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

Quick Facts

• In general, Cig offers significantly more affordable prices than Cincinatti Financial
• Cig tends to be a much less expensive option for people who are single and purchasing car insurance by yourself
• Cig has more affordable premiums for couples purchasing insurance together

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

Are you in the market for a new insurance policy? After all, you've seen ads from all sorts of companies offering hefty discounts. But exactly how much can you save by switching?

You've maybe even narrowed it down to Cig or Cincinatti Financial for your next policy, but between the two, which carrier has cheaper rates for car insurance?

As you can see, Cincinatti Financial is quite a bit more expensive than Cig, with premiums averaging $200 per month compared to just $119 with Cig when looking at the national average rates for insurance.

Even so, Cig may not be the cheapest or best option for every driver out there. Auto insurance companies vary their prices depending on things like how clean your driving record is, how good your credit score is, how old you are, where you live, and tons of other factors, so premiums could vary drastically from person to person.

Luckily, we've broken down average rates from both Cig and Cincinatti Financial by a range of different rate factors, so read on to find out which company is the best for you.

Cig or Cincinatti Financial: Average Car Insurance Rates by State

Cig and Cincinatti Financial only compete against each other in one states, with Cig offering less expensive prices to the average driver in all of them. Ohio has the most noticable difference, where Cig premiums are over 15% more affordable than car insurance prices at Cincinatti Financial.

But there's more to insurance than just where you live. As we mentioned above, there's a lot of things that go into how auto insurance carriers calculate your rates. Keep reading to learn more.

Which is the Best Company For Young Drivers?

Teen drivers will almost always have the most expensive insurance premiums of any other group of drivers. It's typically because young, inexperienced drivers are statistically much more likely to get into an accident that results in a car insurance claim, making them much riskier to insure.

That being said, that doesn't mean teen drivers can't still save money on their auto insurance. For example, 18-year-old drivers pay an average of more than $250 less a month by choosing Cig over Cincinatti Financial.

But both companies will offer you dramatically lower prices by the time drivers turn 25. For example, average rates for Cig policyholders reduce over 50% and Cincinatti Financial's premiums decrease more than 60% over that time.

Which is the Best Company for Retired Drivers?

Drivers around retirement age usually enjoy some of the most affordable car insurance rates you'll ever see. After all, they've likely been driving for quite some time, which generally decreases their chances of accidents and other infractions that can increase prices.

So, which carrier offers the best rates to retired drivers? Cig gets the edge, with prices for drivers 65 and older nearly 30% less expensive than the national average for Cincinatti Financial.

Which is the Best Company for Married Drivers?

Did you know that auto insurance premiums are normally more expensive for those who are single than they are for married couples? That's typically because married policyholders tend to own and insure multiple cars, which can often earn you a discount.

When it comes to relationship status, Cig is the clear winner for single drivers, with rates about $103 per month cheaper than Cincinatti Financial, on average. The advantage for married drivers with Cig is also obvious, where drivers save over 35% a month.

Cig vs. Cincinatti Financial: Average Rates by Gender

Because men are more likely to get into collisions and get tickets, they raise the chances of filing a claim with insurance. Therefore, insurance carriers will tend to charge men more than women.

On average, men see prices around 3% per month higher with Cig, while with Cincinatti Financial, the difference is closer to 6% a month.

Looking at the data for each company specifically, Cig comes out on top for both men and women. On average, male drivers save about $85 per month and women save about $76 with Cig compared to the average Cincinatti Financial policyholder.

Cig 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.

It's no secret that insurance can be pretty complicated. Everyone needs car insurance, but there are so many different limits and coverages that it can be hard to find the right policy.

The two most common policies end up falling into two different types of coverage -- liability only (which covers the other party's injuries and property damage if you cause an accident) and full coverage (which usually refers to having comprehensive and collision coverages alongside liability coverage).

If you're looking for state minimum liability insurance, Cig normally offers significantly more affordable premiums of $71 compared to Cincinatti Financial's $106. When it comes to full coverage policies with similar limits, Cig again has the edge, with policies around $150 a month less expensive than Cincinatti Financial, on average.

Is Cig or Cincinatti Financial Better for Drivers with Spotty Records?

You've probably seen plenty of commercials from insurance companies offering great prices 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 collisions and tickets on your record, but which of these two carriers offers the cheapest premiums to drivers with spotty records?

Which Company is Best for Drivers with Speeding Tickets?

Cig policyholders can expect their rates to go up an average of $24 per month if they get a ticket, while Cincinatti Financial generally raises premiums about $21 a month, on average.

However, Cig tends to offer the best prices for drivers both with a speeding ticket and with a clean record, offering prices that are $34 and $31 cheaper, respectively, compared to Cincinatti Financial.

Which Company is Best for Drivers After an Accident?

Cig drivers who get in a collision can expect to see their rates rise by over 25%, while those who have insurance through Cincinatti Financial will see around a 45% increase.

