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

Quick Facts

• Looking at the national averages for car insurance, Depositors offers significantly cheaper prices than Kemper
• Depositors offers more affordable average rates for drivers who have received a ticket within the last few years
• Kemper offers more discounts than Depositors Insurance Company

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

So, you're thinking about switching your auto insurance. You've probably seen commercials and billboards from companies offering hefty discounts, but exactly how much money can you save by switching?

You might be considering Depositors or Kemper as your top options, but which carrier will offer you less expensive premiums?

Looking at the national average rates for both companies, Depositors is quite a bit cheaper than Kemper, with rates averaging $148 per month compared to $235 with Kemper.

But Depositors may not be the lowest or best option for each driver out there. Insurance carriers use a ton of complex algorithms to calculate prices, so depending on how clean your driving record is or how good your credit score is (among lots of other factors), you could see wildly different premiums from the ones above.

Luckily, we've broken down average prices from both Depositors and Kemper by several different rate factors, so read on to find out which carrier is the best for you.

Depositors or Kemper: Average Car Insurance Rates by State

Depositors and Kemper only compete against each other in two states, with Depositors offering more affordable rates to the average driver in all of them. Nevada has the most noticable difference, where Depositors prices are over 30% less expensive than car insurance premiums at Kemper.

That being said, there's a lot more that goes into your auto insurance payment than just where you live. Read on to learn 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. The reason is that young, inexperienced drivers are statistically much more likely to get into accidents since they have less experience on the roads.

But still, even with seemingly sky-high rates, teen drivers can still find ways to save money. As you can see above, teens who use Depositors save nearly $200 a month compared to those who use Kemper.

Even so, with both companies, you'll see your prices decrease significantly by the time drivers turn 25. Kemper offers the steepest drop, with 25-year-olds paying less than half what 18-year-old drivers are charged. That being said, Depositors still has the most affordable rates at $132 a month.

Which is the Best Company for Retired Drivers?

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

When looking at Depositors and Kemper specifically, which company is best for retired drivers? Depositors gets the edge, with premiums for drivers 65 and older $68 cheaper than the national average for Kemper.

Which is the Best Company for Married Drivers?

You may not be aware, but insurance prices tend to be more expensive for single policyholders than they are for married policyholders. That's because policies for married couples normally cover more than one car, which quite a few carriers will offer you a discount for.

When it comes to relationship status, Depositors is the clear winner for single drivers, with premiums about $101 per month less expensive than Kemper, on average. The advantage for married drivers with Depositors is also obvious, where drivers save more than 35% a month.

Depositors vs. Kemper: Average Rates by Gender

Men are statistically more likely than women to get into collisions and file an insurance claim. That means when it comes to auto insurance men will typically end up paying a little more.

With Depositors, women generally pay almost $10 per month less than men, and around $20 cheaper with Kemper when compared to their male counterparts.

Looking at overall affordability, Depositors comes out as the most affordable option for both genders, with average prices $92 less for men and $82 cheaper for women.

Depositors or Kemper: 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. Everyone needs car insurance, but there are so many different coverages and terms that it can be hard to find the right policy.

That being said, most policies that many drivers look at fall into two categories -- liability only (which covers the other party's injuries and property damage if you cause an accident) and full coverage (which usually refers to having comprehensive and collision coverages alongside what you get with a liability policy).

If you're looking for state minimum liability limits, Depositors normally offers significantly more affordable rates of $84 compared to Kemper's $139. When it comes to full coverage policies with similar limits, Depositors again has the edge, with policies about $100 a month cheaper than Kemper, on average.

Is Depositors or Kemper 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.

Accidents and tickets will most likely raise your premiums, but is Depositors or Kemper more affordable for drivers with less-than-ideal driving records?

Which Company is Best for Drivers with Speeding Tickets?

Depositors policyholders can expect their rates to go up an average of $24 per month if they get a ticket, while Kemper usually raises premiums around $45 a month, on average.

However, Depositors has less expensive prices for drivers in both categories, offering rates that are $68 and $89 cheaper, respectively, compared to Kemper.

Which Company is Best for Drivers After an Accident?

Depositors drivers who get in a collision can expect to see their premiums climb by over 30%, while those who have insurance through Kemper will see about a 35% increase.

