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

Wondering if Cameron Mutual or Depositors is the best auto insurance carrier for you, your vehicle, and your wallet? We've broken down all the premiums and discounts for both companies to help you make a more informed decision. Read on to learn more.
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Quick Facts

  • Looking at the national averages for insurance, Cameron Mutual offers cheaper rates than Depositors
  • Cameron Mutual tends to be a much more affordable option for policyholders who drive fewer than 12,000 miles every year
  • Depositors may help you save more money -- they offer more discounts than Cameron Mutual Insurance Company

Cameron Mutual or Depositors: Which Company has the Cheapest Car Insurance?

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

You've maybe even narrowed it down to Cameron Mutual or Depositors, but which carrier will save you the most?

Cameron Mutual Depositors

Looking at nationwide averages, Depositors is around $24 more a month than Cameron Mutual.

Even so, Cameron Mutual may not be the lowest or best option for each driver out there. Car insurance carriers use a variety of complex algorithms to determine prices, so depending on how clean your driving record is or how good your credit score is (among a variety of other factors), you could see wildly different rates from the ones above.

Luckily, we've broken down average premiums from both Cameron Mutual and Depositors by multiple different rate factors, so read on to find out which company is the best for you.

Cameron Mutual vs. Depositors: Average Car Insurance Rates by State

State Cameron Mutual Depositors

Cameron Mutual and Depositors only compete against each other in one states, with Cameron Mutual offering less expensive prices to the average driver in all of them. Iowa has the most noticable difference, where Cameron Mutual premiums are $6 more affordable than auto insurance rates at Depositors.

But there's more to car insurance than just the state you live in. As we mentioned above, there's a lot of things that go into how insurance companies calculate your prices. Read on to learn more.

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Which is the Best Company For Young Drivers?

Cameron Mutual Depositors
18-year-old drivers$280$311
25-year-old drivers$123$132

You might already know that teen drivers usually pay a lot more for car insurance than any other group of drivers out there on the road. It's because teen 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 rates, teen drivers can still find ways to save money. For example, 18-year-old drivers pay an average of over 10% less per month by choosing Cameron Mutual over Depositors.

But with both carriers, you'll see your premiums decrease significantly once you turn 25. For example, average prices for Cameron Mutual policyholders drop about $150 and Depositors's premiums reduce around $200 over that time.

Which is the Best Company for Retired Drivers?

Cameron Mutual Depositors
65+-year-old drivers$79$111

When it comes to auto insurance, patience and experience pay off, with drivers around retirement age paying some of the most affordable rates you can find.

When looking at Cameron Mutual and Depositors specifically, which carrier is best for retired drivers? Cameron Mutual gets the edge, with prices for drivers 65 and older almost 30% cheaper than the national average for Depositors.

Which is the Best Company for Married Drivers?

Cameron Mutual Depositors

You may not be aware, but insurance premiums tend to be less expensive for married drivers than they are for single drivers. That's because policies for married couples normally cover multiple vehicles, which quite a few companies will give you a discount for.

For those who are single, the difference in average prices between these two carriers is significant, with Cameron Mutual rates coming in at about 15% less than Depositors's. The advantage is also clear for married policyholders - Cameron Mutual offers the cheapest average premiums.

Cameron Mutual or Depositors: Average Rates by Gender

Cameron Mutual Depositors

Women tend to pay less for auto insurance than men. That's because women are less likely to get into accidents and get tickets, which lowers the chances of filing a claim with insurance.

Usually, women see prices nearly 10% a month less with Cameron Mutual, and around 6% less with Depositors.

Looking at overall affordability, Cameron Mutual offers the lowest average rates for both men and women, with average prices 14% less for men and 17% cheaper for women.

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Cameron Mutual vs. Depositors: Compare State Minimum vs. Full Coverage Rates

Cameron Mutual Depositors
State Minimum*$53$84
Full Coverage**$195$211

*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 isn't the easiest topic to understand. Everyone needs insurance, but there are so many different coverages and limits that it can be hard to find the right policy for you.

