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

Quick Facts

• In general, Cincinatti Financial offers significantly more affordable prices than Mercury
• Cincinatti Financial has less expensive rates for drivers who have below-average credit
• Mercury may help you save more money -- they offer more discounts than Cincinatti Financial

Cincinatti Financial or Mercury: Which Company has the Cheapest Car Insurance?

So, you're considering switching to a new insurance policy. After all, you've seen ads from all sorts of companies offering huge savings. But exactly how much can you save by switching?

You might have narrowed your search down to Cincinatti Financial or Mercury, but which one will offer you cheaper prices?

Looking at nationwide averages, Cincinatti Financial has average rates that are around 30% a month less expensive than those from Mercury.

That being said, Cincinatti Financial may not be the most affordable or best option for every single driver out there. After all, car insurance carriers can offer drastically different rates to every driver depending on rating factors like your age, your driving record, where you call home, or even your credit score (among other things). So, at the end of the day, rates from each company will differ quite a bit from person to person.

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

Cincinatti Financial vs. Mercury: Average Car Insurance Rates by State

Cincinatti Financial and Mercury only compete against each other in one states, with Mercury offering more affordable prices to the average driver in all of them. Virginia has the most noticable difference, where Mercury premiums are $161 cheaper than auto insurance rates at Cincinatti Financial.

That being said, there are plenty of other factors that go into your car insurance cost than just where you live. Continue reading to learn more about how other variables will affect your rates.

Which is the Best Company For Young Drivers?

Teen drivers will almost always have the most expensive insurance premiums of any group on the road. That's usually because teen drivers are statistically much more likely to cause collisions and other accidents that will result in an insurance claim.

Even so, that doesn't mean that teen drivers have to just accept sky-high car insurance rates. For example, 18-year-old drivers pay an average of almost 30% less per month by choosing Cincinatti Financial over Mercury.

However, with both companies, you'll see your prices decrease significantly by the time drivers turn 25. For example, average rates for Cincinatti Financial policyholders drop about $300 and Mercury's premiums lower around $500 over that time.

Which is the Best Company for Retired Drivers?

Drivers around retirement age typically enjoy some of the lowest auto insurance prices out there. After all, they've likely been driving for quite some time, which normally lowers their chances of collisions and other infractions that can raise premiums.

When looking at Cincinatti Financial and Mercury specifically, which company is best for retired drivers? Cincinatti Financial gets the edge, with prices for drivers 65 and older nearly 45% more affordable than the national average for Mercury.

Which is the Best Company for Married Drivers?

You may not be aware, but insurance rates tend to be cheaper for married drivers than they are for single drivers. This usually boils down to married couples having multiple vehicles on their policy -- something a lot of car insurance carriers will reward with discounts.

For those who are single, the difference in average prices between these two companies is significant, with Cincinatti Financial premiums coming in at a third less than Mercury's. The advantage is also clear for married policyholders - Cincinatti Financial offers the cheapest average rates.

Cincinatti Financial or Mercury: Average Rates by Gender

Men are statistically more likely than women to get into accidents and get speeding tickets, which means they'll generally end up paying more for auto insurance than women.

With Cincinatti Financial, women typically pay almost $15 a month less than men, and about $15 cheaper with Mercury when compared to their male counterparts.

Looking at the data for each carrier specifically, Cincinatti Financial comes out on top for both men and women. On average, male drivers save about $96 per month and women save around $95 with Cincinatti Financial compared to the average Mercury policyholder.

Cincinatti Financial vs. Mercury: 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 a complicated subject for most people. There are so many different coverages and limits that it can make it pretty confusing to find the right policy for you.

The two most common policies that drivers look at fall into two categories -- liability coverage (which covers the other party's injuries and property damage if you cause a collision) and full coverage (which includes collision and comprehensive coverages that protect your own car, alongside liability coverage).

Looking specifically at state minimum limits for liability insurance, Cincinatti Financial has the significant edge, with average monthly premiums coming in at $106. If you want a full coverage policy with the same state minimum limits, Cincinatti Financial again has the edge, with policies averaging about $293 a month to Mercury's $406.

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

It's no secret -- drivers with good records end up getting the best deals on their auto insurance. But that's not to say you can't save money if you don't have the best driving record, either.

Accidents and speeding tickets will most likely raise your rates, but is Cincinatti Financial or Mercury less expensive for drivers with less-than-perfect records?

Which Company is Best for Drivers with Speeding Tickets?

Policyholders who use Cincinatti Financial for their insurance can generally expect their monthly bill to go up around 15% after getting a speeding ticket. Mercury policyholders can expect a bit more drastic of an increase of about 19%.

But Cincinatti Financial tends to offer the best prices for both drivers who have a recent ticket and those with clean records -- their rates are around 49% cheaper for drivers with clean records and 51% more affordable for those with a ticket.

Which Company is Best for Drivers After an Accident?

Cincinatti Financial drivers who get in an accident can expect to see their prices climb by just under 45%, while those who have insurance through Mercury will see around a 30% increase.

At the end of the day, the less expensive rates come from Cincinatti Financial, with average premiums coming in at $214 compared to Mercury Insurance's $346.

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 a collision. On average, Cincinatti Financial will raise your prices about 62% after a DUI, while Mercury's average rates rise by more than 20%.

But if you end up with a DUI charge and are looking for more affordable premiums, Mercury tends to be cheaper for the average driver, with monthly premiums coming in at around $303 to Cincinatti Financial's $320.

