Co-operative vs. State Farm: Which Company is the Best Fit for You?

Quick Facts

• In general, Co-operative offers slightly less expensive prices than State Farm
• Co-operative offers cheaper average premiums for couples purchasing insurance together
• State Farm tends to be a much more affordable option for drivers with a DUI charge on their record

Co-operative vs. State Farm: Which Company has the Cheapest Car Insurance?

So, you're considering switching your auto insurance. 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 Co-operative or State Farm as potential options, but which company will save you the most?

Looking at the national average rates for both companies, Co-operative is about $15 per month cheaper than State Farm.

However, that doesn't necessarily mean Co-operative will be the less expensive option for every single driver. After all, auto insurance carriers can offer drastically different rates to each driver depending on rating factors like your credit score, where you call home, your age, or even your driving record (among other things), so prices will vary quite a bit from person to person.

Wanting to know if Co-operative or State Farm 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.

Co-operative or State Farm: Average Car Insurance Rates by State

Co-operative and State Farm only compete against each other in Vermont, where State Farm offers the cheaper average rates. For Vermont residents, State Farm offers insurance for $80 per month on average. Co-operative's average prices come out to be over 70% more expensive, at $143 monthly.

There are plenty of other factors that go into your car insurance cost than just the state you live in. Keep reading to learn more.

Which is the Best Company For Young Drivers?

Young drivers -- especially teens -- usually pay a lot for auto insurance compared to older drivers. The reason is that young, inexperienced drivers are statistically much more likely to cause collisions and other accidents that will result in an insurance claim.

But that doesn't mean that teen drivers have to just accept sky-high insurance premiums. Just look at the table above -- where 18-year-old drivers who have Co-operative for their car insurance pay more than $55 less than those who use State Farm.

Even so, both companies will offer you dramatically lower rates once you turn 25. State Farm offers the steepest drop, with 25-year-olds paying less than a third of what 18-year-old drivers are charged. That being said, Co-operative still has the cheapest prices at $133 a 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 most affordable rates you can find.

So, which company offers the best premiums to retired drivers? Co-operative gets the slight edge here, with average rates coming in at around $107 per month compared to State Farm's $111. That being said, the difference is only about 5%, so other factors will likely come into play when determining which carrier has the lowest prices for you.

Which is the Best Company for Married Drivers?

Married drivers tend to get slightly more affordable car insurance premiums than single policyholders. This usually boils down to married policyholders having multiple cars on their policy -- something lots of insurance carriers will reward with discounts.

If you're in the market for auto insurance, Co-operative tends to have the most affordable average rates regardless of if you're married or single, with prices nearly $10 cheaper for married couples and around $20 less expensive for those who are single.

Co-operative vs. State Farm: Average Rates by Gender

Men tend to pay more for car insurance than women. This is because men are more likely to get into collisions and get tickets, which raises the chances of an insurance claim.

On average, women see prices almost $10 a month more affordable with Co-operative, and over $10 cheaper with State Farm when compared to their male counterparts.

Looking at overall affordability, Co-operative comes out on top for both men and women. On average, male drivers save about $16 per month and women save about $13 with Co-operative compared to the average State Farm policyholder.

Co-operative 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 multiple 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 an accident.

The two most common policies that many drivers look at fall into two categories -- liability only (which provides property damage and bodily injury coverage for other drivers and their passengers if you cause a collision) and full coverage (which includes two additional coverages -- comprehensive and collision -- in addition to liability coverage).

In this case, Co-operative offers the cheapest average premiums for state minimum liability limits, while State Farm has the edge for full coverage policies with similar coverage limits. Drivers looking for basic state minimum coverage can save around $35 with Co-operative Insurance Companies, while full coverage comes out to be around $6 less expensive with State Farm.

Is Co-operative or State Farm Better for Drivers with Spotty Records?

It's no big secret that drivers who are accident-free get better deals on their auto insurance. But even if you have a spotty record, you can still find plenty of ways to save some cash on your monthly bill.

You'll probably end up paying more with at-fault accidents and tickets on your record, but which of these two companies offers the lowest prices to drivers with less-than-perfect records?

Which Company is Best for Drivers with Speeding Tickets?

Policyholders with Co-operative car insurance policies don't report seeing their rates increase after getting a ticket, but State Farm policyholders can expect to see their monthly bill increase by about $20.

However, Co-operative is normally the cheaper option for both drivers who have a recent ticket and those with clean records, offering premiums that are 22% and 32% more affordable, respectively, compared to State Farm.

Which Company is Best for Drivers After an Accident?

Co-operative drivers who get in an accident can expect to see their prices increase by $35, while those who have insurance through State Farm will see around a $30 increase.

Overall, the less expensive rates come from Co-operative, with monthly premiums averaging $140 compared to State Farm's $163.