However, most policies that drivers look at fall into two categories -- liability coverage (that covers bodily injury and property damage for other drivers and passengers if you cause a collision) 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 liability limits, Cameron Mutual has the significant edge, with average monthly rates coming in at $53. If you want a full coverage policy with the same state minimum limits, Cameron Mutual again has the edge, with policies averaging about $195 per month to Depositors's $211.

Is Cameron Mutual or Depositors Better for Drivers with Spotty Records?

You've probably seen plenty of commercials from car insurance companies offering great premiums 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 speeding tickets and collisions on your record, but which of these two carriers offers the most affordable prices to drivers with less-than-ideal driving records?

Which Company is Best for Drivers with Speeding Tickets?

Cameron Mutual Depositors
Clean Record$110$106
1 Speeding Ticket$110$130

Policyholders with Cameron Mutual auto insurance policies don't report seeing their rates increase after getting a ticket, but Depositors policyholders can expect to see their monthly bill increase by around 20%.

If you have gotten a speeding ticket, Cameron Mutual tends to offer the best premiums at about 15% more affordable, while Depositors has the edge for drivers with a clean record.

Which Company is Best for Drivers After an Accident?

Cameron Mutual Depositors
Clean Record$110$106
1 At-Fault Accident$124$157

After an accident, drivers who have their insurance through Cameron Mutual can expect to see around an $14 -- or about 11% -- rise in their auto insurance rates. Drivers who use Depositors for their car insurance will see a monthly bill around $51 (or 32%) more expensive after reporting an accident to their insurance company.

At the end of the day, drivers who use Cameron Mutual end up with the cheaper prices after an accident, with average premiums coming in at $124 compared to Depositors Insurance Company's $157.

Which Company is Best for Drivers with a DUI?

Cameron Mutual Depositors
Clean Record$110$106
1 DUI$152$198

If you get a DUI charge, you can expect some pretty significant increases in your monthly auto insurance bill -- typically a lot more than a collision or ticket. Depositors drivers usually see a 46% increase in their insurance prices after a DUI charge, while Cameron Mutual will generally raise rates by about 28%.

But if you end up with a DUI charge and are looking for more affordable premiums, Cameron Mutual tends to be less expensive for the average driver, with monthly premiums coming in at around $152 to Depositors's $198.

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How does Credit Score Impact Cameron Mutual and Depositors Rates?

Often times, your credit score can come into play when companies determine your monthly bill. This isn't true for everyone (for example, Michigan and Hawaii are two states that ban the practice entirely), but it will come into play for many drivers.

Car insurance carriers argue that someone with bad credit is less likely to pay their bills on time, which makes them riskier to insure. Because of that, policyholders with bad credit will often be forced to pay more.

Looking at Cameron Mutual and Depositors specifically, which company has the cheapest prices for drivers at different credit levels?

Which Company is Best for Drivers with Good Credit?

Cameron Mutual Depositors
Excellent Credit Score$84$117
Good Credit Score$107$134

If you have a great credit score, Cameron Mutual will usually reward you the most. For policyholders with "excellent" credit scores, Cameron Mutual comes in nearly 28.21 cheaper. Drivers with "good" credit scores typically save about 20% with Cameron Mutual compared to average premiums from Depositors.

Which Company is Best for Drivers with Bad Credit?

Cameron Mutual Depositors
Fair Credit Score$126$155
Poor Credit Score$179$185

Cameron Mutual typically offers lower prices than Depositors when it comes to drivers with a below average credit score. Drivers with "fair" credit pay around 19% a month less with Cameron Mutual compared to Depositors, and those with "poor" scores generally save an average of about 3% a month.

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Is Cameron Mutual or Depositors Better for Drivers who Work from Home or Have Short Commutes?

Cameron Mutual Depositors
6,000 Annual Miles$124$148
12,000 Annual Miles$124$148

The amount of time you spend behind the wheel of your car plays a big role in your monthly auto insurance bill. Normally, those who drive fewer miles will end up with more affordable rates since there's less of a chance of causing an accident and filing an insurance claim.

