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

Quick Facts

• Looking at the national averages for insurance, Travelers offers cheaper prices than Cincinatti Financial
• Cincinatti Financial offers less expensive average rates for drivers who have received a ticket within the last few years
• Travelers tends to be a much more affordable option for policyholders who live in the suburbs

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

Are you in the market for a new insurance policy? With so many ads from all sorts of companies offering hefty discounts, you're probably wondering exactly how much you might be able to save.

You've maybe even narrowed your search down to Cincinatti Financial or Travelers for your next policy, but which carrier has less expensive prices for auto insurance?

As you can see, Cincinatti Financial has average rates that are about 17% per month more expensive than those from Travelers when looking at the national average rates for car insurance.

However, that doesn't necessarily mean Travelers will be the cheaper option for every driver. After all, insurance companies can offer drastically different rates to each driver depending on rating factors like your driving record, where you call home, your credit score, or even your age (among other things). So, at the end of the day, premiums from every company will differ quite a bit from person to person.

Wanting to know if Cincinatti Financial or Travelers 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 or Travelers: Average Car Insurance Rates by State

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

There are plenty of other factors that go into your auto insurance cost 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 typically pay a lot more for insurance than any group out there on the road. That's because young, inexperienced drivers are statistically much more likely to get into an accident that results in an insurance claim, making them much riskier to insure.

Even so, that doesn't mean teen drivers can't still save money on their car insurance. As you can see above, teens who use Travelers save nearly $150 a month compared to those who use Cincinatti Financial.

But with both carriers, you'll see your premiums lower significantly by the time you turn 25. Travelers offers the steepest reduction, with 25-year-olds paying less than a third of what 18-year-old drivers are charged. Cincinatti Financial's average prices drop more than 60% during that same period.

Which is the Best Company for Retired Drivers?

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

But who has the best rates for retired drivers between Cincinatti Financial and Travelers? Cincinatti Financial gets the slight edge here, with average premiums coming in at around $122 a month compared to Travelers's $132.

Which is the Best Company for Married Drivers?

You may not be aware, but auto insurance rates tend to be more affordable for married couples than they are for those who are single. This usually boils down to married drivers having more than one car on their policy -- something several insurance companies will reward with discounts.

When it comes to relationship status, Travelers is the clear winner for single policyholders, with premiums about $52 per month cheaper than Cincinatti Financial, on average. It's not quite so glaring for married policyholders, where drivers who use Travelers save around 5% a month.

Cincinatti Financial vs. Travelers: Average Rates by Gender

Did you know men tend to pay more for car insurance than women? This is because men are statistically more likely than women to get pulled over for speeding or get into an accident, which leads to increased risk for insurers and, therefore, higher prices.

On average, women see premiums about 6% per month less with Cincinatti Financial, and around 6% less with Travelers.

Looking at the data for each company specifically, Travelers comes out on top for both men and women. On average, male drivers save about $34 a month and women save about $32 with Travelers compared to the average Cincinatti Financial policyholder.

Cincinatti Financial or Travelers: 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.

Auto insurance isn't the easiest topic to understand. There are so many different terms and coverages that it can make it pretty confusing to find the right policy.

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

In this case, Cincinatti Financial offers the most affordable average rates for state minimum liability insurance, while Travelers has the edge for full coverage policies with similar coverage limits. Drivers looking for basic state minimum coverage can save around $2 with Cincinatti Financial, while full coverage comes out to be around $70 more affordable with Travelers.

Is Cincinatti Financial or Travelers 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 collisions lead to higher prices, but which carrier -- Cincinatti Financial or Travelers -- has the lowest rates for drivers with less-than-ideal driving records?

Which Company is Best for Drivers with Speeding Tickets?

Cincinatti Financial policyholders can expect their premiums to go up an average of $21 per month if they get a ticket, while Travelers usually raises prices about $32 a month, on average.

That being said, Cincinatti Financial tends to offer the best prices for both drivers who have clean records and those with a recent speeding ticket, offering rates that are 5% and 11% cheaper, respectively, compared to Travelers.

Which Company is Best for Drivers After an Accident?

Cincinatti Financial policyholders who get in an accident can expect to see their prices climb by over $90, while those who have insurance through Travelers will see around a $45 increase.

Overall, drivers who use Travelers end up with the cheaper prices after an accident, with monthly premiums averaging $173 compared to Cincinatti Financial's $214.

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 ticket when it comes to your auto insurance bill. For example, Cincinatti Financial increases average prices by just under $200 per month -- that's over a 60% increase.

If you have a DUI on your record and are looking for more affordable rates, Travelers tends to be the much less expensive option with average premiums of $205 per month compared to $320 from Cincinatti Financial.

How does Credit Score Impact Cincinatti Financial and Travelers Rates?

