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

Quick Facts

• Based on national averages for auto insurance, Cincinatti Financial offers significantly less expensive prices than Encompass
• Cincinatti Financial offers more affordable premiums for policyholders who drive a short distance to work everyday
• Encompass offers more discounts than Cincinatti Financial

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

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

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

Looking at the national average rates for both companies, Encompass has average rates that are about 55% per month more expensive than those from Cincinatti Financial.

That being said, that doesn't mean Cincinatti Financial will necessarily be more affordable than Encompass for every driver. Insurance carriers use all sorts of complex algorithms to calculate rates, so depending on how old you are or where you live (among a whole bunch of other factors), you could see wildly different premiums from the ones above.

Luckily, we've broken down average prices from both Cincinatti Financial and Encompass by several different rate factors, so read on to find out which company is the best for you.

Cincinatti Financial or Encompass: Average Car Insurance Rates by State

Cincinatti Financial and Encompass compete against each other in four states, with Cincinatti Financial offering cheaper premiums to the average driver in all of them. If you live in Virginia, Encompass is the more affordable of the two companies when looking at the overall average prices. Cincinatti Financial is the cheaper option in Kentucky, Ohio, and Tennessee.

That being said, there's a lot more that goes into your car insurance bill than just where you call home. Continue reading to learn more about how other factors will affect your rates.

Which is the Best Company For Young Drivers?

You might already know that teen drivers generally pay a lot more for auto insurance than any group out there on the road. It's because young, inexperienced drivers are statistically much more likely to get into accidents since they have less experience on the roads.

Even so, that doesn't mean teen drivers can't still save money on their insurance. As you can see above, teens who use Cincinatti Financial save more than $500 a month compared to those who use Encompass.

However, with both carriers, you'll see your rates drop significantly once you turn 25. Encompass offers the steepest reduction, with 25-year-olds paying less than a third of what 18-year-old drivers are charged. That being said, Cincinatti Financial still has the cheapest prices at $193 monthly.

Which is the Best Company for Retired Drivers?

Once you approach retirement age, you'll usually enjoy the most affordable auto insurance premiums you'll ever see. You've been on the road for years, and all that experience pays off when it comes to your monthly rates for car insurance.

But who has the best premiums for retired drivers between Cincinatti Financial and Encompass? Cincinatti Financial gets the edge here, with average prices coming in at around $122 a month compared to Encompass's $335.

Which is the Best Company for Married Drivers?

Married couples tend to get slightly less expensive auto insurance rates than single drivers. That's normally because married drivers 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 those who are single, with premiums about $330 per month cheaper than Encompass, on average. The advantage for married policyholders with Cincinatti Financial is also obvious, where drivers save over 55% a month.

Cincinatti Financial vs. Encompass: Average Rates by Gender

Because men are more likely to get into collisions and get speeding tickets, they have an increased chance of filing a claim with insurance. Therefore, men typically pay more for car insurance than women.

Typically, men see prices nearly $15 per month higher with Cincinatti Financial, and around $23 more with Encompass.

Looking at the data for each carrier specifically, Cincinatti Financial offers the cheapest average rates for both men and women, with average premiums 57% less for men and 57% cheaper for women.

Cincinatti Financial or Encompass: 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.

For most people, insurance isn't the easiest topic to understand. There are so many different limits and terms that it can make it pretty confusing to find the right policy.

But most policies end up falling into two different types of coverage -- liability only (that covers bodily injury and property damage for other drivers and passengers if you cause an accident) and full coverage (which usually refers to having comprehensive and collision coverages in addition to liability coverage).

If you're looking for state minimum limits for liability insurance, Cincinatti Financial typically offers significantly less expensive rates of $106 compared to Encompass's $302. When it comes to full coverage policies with similar limits, Cincinatti Financial again has the edge, with policies about $350 a month more affordable than Encompass, on average.

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

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

You'll probably end up paying more with tickets and accidents on your record, but which of these two companies offers the most affordable prices to drivers with less-than-ideal driving records?

Which Company is Best for Drivers with Speeding Tickets?

Cincinatti Financial policyholders can expect their rates to go up an average of $21 per month if they get a ticket, while Encompass normally raises prices around $61 a month, on average.

That being said, Cincinatti Financial is generally the cheaper option for drivers both with a speeding ticket and with a clean record. Drivers with a clean record can save about $105 per month and drivers with a ticket can save around $145 a month with Cincinatti Financial.

Which Company is Best for Drivers After an Accident?

Cincinatti Financial drivers who get in a collision can expect to see their premiums increase by just under 45%, while those who have insurance through Encompass will see about a 30% increase.

Overall, drivers who use Cincinatti Financial end up with the cheaper prices after an accident, with monthly prices averaging $214 compared to Encompass Insurance's $328.

Which Company is Best for Drivers with a DUI?

