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

Quick Facts

• Looking at the national averages for car insurance, Depositors offers significantly less expensive premiums than Mendakota
• Depositors tends to be a much more affordable option for single people who will be the only person on the insurance policy
• Depositors offers cheaper average rates for drivers with a DUI

Depositors or Mendakota: Which Company has the Cheapest Car Insurance?

Are you in the market for a new insurance policy? With so many ads from all sorts of companies offering hefty savings, you're probably wondering exactly how much you might be able to save.

You might be considering Depositors or Mendakota, but which carrier will save you the most?

Looking at nationwide averages, Depositors has average rates that are around 40% a month more affordable than those from Mendakota.

However, that doesn't necessarily mean Depositors will be the less expensive option for each driver. Auto insurance carriers vary their prices depending on things like how good your credit score is, how clean your driving record is, how old you are, where you live, and a ton of other factors, so rates could vary drastically from person to person.

Wanting to know if Depositors or Mendakota is really the right company for you? Keep on reading to see how average premiums can change based on all of the factors we've mentioned above.

Depositors vs. Mendakota: Average Car Insurance Rates by State

Depositors and Mendakota only compete against each other in Nevada, where Depositors offers the cheaper average prices. Depositors drivers tend to pay about $73 per month less on average compared to drivers who use Mendakota for their car insurance.

There's a lot more that goes into your insurance bill than just where you call home. Continue reading to see how other variables will affect your rates.

Which is the Best Company For Young Drivers?

Young drivers -- especially teens -- usually pay a lot for car insurance compared to older drivers. That's because teen drivers are statistically much more likely to get into an accident that results in a car insurance claim, making them much riskier to insure.

But that doesn't mean teen drivers can't still save money on their auto insurance. For example, 18-year-old drivers pay an average of almost 30% less a month by choosing Depositors over Mendakota.

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

Which is the Best Company for Retired Drivers?

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

But who has the best premiums for retired drivers between Depositors and Mendakota? Depositors gets the edge, with prices for drivers 65 and older over 40% cheaper than the national average for Mendakota.

Which is the Best Company for Married Drivers?

Married couples tend to get slightly less expensive car insurance premiums than single policyholders. That's because policies for married policyholders normally cover multiple vehicles, which lots of carriers will give you a discount for.

For those who are single, the difference in average rates between these two companies is significant, with Depositors premiums coming in at a third less than Mendakota's. The advantage for married drivers with Depositors is also obvious, where drivers save about $90 per month.

Depositors or Mendakota: Average Rates by Gender

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

With Depositors, women normally pay around $10 a month less than men, and nearly $20 cheaper with Mendakota when compared to their male counterparts.

Looking at the data for each carrier specifically, Depositors comes out as the cheapest option for both genders. On average, women save about $92 per month and men save about $101 with Depositors compared to the average Mendakota policyholder.

Depositors vs. Mendakota: 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 isn't the easiest topic to understand. Everyone needs insurance, but there are so many different terms and coverages that it can be hard to find the right policy for you.

That being said, most policies that drivers look at fall into two categories -- liability coverage (that covers property damage and bodily injury for other drivers and their passengers if you cause a collision) and full coverage (which generally refers to having collision and comprehensive coverages in addition to what you get with liability).

Looking specifically at state minimum limits for liability insurance, Depositors has the significant edge, with average monthly prices coming in at $84. If you want a full coverage policy with the same state minimum limits, Depositors again has the edge, with policies averaging around $211 a month to Mendakota's $316.

Is Depositors or Mendakota Better for Drivers with Spotty Records?

You've probably seen plenty of commercials from auto insurance carriers offering great rates 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 accidents and speeding tickets lead to higher premiums, but which company -- Depositors or Mendakota -- has the most affordable rates for drivers with less-than-perfect records?

Which Company is Best for Drivers with Speeding Tickets?

Policyholders who use Depositors for their insurance can usually expect their monthly bill to go up about 18% after getting a speeding ticket. Mendakota policyholders can expect a less drastic increase of around 8%.

However, Depositors has more affordable prices for drivers in both categories, offering premiums that are 52% and 46% cheaper, respectively, compared to Mendakota Insurance Company.

Which Company is Best for Drivers After an Accident?

Depositors drivers who get in an accident can expect to see their rates rise by over 30%, while those who have insurance through Mendakota will see about a 20% increase.

At the end of the day, Depositors offers the lowest prices for drivers with an at-fault collision on their records, with average rates coming in at $157 compared to Mendakota Insurance Company's $273.

