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

Quick Facts

• In general, Columbia offers significantly more affordable rates than Hallmark Financial
• Columbia has less expensive premiums for policyholders whose driving record contains an at-fault collision
• Hallmark Financial offers more affordable rates for drivers with a DUI

Columbia or Hallmark Financial: Which Company has the Cheapest Car Insurance?

Are you considering a new insurance policy? After all, you've seen ads from all sorts of companies offering big savings. But exactly how much can you save by switching?

You've maybe even narrowed it down to Columbia or Hallmark Financial, but which company has cheaper premiums for auto insurance?

As you can see, Columbia has average rates that are around 30% a month less expensive than those from Hallmark Financial when looking at the national average rates for insurance.

That being said, that doesn't mean Columbia will necessarily be cheaper than Hallmark Financial for each driver. Car insurance carriers use all sorts of complex algorithms to determine prices, so depending on how old you are or where you live (among several other factors), you could see wildly different rates from the ones above.

Luckily, we've broken down average premiums from both Columbia and Hallmark Financial by multiple different rate factors, so read on to find out which company is the best for you.

Columbia vs. Hallmark Financial: Average Car Insurance Rates by State

Columbia and Hallmark Financial only compete against each other in one states, with Columbia offering more affordable prices to the average driver in all of them. Arkansas has the most noticable difference, where Columbia rates are $69 cheaper than auto insurance prices at Hallmark Financial.

That being said, there are plenty of other factors that go into your car insurance cost than just where you call home. Read on to find out more.

Which is the Best Company For Young Drivers?

Teen drivers will almost always have the most expensive auto insurance premiums of any other group of drivers out there on the road. That's typically because teen drivers are statistically much more likely to get into an accident that results in an insurance claim, making them much riskier to insure.

But still, even with seemingly sky-high prices, teen drivers can still find ways to save money. As you can see above, teens who use Columbia save over 30% per month compared to those who use Hallmark Financial.

But both companies will drop premiums once you turn 25. Hallmark Financial offers the steepest reduction, with 25-year-olds paying less than a third of what 18-year-old drivers are charged. That being said, Columbia still has the lowest rates at $145 per month.

Which is the Best Company for Retired Drivers?

Once you approach retirement age, you'll generally enjoy the cheapest 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 car insurance.

But who has the best rates for retired drivers between Columbia and Hallmark Financial? Columbia gets the edge, with prices for drivers 65 and older almost 30% less expensive than the national average for Hallmark Financial.

Which is the Best Company for Married Drivers?

Married policyholders tend to get slightly more affordable auto insurance premiums than single drivers. That's normally because married couples tend to own and insure more than one vehicle, which can often earn you a discount.

For single policyholders, the difference in average rates between these two carriers is significant, with Columbia premiums coming in at a third less than Hallmark Financial's. For married drivers, the advantage is clear again - Columbia has the edge when it comes to average rates.

Columbia or Hallmark Financial: Average Rates by Gender

Men are statistically more likely than women to get speeding tickets and get into accidents. That means when it comes to insurance men will usually end up paying a little more.

On average, women see prices nearly 10% a month less with Columbia, but with Hallmark Financial, the difference is closer to 9% per month.

Looking at the data for each carrier specifically, Columbia comes out on top for both men and women, with average premiums 29% less for men and 28% cheaper for women.

Columbia vs. Hallmark Financial: 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, car insurance isn't the easiest topic to understand. 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 covers the other party's property damage and injuries if you cause a collision) and full coverage (which includes collision and comprehensive coverages that protect your own car, in addition to what you get with a liability policy).

Looking specifically at state minimum liability limits, 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 a month to Hallmark Financial's $306.

Is Columbia or Hallmark Financial Better for Drivers with Spotty Records?

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

It's no secret secret that speeding tickets and collisions lead to higher premiums, but which company -- Columbia or Hallmark Financial -- has the most affordable prices for drivers with less-than-perfect 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. Hallmark Financial policyholders can expect a less drastic increase of about 7%.

However, Columbia has less expensive rates for drivers in both categories, offering prices that are $90 and $90 cheaper, respectively, compared to Hallmark Financial.

Which Company is Best for Drivers After an Accident?

Columbia drivers who get in an accident can expect to see their rates climb by just under $40, while those who have insurance through Hallmark Financial will see around a $35 increase.

At the end of the day, drivers who use Columbia end up with the cheaper prices after an accident, with average premiums coming in at $142 compared to Hallmark Financial's $229.

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 ticket. On average, Columbia will climb your rates about 56% after a DUI, while Hallmark Financial's average prices rise by nearly 10%.

But if you end up with a DUI charge and are looking for more affordable premiums, Hallmark Financial tends to be more affordable for the average driver, with monthly premiums coming in at around $212 to Columbia's $236.

How does Credit Score Impact Columbia and Hallmark Financial Rates?

