Central Mutual vs. Cincinatti Financial: Which Company is the Best Fit for You?

Quick Facts

• Based on national averages for car insurance, Cincinatti Financial offers significantly less expensive rates than Central Mutual
• Central Mutual offers more discounts than Cincinatti Financial
• Cincinatti Financial offers cheaper average premiums for policyholders who live in the suburbs

Central Mutual vs. Cincinatti Financial: Which Company has the Cheapest Car Insurance?

So, you're thinking about switching your auto insurance. You've probably seen commercials and billboards from companies offering huge discounts, but exactly how much money can you save by switching?

You've maybe even narrowed it down to Central Mutual or Cincinatti Financial for your next policy, but between the two, which one will save you the most?

Looking at the national average rates for both companies, Central Mutual has average rates that are about 40% per month more expensive than those from Cincinatti Financial.

That being said, that doesn't mean Cincinatti Financial will necessarily be more affordable than Central Mutual for each driver. Auto insurance carriers use tons of complex algorithms to calculate rates, so depending on how old you are or how good your credit score is (among numerous other factors), you could see wildly different prices from the ones above.

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

Central Mutual or Cincinatti Financial: Average Car Insurance Rates by State

Central Mutual and Cincinatti Financial only compete against each other in one states, with Central Mutual offering cheaper rates to the average driver in all of them. Ohio has the most noticable difference, where Central Mutual premiums are over 40% less expensive than car insurance prices at Cincinatti Financial.

But there's more to calculating insurance premiums than just where you live. 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. Typically, that's because young, inexperienced drivers are statistically much more likely to get into accidents since they have less experience on the roads.

But that doesn't mean teen drivers can't still save money on their insurance. For example, 18-year-old drivers pay an average of nearly $85 less a month by choosing Cincinatti Financial over Central Mutual.

However, with both companies, you'll see your prices decrease significantly once you turn 25. Cincinatti Financial offers the steepest reduction, with 25-year-olds paying less than a third of what 18-year-old drivers are charged. Central Mutual's average premiums drop almost 45% during that same period.

Which is the Best Company for Retired Drivers?

Drivers around retirement age generally enjoy some of the lowest auto insurance prices you can find. After all, they've likely been driving for quite some time, which normally decreases their chances of accidents and other infractions that can increase rates.

But who has the best prices for retired drivers between Central Mutual and Cincinatti Financial? Cincinatti Financial gets the edge, with premiums for drivers 65 and older more than 55% more affordable than the national average for Central Mutual.

Which is the Best Company for Married Drivers?

Did you know that car insurance rates are usually more expensive for single drivers than they are for married policyholders? That's normally because married couples tend to own and insure more than one car, which can often earn you a discount.

When it comes to relationship status, Cincinatti Financial is the clear winner for single policyholders, with premiums around $131 per month cheaper than Central Mutual, on average. The advantage for married drivers with Cincinatti Financial is also obvious, where drivers save over $150 a month.

Central Mutual vs. Cincinatti Financial: Average Rates by Gender

Men are statistically more likely than women to cause a collision and get into accidents, which means they'll usually end up paying more for insurance than women.

Women generally pay nearly $15 per month less than men with Central Mutual, and about $15 with Cincinatti Financial.

When it comes to the cheapest rates for each gender, Cincinatti Financial comes out on top for both men and women. On average, male drivers save about $141 a month and women save around $140 with Cincinatti Financial compared to the average Central Mutual policyholder.

Central Mutual or Cincinatti Financial: 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.

Auto 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.

The two most common policies that many drivers look at fall into two categories -- liability only (that covers property damage and bodily injury for other drivers if you cause an accident) and full coverage (which includes two additional coverages -- comprehensive and collision -- in addition to what you get with liability coverage).

If you're looking for state minimum limits for liability insurance, Cincinatti Financial typically offers significantly more affordable prices of $106 compared to Central Mutual's $174. When it comes to full coverage policies with similar limits, Cincinatti Financial again has the edge, with policies about $200 per month less expensive than Central Mutual, on average.

Is Central Mutual or Cincinatti Financial Better for Drivers with Spotty Records?

It's no big secret that drivers who are accident-free get better deals on their insurance. But even if you have a spotty record, you can still find plenty of ways to save some cash on your monthly bill.

It's no secret secret that at-fault collisions and tickets lead to higher rates, but which carrier -- Central Mutual or Cincinatti Financial -- has the lowest prices for drivers with spotty records?

Which Company is Best for Drivers with Speeding Tickets?

Central Mutual policyholders can expect their premiums to go up an average of $84 a month if they get a ticket, while Cincinatti Financial normally raises prices around $21 per month, on average.

Even so, Cincinatti Financial tends to offer the best prices for both drivers who have clean records and those with a recent speeding ticket. Drivers with a clean record can save about $120 a month and drivers with a ticket can save around $183 per month with Cincinatti Financial.

Which Company is Best for Drivers After an Accident?

Central Mutual drivers who get in a collision can expect to see their rates rise by just under $70, while those who have insurance through Cincinatti Financial will see about a $90 increase.

