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

Quick Facts

• Looking at the national averages for insurance, State Farm offers significantly more affordable rates than Cincinatti Financial
• Cincinatti Financial has cheaper prices for policyholders who don't have any speeding tickets, DUIs, or at-fault accidents on their record
• State Farm offers less expensive average rates for policyholders who live in the suburbs

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

So, you're considering switching your auto insurance. With so many ads from all sorts of companies offering big discounts, you're probably wondering exactly how much you might be able to save.

You might have narrowed your search down to Cincinatti Financial or State Farm as potential options, but between the two, which carrier will offer you more affordable premiums?

Looking at the national average rates for both companies, State Farm is about $42 per month cheaper than Cincinatti Financial.

But that doesn't mean State Farm will necessarily be less expensive than Cincinatti Financial for each driver. Auto insurance carriers vary their prices depending on things like how clean your driving record is, where you live, how good your credit score is, how old you are, and tons of other factors, so premiums could differ drastically from person to person.

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

Cincinatti Financial or State Farm: Average Car Insurance Rates by State

Cincinatti Financial and State Farm compete against each other in five states, with Cincinatti Financial offering more affordable rates to the average driver in all of them. Virginia has the most noticable difference, where State Farm prices are over 70% cheaper than insurance rates at Cincinatti Financial.

There's a lot more that goes into your car insurance cost than just your home state. Keep reading to learn more.

Which is the Best Company For Young Drivers?

You might already know that teen drivers usually pay a lot more for auto insurance than any group on the road. Normally, 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. For example, 18-year-old drivers pay an average of nearly $150 less a month by choosing State Farm over Cincinatti Financial.

That being said, with both companies, you'll see your prices decrease significantly by the time you turn 25. For example, average premiums for Cincinatti Financial policyholders lower more than 60% and State Farm's rates drop almost 60% over that time.

Which is the Best Company for Retired Drivers?

Drivers around retirement age typically enjoy some of the lowest car insurance prices you'll ever find. After all, they've likely been driving for quite some time, which generally decreases their chances of collisions and other infractions that can increase rates.

When looking at Cincinatti Financial and State Farm specifically, which carrier is best for retired drivers? State Farm gets the slight edge, with premiums for drivers 65 and older $11 less expensive than the national average for Cincinatti Financial.

Which is the Best Company for Married Drivers?

Single policyholders tend to get offered slightly more expensive insurance rates than married policyholders. This usually boils down to married drivers having several cars on their policy -- something many auto insurance carriers will reward with discounts.

When it comes to relationship status, State Farm is the clear winner for single drivers, with premiums around $59 per month cheaper than Cincinatti Financial, on average. The advantage is also clear for married couples - State Farm offers the cheapest average prices.

Cincinatti Financial vs. State Farm: Average Rates by Gender

Men are statistically more likely than women to get into an accident or get pulled over for speeding. That means when it comes to car insurance men will normally end up paying a little more.

With Cincinatti Financial, women typically pay about 6% a month less than men, and around 7% less with State Farm when compared to their male counterparts.

When it comes to the most affordable premiums for each gender, State Farm offers the cheapest average prices for both men and women, with average rates 20% less for men and 21% cheaper for women.

Cincinatti Financial or State Farm: 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 can be pretty complicated. There are so many different limits and coverages that it can make it pretty confusing to find the right policy.

Even so, most policies end up falling into two different types of coverage -- liability only (which covers the other party's injuries and property damage if you cause a collision) and full coverage (which generally refers to having comprehensive and collision coverages in addition to what you get with a liability policy).

If you're looking for state minimum limits for liability insurance, State Farm usually offers slightly more affordable premiums of $99 compared to Cincinatti Financial's $106. When it comes to full coverage policies with similar limits, State Farm again has the edge, with policies about $75 per month less expensive than Cincinatti Financial, on average.

Is Cincinatti Financial or State Farm 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.

At-fault accidents and tickets will most likely raise your prices, but is Cincinatti Financial or State Farm more affordable for drivers with spotty records?

Which Company is Best for Drivers with Speeding Tickets?

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

However, Cincinatti Financial has less expensive prices for drivers in both categories -- their rates are around 9% cheaper for drivers with clean records and 8% less expensive 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 premiums increase by over $90, while those who have insurance through State Farm will see about a $30 increase.

Overall, drivers who use State Farm end up with the cheaper prices after an accident, with monthly rates averaging $163 compared to Cincinatti Financial's $214.

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 around 62% after a DUI, while State Farm's average rates rise by over 25%.

