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

Quick Facts

• Based on national averages for car insurance, Cincinatti Financial offers significantly less expensive premiums than Southern
• Cincinatti Financial tends to be a much more affordable option for policyholders who live in rural neighborhoods
• Southern may help you save more money -- they offer more discounts than Cincinatti Financial

Cincinatti Financial or Southern: 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 large savings. But exactly how much can you save by switching?

You might be considering Cincinatti Financial or Southern for your next policy, but between the two, which one has cheaper rates for insurance?

Looking at the national average rates for both carriers, Cincinatti Financial has average rates that are around 40% a month more affordable than those from Southern.

Even so, that doesn't necessarily mean Cincinatti Financial will be the cheaper option for every single driver. Auto insurance companies use all sorts of complex algorithms to determine premiums, so depending on how clean your driving record is or how good your credit score is (among a whole range of other factors), you could see wildly different prices from the ones above.

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

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

Cincinatti Financial and Southern only compete against each other in two states, with Cincinatti Financial offering less expensive premiums to the average driver in all of them. Alabama has the most noticable difference, where Cincinatti Financial prices are $101 cheaper than car insurance rates at Southern.

But there's more to calculating auto insurance premiums than just the state you live in. Keep reading to find out more.

Which is the Best Company For Young Drivers?

You might already know that teen drivers normally pay a lot more for car insurance than any other group of drivers. Generally, that's because teen drivers are statistically much more likely to cause collisions and other accidents that will result in an insurance claim.

However, 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 over 30% per month compared to those who use Southern.

But with both carriers, you'll see your prices lower significantly by the time you turn 25. Southern 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 lowest rates at $193 a month.

Which is the Best Company for Retired Drivers?

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

When looking at Cincinatti Financial and Southern specifically, which company is best for retired drivers? Cincinatti Financial gets the edge, with rates for drivers 65 and older $132 more affordable than the national average for Southern.

Which is the Best Company for Married Drivers?

Those who are single tend to get offered slightly more expensive insurance premiums than married policyholders. That's usually because married couples tend to own and insure multiple vehicles, which can often earn you a discount.

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

Cincinatti Financial or Southern: Average Rates by Gender

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

On average, men see premiums about 6% a month higher with Cincinatti Financial, but with Southern, the difference is closer to 11% per month.

Looking at the data for each carrier specifically, Cincinatti Financial comes out on top for both men and women. On average, women save about $111 a month and men save around $134 with Cincinatti Financial compared to the average Southern policyholder.

Cincinatti Financial vs. Southern: 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. There are so many different coverages and terms 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 provides property damage and bodily injury coverage for other drivers and passengers if you cause an accident) and full coverage (which includes collision and comprehensive coverages that protect your own car, alongside liability coverage).

Looking specifically at state minimum liability insurance, Cincinatti Financial has the significant edge, with average monthly prices 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 per month to Southern's $452.

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

You've probably seen plenty of commercials from car insurance carriers offering great premiums for good drivers, but that doesn't mean people with less-than-perfect driving records can't save money, too.

Speeding tickets and at-fault collisions will most likely raise your prices, but is Cincinatti Financial or Southern less expensive for drivers with less-than-ideal driving records?

Which Company is Best for Drivers with Speeding Tickets?

Policyholders who use Cincinatti Financial for their insurance can typically expect their monthly bill to go up around 15% after getting a speeding ticket. Southern policyholders can expect a less drastic increase of about 7%.

That being said, Cincinatti Financial is usually the more affordable option for both drivers who have a recent ticket and those with clean records -- their rates are around 44% less expensive for drivers with clean records and 39% cheaper for those with a ticket.

Which Company is Best for Drivers After an Accident?

Cincinatti Financial drivers who get in a collision can expect to see their rates rise by over $90, while those who have insurance through Southern will see around a $75 increase.

At the end of the day, drivers who use Cincinatti Financial end up with the cheaper prices after an accident, with average prices coming in at $214 compared to Southern Insurance Company of Virginia's $293.

Which Company is Best for Drivers with a DUI?

On average, a DUI offense is going to cost you much more than a single collision or speeding ticket when it comes to your auto insurance bill. For example, Southern increases average premiums by nearly $350 a month -- that's more than a 60% increase.

But if you end up with a DUI charge and are looking for more affordable rates, Cincinatti Financial tends to be less expensive for the average driver, with monthly premiums coming in at about $320 to Southern's $548.

How does Credit Score Impact Cincinatti Financial and Southern Rates?

