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

Quick Facts

• In general, Depositors offers significantly less expensive premiums than Le Mars
• Depositors offers more affordable rates for single people who will be the only person on the car insurance policy
• Depositors has more affordable prices for policyholders who live in rural neighborhoods

Depositors or Le Mars: Which Company has the Cheapest Car Insurance?

Are you in the market for a new insurance policy? You've probably seen commercials and billboards from companies offering big savings, but exactly how much money can you save by switching?

You've maybe even narrowed it down to Depositors or Le Mars as your top options, but which carrier will offer you cheaper rates?

Looking at the national average rates for both carriers, Depositors has average rates that are around 35% a month less expensive than those from Le Mars.

Even so, that doesn't necessarily mean Depositors will be the more affordable option for every single driver. After all, auto insurance companies can offer drastically different rates to every driver depending on rating factors like your driving record, your age, your credit score, or even where you call home (among other things). So, at the end of the day, premiums from each company will differ quite a bit from person to person.

So, if you want to find out which of Depositors or Le Mars is really the best for you, keep reading to see average prices for each carrier broken down by lots of different rate factors.

Depositors vs. Le Mars: Average Car Insurance Rates by State

Depositors and Le Mars only compete against each other in Iowa, where Depositors offers the cheaper average rates. Depositors drivers tend to pay about $116 per month less on average compared to drivers who use Le Mars for their insurance.

There are plenty of other factors that go into your car insurance cost than just the state you live in. Continue reading to learn more about how other variables will affect your rates.

Which is the Best Company For Young Drivers?

You might already know that teen drivers typically pay a lot more for insurance than any other group of drivers out there on the road. It's generally 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 Depositors for their auto insurance pay over 25% less than those who use Le Mars.

But both carriers will offer you dramatically lower rates by the time drivers turn 25. For example, average prices for Depositors policyholders lower about $200 and Le Mars's premiums drop around $200 over that time.

Which is the Best Company for Retired Drivers?

Once you approach retirement age, you'll usually enjoy the cheapest car insurance rates you'll ever see. You've been on the road for years, and all that experience pays off when it comes to your monthly prices for insurance.

So, which company offers the best premiums to retired drivers? Depositors gets the edge, with prices for drivers 65 and older almost 45% cheaper than the national average for Le Mars.

Which is the Best Company for Married Drivers?

You may not be aware, but car insurance rates tend to be more affordable for married policyholders than they are for single drivers. That's because policies for married couples normally cover more than one vehicle, which lots of companies will give you a discount for.

For single policyholders, the difference in average premiums between these two carriers is significant, with Depositors rates coming in at a third less than Le Mars's. The advantage for married drivers with Depositors is also obvious, where drivers save nearly 40% a month.

Depositors or Le Mars: Average Rates by Gender

Because women are less likely to get tickets and get into collisions, they run a lower risk of filing a claim with insurance. So, insurance companies will tend to charge women less than men.

Generally, women see prices about 6% per month less with Depositors, but with Le Mars, the difference is closer to 12% a month.

When it comes to the most affordable premiums for each gender, Depositors comes out as the lowest option for both genders. On average, male drivers save about $97 per month and women save around $77 with Depositors compared to the average Le Mars policyholder.

Depositors vs. Le Mars: 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, auto insurance can be pretty complicated. Everyone needs insurance, but there are so many different coverages and terms that it can be hard 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 liability).

When it comes to state minimum limits for liability insurance, Le Mars has the edge, while Depositors offers the most affordable average prices for full coverage policies with similar coverage limits. Policyholders looking for basic state minimum coverage can save around $6 with Le Mars Insurance Company, while full coverage comes out to be about $200 less expensive with Depositors Insurance Company.

Is Depositors or Le Mars 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.

Speeding tickets and collisions will most likely raise your premiums, but is Depositors or Le Mars cheaper for drivers with spotty records?

Which Company is Best for Drivers with Speeding Tickets?

Drivers who use Depositors for their auto insurance can generally expect their monthly bill to go up around 18% after getting a speeding ticket. Le Mars policyholders can expect a bit more drastic of an increase of about 23%.

However, Depositors has less expensive rates for drivers in both categories, offering prices that are 23% and 28% more affordable, respectively, compared to Le Mars Insurance Company.

Which Company is Best for Drivers After an Accident?

Depositors policyholders who get in an accident can expect to see their premiums climb by over $50, while those who have insurance through Le Mars will see around a $50 increase.

At the end of the day, Depositors offers the cheapest rates for drivers with an at-fault collision on their records, with average premiums coming in at $157 compared to Le Mars Insurance Company's $186.

Which Company is Best for Drivers with a DUI?

If you get a DUI charge on your record, it's probably going to cost you more than a simple ticket or even a collision. On average, Le Mars will increase your prices about 68% after a DUI, while Depositors's average rates rise by more than 45%.