How does Credit Score Impact Cincinatti Financial and State Farm Rates?

Did you know that many car insurance carriers take into account your credit score when calculating premiums? This isn't always the case (Massachusetts, for example, has banned the use of credit score as a rating factor) but it does affect a lot of policyholders out there.

Insurance companies 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.

So, which company offers the lowest prices for drivers with poor, average, or good credit?

Which Company is Best for Drivers with Good Credit?

Which Company is Best for Drivers with Bad Credit?

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

How much you drive can have a big impact on how much car insurance carriers will charge for coverage. Usually, the more miles you put on your vehicle each year, the more you can expect to pay for coverage.

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 premiums for State Farm, with drivers who put 6,000 miles on their car annually paying about $13 less every month compared to those who drive 12,000 miles each year. Still, State Farm is the cheaper option for drivers in both categories.

Cincinatti Financial vs. State Farm: 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 auto insurance, but the type of area you live in can have a sizable impact as well. Typically, if you live in an urban area with more cars on the road, you'll pay a little more for insurance, while the opposite is true for people in rural areas.

When comparing these two companies side-by-side, State Farm generally comes out as the lowest option for drivers in all types of areas, no matter if they're urban, suburban, or rural.

Policyholders in rural ZIP codes see the most affordable rates from both carriers, but State Farm comes out on top with average prices around $127 a month. State Farm also has more affordable average rates for drivers in urban and suburban ZIP codes -- a 16% and 18% a month respective difference when compared to Cincinatti Financial policyholders in similar areas.

Cincinatti Financial vs. State Farm Discounts

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

But where do you even start? With so many discounts out there, it may seem hard to find all the of the ones you can take advantage of.

In the table below, we've taken a look at all of the different discounts Cincinatti Financial and State Farm offer their customers so that you can find the company that has the most discounts and, therefore, the biggest savings.

State Farm blows Cincinatti Financial away when it comes to the sheer amount of discounts available, offering 13 more discounts than Cincinatti Financial.

There are a couple discounts both companies offer, but State Farm also offers ABS discounts, annual mileage discounts, distant student discounts, and more that Cincinatti Financial does not.

On the flip side, Cincinatti Financial has a couple unique discounts of its own -- advance quote discounts, COVID-19 relief discount, group discounts, and more.

Final Thoughts: Is Cincinatti Financial or State Farm Best for You?

So, you've seen how different factors can affect your insurance premiums. We've broken down the different discounts each company offers, too. That's all well and good, but at the end of the day, is Cincinatti Financial or State Farm the best one for you and your specific driver profile?

State Farm might be best for you if....

• You already have a great credit score.
• You're looking for more protection with "full coverage" car insurance.
• You have a short drive to work everyday.

Cincinatti Financial might be best for you if...

• You have a clean driving record, free of collisions, tickets, or DUIs.
• You have a speeding ticket on your driving record.

We hope this guide has ben a valuable resource as you compare Cincinatti Financial and State Farm. We also hope we've given you the information you need to make the best 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 car insurance policy is to compare quotes from several carriers, not just Cincinatti Financial and State Farm. Luckily, sites like Compare.com do all the hard work for you. Just enter your ZIP code below and get multiple quotes from some of the best auto insurance companies in your area, all for free.

Cincinatti Financial vs. State Farm FAQs

Is Cincinatti Financial or State Farm cheaper?

Looking just at the national average prices, State Farm is the less expensive of the two carriers, offering average rates of $158 per month compared to $200 for Cincinatti Financial. That being said, State Farm won't necessarily be the lowest carrier for everyone, since there are multiple different variables (things like driving record, age, gender, etc.) that play a role in how much you pay.

Who is better, Cincinatti Financial or State Farm?

Sadly, the only answer we can give you is "it depends.". One company is not necessarily "better" for every driver -- it all depends on the makeup of your unique insurance profile. For example, State Farm offers more affordable premiums for drivers with an at-fault accident on their record, while Cincinatti Financial is cheaper for drivers who have less-than-stellar credit scores.

Why do Cincinatti Financial and State Farm offer me different rates?

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

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

The only way to find the car insurance company that's right for you is by getting quotes from multiple companies and finding the one best suited for your individual budget. Luckily, Compare.com does all the hard work for you. Just enter your information once and you'll get free quotes from dozens of the best insurance carriers in your area. With those, you can guarantee you're getting the best rate. And who knows, the best carrier for you might not be Cincinatti Financial or State Farm 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.