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

Quick Facts

• In general, Pemco offers cheaper premiums than Cig
• Cig offers more discounts than PEMCO Insurance
• Pemco offers less expensive average rates for couples purchasing insurance together

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

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

You might have narrowed it down to Cig or Pemco for your next policy, but between the two, which company will offer you more affordable prices?

Looking at the national average rates for both companies, Pemco is about $12 per month cheaper than Cig.

But that doesn't mean Pemco will necessarily be more affordable than Cig for every driver. Auto insurance carriers vary their premiums depending on things like where you live, how good your credit score is, how clean your driving record is, how old you are, and a ton of other factors. So, at the end of the day, prices from each carrier will differ quite a bit from person to person.

So, if you want to find out which of Cig or Pemco is really the best for you, keep reading to see average premiums for each company broken down by several different rate factors.

Cig or Pemco: Average Car Insurance Rates by State

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But there's more to calculating car insurance rates than just where you call home. Keep reading to learn more.

Which is the Best Company For Young Drivers?

You might already know that teen drivers normally pay a lot more for auto insurance than any group on the road. The reason is that young, inexperienced 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 prices, teen drivers can still find ways to save money. For example, 18-year-old drivers pay an average of $25 less a month by choosing Pemco over Cig.

Even so, with both companies, you'll see your rates drop significantly once you turn 25. For example, average prices for Cig policyholders lower more than $100 and Pemco's premiums reduce around $100 over that time.

Which is the Best Company for Retired Drivers?

When it comes to car insurance, patience and experience pay off, with drivers around retirement age paying some of the cheapest prices you'll ever find.

So, which carrier offers the best rates to retired drivers? Cig gets the slight edge here, with average premiums coming in at about $86 a month compared to Pemco's $91.

Which is the Best Company for Married Drivers?

Did you know that insurance rates are typically less expensive for married drivers than they are for single drivers? That's because policies for married policyholders generally cover multiple cars, which lots of carriers will offer you a discount for.

When it comes to relationship status, Pemco is the clear winner for single policyholders, with prices around $16 per month cheaper than Cig, on average. It's not quite so glaring for married couples, where drivers who use Pemco save about 5% a month.

Cig vs. Pemco: Average Rates by Gender

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

On average, men see premiums around 3% per month higher with Cig, and about 4% with Pemco.

When it comes to the lowest rates for each gender, Pemco comes out on top for both men and women, with average premiums $12 less for men and $12 cheaper for women.

Cig or Pemco: 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 car insurance can be pretty complicated. There are a range of different coverages that account for many different things. Some protect you and your vehicle, while others only provide coverage for other people's property and health if you cause an accident.

The two most common policies that many drivers look at fall into two categories -- liability only (which provides property damage and bodily injury coverage for other drivers if you cause a collision) and full coverage (which includes comprehensive and collision coverages that protect your own vehicle, alongside liability).

If you're looking for state minimum liability limits, Pemco typically offers less expensive prices of $62 compared to Cig's $71. When it comes to full coverage policies with similar limits, Pemco again has the edge, with policies around $15 a month more affordable than Cig, on average.

Is Cig or Pemco Better for Drivers with Spotty Records?

You've probably seen plenty of commercials from auto insurance companies offering great rates 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 at-fault accidents and tickets on your record, but which of these two carriers offers the most affordable prices to drivers with spotty records?

Which Company is Best for Drivers with Speeding Tickets?

Cig policyholders can expect their premiums to go up an average of $24 per month if they get a ticket, while Pemco generally raises rates about $16 a month, on average.

However, Pemco is normally the cheaper option for both drivers who have clean records and those with a recent speeding ticket -- their rates are around 3% more affordable for drivers with clean records and 10% less expensive for those with a ticket.

Which Company is Best for Drivers After an Accident?

After an accident, drivers who have their insurance through Cig can expect to see around an $30 -- or about 25% -- increase in their car insurance premiums. Drivers who use Pemco for their insurance will see a monthly bill around $26 (or 23%) more expensive after reporting an accident to their auto insurance company.

Overall, the more affordable prices come from Pemco, with monthly premiums averaging $111 compared to CIG Insurance's $118.

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 ticket or even a collision. Cig drivers usually see a 44% increase in their car insurance rates after a DUI charge, while Pemco will usually raise prices by about 35%.

If you have a DUI on your record and are looking for more affordable rates, Pemco tends to be the much cheaper option with average prices of $131 monthly compared to $157 from Cig.

How does Credit Score Impact Cig and Pemco Rates?