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, Depositors will increase your prices around 46% after a DUI, while Mendakota's average premiums climb by nearly 10%.

But if you end up with a DUI charge and are looking for more affordable prices, Depositors tends to be less expensive for the average driver, with monthly premiums coming in at about $198 to Mendakota's $241.

How does Credit Score Impact Depositors and Mendakota Rates?

Did you know many auto insurance companies take your credit score into account when determining premiums? This isn't true for everyone (Hawaii, for example, has banned the use of credit score as an insurance factor) but it will come into play for several policyholders.

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

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

Which Company is Best for Drivers with Good Credit?

If you have great credit, Depositors will normally reward you the most. For policyholders with "excellent" credit scores, Depositors comes in more than 52.05 cheaper. Drivers with "good" credit scores usually save around 45% with Depositors compared to average premiums from Mendakota.

Which Company is Best for Drivers with Bad Credit?

Depositors typically offers lower prices than Mendakota when it comes to drivers with a below average credit score. Drivers with "fair" credit pay about 36% per month less with Depositors compared to Mendakota, and those with "poor" scores typically save an average of around 24% monthly.

Is Depositors or Mendakota 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 considerable impact on your monthly rates? That's because the more milage you put on your car each year, the more likely you are to be in an accident and file an insurance claim.

In this case, neither Depositors or Mendakota report increasing prices for drivers with higher annual mileage figures. That being said, Depositors comes out as the cheapest for drivers at both intervals, whether they put 6,000 or 12,000 miles on their vehicle yearly, with average premiums of $148 a month for both.

Depositors or Mendakota: 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 sizable impact as well. Generally, those who live in rural areas will pay less than drivers in urban areas since there are a lot fewer cars on the roads where they live.

Depositors boasts the most affordable average rates for drivers in all types of areas, no matter if they're urban, suburban, or rural.

Those in rural areas can expect to save about $8 with Depositors compared to Mendakota. People who live in suburban areas pay around $37 less with Depositors compared to Mendakota. For policyholders in urban ZIP codes, Depositors Insurance Company's average prices are about $244 less than Mendakota Insurance Company.

Depositors vs. Mendakota Discounts

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

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

Luckily, we did the hard work for you and compared all of the different discounts offered by Depositors and Mendakota so that you can see which company offers the most discounts and see which ones you might be able to take advantage of.

Depositors blows Mendakota away when it comes to the sheer amount of discounts available, offering 12 more discounts than Mendakota.

A couple of those are overlapping for things like discounts for being a defensive driver, discounts for insuring multiple cars with the same company, and passive restraint discounts. Depositors also offers discounts for advance quote, COVID-19 relief, distant student, and more.

On the other hand, Mendakota has a proprietary discount of their own -- a paid in full discounts.

Final Thoughts: Is Depositors or Mendakota Best for You?

You've seen the effect certain factors have on your car insurance and the different discounts companies offer. That's all well and good, but when it comes down to it, is Depositors or Mendakota the right one for you and your specific driver profile?

Depositors might be best for you if....

• You will be the only person on the auto insurance policy.
• You have above-average credit.
• You want to save money while purchasing car insurance for a teenager.

Mendakota might be best for you if...

• You have a more unique driver profile than those we mentioned above.

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

Depositors vs. Mendakota FAQs

Is Depositors or Mendakota cheaper?

Depositors is the more affordable of the two carriers when looking at national average rates, with policies averaging $148 per month with Depositors and $244 for Mendakota. That being said, that doesn't mean Depositors will be the cheapest carrier for each policyholder, since there are multiple different variables (things like age, driving record, gender, etc.) that play a role in how much you pay.

Who is better, Depositors or Mendakota?

Unfortunately, the only answer we can give you is "it depends.". Neither company is "better" for everyone -- it all depends on the makeup of your unique insurance profile.

Why do Depositors and Mendakota offer me different rates?

Car insurance companies use quite a few different factors when calculating the premiums they charge. Things such as gender, age, your driving record, where your home is, and sometimes even things like your credit score can all be taken into consideration. Both Depositors and Mendakota calculate prices using different variables, so it's likely they'll offer different rates. The best way to determine which carrier is the lowest for you is by comparing personalized quotes from lots of different carriers.

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

The only way to find the insurance company that's right for you is by getting quotes from several companies 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 auto insurance carriers for free. With those, you can guarantee you're getting the most affordable premium. And maybe you'll find that the best carrier for you isn't Depositors or Mendakota 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.