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 insurance bill -- generally a lot more than a collision or speeding ticket. Co-operative drivers usually see a 53% climb in their auto insurance rates after a DUI charge, while State Farm will typically raise prices by about 25%.

How does Credit Score Impact Co-operative and State Farm Rates?

Did you know that many car insurance carriers take your credit score into account 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 will come into play for many policyholders.

The reasoning insurance companies use is that drivers with good credit will be more likely to pay their bills on time; so they'll reward them with cheaper rates, while those with poor credit will usually be forced to pay more.

So, which company offers the most affordable prices for policyholders with good, average, or poor credit?

Which Company is Best for Drivers with Good Credit?

Which Company is Best for Drivers with Bad Credit?

Is Co-operative or State Farm Better for Drivers who Work from Home or Have Short Commutes?

How much you drive can have a considerable impact on your monthly premiums. Typically, the more miles you drive, 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 Co-operative charges. However, there's a small difference in monthly rates for State Farm, with drivers who put 6,000 miles on their vehicle annually paying around $13 less every month compared to those who drive 12,000 miles yearly. Still, Co-operative is the cheaper option for drivers in both categories.

Co-operative vs. State Farm: Compare Rates for Urban, Suburban, and Rural Drivers

Where you live can have a pretty big impact on your monthly auto insurance bill. Generally, drivers who live in heavily-populated urban areas will pay quite a bit more than rural policyholders because there are a lot more cars on the road in those areas, which increases the chances of an accident.

When comparing these two carriers side-by-side, Co-operative normally comes out as the more affordable option for drivers in urban and suburban areas, while State Farm wins in rural areas.

For drivers in urban ZIP codes, Co-operative's average prices are about $137 a month compared to State Farm's $185. People in suburban areas pay around $149 with Co-operative compared to State Farm's $161 monthly. Those in rural areas can expect to pay about $127 a month with State Farm compared to Co-operative's $145.

Co-operative 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 insurance discounts as you can.

But with what seems like a million different discounts out there, it can be hard to find all the ones you can take advantage of or to nail down the carrier that has the most discounts for your unique driver profile.

Below, we've taken a look at all of the different discounts Co-operative and State Farm offer their customers so that you can find the carrier that has the most discounts and, therefore, the biggest savings.

State Farm knocks Co-operative out of the park when it comes to the sheer number of discounts available, offering eight more discounts than Co-operative.

There are a couple discounts both companies offer, but State Farm also offers annual mileage discounts, distant student discounts, drive safe & save discounts, and more that Co-operative does not.

On the flip side, Co-operative has a couple unique discounts of its own -- group discounts, hybrid vehicle discounts, non-smoker discounts, and more.

Final Thoughts: Is Co-operative or State Farm 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. But, when it comes down to it, which carrier is the best company for you and your specific driver profile?

Co-operative might be best for you if....

• You're single and purchasing car insurance by yourself.
• You want basic insurance coverage at the state minimum limits.
• You are over 65 years old and want to save some money on your auto insurance.

State Farm might be best for you if...

• You value the experience that comes with a large national car insurance company.
• You already have a great credit score.
• You're looking for more protection with "full coverage" insurance.

We hope this guide has ben a valuable resource as you compare Co-operative and State Farm. We also hope we've given you the information you need to make the best decision when it comes to your car insurance.

At the end of the day, the best way to make sure you're getting the best deal on your auto insurance policy is to compare quotes from several carriers, not just Co-operative and State Farm. Luckily, Compare.com does all the hard work for you. Just enter your ZIP code below and get multiple free quotes from some of the best car insurance companies in your area, all in just a few minutes.

Co-operative vs. State Farm FAQs

Is Co-operative or State Farm cheaper?

Looking just at the national average rates, Co-operative is the cheaper of the two carriers, offering average rates of $143 per month compared to $158 for State Farm. But Co-operative won't necessarily be the cheapest carrier for everyone, since there are lots of different factors (things like driving record, age, gender, etc.) that play a role in how much you pay.

Who is better, Co-operative or State Farm?

Sadly, the only answer we can give you is "it depends.". No one company is "better" for everyone -- it all depends on what your unique insurance profile looks like.

Why do Co-operative and State Farm offer me different rates?

Auto insurance companies take a look at quite a few different variables when determining the prices they charge drivers. Things like where you call home, gender, where your home is, age, and sometimes even things like your credit score can all be used. Both Co-operative and State Farm calculate premiums using different formulas, so each one will most likely offer different prices. The only real way to see which carrier is the lowest for you is by comparing personalized quotes from a variety of different carriers.

How do I know if Co-operative 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 a handful of companies and finding the one best suited for your individual budget. Luckily, sites like Compare.com make it easy for you to do just that. Just enter your area information and you'll get free quotes from dozens of the best insurance carriers in your area. That way, you can guarantee you're getting the cheapest price. And who knows, the best carrier for you might not be Co-operative 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.