Did you know many auto insurance carriers take into account your credit score when determining prices? This isn't true for everyone (Michigan, for example, has banned the use of credit score as a car insurance factor) but it will come into play for quite a few policyholders.

Car insurance companies argue that someone with good credit is more likely to pay their bills on time, which makes them less risky to insure. Because of that, drivers with good credit will often be rewarded with cheaper rates.

So, which carrier offers the best premiums for policyholders with good, average, or poor credit?

Which Company is Best for Drivers with Good Credit?

If you have solid credit, Columbia will typically reward you the most. For drivers with "excellent" credit scores, Columbia comes in just under 23.33 more affordable. Drivers with "good" credit scores normally save about 28% with Columbia compared to average rates from Hallmark Financial.

Which Company is Best for Drivers with Bad Credit?

Columbia typically offers lower premiums than Hallmark Financial when it comes to drivers with a below average credit score. Drivers with "fair" credit pay around 30% per month less with Columbia compared to Hallmark Financial, and those with "poor" scores generally save an average of about 33% a month.

Is Columbia or Hallmark Financial Better for Drivers who Work from Home or Have Short Commutes?

How much you drive can have a pretty big impact on your monthly insurance bill. Normally, those who drive fewer miles will end up with less expensive prices since there's less of a chance of causing an accident and filing an insurance claim.

In this case, neither Columbia or Hallmark Financial report increasing rates for drivers with higher annual mileage figures. Columbia comes out as the lowest for drivers at both intervals, whether they put 6,000 or 12,000 miles on their vehicle annually, with average premiums of $150 a month for both.

Columbia or Hallmark Financial: 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 large impact as well. Typically, policyholders who live in less densely populated rural areas will pay quite a bit less than urban drivers because of the small number of cars that are on the roads where they live.

Columbia boasts the most affordable average prices for drivers in all areas, regardless of if they're urban, suburban, or rural.

For policyholders in urban ZIP codes, Columbia Insurance Group's average premiums are around $56 less than Hallmark Financial. People who live in suburban areas pay about $77 less with Columbia compared to Hallmark Financial. Those in rural areas can expect to save around $49 with Columbia compared to Hallmark Financial.

Columbia vs. Hallmark Financial Discounts

No matter why you might be in the market for a new car insurance policy, you're always going to want to save as much money as you can, and the best way to do that is by taking advantage of as many insurance discounts as possible.

The challenging part is finding all of the discounts you qualify for, since it can feel sometimes like every carrier has different discounts and each one is advertised differently.

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

Columbia knocks Hallmark Financial out of the park when it comes to the sheer number of discounts available, offering seven more discounts than Hallmark Financial.

There are a couple discounts both carriers offer, but Columbia also offers discounts for ABS, anti-theft, distant student, and more.

On the other hand, Hallmark Financial has a proprietary discount of their own -- a foreign license discounts.

Final Thoughts: Is Columbia or Hallmark Financial Best for You?

So, you've seen how different variables can affect your auto insurance prices. We've broken down the different discounts each company offers, too. But, when it comes down to it, which insurance carrier is the best carrier for you, your vehicle, and your wallet?

Columbia might be best for you if....

• You want to save money on your car insurance after a collision.
• You care about discounts (Columbia offers the most).
• You've started working from home and don't have much of a commute.

Hallmark Financial might be best for you if...

• Your driving record includes a DUI charge.

Hopefully, this guide helps you get a good idea of the differences between Columbia and Hallmark Financial. 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 several companies, not just Columbia and Hallmark Financial. Luckily, Compare.com makes it easy for you to do just that. Simply 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.

Columbia vs. Hallmark Financial FAQs

Is Columbia or Hallmark Financial cheaper?

Columbia is the cheaper of the two companies when looking at national average premiums, with policies averaging $150 per month with Columbia and $211 for Hallmark Financial. Even so, that doesn't mean Columbia will be the lowest company for every driver, since there are a range of different factors that are considered when it comes to your auto insurance payment.

Who is better, Columbia or Hallmark Financial?

Unfortunately, the answer truly is "it depends.". No single carrier is necessarily "better" for each policyholder -- it all depends on what your unique car insurance profile looks like. For example, Columbia is more affordable for drivers with excellent credit, while Hallmark Financial offers less expensive rates for drivers with a recent DUI.

Why do Columbia and Hallmark Financial offer me different rates?

Insurance carriers use lots of different variables when calculating the prices they charge. Things such as 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 Columbia and Hallmark Financial calculate premiums differently, 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 many different companies.

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

The only way to find the auto insurance carrier that's right for you is by getting quotes from a handful of carriers 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 information once and you'll get quotes from dozens of your local top insurance companies for free. That way, you can guarantee you're getting the best rate. And maybe you'll find that the best company for you isn't Columbia or Hallmark Financial 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.