Columbia vs. Electric: Which Company is the Best Fit for You?

Quick Facts

• Looking at the national averages for insurance, Columbia offers significantly cheaper premiums than Electric
• Columbia offers more affordable average prices for policyholders who live in rural neighborhoods
• Electric may help you save more money -- they offer more discounts than Columbia Insurance Group

Columbia or Electric: Which Company has the Cheapest Car Insurance?

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

You might have narrowed it down to Columbia or Electric for your next policy, but between the two, which one has less expensive premiums for car insurance?

Looking at nationwide averages, Columbia is quite a bit cheaper than Electric, with prices averaging $150 a month compared to $266 with Electric.

Even so, Columbia may not be the most affordable or best option for every driver out there. Insurance carriers use tons of complex algorithms to determine rates, so depending on how good your credit score is or how clean your driving record is (among an array of other factors), you could see wildly different prices from the ones above.

Luckily, we've broken down average rates from both Columbia and Electric by many different rate factors, so read on to find out which carrier is the best for you.

Columbia vs. Electric: Average Car Insurance Rates by State

Columbia and Electric only compete against each other in one states, with Columbia offering cheaper premiums to the average driver in all of them. Missouri has the most noticable difference, where Columbia rates are $1 more affordable than car insurance premiums at Electric.

But there's more to calculating auto insurance prices than just where you call home. Read on to find out more.

Which is the Best Company For Young Drivers?

You might already know that teen drivers typically pay a lot more for car insurance than any group out there on the road. Normally, that's because teen drivers are statistically much more likely to cause collisions and other accidents that will result in an insurance claim.

But still, even with seemingly sky-high premiums, teen drivers can still find ways to save money. Just look at the table above -- where 18-year-old drivers who have Columbia for their auto insurance pay over 45% less than those who use Electric.

But with both companies, you'll see your prices decrease significantly once you turn 25. For example, average rates for Columbia policyholders drop more than 55% and Electric's premiums reduce almost 55% over that time.

Which is the Best Company for Retired Drivers?

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

When looking at Columbia and Electric specifically, which company is best for retired drivers? Columbia gets the edge here, with average prices coming in at around $109 a month compared to Electric's $178.

Which is the Best Company for Married Drivers?

Did you know that auto insurance rates are typically less expensive for married couples than they are for single policyholders? That's normally because married policyholders tend to own and insure several vehicles, which can often earn you a discount.

For single drivers, the difference in average premiums between these two carriers is significant, with Columbia rates coming in at about half of Electric's. For married drivers, the advantage is clear again - Columbia has the edge when it comes to average premiums.

Columbia or Electric: Average Rates by Gender

Because women are less likely to get into accidents and get tickets, they have a decreased chance of filing a claim with insurance. So, insurance companies will tend to offer women more affordable prices.

Generally, men see premiums around $10 per month higher with Columbia, but with Electric, the difference is closer to $19 a month.

Looking at the data for each carrier specifically, Columbia comes out as the most affordable option for both genders, with average prices 43% less for men and 44% cheaper for women.

Columbia vs. Electric: 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 a bunch of different coverages that account for several different things. Some protect you and your car, while others only provide coverage for other people's property and health if you cause a collision.

The two most common policies that drivers look at fall into two categories -- liability coverage (that covers property damage and bodily injury for other drivers if you cause an accident) and full coverage (which includes two additional coverages -- collision and comprehensive -- alongside what you get with a liability policy).

Looking specifically at state minimum liability insurance, Columbia has the significant edge, with average monthly rates coming in at $68. If you want a full coverage policy with the same state minimum limits, Columbia again has the edge, with policies averaging about $232 per month to Electric's $383.

Is Columbia or Electric Better for Drivers with Spotty Records?

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

It's no secret secret that speeding tickets and accidents lead to higher premiums, but which company -- Columbia or Electric -- has the cheapest prices for drivers with less-than-ideal driving records?

Which Company is Best for Drivers with Speeding Tickets?

Policyholders who use Columbia for their auto insurance can generally expect their monthly bill to go up around 12% after getting a speeding ticket. Electric policyholders can expect a bit more drastic of an increase of about 12%.

That being said, Columbia tends to offer the best prices for drivers both with a ticket and with a clean record -- their rates are around 50% more affordable for drivers with clean records and 50% less expensive for those with a ticket.

Which Company is Best for Drivers After an Accident?

Both carriers will increase rates pretty significantly if you get into an at-fault collision with Columbia increasing by around 27%. Electric has a less extreme raise, but you can still expect to pay more than 10% more than you were prior to your first accident.

At the end of the day, the cheaper premiums come from Columbia, with average rates coming in at $142 compared to Electric Insurance Company's $236.

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 -- usually a lot more than a collision or speeding ticket. For example, Electric increases average prices by nearly $200 a month -- that's over a 45% increase.