You may not realized it, but your credit score can be used as one of the variables to calculate your monthly car insurance premiums. This isn't true for everyone (for example, Michigan and California are two states that ban the practice entirely), but it does affect several policyholders out there.

Auto insurance companies argue that someone with bad credit is less likely to pay their bills on time, which makes them riskier to insure. Because of that, drivers with bad credit will often be forced to pay more.

Looking specifically at Southern and Cincinatti Financial, which carrier has the cheapest prices for policyholders at different credit levels?

Which Company is Best for Drivers with Good Credit?

If you have a great credit score, Cincinatti Financial will generally reward you the most. For drivers with "excellent" credit scores, Cincinatti Financial comes in nearly 32.88 more affordable. Drivers with "good" credit scores usually save around 34% with Cincinatti Financial compared to average rates from Southern.

Which Company is Best for Drivers with Bad Credit?

Cincinatti Financial typically offers lower premiums than Southern when it comes to drivers with less-than-stellar credit. Drivers with "fair" credit pay about 40% per month less with Cincinatti Financial compared to Southern, and those with "poor" scores typically save an average of around 41% monthly.

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

How much you drive can have a pretty big impact on how much insurance carriers will charge for coverage. That's because the fewer miles you drive, the less likely you are to be in an accident and file 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 prices for Southern, with drivers who put 6,000 miles on their vehicle every year paying about $30 less each month compared to those who drive 12,000 miles yearly. Still, for drivers in both categories, Cincinatti Financial is the cheaper company.

Cincinatti Financial or Southern: Compare Rates for Urban, Suburban, and Rural Drivers

Where you live can play a big role in how much you pay for car insurance. Normally, those who live in urban areas will pay more than policyholders in rural areas since there are a lot more cars on the roads where they live.

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

Those in rural areas can expect to save around $116 with Cincinatti Financial compared to Southern. People who live in suburban areas pay about $82 less with Cincinatti Financial compared to Southern. For drivers in urban ZIP codes, Cincinatti Financial's average rates are around $170 less than Southern Insurance Company of Virginia.

Cincinatti Financial vs. Southern Discounts

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

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.

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

Southern knocks Cincinatti Financial out of the park when it comes to the sheer number of discounts available, offering 20 different discounts to Cincinatti Financial's 20.

Both companies offer a lot of the same discounts -- like discounts for being a defensive driver, discounts for being a good student, and multi-policy discounts -- but Southern also offers discounts for ABS, driver training, experienced operator, and more.

On the other hand, Cincinatti Financial has a few proprietary discounts of their own like COVID-19 relief discount and special large ded discounts.

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

You've seen the role certain factors have on your insurance and the different discounts carriers offer. But, at the end of the day, is Cincinatti Financial or Southern the best fit for you?

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

• Your driving record contains an at-fault accident.
• You're looking for the best prices on liability only coverage.
• You drive fewer than 6,000 miles annually.

Southern might be best for you if...

• You want to save extra money with discounts.

Hopefully, this guide helps you get a good idea of the differences between Cincinatti Financial and Southern and that you can now make a more informed decision when it comes to your car 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 Southern. 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 the top insurance carriers in your area, all in just a few minutes.

Cincinatti Financial vs. Southern FAQs

Is Cincinatti Financial or Southern cheaper?

Cincinatti Financial is the more affordable of the two companies when looking at national average premiums, with policies averaging $200 a month with Cincinatti Financial and $322 for Southern. However, that doesn't mean Cincinatti Financial will be the lowest company for every driver, since there are lots of different variables (things like age, gender, driving record, etc.) that play a role in how much you pay.

Who is better, Cincinatti Financial or Southern?

Unfortunately, the real answer is "it depends.". Neither carrier is "better" for each policyholder -- it all depends on what your unique car insurance profile looks like.

Why do Cincinatti Financial and Southern offer me different rates?

Insurance carriers use quite a few different factors when determining the rates they charge. Variables like your driving record, gender, where you park your vehicle, age, and sometimes even things like your credit score can all be taken into consideration. Both Cincinatti Financial and Southern calculate premiums using different formulas, so it's likely they'll offer different rates. The best way to determine which company is the most affordable for you is by comparing personalized quotes from a bunch of different companies.

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

The only way to find the auto 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, Compare.com makes it easy for you to do just that. Just enter your area information and you'll get quotes from dozens of your local top car insurance companies for free. With those, you can guarantee you're getting the lowest premium. And maybe you'll find that the best company for you isn't Cincinatti Financial or Southern 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.