Overall, drivers who use Cig end up with the cheaper prices after an accident, with monthly prices averaging $118 compared to Cincinatti Financial's $214.

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 car insurance bill -- typically a lot more than an accident or ticket. For example, Cincinatti Financial increases average rates by just under $200 per month -- that's over a 60% increase.

If you have a DUI on your record and are looking for more affordable premiums, Cig tends to be the much more affordable option with average rates of $157 per month compared to $320 from Cincinatti Financial.

How does Credit Score Impact Cig and Cincinatti Financial Rates?

Did you know that many auto insurance companies take your credit score into account when calculating prices? Certain states and carriers do not allow for credit score to be used as a rating factor, but it does affect lots of policyholders out there.

Car insurance companies argue that those with poor credit scores are less likely to pay their bills on time each month, which increases the risk involved on their end, while the opposite is true for those with good credit.

Looking at Cig and Cincinatti Financial specifically, which company has the best premiums for drivers at different credit levels?

Which Company is Best for Drivers with Good Credit?

Which Company is Best for Drivers with Bad Credit?

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

How much you drive can have a substantial impact on how much insurance carriers will charge for coverage. That's because the fewer miles you drive, the less likely you are to get into a collision and cause 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 Cig, with drivers who put 6,000 miles on their vehicle every year paying about $12 less each month compared to those who drive 12,000 miles yearly. Still, Cig is the cheaper option for drivers in both categories.

Cig vs. Cincinatti Financial: Compare Rates for Urban, Suburban, and Rural Drivers

Where you call home can play a considerable role in how much you pay for auto insurance. Usually, those who live in rural areas will pay less than policyholders in urban areas because there are a lot fewer cars on the road in those areas, which lowers the chances of an accident.

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

Drivers in rural ZIP codes see the cheapest premiums from both companies, but Cig comes out on top with average rates around $106 a month. Cig also has less expensive average prices for policyholders in urban and suburban ZIP codes -- a $92 and $74 a month respective difference when compared to Cincinatti Financial drivers in similar areas.

Cig vs. Cincinatti Financial Discounts

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

But where do you even start? With so many discounts out there, it may seem difficult to find all the of the ones you qualify for.

In the table below, we've broken down all of the different discounts offered by both Cig and Cincinatti Financial so that you can see which one offers the most discounts and see which ones you might be able to take advantage of.

Cig blows Cincinatti Financial away when it comes to the sheer amount of discounts available, offering 25 different discounts to Cincinatti Financial's 10.

Both carriers offer several of the same discounts -- like discounts for being a defensive driver, discounts for being a good student, and multi-policy discounts -- but Cig also offers ABS discounts, company car 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 -- COVID-19 relief discount and special large ded discounts.

Final Thoughts: Is Cig or Cincinatti Financial Best for You?

So, you've seen how different factors can affect your auto insurance premiums. We've broken down the different discounts each company offers, too. But, at the end of the day, which carrier is the right carrier for you and your specific profile and needs?

Cig might be best for you if....

• You've received a ticket for speeding recently and don't want to see your prices climb.
• Your home is in a busy urban area.
• You drive fewer than 6,000 miles annually.

Cincinatti Financial might be best for you if...

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

We hope this guide helps you get a better idea of the difference between Cig and Cincinatti Financial and that you can now make a more informed decision when it comes to your insurance.

At the end of the day, the sure-fire way to make sure you're getting the best deal on your auto insurance policy is to compare quotes from multiple companies, not just Cig and Cincinatti Financial. Luckily, Compare.com does all the hard work for you. Simply enter your ZIP codes below and get multiple quotes from some of the best car insurance carriers in your area, all for free.

Cig vs. Cincinatti Financial FAQs

Is Cig or Cincinatti Financial cheaper?

Looking just at the national average rates, Cig is the cheaper of the two companies, offering average rates of $119 per month compared to $200 for Cincinatti Financial. That being said, Cig won't necessarily be the most affordable company for every driver, since there are a bunch of different variables that are considered when it comes to your insurance bill.

Who is better, Cig or Cincinatti Financial?

Unfortunately, the answer truly is "it depends.". No one carrier is "better" for everyone -- it all boils down to your unique auto insurance profile.

Why do Cig and Cincinatti Financial offer me different rates?

Insurance carriers take a look at a lot of different factors when determining the premiums they charge policyholders. Things such as gender, your driving record, age, where your home is, and sometimes even things like your credit score can all be taken into consideration. Both Cig and Cincinatti Financial calculate prices differently, so each one will most likely offer different rates. The only real way to see which company is the lowest for you is by comparing personalized quotes from several different companies.

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

The only way to find the car 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, sites like Compare.com do all the hard work for you. Just enter your ZIP code and you'll get free quotes from dozens of the best auto insurance companies in your area. That way, you can guarantee you're getting the best premium. And who knows, the best company for you might not be Cig 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.