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

Insurance companies 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, policyholders with good credit will often be rewarded with less expensive rates.

So, which carrier offers the best prices for drivers with good, average, or poor credit?

Which Company is Best for Drivers with Good Credit?

If you have great credit, you'll usually find a better deal with Pemco. Policyholders with "excellent" credit can save just under 20% compared to Cig, and those with "good" scores can also expect to see savings -- around $12 or 13% cheaper every month.

Which Company is Best for Drivers with Bad Credit?

If you have a below average credit score, it can be somewhat of a toss-up as far as which company offers you the best premiums. Drivers with "fair" credit pay about $12 less with Pemco than Cig, but those whose credit is considered "poor" have it flipped -- saving around $6 per month with Cig.

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

How much you drive can have a substantial impact on your monthly auto insurance bill. That's because the more miles you put on your car each year, the more likely you are to get into an accident and cause an insurance claim.

Pemco tends to be the less expensive option for both drivers who put 6,000 miles on their vehicles yearly, as well as those who average twice that figure. Cig's average prices for drivers with 6,000 annual miles come in nearly 10% more expensive than Pemco. Those who drive 12,000 miles annually can expect to pay over 10% more with Cig over Pemco.

Cig vs. Pemco: 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 considerable impact as well. Typically, those who live in urban areas will pay more than drivers in rural areas because there are a lot more vehicles on the roads in those areas.

Pemco tends to offer the lowest premiums for drivers in every type of area, no matter if it's urban, suburban, or rural.

Policyholders in rural ZIP codes see the cheapest rates from both carriers, but Pemco comes out on top with average premiums about $88 per month. Pemco also has more affordable average rates for drivers in urban and suburban ZIP codes -- a $13 and $4 a month respective difference when compared to Cig policyholders in similar areas.

Cig vs. Pemco 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 hard 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 compared all of the different discounts offered by Cig and Pemco so that you can see which carrier offers the most discounts and see which ones you might be able to take advantage of.

Cig knocks Pemco out of the park when it comes to the sheer number of discounts available, offering 13 more discounts than Pemco.

Both companies offer lots of the same discounts -- like anti-theft discounts, distant student discounts, employee discounts, and discounts for being a homeowner -- but Cig also offers ABS discounts, company car discounts, good driving discounts, and more that Pemco does not.

On the flip side, Pemco has a unique discount of its own -- a low mileage discounts.

Final Thoughts: Is Cig or Pemco Best for You?

So, you've seen how different factors can affect your car 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 best company for you, your vehicle, and your wallet?

Pemco might be best for you if....

• You have a clean driving record, free of collisions, tickets, or DUIs.
• You live in an suburban area.
• You and your spouse are buying insurance together.

Cig might be best for you if...

• You're looking for the carrier with the most discounts.
• You are over 65 years old and want to save some money on your auto insurance.

We hope this guide helps you get a better idea of the difference between Cig and Pemco. We also hope we've given you the information you need to make the best decision when it comes to your car 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 insurance -- comparing quotes from a handful of carriers, not just Cig and Pemco. Luckily, Compare.com does all the hard work for you. Just enter your ZIP code below and get multiple free quotes from some of the best auto insurance companies in your area, all in just a few minutes.

Cig vs. Pemco FAQs

Is Cig or Pemco cheaper?

Looking just at the national average rates, Pemco is the cheaper of the two carriers, offering average rates of $107 per month compared to $119 for Cig. That being said, Pemco won't necessarily be the most affordable company for everyone, since there are a bunch of different variables (things like gender, age, driving record, etc.) that play a role in how much you pay.

Who is better, Cig or Pemco?

Sadly, the only answer we can give you is "it depends.". One carrier is not necessarily "better" for everyone -- it all depends on the makeup of your unique insurance profile. For example, Pemco offers less expensive prices for drivers with an at-fault accident on their record, while Cig is more affordable for drivers who have less-than-stellar credit scores.

Why do Cig and Pemco offer me different rates?

Auto insurance companies take a look at many different factors when determining the premiums they charge policyholders. Variables like gender, age, where your home is, your driving record, and sometimes even things like your credit score can all be taken into consideration. Both Cig and Pemco calculate prices using different factors, so each one will most likely offer different rates. The only real way to see which company is the cheapest for you is by comparing personalized quotes from lots of different carriers.

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

The only way to find the car 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 information once and you'll get free quotes from dozens of the best auto insurance carriers in your area. That way, you can guarantee you're getting the best rate. And who knows, the best company for you might not be Cig or Pemco 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.