On average, a DUI offense is going to cost you much more than a single accident or speeding ticket when it comes to your insurance bill. For example, Encompass increases average rates by over $500 per month -- that's just under a 80% increase.

If you have a DUI on your record and are looking for more affordable premiums, Cincinatti Financial tends to be the much more affordable option with average prices of $320 per month compared to 1020 from Encompass.

How does Credit Score Impact Cincinatti Financial and Encompass Rates?

Did you know that many auto insurance carriers take into account your credit score when calculating premiums? This isn't always the case (for example, Hawaii and California are two states that ban the practice entirely), but it will come into play for several policyholders.

Car 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, drivers with good credit will often be rewarded with less expensive rates.

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

Which Company is Best for Drivers with Good Credit?

If you have a great credit score, you'll usually find a better deal with Cincinatti Financial. Drivers with "excellent" credit can save nearly 60% compared to Encompass, and those with "good" scores can also expect to see savings -- around $224 or 57% more affordable each month.

Which Company is Best for Drivers with Bad Credit?

Cincinatti Financial typically offers lower rates than Encompass when it comes to drivers with bad credit. Drivers with "fair" credit pay about $272 a month less with Cincinatti Financial compared to Encompass, and those with "poor" scores usually save an average of around $366 a month.

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

How much you drive can have a big impact on your monthly auto insurance cost. Typically, the more miles you put on your vehicle each year, the more you can expect to pay for insurance.

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 prices for Encompass, with policyholders who drive the least paying about $2 less every month compared to those who drive 12,000 miles each year. Still, Cincinatti Financial is the less expensive option for drivers in both categories.

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

Where you call home can have a sizable impact on your monthly auto insurance payment. Normally, if you live in a rural area with fewer cars on the road, you'll pay a little less for insurance, while the opposite is true for people in urban areas.

Cincinatti Financial tends to offer the cheapest prices for drivers in every type of area, no matter if it's urban, suburban, or rural.

Policyholders in rural ZIP codes see the lowest premiums from both carriers, but Cincinatti Financial comes out on top with average rates around $182 monthly. Cincinatti Financial also has cheaper average premiums for drivers in urban and suburban ZIP codes -- a 61% and 55% per month respective difference when compared to Encompass policyholders in similar areas.

Cincinatti Financial vs. Encompass Discounts

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

But with what seems like a million different discounts out there, it can be hard to find all the ones you qualify for or to nail down the company that has the most discounts for your unique driver profile.

In the section below, we've compared all of the different discounts offered by Cincinatti Financial and Encompass so that you can easily see which company offers the most discounts and, therefore, the biggest savings.

Encompass knocks Cincinatti Financial out of the park when it comes to the sheer number of discounts available, offering 26 different discounts to Cincinatti Financial's 26.

There are a couple discounts both companies offer, but Encompass also offers ABS discounts, distant student discounts, driver training 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 Cincinatti Financial or Encompass Best for You?

You've seen the role certain variables have on your insurance and the different discounts carriers offer. But, when it comes down to it, is Cincinatti Financial or Encompass the best carrier for you and your specific driver profile?

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

• You're single and purchasing auto insurance by yourself.
• You have a short commute.

Encompass might be best for you if...

• You're planning on moving to another state soon -- Cincinatti Financial only offers policies in five states.
• You care about discounts (Encompass offers the most).

We hope this guide helps you get a better idea of the difference between Cincinatti Financial and Encompass 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 auto insurance policy is to compare quotes from a handful of companies, not just Cincinatti Financial and Encompass. Luckily, Compare.com makes it easy for you to do just that. Simply enter your ZIP codes below and get multiple quotes from some of the best insurance carriers in your area, all for free.

Cincinatti Financial vs. Encompass FAQs

Is Cincinatti Financial or Encompass cheaper?

Looking just at the national average prices, Cincinatti Financial is the less expensive of the two companies, offering average rates of $200 a month compared to $466 for Encompass. However, Cincinatti Financial won't necessarily be the most affordable carrier for every driver, since there are a bunch of different factors that are considered when it comes to your car insurance cost.

Who is better, Cincinatti Financial or Encompass?

Unfortunately, the answer truly is "it depends.". One company is not necessarily "better" for each driver -- it all depends on the makeup of your unique auto insurance profile.

Why do Cincinatti Financial and Encompass offer me different rates?

Insurance carriers take a look at many different variables when determining the premiums they charge drivers. Factors such as gender, age, where you park your car, your driving record, and sometimes even things like your credit score can all come into play. Both Cincinatti Financial and Encompass use different formulas, so each one will most likely offer different prices. The only real way to see which carrier is the lowest for you is by comparing personalized quotes from a range of different companies.

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

The only way to find the car 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, sites like Compare.com do all the hard work for you. Just enter your information once 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 best premium. And who knows, the best carrier for you might not be Cincinatti Financial or Encompass 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.