs. Depositors: 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.

It's no secret that insurance can be a complicated subject for most people. There are a range of different coverages that account for a bunch 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.

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 usually refers to having collision and comprehensive coverages in addition to what you get with liability coverage).

Looking specifically at state minimum liability insurance, Buckeye has the edge, with average monthly premiums coming in at $73. If you want a full coverage policy with the same state minimum limits, Buckeye again has the edge, with policies averaging around $191 a month to Depositors's $211.

Is Buckeye or Depositors Better for Drivers with Spotty Records?

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

Speeding tickets and collisions will most likely raise your rates, but is Buckeye or Depositors less expensive for drivers with spotty records?

Which Company is Best for Drivers with Speeding Tickets?

Policyholders who use Buckeye for their car insurance can generally expect their monthly bill to go up about 7% after getting a speeding ticket. Depositors policyholders can expect a bit more drastic of an increase of around 18%.

However, Buckeye tends to offer the best prices for both drivers who have clean records and those with a recent ticket, offering prices that are $25 and $43 more affordable, respectively, compared to Depositors Insurance Company.

Which Company is Best for Drivers After an Accident?

Buckeye drivers who get in a collision can expect to see their premiums climb by over $15, while those who have insurance through Depositors will see about a $50 increase.

At the end of the day, drivers who use Buckeye end up with the cheaper prices after an accident, with average prices coming in at $98 compared to Depositors Insurance Company's $157.

Which Company is Best for Drivers with a DUI?

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. On average, Buckeye will raise your rates around 69% after a DUI, while Depositors's average prices rise by more than 45%.

But if you end up with a DUI charge and are looking for more affordable rates, Depositors tends to be less expensive for the average driver, with monthly premiums coming in at about $198 to Buckeye's $263.

How does Credit Score Impact Buckeye and Depositors Rates?

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

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, drivers with good credit will often be rewarded with more affordable rates.

Looking at Buckeye and Depositors specifically, which carrier has the best premiums for policyholders at different credit levels?

Which Company is Best for Drivers with Good Credit?

Which Company is Best for Drivers with Bad Credit?

Is Buckeye or Depositors 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 how much auto insurance companies will charge for coverage? Generally, those who drive fewer miles will end up with cheaper prices since there's less of a chance of causing a collision and filing an insurance claim.

In this case, neither Buckeye or Depositors report increasing rates for drivers with higher annual mileage figures. Even so, Buckeye comes out as the most affordable for drivers at both intervals, whether they put 6,000 or 12,000 miles on their car each year, with average premiums of $132 per month for both.

Buckeye or Depositors: Compare Rates for Urban, Suburban, and Rural Drivers

Where your home is can play a substantial role in how much you pay for insurance. Typically, drivers who live in less densely populated rural areas will pay quite a bit less than urban policyholders because of the small number of vehicles that are on the roads where they live.

Buckeye boasts the cheapest average prices in rural and urban areas, while Depositors wins in suburban areas.

For drivers in urban ZIP codes, Buckeye Insurance Group's average rates are around $43 less than Depositors Insurance Company. People who live in suburban areas pay about $20 less with Depositors compared to Buckeye. Those in rural areas can expect to save around $23 with Buckeye compared to Depositors.

Buckeye vs. Depositors 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. That's where insurance discounts comes into play.

But where do you even start? With what seems like a million different discounts out there, it may be difficult to find all the ones you're eligible for.

Luckily, we did the hard work for you and looked at all of the different discounts Buckeye and Depositors offer their customers so that you can see which one offers the most discounts and see which ones you might be able to take advantage of.

Depositors blows Buckeye away when it comes to the sheer amount of discounts available, offering 17 different discounts to Buckeye's seven.

There are a couple discounts both carriers offer, but Depositors also offers discounts for advance quote, COVID-19 relief, EFT, and more.

On the other hand, Buckeye has a few proprietary discounts of their own for things like anti-theft discounts, paid in full discounts, and renewal discounts.

Final Thoughts: Is Buckeye or Depositors Best for You?

You've seen the effect certain variables have on your auto insurance and the different discounts companies offer. That's all well and good, but when it comes down to it, which insurance carrier is the best company for you, your vehicle, and your wallet?

Buckeye might be best for you if....

• You will be the only person on the car insurance policy.
• You want the most robust protection via a "full coverage" policy.
• You're married and plan to have both of your names on the vehicle's auto insurance policy.

Depositors might be best for you if...

• Your driving record includes a DUI charge.
• You care about discounts (Depositors offers the most).
• You live in an suburban area.

Hopefully, this guide helps you get a good idea of the differences between Buckeye and Depositors 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 carriers, not just Buckeye and Depositors. 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 top auto insurance companies in your area, all in just a few minutes.

Buckeye vs. Depositors FAQs

Is Buckeye or Depositors cheaper?

Buckeye is the less expensive of the two carriers when looking at national average prices, with policies averaging $132 a month with Buckeye and $148 for Depositors. But that doesn't mean Buckeye will be the most affordable company for every policyholder, since there are many different factors (things like age, gender, driving record, etc.) that play a role in how much you pay.

Who is better, Buckeye or Depositors?

Sadly, the real answer is "it depends.". No single carrier is necessarily "better" for everyone -- it all boils down to your unique insurance profile. For example, Buckeye is more affordable for drivers with excellent credit, while Depositors offers cheaper premiums for drivers with a recent DUI.

Why do Buckeye and Depositors offer me different rates?

Car insurance companies use lots of different variables when calculating the prices they charge. Things such as where you park your car, where you call home, age, gender, and sometimes even things like your credit score can all be taken into consideration. Both Buckeye and Depositors calculate premiums using different factors, so it's likely they'll offer different rates. The best way to determine which company is the lowest for you is by comparing personalized quotes from lots of different carriers.

How do I know if Buckeye or Depositors is right for me?

The only way to find the insurance carrier that's right for you is by getting quotes from multiple companies 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 quotes from dozens of your local top car insurance carriers for free. That way, you can guarantee you're getting the best rate. And maybe you'll find that the best company for you isn't Buckeye or Depositors 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.