Did you know that many car insurance carriers take your credit score into account when calculating prices? Certain states and companies do not allow for credit score to be used as a rating factor, but it will come into play for quite a few drivers.

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

So, which company offers the most affordable premiums for policyholders with poor, average, or good 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 Travelers. Drivers with "excellent" credit can save just under 20% compared to Cincinatti Financial, and those with "good" scores can also expect to see savings -- about $30 or 17% more affordable every month.

Which Company is Best for Drivers with Bad Credit?

Travelers typically offers lower rates than Cincinatti Financial when it comes to drivers with less-than-stellar credit. Drivers with "fair" credit pay around $25 a month less with Travelers compared to Cincinatti Financial, and those with "poor" scores typically save an average of about $50 monthly.

Is Cincinatti Financial or Travelers 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 premiums. Normally, the more miles you drive, the more you can expect to pay for car 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 rates for Travelers, with policyholders who drive the least paying around $5 less each month compared to those who drive 12,000 miles every year. Still, Travelers is the less expensive option for drivers in both categories.

Cincinatti Financial vs. Travelers: 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 insurance, but the type of area you live in can have a considerable impact as well. Usually, those who live in rural areas will pay less than policyholders in urban areas because there are a lot fewer vehicles on the roads in those areas.

Travelers boasts the most affordable average prices for drivers in all types of areas, no matter if they're urban, suburban, or rural.

Drivers in rural ZIP codes see the lowest rates from both companies, but Travelers comes out on top with average prices about $136 a month. Travelers also has cheaper average premiums for policyholders in urban and suburban ZIP codes -- a 7% and 19% per month respective difference when compared to Cincinatti Financial drivers in similar areas.

Cincinatti Financial vs. Travelers Discounts

Regardless of 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 possible. That's where insurance discounts comes into play.

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

In the section below, we've broken down all of the different discounts offered by both Cincinatti Financial and Travelers so that you can find the one that has the most discounts and, therefore, the biggest savings.

Travelers knocks Cincinatti Financial out of the park when it comes to the sheer number of discounts available, offering 15 more discounts than Cincinatti Financial.

There are a couple discounts both carriers offer, but Travelers also offers ABS discounts, alternative fuel discounts, continuous insurance discounts, and more that Cincinatti Financial does not.

On the flip side, Cincinatti Financial has a couple unique discounts of its own -- discounts for being a homeowner and special large ded discounts.

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

So, we've broken down the average rates for many of the variables car insurance companies look at, and we've shown you all the discounts each carrier offers. That's all well and good, but at the end of the day, is Cincinatti Financial or Travelers the right fit for you?

Travelers might be best for you if....

• You're single and purchasing insurance by yourself.
• Your home is located in the suburbs.
• You're buying auto insurance for a teen and looking for a wallet-friendly option.

Cincinatti Financial might be best for you if...

• You have a clean driving record, free of accidents, tickets, or DUIs.
• You have a speeding ticket on your driving record.
• You are over 65 years old and want to save some money on your car insurance.

We hope this guide has ben a valuable resource as you compare Cincinatti Financial and Travelers. We also hope we've given you the information you need to make the best decision when it comes to your auto 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 Travelers. Luckily, Compare.com does all the hard work for you. Simply enter your ZIP codes below and get multiple quotes from some of the best insurance companies in your area, all for free.

Cincinatti Financial vs. Travelers FAQs

Is Cincinatti Financial or Travelers cheaper?

Looking just at the national average premiums, Travelers is the less expensive of the two carriers, offering average rates of $167 a month compared to $200 for Cincinatti Financial. But Travelers won't necessarily be the cheapest company for each driver, since there are a bunch of different factors that are considered when it comes to your auto insurance payment.

Who is better, Cincinatti Financial or Travelers?

Sadly, the answer truly is "it depends.". One carrier is not "better" for everyone -- it all boils down to your unique insurance profile. For example, Travelers offers more affordable rates for single policyholders, while Cincinatti Financial is cheaper for drivers who have already retired.

Why do Cincinatti Financial and Travelers offer me different rates?

Car insurance companies take a look at lots of different variables when determining the prices they charge drivers. Things like where you live, gender, where you call home, age, and sometimes even things like your credit score can all be taken into consideration. Both Cincinatti Financial and Travelers calculate premiums using different formulas, so each one will most likely offer different prices. The only real way to see which company is the lowest for you is by comparing personalized quotes from lots of different carriers.

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

The only way to find the insurance carrier that's right for you is by getting quotes from a handful of companies 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 area information and you'll get free quotes from dozens of the best car insurance carriers in your area. That way, you can guarantee you're getting the cheapest premium. And who knows, the best company for you might not be Cincinatti Financial or Travelers 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.