But if you end up with a DUI charge and are looking for more affordable rates, Columbia tends to be less expensive for the average driver, with monthly premiums coming in at about $236 to Electric's $385.

How does Credit Score Impact Columbia and Electric Rates?

In many cases, your credit score can be used as one of the variables to calculate your monthly car insurance premiums. Certain states and companies do not allow for credit score to be used as an auto insurance factor, but it might come into play for lots of drivers.

The reasoning auto insurance carriers use is that policyholders with good credit will be more likely to pay their bills on time; so they'll reward them with cheaper prices, while those with poor credit will normally be forced to pay more.

So, which carrier offers the lowest rates for drivers with good, average, or poor credit?

Which Company is Best for Drivers with Good Credit?

If you have a great credit score, Columbia will typically reward you the most. For policyholders with "excellent" credit scores, Columbia comes in nearly 12.66 cheaper. Drivers with "good" credit scores usually save around 34% with Columbia compared to average premiums from Electric.

Which Company is Best for Drivers with Bad Credit?

Columbia typically offers lower prices than Electric when it comes to drivers with less-than-perfect credit. Drivers with "fair" credit pay about 45% per month less with Columbia compared to Electric, and those with "poor" scores generally save an average of around 59% monthly.

Is Columbia or Electric 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 car insurance bill. Usually, those who drive less will end up with more affordable premiums since there's less of a chance of causing an accident and filing an insurance claim.

As you can see in the table above, annual mileage doesn't have much of an impact on how much Columbia charges. However, there's a pretty significant difference in monthly prices for Electric, with policyholders who drive the least paying about $33 less every month compared to those who drive 12,000 miles each year. Still, for drivers in both categories, Columbia is the cheaper company.

Columbia or Electric: Compare Rates for Urban, Suburban, and Rural Drivers

Where you live can have a pretty big impact on your monthly insurance payment. 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.

Columbia tends to offer the lowest prices for drivers in every type of area, no matter if it's urban, suburban, or rural.

In urban areas, Columbia's average rates are around $169 a month compared to Electric's $304. Drivers in suburban ZIP codes pay a monthly rate of about $152 with Columbia compared to $234 with Electric. Those in rural areas can expect to pay around $129 per month with Columbia and $262 with Electric.

Columbia vs. Electric Discounts

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

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

Luckily, we did the hard work for you and looked at all of the different discounts Columbia and Electric offer their customers so that you can find the company that has the most discounts and, therefore, the largest savings.

Electric blows Columbia away when it comes to the sheer amount of discounts available, offering six more discounts than Columbia.

Both companies offer several of the same discounts -- like anti-theft discounts, discounts for getting driver training, and discounts for being a good student -- but Electric also offers discounts for advance quote, COVID-19 relief, electric vehicle, and more.

On the other hand, Columbia has a few proprietary discounts of their own for things like distant student discounts, education discounts, employee discounts, and more.

Final Thoughts: Is Columbia or Electric Best for You?

So, we've broken down the average premiums for many of the factors auto insurance carriers 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, which company is the right carrier for you and your specific profile and needs?

Columbia might be best for you if....

• You have a clean record.
• You already have a great credit score.
• You don't spend much time in your car.

Electric might be best for you if...

• You care about discounts (Electric offers the most).

Hopefully, this guide helps you get a good idea of the differences between Columbia and Electric. 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 best way to make sure you're getting the best deal on your car insurance policy is to compare quotes from a handful of companies, not just Columbia and Electric. Luckily, Compare.com does all the hard work for you. Just enter your ZIP code below and get multiple quotes from some of the best auto insurance carriers in your area, all for free.

Columbia vs. Electric FAQs

Is Columbia or Electric cheaper?

Columbia is the more affordable of the two companies when looking at national average rates, with policies averaging $150 per month with Columbia and $266 for Electric. However, that doesn't mean Columbia will be the most affordable carrier for every driver, since there are lots of different variables (things like gender, age, driving record, etc.) that play a role in how much you pay.

Who is better, Columbia or Electric?

Sadly, the only answer we can give you is "it depends.". No one company is necessarily "better" for each policyholder -- it all boils down to your unique insurance profile.

Why do Columbia and Electric offer me different rates?

Auto insurance carriers use many different factors when determining the premiums they charge. Things such as your driving record, gender, where you call home, age, and sometimes even things like your credit score can all come into play. Both Columbia and Electric calculate prices using different formulas, so it's likely they'll offer different premiums. The best way to determine which carrier is the lowest for you is by comparing personalized quotes from multiple different companies.

How do I know if Columbia or Electric is right for me?

The only way to find the insurance company that's right for you is by getting quotes from several carriers 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 ZIP code 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 best premium. And maybe you'll find that the best carrier for you isn't Columbia or Electric 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.