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

Quick Facts

• In general, Cincinatti Financial offers slightly more affordable prices than Hastings Mutual
• Cincinatti Financial offers more affordable rates for residents of urban areas
• Hastings Mutual has less expensive premiums for policyholders who live in suburban areas

Cincinatti Financial vs. Hastings Mutual: 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 large discounts, but exactly how much money can you save by switching?

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

As you can see, Cincinatti Financial is about $11 per month cheaper than Hastings Mutual when looking at the national average rates for insurance.

But Cincinatti Financial may not be the lowest or best option for each driver out there. Car insurance companies vary their rates depending on things like how old you are, how good your credit score is, where you live, how clean your driving record is, and a variety of other factors, so prices will change quite a bit from person to person.

So, if you want to find out which of Cincinatti Financial or Hastings Mutual is really the best for you, keep reading to see average rates for each carrier broken down by lots of different rate factors.

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

Cincinatti Financial and Hastings Mutual only compete against each other in one states, with Hastings Mutual offering less expensive premiums to the average driver in all of them. Ohio has the most noticable difference, where Hastings Mutual prices are over 50% cheaper than auto insurance rates at Cincinatti Financial.

There are plenty of other factors that go into your insurance payment than just where you call home. Keep reading to find out more.

Which is the Best Company For Young Drivers?

You might already know that teen drivers usually pay a lot more for car insurance than any group out there on the road. Generally, that's because young, inexperienced drivers are statistically much more likely to get into an accident that results in an auto insurance claim, making them much riskier to insure.

But still, even with seemingly sky-high premiums, teen drivers can still find ways to save money. As you can see above, teens who use Hastings Mutual save more than $100 a month compared to those who use Cincinatti Financial.

Even so, both carriers will offer you dramatically lower prices by the time drivers turn 25. Hastings Mutual offers the steepest decrease, with 25-year-olds paying less than half what 18-year-old drivers are charged. That being said, Cincinatti Financial still has the most affordable premiums at $193 per month.

Which is the Best Company for Retired Drivers?

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

But who has the best prices for retired drivers between Cincinatti Financial and Hastings Mutual? Cincinatti Financial gets the edge, with premiums for drivers 65 and older $45 more affordable than the national average for Hastings Mutual.

Which is the Best Company for Married Drivers?

You may not be aware, but insurance prices tend to be less expensive for married drivers than they are for single drivers. That's normally because married couples tend to own and insure multiple cars, which can often earn you a discount.

When it comes to relationship status, the two companies are comparable for single policyholders, with rates only differing around $11 per month, on average. The advantage for married policyholders is more obvious, where drivers who use Cincinatti Financial save about $40 a month.

Cincinatti Financial vs. Hastings Mutual: Average Rates by Gender

Men are statistically more likely than women to get into an accident or get pulled over for speeding, which means they'll typically end up paying more for auto insurance than women.

On average, women see prices around 6% per month less with Cincinatti Financial, while with Hastings Mutual, the difference is closer to 2% a month.

When it comes to the most affordable rates for each gender, Cincinatti Financial offers the cheapest average premiums for both men and women, with average prices $7 less for men and $15 cheaper for women.

Cincinatti Financial or Hastings Mutual: 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 a collision.

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 usually refers to having comprehensive and collision coverages alongside what you get with a liability policy).

In this case, Cincinatti Financial offers the lowest average rates for state minimum liability limits, while Hastings Mutual has the edge for full coverage policies with similar coverage limits. Drivers looking for basic state minimum coverage can save around $35 with Cincinatti Financial, while full coverage comes out to be about $15 cheaper with Hastings Mutual Insurance Company.

Is Cincinatti Financial or Hastings Mutual 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 tickets and at-fault accidents lead to higher premiums, but which company -- Cincinatti Financial or Hastings Mutual -- has the most affordable rates for drivers with spotty records?

Which Company is Best for Drivers with Speeding Tickets?

Cincinatti Financial policyholders can expect their prices to go up an average of $21 per month if they get a ticket, while Hastings Mutual normally raises premiums around $20 a month, on average.

However, Hastings Mutual has more affordable rates for drivers in both categories -- their rates are around 11% cheaper 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 auto insurance through Cincinatti Financial can expect to see about an $92 -- or around 43% -- increase in their insurance prices. Drivers who use Hastings Mutual for their car insurance will see a monthly bill about $17 (or 13%) more expensive after reporting a collision to their insurance carrier.

Overall, drivers who use Hastings Mutual end up with the cheaper prices after an accident, with monthly premiums averaging $126 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 speeding ticket. Hastings Mutual drivers usually see a 77% increase in their auto insurance rates after a DUI charge, while Cincinatti Financial will generally raise premiums by around 62%.

