Country Financial vs. Depositors: Which Company is the Best Fit for You?

Quick Facts

• Looking at the national averages for insurance, Country Financial offers slightly less expensive prices than Depositors
• Country Financial has cheaper rates for drivers who have an at-fault accident on their record
• Depositors offers more affordable premiums for residents of urban areas

Country Financial vs. Depositors: Which Company has the Cheapest Car Insurance?

Are you considering a new insurance policy? 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've maybe even narrowed it down to Country Financial or Depositors for your next policy, but which carrier will save you the most?

Looking at nationwide averages, Country Financial is about $10 per month more affordable than Depositors.

Even so, Country Financial may not be the lowest or best option for every driver out there. After all, car insurance companies can offer drastically different rates to each driver depending on rating factors like your age, where you call home, your credit score, or even your driving record (among other things). So, at the end of the day, rates from every carrier will differ quite a bit from person to person.

Luckily, we've broken down average prices from both Country Financial and Depositors by a variety of different rate factors, so read on to find out which company is the best for you.

Country Financial or Depositors: Average Car Insurance Rates by State

Country Financial and Depositors only compete against each other in one states, with Country Financial offering less expensive rates to the average driver in all of them. Nevada has the most noticable difference, where Country Financial prices are over 20% cheaper than insurance premiums at Depositors.

There are plenty of other factors that go into your auto insurance payment than just where you live. Continue reading to learn more about how other factors will affect your rates.

Which is the Best Company For Young Drivers?

Young drivers -- especially teens -- normally pay a lot for insurance compared to older drivers. It's usually 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.

However, that doesn't mean teen drivers can't still save money on their car insurance. As you can see above, teens who use Country Financial save nearly $55 a month compared to those who use Depositors.

But both carriers will lower prices by the time drivers turn 25. For example, average rates for Country Financial policyholders decrease more than $100 and Depositors's premiums drop almost $200 over that time.

Which is the Best Company for Retired Drivers?

Once you approach retirement age, you'll typically enjoy the most affordable auto insurance rates you can find. You've been on the road for years, and all that experience pays off when it comes to your monthly prices for car insurance.

When looking at Country Financial and Depositors specifically, which carrier is best for retired drivers? Country Financial gets the slight edge, with premiums for drivers 65 and older around 5% more affordable than the national average for Depositors.

Which is the Best Company for Married Drivers?

Married policyholders tend to get slightly less expensive insurance prices than single drivers. That's generally because married couples tend to own and insure several cars, which can often earn you a discount.

If you're in the market for auto insurance, Country Financial tends to have the cheapest average rates regardless of relationship status, with prices about $7 cheaper for married drivers and around $10 more affordable for those who are single.

Country Financial vs. Depositors: Average Rates by Gender

Women typically to pay less for insurance than men. This is because men are more likely to get into collisions and get speeding tickets, which increases the chances of an insurance claim.

With Country Financial, men generally pay about $3 per month more than women, and around $10 with Depositors.

Looking at overall affordability, Country Financial comes out on top for both men and women, with average premiums 8% less for men and 4% cheaper for women.

Country Financial or Depositors: 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.

Car insurance can be a complicated subject for most people. Everyone needs auto insurance, but there are so many different coverages and terms that it can be hard to find the right policy.

The two most common policies end up falling into two different types of coverage -- liability only (which provides bodily injury and property damage coverage for other drivers and their passengers if you cause an accident) and full coverage (which normally refers to having comprehensive and collision coverages alongside what you get with a liability policy).

If you're looking for state minimum limits for liability insurance, Country Financial usually offers slightly cheaper prices of $82 compared to Depositors's $84. When it comes to full coverage policies with similar limits, Country Financial again has the edge, with policies about $15 a month more affordable than Depositors, on average.

Is Country Financial or Depositors Better for Drivers with Spotty Records?

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

Accidents and tickets will most likely raise your rates, but is Country Financial or Depositors less expensive for drivers with less-than-perfect records?

Which Company is Best for Drivers with Speeding Tickets?

Country Financial policyholders can expect their premiums to go up an average of $31 per month if they get a ticket, while Depositors typically raises prices around $24 a month, on average.

If you have a clean record, Country Financial tends to offer the best rates at about 1% more affordable, while Depositors has the edge for drivers with a speeding ticket.

Which Company is Best for Drivers After an Accident?

Both carriers will increase prices pretty significantly if you get into an at-fault collision with Depositors increasing by over $50. Country Financial has a less extreme climb, but you can still expect to pay more than $40 more than you were prior to your first accident.

Overall, drivers who use Country Financial end up with the cheaper prices after an accident, with monthly rates averaging $147 compared to Depositors Insurance Company's $157.

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 auto insurance bill -- generally a lot more than a collision or ticket. Depositors drivers usually see a 46% climb in their car insurance premiums after a DUI charge, while Country Financial will usually increase prices by around 36%.

If you have a DUI on your record and are looking for more affordable rates, Country Financial tends to be the much less expensive option with average premiums of $165 per month compared to $198 from Depositors.

How does Credit Score Impact Country Financial and Depositors Rates?