But if you end up with a DUI charge and are looking for more affordable prices, Depositors tends to be cheaper for the average driver, with monthly premiums coming in at around $198 to Le Mars's $434.

How does Credit Score Impact Depositors and Le Mars 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 true for everyone (Massachusetts, for example, has banned the use of credit score as an insurance factor) but it will come into play for many drivers.

The reasoning insurance carriers use is that policyholders with bad credit will be less likely to pay their bills on time; so normally, they'll be asked to pay more, while those with good credit will be rewarded with less expensive rates.

Looking specifically at Depositors and Le Mars, which one has the lowest prices for drivers at different credit levels?

Which Company is Best for Drivers with Good Credit?

If you have a solid credit score, Depositors will usually reward you the most. For policyholders with "excellent" credit scores, Depositors comes in nearly 13.33 cheaper. Drivers with "good" credit scores typically save about 26% with Depositors compared to average rates from Le Mars.

Which Company is Best for Drivers with Bad Credit?

Depositors typically offers lower premiums than Le Mars when it comes to drivers with less-than-stellar credit. Drivers with "fair" credit pay around 30% a month less with Depositors compared to Le Mars, and those with "poor" scores normally save an average of about 54% per month.

Is Depositors or Le Mars 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 substantial impact on your monthly auto insurance bill? That's because the more milage you put on your vehicle, the more likely you are to be in an accident and file 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 pretty significant difference in monthly prices for Le Mars, with drivers who put 6,000 miles on their car yearly paying around $30 less every month compared to those who drive 12,000 miles each year. Still, for drivers in both categories, Depositors is the more affordable carrier.

Depositors or Le Mars: Compare Rates for Urban, Suburban, and Rural Drivers

Where you live can have a pretty big impact on your monthly car insurance payment. Generally, drivers who live in heavily-populated urban areas will pay quite a bit more than rural policyholders due to the number of vehicles that are on the roads where they live.

Depositors tends to offer the most affordable rates for drivers in all areas, regardless of if they're urban, suburban, or rural.

Those in rural areas can expect to save about $105 with Depositors compared to Le Mars. People who live in suburban areas pay around $40 less with Depositors compared to Le Mars. For drivers in urban ZIP codes, Depositors Insurance Company's average prices are about $116 less than Le Mars Insurance Company.

Depositors vs. Le Mars Discounts

No matter why you might be in the market for a new 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 utilizing as many auto insurance discounts as possible.

But where do you even start? With so many discounts out there, it may seem challenging to find all the of the ones you're eligible for.

Luckily, we did the hard work for you and looked at all of the different discounts Depositors and Le Mars offer their customers so that you can easily see which company offers the most discounts and see which ones you might be able to take advantage of.

Both companies offer excellent discounts like discounts for being a good driver, group discounts, and discounts for insuring multiple cars with the same company.

Final Thoughts: Is Depositors or Le Mars Best for You?

So, we've broken down the average premiums for many of the variables insurance carriers look at, and we've shown you all the discounts each carrier offers. But, at the end of the day, which insurance company is the best fit for you?

Depositors might be best for you if....

• Your driving record includes a DUI charge.
• Your credit score is high.
• You've started working from home and don't have much of a commute.

Le Mars might be best for you if...

• You're looking for the best rates on liability only coverage.

Hopefully, this guide helps you get a good idea of the differences between Depositors and Le Mars. We also hope we've given you the information you need to make the best decision about your car 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 auto insurance -- comparing quotes from a handful of companies, not just Depositors and Le Mars. Luckily, sites like Compare.com do all the hard work for you. Just enter your ZIP code below and get multiple free quotes from some of the best car insurance carriers in your area, all in just a few minutes.

Depositors vs. Le Mars FAQs

Is Depositors or Le Mars cheaper?

Depositors is the less expensive of the two companies when looking at national average prices, with policies averaging $148 per month with Depositors and $234 for Le Mars. That being said, that doesn't mean Depositors will be the lowest carrier for every policyholder, since there are several different factors that are considered when it comes to your insurance bill.

Who is better, Depositors or Le Mars?

Unfortunately, the real answer is "it depends.". No one company is necessarily "better" for everyone -- it all depends on what your unique auto insurance profile looks like.

Why do Depositors and Le Mars offer me different rates?

Insurance carriers use quite a few different variables when determining the premiums they charge. Things like where you park your car, gender, age, where you call home, and sometimes even things like your credit score can all come into play. Both Depositors and Le Mars use different formulas, so it's likely they'll offer different prices. The best way to determine which carrier is the most affordable for you is by comparing personalized quotes from many different companies.

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

The only way to find the auto 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, Compare.com makes it easy for you to do just that. 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 lowest price. And maybe you'll find that the best carrier for you isn't Depositors or Le Mars 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.