Overall, drivers who use Depositors end up with the cheaper prices after an accident, with monthly prices averaging $157 compared to Kemper's $259.

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 speeding ticket when it comes to your auto insurance bill. For example, Kemper increases average rates by over $100 per month -- that's just under a 40% increase.

How does Credit Score Impact Depositors and Kemper Rates?

In many cases, your credit score can be used as one of the factors to determine your monthly car insurance premiums. This isn't always the case (Michigan, for example, has banned the use of credit score as a rating factor) but it might come into play for a lot of policyholders.

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

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

Which Company is Best for Drivers with Good Credit?

Which Company is Best for Drivers with Bad Credit?

Is Depositors or Kemper 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 insurance cost. 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 rates for Kemper, with policyholders who drive 6,000 miles every year paying around $1 less each month compared to those who drive 12,000 miles yearly. Still, Depositors is the more affordable option for drivers in both categories.

Depositors vs. Kemper: Compare Rates for Urban, Suburban, and Rural Drivers

Where you call home can play a sizable role in how much you pay for car insurance. Typically, policyholders who live in less densely populated rural areas will pay quite a bit less than urban drivers due to the small number of cars that are on the roads in those areas.

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

Policyholders in rural ZIP codes see the most affordable prices from both companies, but Depositors comes out on top with average premiums about $130 monthly. Depositors also has less expensive average prices for drivers in urban and suburban ZIP codes -- a 41% and 38% a month respective difference when compared to Kemper policyholders in similar areas.

Depositors vs. Kemper Discounts

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

The hard 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.

In the section below, we've taken a look at all of the different discounts Depositors and Kemper offer their customers so that you can see which one can save you the most money each month.

Kemper blows Depositors away when it comes to the sheer amount of discounts available, offering 24 different discounts to Depositors's 17.

A couple of those are overlapping for things like discounts for being a defensive driver, EFT discounts, discounts for being a good driver, and discounts for being a homeowner. Kemper also offers AAA discounts, ABS discounts, anti-theft discounts, and more that Depositors does not.

On the flip side, Depositors has a couple unique discounts of its own -- COVID-19 relief discount, employee discounts, intra-agency transfer discounts, and more.

Final Thoughts: Is Depositors or Kemper Best for You?

So, you've seen how different variables can affect your insurance rates. We've shown you all the discounts each company offers, too. But, when it comes down to it, is Depositors or Kemper the right company for you, your vehicle, and your wallet?

Depositors might be best for you if....

• You have a clean record.
• You have above-average credit.
• You live in a rural neighborhood.

Kemper might be best for you if...

• You're thinking about moving to another state -- undefined is only available in.
• You want to save extra money with discounts.

We hope this guide has ben a valuable resource as you compare Depositors and Kemper and that it aids in making a more informed decision about your car insurance.

At the end of the day, the sure-fire way to make sure you're getting the best deal on your auto insurance policy is to compare quotes from a handful of carriers, not just Depositors and Kemper. Luckily, sites like Compare.com do 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.

Depositors vs. Kemper FAQs

Is Depositors or Kemper cheaper?

Looking just at the national average prices, Depositors is the cheaper of the two carriers, offering average rates of $148 per month compared to $235 for Kemper. Even so, Depositors won't necessarily be the cheapest carrier for every driver, since there are multiple different factors (things like driving record, age, gender, etc.) that play a role in how much you pay.

Who is better, Depositors or Kemper?

Unfortunately, the answer truly is "it depends.". No one company is necessarily "better" for each driver -- it all depends on the makeup of your unique car insurance profile.

Why do Depositors and Kemper offer me different rates?

Auto insurance companies take a look at many different variables when calculating the premiums they charge drivers. Factors such as where you park your vehicle, age, gender, where your home is, and sometimes even things like your credit score can all be taken into consideration. Both Depositors and Kemper calculate rates differently, 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 many different carriers.

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

The only way to find the car 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, sites like Compare.com make it easy for you to do just that. Just enter your ZIP code and you'll get free quotes from dozens of the best insurance carriers in your area. With those, you can guarantee you're getting the best price. And who knows, the best carrier for you might not be Depositors or Kemper 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.