Overall, Cincinatti Financial offers the cheapest premiums for drivers with an at-fault accident on their records, with monthly rates averaging $214 compared to Central Mutual Insurance's $311.

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 speeding ticket or even an accident. On average, Central Mutual will climb your prices around 50% after a DUI, while Cincinatti Financial's average premiums climb by over 60%.

If you have a DUI on your record and are looking for more affordable prices, Cincinatti Financial tends to be the much more affordable option with average premiums of $320 per month compared to $482 from Central Mutual.

How does Credit Score Impact Central Mutual and Cincinatti Financial Rates?

Did you know that many car insurance carriers take your credit score into account when calculating rates? Certain states and companies do not allow for credit score to be used as a rating factor, but it might come into play for several policyholders.

The reasoning auto insurance carriers use is that drivers with bad credit will be less likely to pay their bills on time; so usually, they'll be asked to pay more, while those with good credit will be rewarded with cheaper prices.

So, which company offers the most affordable premiums for policyholders with poor, average, or good credit?

Which Company is Best for Drivers with Good Credit?

Which Company is Best for Drivers with Bad Credit?

Is Central Mutual or Cincinatti Financial Better for Drivers who Work from Home or Have Short Commutes?

The amount of time you spend behind the wheel of your car plays a big role in your monthly rates. Generally, those who drive fewer miles will end up with less expensive prices since there's less of a chance of getting into a collision 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 Cincinatti Financial charges. However, there's a small difference in monthly rates for Central Mutual, with drivers who put 6,000 miles on their vehicle yearly paying about $10 less each month compared to those who drive 12,000 miles annually. Still, Cincinatti Financial is the more affordable option for drivers in both categories.

Central Mutual vs. Cincinatti Financial: 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 car insurance, but the type of area you live in can have a large impact as well. Typically, those who live in urban areas will pay more than drivers in rural areas because there are a lot more cars on the road in those areas, which increases the chances of an accident.

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

Policyholders in rural ZIP codes see the lowest premiums from both companies, but Cincinatti Financial comes out on top with average rates around $182 monthly. Cincinatti Financial also has less expensive average premiums for drivers in urban and suburban ZIP codes -- a $309 and $66 a month respective difference when compared to Central Mutual policyholders in similar areas.

Central Mutual vs. Cincinatti Financial Discounts

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

But with what seems like a million different discounts out there, it can be difficult to nail down the company that has the most discounts for your unique driver profile and to find all the discounts you're eligible for.

Below, we've broken down all of the different discounts offered by both Central Mutual and Cincinatti Financial so that you can easily see which company offers the most discounts and, therefore, the biggest savings.

Looking at the total number of discounts, Central Mutual comes out ahead with 15 discounts to Cincinatti Financial's 10.

There are a couple discounts both carriers offer, but Central Mutual also offers ABS discounts, book transfer policy discounts, distant student discounts, and more that Cincinatti Financial does not.

On the flip side, Cincinatti Financial has a couple unique discounts of its own -- advance quote discounts, COVID-19 relief discount, discounts for being a homeowner, and more.

Final Thoughts: Is Central Mutual or Cincinatti Financial Best for You?

So, you've seen how different factors can affect your auto insurance prices. We've broken down the different discounts each carrier offers, too. That's all well and good, but when it comes down to it, which company is the right carrier for you, your vehicle, and your wallet?

Cincinatti Financial might be best for you if....

• You have below-average credit.
• Your home is located in the suburbs.
• You drive fewer than 12,000 miles every year.

Central Mutual might be best for you if...

• You want to save extra money with discounts.

We hope this guide has ben a valuable resource as you compare Central Mutual and Cincinatti Financial. We also hope we've given you the information you need to make the best 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 auto insurance policy is to compare quotes from several companies, not just Central Mutual and Cincinatti Financial. 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 insurance carriers in your area, all in just a few minutes.

Central Mutual vs. Cincinatti Financial FAQs

Is Central Mutual or Cincinatti Financial cheaper?

Looking just at the national average premiums, Cincinatti Financial is the cheaper of the two companies, offering average rates of $200 per month compared to $340 for Central Mutual. But Cincinatti Financial won't necessarily be the most affordable carrier for everyone, since there are a range of different variables (things like gender, age, driving record, etc.) that play a role in how much you pay.

Who is better, Central Mutual or Cincinatti Financial?

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

Why do Central Mutual and Cincinatti Financial offer me different rates?

Car insurance carriers take a look at many different factors when determining the rates they charge drivers. Things such as where you live, where your home is, age, gender, and sometimes even things like your credit score can all come into play. Both Central Mutual and Cincinatti Financial calculate prices using different variables, so each one will most likely offer different premiums. The only real way to see which carrier is the cheapest for you is by comparing personalized quotes from a bunch of different companies.

How do I know if Central Mutual or Cincinatti Financial is right for me?

The only way to find the insurance company that's right for you is by getting quotes from a handful of carriers 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 free quotes from dozens of the best auto insurance companies in your area. With those, you can guarantee you're getting the lowest rate. And who knows, the best carrier for you might not be Central Mutual or Cincinatti Financial 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.