Did you know that many auto insurance companies take your credit score into account when calculating prices? This isn't always the case (Michigan, for example, has banned the use of credit score as a rating factor) but it will come into play for several drivers.

The reasoning 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 rates, while those with poor credit will normally be forced to pay more.

So, which company offers the best premiums for drivers with poor, average, or good credit?

Which Company is Best for Drivers with Good Credit?

If you have a solid credit score, you'll usually find a better deal with Country Financial. Policyholders with "excellent" credit can save 1% compared to Depositors, and those with "good" scores can also expect to see savings -- about $13 or 10% cheaper each month.

Which Company is Best for Drivers with Bad Credit?

If you have less-than-perfect credit, it can be somewhat of a toss-up as far as which company offers you the best rates. Drivers with "fair" credit pay around $28 less with Country Financial than Depositors, but those whose credit is considered "poor" have it flipped -- saving about $3 per month with Depositors.

Is Country Financial or Depositors Better for Drivers who Work from Home or Have Short Commutes?

Did you know that the amount of time you spend in your car have a sizable impact on your monthly premiums? That's because the fewer miles you put on your vehicle, the less likely you are to get into an accident and cause an insurance claim.

As you can see in the table above, annual mileage doesn't have much of an impact on how much Depositors charges. However, there's a small difference in monthly prices for Country Financial, with drivers who put 6,000 miles on their car annually paying around $2 less every month compared to those who drive 12,000 miles yearly. Still, Country Financial is the more affordable option for drivers in both categories.

Country Financial vs. Depositors: 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 car insurance, but the type of area you live in can have a big impact as well. Typically, drivers who live in heavily-populated urban areas will pay quite a bit more than rural policyholders because there are a lot more vehicles on the roads in those areas.

Looking at these companies side-by-side, Country Financial tends to offer the cheapest option for drivers in rural and suburban areas, while Depositors wins in urban areas.

In urban areas, Depositors Insurance Company's average rates are about $1 less than COUNTRY Financial. Drivers in suburban ZIP codes pay around $8 less with Country Financial compared to Depositors. If you live in a rural area, you can expect to save about $21 with Country Financial compared to Depositors.

Country Financial vs. Depositors Discounts

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

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

Below, we've taken a look at all of the different discounts Country Financial and Depositors offer their customers so that you can easily see which company offers the most discounts and, therefore, the biggest savings.

Depositors blows Country Financial away when it comes to the sheer amount of discounts available, offering 17 different discounts to Country Financial's 10.

A couple of those are overlapping for things like discounts for being a defensive driver, group discounts, and passive restraint discounts. Depositors also offers advance quote discounts, COVID-19 relief discount, distant student discounts, and more that Country Financial does not.

On the flip side, Country Financial has a couple unique discounts of its own -- anti-theft discounts, discounts for getting driver training, occupation discounts, and more.

Final Thoughts: Is Country Financial or Depositors Best for You?

So, you've seen how different variables can affect your car insurance premiums. We've broken down the different discounts each carrier offers, too. But, when it comes down to it, which insurance company is the right fit for you?

Country Financial might be best for you if....

• You have a clean record.
• You're looking for more protection with "full coverage" auto insurance.
• You don't spend much time in your car.

Depositors might be best for you if...

• You have received a ticket within the last few years.
• You're looking for discounts -- Depositors has the most.
• Your neighborhood is in a city.

We hope this guide helps you get a better idea of the difference between Country Financial and Depositors and that you can now make a more informed decision when it comes to your 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 carriers, not just Country Financial and Depositors. Luckily, sites like Compare.com make it easy for you to do just that. Simply enter your ZIP code below and get free quotes from dozens of the top auto insurance companies in your area, all in just a few minutes.

Country Financial vs. Depositors FAQs

Is Country Financial or Depositors cheaper?

Looking just at the national average rates, Country Financial is the cheaper of the two carriers, offering average rates of $138 a month compared to $148 for Depositors. That being said, Country Financial won't necessarily be the lowest carrier for each driver, since there are a bunch of different factors (things like age, gender, driving record, etc.) that play a role in how much you pay.

Who is better, Country Financial or Depositors?

Sadly, the real answer is "it depends.". No single company is "better" for every driver -- it all depends on what your unique insurance profile looks like. For example, Country Financial offers less expensive prices for drivers with an at-fault collision on their record, while Depositors is cheaper for drivers who have less-than-stellar credit scores.

Why do Country Financial and Depositors offer me different rates?

Car insurance companies take a look at a lot of different variables when determining the rates they charge policyholders. Factors like your driving record, where you call home, gender, age, and sometimes even things like your credit score can all be used. Both Country Financial and Depositors calculate prices differently, so each one will most likely offer different premiums. The only real way to see which carrier is the most affordable for you is by comparing personalized quotes from multiple different carriers.

How do I know if Country Financial or Depositors is right for me?

The only way to find the auto 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 makes it easy for you to do just that. Just enter your information once and you'll get free quotes from dozens of the best car insurance carriers in your area. With those, you can guarantee you're getting the best premium. And who knows, the best carrier for you might not be Country Financial or Depositors 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.