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 a month compared to $478 from Hastings Mutual.

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

You may not have known, but your credit score can be used as one of the factors to calculate your monthly insurance prices. This isn't always the case (for example, Massachusetts and California are two states that ban the practice entirely), but it will come into play for a lot of policyholders.

Car insurance carriers 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 specifically at Hastings Mutual and Cincinatti Financial, which one has the best rates for drivers at different credit levels?

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. Policyholders with "excellent" credit can save over 10% compared to Hastings Mutual, and those with "good" scores can also expect to see savings -- about $21 or 11% 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 around $9 less with Cincinatti Financial than Hastings Mutual, but those whose credit is considered "poor" have it flipped -- saving about $6 per month with Hastings Mutual.

Is Cincinatti Financial or Hastings Mutual 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 auto insurance cost. Normally, the more miles you put on your vehicle, the more you can expect to pay for car insurance.

In this case, neither Cincinatti Financial or Hastings Mutual report increasing rates for drivers with higher annual mileage figures. Cincinatti Financial comes out as the cheapest for drivers at both intervals, whether they put 6,000 or 12,000 miles on their car annually, with average prices of $200 a month for both.

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

Where you live can play a considerable role in how much you pay for insurance. Typically, if you live in a rural area with fewer cars on the road, you'll pay a little less for auto insurance, while the opposite is true for people in urban areas.

When comparing these two companies side-by-side, Hastings Mutual usually comes out as the less expensive option for drivers in rural and suburban areas, while Cincinatti Financial wins in urban areas.

Those in rural areas can expect to pay around $164 monthly with Hastings Mutual and $182 with Cincinatti Financial. People in suburban areas pay a monthly premium of about $177 with Hastings Mutual compared to $197 with Cincinatti Financial. For drivers in urban ZIP codes, Cincinatti Financial's average rates are around $220 per month compared to Hastings Mutual's $291.

Cincinatti Financial vs. Hastings Mutual Discounts

Regardless of 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 possible, and the best way to do that is by utilizing as many insurance discounts as you can.

But where do you even start? With what seems like a million different discounts out there, it may be challenging to find all the ones you're eligible for.

Below, we've broken down all of the different discounts offered by both Cincinatti Financial and Hastings Mutual so that you can find the company that has the most discounts and, therefore, the biggest savings.

Anti-theft discounts, discounts for being a defensive driver, and discounts for being a good student are offered by both carriers.

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

So, you've seen how different variables can affect your auto insurance premiums. We've shown you all the discounts each company offers, too. That's all well and good, but when it comes down to it, is Cincinatti Financial or Hastings Mutual the right carrier for you and your specific profile and needs?

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

• You have a clean driving record, free of collisions, tickets, or DUIs.
• Your driving record contains an at-fault accident.
• Your neighborhood is in a rural area.

Hastings Mutual might be best for you if...

• You already have a great credit score.
• You are over 65 years old and want to save some money on your car insurance.
• You are purchasing your auto insurance with a spouse.

We hope this guide helps you get a better idea of the difference between Cincinatti Financial and Hastings Mutual 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 Cincinatti Financial and Hastings Mutual. Luckily, sites like Compare.com make it easy for you to do just that. Just enter your ZIP code below and get free quotes from dozens of top insurance carriers in your area, all in just a few minutes.

Cincinatti Financial vs. Hastings Mutual FAQs

Is Cincinatti Financial or Hastings Mutual cheaper?

Looking just at the national average prices, Cincinatti Financial is the more affordable of the two companies, offering average rates of $200 a month compared to $211 for Hastings Mutual. That being said, Cincinatti Financial won't necessarily be the lowest carrier for everyone, since there are several different factors (things like age, gender, driving record, etc.) that play a role in how much you pay.

Who is better, Cincinatti Financial or Hastings Mutual?

Sadly, the answer truly is "it depends.". One company is not "better" for everyone -- it all depends on what your unique car insurance profile looks like. For example, Hastings Mutual offers cheaper rates for single drivers, while Cincinatti Financial is more affordable for drivers who have already retired.

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

Auto insurance carriers take a look at lots of different variables when calculating the premiums they charge policyholders. Factors such as gender, where you park your vehicle, age, your driving record, and sometimes even things like your credit score can all be used. Both Cincinatti Financial and Hastings Mutual 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 multiple different companies.

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

The only way to find the car 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, Compare.com does all the hard work for you. Just enter your area information and you'll get free quotes from dozens of the best insurance companies in your area. That way, you can guarantee you're getting the best price. And who knows, the best carrier for you might not be Cincinatti Financial or Hastings Mutual 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.