In this case, neither Cameron Mutual or Depositors report increasing premiums for drivers with higher annual mileage figures. Cameron Mutual comes out as the most affordable for drivers at both intervals, whether they put 6,000 or 12,000 miles on their vehicle yearly, with average rates of $124 per month for both.

Cameron Mutual or Depositors: 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 sizable impact as well. Generally, those who live in rural areas will pay less than drivers in urban areas since there are a lot fewer cars on the roads where they live.

Cameron Mutual Depositors
Urban Areas$134$174
Suburban Areas$122$139
Rural Areas$116$130

Cameron Mutual boasts the lowest average premiums for drivers in all types of areas, no matter if they're urban, suburban, or rural.

For policyholders in urban ZIP codes, Cameron Mutual Insurance Company's average prices are around $40 less than Depositors Insurance Company. People who live in suburban areas pay about $17 less with Cameron Mutual compared to Depositors. Those in rural areas can expect to save around $14 with Cameron Mutual compared to Depositors.

Cameron Mutual 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 with what seems like a million different discounts out there, it can be challenging to nail down the company that has the most discounts for your unique driver profile and to find all the discounts you can take advantage of.

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

Cameron Mutual Depositors
Advance Quote Discount 
Covid-19 Relief Discount 
Defensive Driver Discount
Distant Student Discount 
Education Discount 
EFT Discount 
Employee Discount 
Good Driving Discount 
Good Student Discount
Group Discount 
Homeowner Discount 
Intra-Agency Transfer Discount 
Life Policy Discount 
Multi-Car Discount 
Multi-Policy Discount 
New Vehicle Discount 
Paperless Discount 
Passive Restraint Discount
Renewal Discount 
Umbrella Policy Discount 

Depositors knocks Cameron Mutual out of the park when it comes to the sheer number of discounts available, offering 17 different discounts to Cameron Mutual's 17.

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

On the other hand, Cameron Mutual has a few proprietary discounts of their own for things like education discounts, renewal discounts, and umbrella policy discounts.

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Final Thoughts: Is Cameron Mutual or Depositors 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. That's all well and good, but when it comes down to it, which insurance company is the right one for you, your vehicle, and your wallet?

Cameron Mutual might be best for you if....

  • You've received a ticket for speeding recently and don't want to see your rates rise.
  • You live in an suburban area.
  • You're of retirement age and want to take advantage of lower prices.

Depositors might be best for you if...

  • You haven't received any speeding tickets or been in a collision in the last few years.
  • You want to save extra money with discounts.

Hopefully, this guide helps you get a good idea of the differences between Cameron Mutual and Depositors. We also hope we've given you the information you need to make the best decision about your auto 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 Cameron Mutual and Depositors. Luckily, sites like make it easy for you to do just that. Simply enter your ZIP codes below and get free quotes from dozens of top car insurance carriers in your area, all in just a few minutes.

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Cameron Mutual vs. Depositors FAQs

Is Cameron Mutual or Depositors cheaper?

Cameron Mutual is the less expensive of the two companies when looking at national average rates, with policies averaging $124 a month with Cameron Mutual and $148 for Depositors. That being said, that doesn't mean Cameron Mutual will be the most affordable carrier for everyone, since there are a range of different factors (things like age, driving record, gender, etc.) that play a role in how much you pay.

Who is better, Cameron Mutual or Depositors?

Sadly, the real answer is "it depends.". One company is not necessarily "better" for everyone -- it all boils down to your unique auto insurance profile.

Why do Cameron Mutual and Depositors offer me different rates?

Car insurance carriers use a lot of different variables when determining the premiums they charge. Things like your driving record, age, gender, where you live, and sometimes even things like your credit score can all be taken into consideration. Both Cameron Mutual and Depositors calculate prices using different factors, so it's likely they'll offer different premiums. The best way to determine which carrier is the cheapest for you is by comparing personalized quotes from many different companies.

How do I know if Cameron Mutual or Depositors 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, makes it easy for you to do just that. Just enter your ZIP code and you'll get quotes from dozens of your local top insurance companies for free. With those, you can guarantee you're getting the lowest rate. And maybe you'll find that the best carrier for you isn't Cameron Mutual or Depositors 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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