How does Credit Score Impact Cincinatti Financial and Mercury Rates?

In many cases, your credit score can come into play when carriers determine your monthly bill. Certain states and companies do not allow for credit score to be used as a car insurance factor, but it does affect quite a few policyholders out there.

Car insurance carriers argue that those with good credit scores are more likely to pay their bills on time every month, which decreases the risk involved on their end, while the opposite is true for those with bad credit.

Looking at Cincinatti Financial and Mercury specifically, which carrier has the best prices for drivers at different credit levels?

Which Company is Best for Drivers with Good Credit?

If you have great credit, Cincinatti Financial will normally reward you the most. For policyholders with "excellent" credit scores, Cincinatti Financial comes in nearly 34.08 more affordable. Drivers with "good" credit scores usually save about 35% with Cincinatti Financial compared to average premiums from Mercury.

Which Company is Best for Drivers with Bad Credit?

Cincinatti Financial typically offers lower prices than Mercury when it comes to drivers with a below average credit score. Drivers with "fair" credit pay around 34% per month less with Cincinatti Financial compared to Mercury, and those with "poor" scores typically save an average of about 31% per month.

Is Cincinatti Financial or Mercury 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 how much insurance companies will charge for coverage. Generally, those who drive less will end up with less expensive rates since there's less of a chance of causing an accident and filing an insurance claim.

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

Cincinatti Financial or Mercury: 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 big impact as well. Normally, those who live in urban areas will pay more than drivers in rural areas due to the number of cars that are on the roads where they live.

Cincinatti Financial boasts the most affordable average premiums for drivers in every type of area, no matter if it's urban, suburban, or rural.

For policyholders in urban ZIP codes, Cincinatti Financial's average rates are around $181 less than Mercury Insurance. People who live in suburban areas pay about $78 less with Cincinatti Financial compared to Mercury. Those in rural areas can expect to save around $27 with Cincinatti Financial compared to Mercury.

Cincinatti Financial vs. Mercury Discounts

No matter why you might be in the market for a new auto insurance policy, you're always going to want to save as much money as you can, and the best way to do that is by taking advantage of as many insurance discounts as possible.

The hard part is finding all of the discounts you can take advantage of, since it can feel sometimes like every carrier has different discounts and each one is advertised differently.

Luckily, we did the hard work for you and looked at all of the different discounts Cincinatti Financial and Mercury offer their customers so that you can see which company offers the most discounts and see which ones you might be able to take advantage of.

Mercury knocks Cincinatti Financial out of the park when it comes to the sheer number of discounts available, offering 27 different discounts to Cincinatti Financial's 27.

There are a couple discounts both carriers offer, but Mercury also offers discounts for ABS, continuous insurance, distant student, and more.

On the other hand, Cincinatti Financial has a proprietary discount of their own -- a special large ded discounts.

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

So, we've broken down the average premiums for many of the factors auto insurance companies look at, and we've shown you all the discounts each company offers. But, when it comes down to it, which carrier is the best carrier for you, your vehicle, and your wallet?

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

• You will be the only person on the car insurance policy.
• Your neighborhood is in the suburbs.
• You are purchasing your auto insurance with a spouse.

Mercury might be best for you if...

• You value the experience that comes with a large national car insurance company.
• Your driving record includes a DUI charge.
• You're looking for discounts -- Mercury has the most.

Hopefully, this guide has ben a valuable resource as you compare Cincinatti Financial and Mercury and that it aids in making a more informed decision about your 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 car insurance -- comparing quotes from multiple carriers, not just Cincinatti Financial and Mercury. Luckily, sites like Compare.com do all the hard work for you. Just enter your ZIP code below and get free quotes from dozens of the top auto insurance companies in your area, all in just a few minutes.

Cincinatti Financial vs. Mercury FAQs

Is Cincinatti Financial or Mercury cheaper?

Cincinatti Financial is the more affordable of the two carriers when looking at national average rates, with policies averaging $200 per month with Cincinatti Financial and $295 for Mercury. That being said, that doesn't mean Cincinatti Financial will be the cheapest carrier for each policyholder, since there are a bunch of different variables that are considered when it comes to your insurance payment.

Who is better, Cincinatti Financial or Mercury?

Sadly, the answer truly is "it depends.". One company is not necessarily "better" for every policyholder -- it all boils down to your unique auto insurance profile. For example, Cincinatti Financial is less expensive for drivers with excellent credit, while Mercury offers cheaper prices for drivers with a recent DUI.

Why do Cincinatti Financial and Mercury offer me different rates?

Insurance companies use lots of different factors when determining the rates they charge. Variables such as your driving record, age, gender, where you call home, and sometimes even things like your credit score can all be taken into consideration. Both Cincinatti Financial and Mercury calculate premiums differently, so it's likely they'll offer different prices. The best way to determine which carrier is the lowest for you is by comparing personalized quotes from lots of different carriers.

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

The only way to find the car insurance company that's right for you is by getting quotes from several companies and finding the one best suited for your individual budget. Luckily, Compare.com makes it easy for you to do just that. Just enter your information once and you'll get quotes from dozens of your local top insurance carriers for free. With those, you can guarantee you're getting the best premium. And maybe you'll find that the best carrier for you isn't Cincinatti Financial or Mercury at all, but another you hadn't even thought of!

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.