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

Quick Facts

• In general, Oregon Mutual offers slightly cheaper rates than Depositors
• Depositors may help you save more money -- they offer more discounts than Oregon Mutual
• Oregon Mutual offers more affordable prices for policyholders who live in urban areas

Depositors or Oregon Mutual: Which Company has the Cheapest Car Insurance?

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

You've maybe even narrowed your search down to Depositors or Oregon Mutual as your top options, but between the two, which company will offer you less expensive rates?

As you can see, Depositors is around $13 more a month than Oregon Mutual when looking at the national average rates for auto insurance.

However, that doesn't mean Oregon Mutual will necessarily be more affordable than Depositors for every driver. Car insurance carriers use tons of complex algorithms to determine premiums, so depending on how old you are or how good your credit score is (among many other factors), you could see wildly different prices from the ones above.

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

Depositors vs. Oregon Mutual: Average Car Insurance Rates by State

Depositors and Oregon Mutual only compete against each other in one states, with Oregon Mutual offering less expensive prices to the average driver in all of them. Idaho has the most noticable difference, where Oregon Mutual premiums are $44 more affordable than auto insurance prices at Depositors.

That being said, there's a lot more that goes into your insurance bill than just the state you live in. Keep reading to learn more.

Which is the Best Company For Young Drivers?

You might already know that teen drivers usually pay a lot more for car insurance than any other group of drivers out there on the road. That's because teen drivers are statistically much more likely to get into accidents since they have less experience on the roads.

That being said, 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 over 10% less per month by choosing Depositors over Oregon Mutual.

But both companies will drop premiums by the time you turn 25. For example, average rates for Depositors policyholders decrease about $200 and Oregon Mutual's premiums lower almost $250 over that time.

Which is the Best Company for Retired Drivers?

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

When looking at Depositors and Oregon Mutual specifically, which carrier is best for retired drivers? Oregon Mutual gets the slight edge here, with average premiums coming in at around $100 per month compared to Depositors's $111.

Which is the Best Company for Married Drivers?

Did you know that auto insurance rates are normally more expensive for single drivers than they are for married couples? That's because policies for married drivers generally cover several vehicles, which several carriers will give you a discount for.

For single policyholders, the difference in average prices between these two companies is not very significant, with Oregon Mutual premiums coming in at about 5% less than Depositors's. But for married policyholders, the advantage is clear - Oregon Mutual offers the cheapest average prices.

Depositors or Oregon Mutual: Average Rates by Gender

You may not know, but insurance is normally more expensive for men than for women. This is because men are statistically more likely than women to get pulled over for speeding or get into a collision, which leads to increased risk for insurers and, therefore, higher rates.

Women typically pay around 6% a month less than men with Depositors, and about 9% less with Oregon Mutual.

Looking at the data for each company specifically, Oregon Mutual offers the most affordable average prices for both men and women. On average, women save about $14 per month and men save around $11 with Oregon Mutual compared to the average Depositors policyholder.

Depositors vs. Oregon Mutual: 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.

It's no secret that car insurance can be pretty complicated. There are so many different terms and coverages that it can make it pretty confusing to find the right policy for you.

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

When it comes to state minimum liability insurance, Depositors has the edge, while Oregon Mutual offers the cheapest average rates for full coverage policies with similar coverage limits. Policyholders looking for basic state minimum coverage can save around $15 with Depositors Insurance Company, while full coverage comes out to be about $40 cheaper with Oregon Mutual.

Is Depositors or Oregon Mutual Better for Drivers with Spotty Records?

It's no secret -- drivers with good records end up getting the best deals on their insurance. But that's not to say you can't save money if you don't have the best driving record, either.

You'll probably end up paying more with speeding tickets and at-fault collisions on your record, but which of these two carriers offers the most affordable premiums to drivers with less-than-ideal driving records?

Which Company is Best for Drivers with Speeding Tickets?

Drivers who use Depositors for their car insurance can generally expect their monthly bill to go up around 18% after getting a speeding ticket. Oregon Mutual policyholders can expect a less drastic increase of about 9%.

If you have gotten a ticket, Oregon Mutual tends to offer the best rates at around 6% more affordable, while Depositors has the edge for drivers with a clean record.

Which Company is Best for Drivers After an Accident?

Depositors policyholders who get in a collision can expect to see their premiums increase by over 30%, while those who have insurance through Oregon Mutual will see about a 15% increase.

At the end of the day, drivers who use Oregon Mutual end up with the cheaper prices after an accident, with average prices coming in at $133 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 -- typically a lot more than an accident or speeding ticket. For example, Depositors increases average premiums by more than $90 a month -- that's more than a 45% increase.

But if you end up with a DUI charge and are looking for more affordable rates, Oregon Mutual tends to be less expensive for the average driver, with monthly premiums coming in at around $171 to Depositors's $198.

How does Credit Score Impact Depositors and Oregon Mutual Rates?

Did you know many car insurance companies take into account your credit score when determining prices? This isn't true for everyone (for example, are two states that ban the practice entirely), but it does affect lots of drivers out there.

Auto insurance carriers 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, policyholders with good credit will often be rewarded with cheaper rates.

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

Which Company is Best for Drivers with Good Credit?

If you have a solid credit score, Oregon Mutual will generally reward you the most. For policyholders with "excellent" credit scores, Oregon Mutual comes in NaN more affordable. Drivers with "good" credit scores normally save about 10% with Oregon Mutual compared to average premiums from Depositors.

Which Company is Best for Drivers with Bad Credit?

Oregon Mutual typically offers lower rates than Depositors when it comes to drivers with a below average credit score. Drivers with "fair" credit pay around 16% per month less with Oregon Mutual compared to Depositors, and those with "poor" scores usually save an average of about 8% a month.

Is Depositors or Oregon Mutual 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 payment. Generally, the more milage you put on your car each year, the more you can expect to pay for coverage.

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 premiums for Oregon Mutual, with policyholders who drive the least paying around $5 less every month compared to those who drive 12,000 miles yearly. Still, for drivers in both categories, Oregon Mutual is the cheaper company.

Depositors or Oregon Mutual: Compare Rates for Urban, Suburban, and Rural Drivers

Where you park your vehicle can have a pretty big impact on your monthly auto insurance cost. Typically, those who live in urban areas will pay more than drivers in rural areas because of the number of cars that are on the roads where they live.

When comparing these two companies side-by-side, Oregon Mutual usually comes out as the cheapest option for drivers in every type of area, no matter if it's urban, suburban, or rural.

Those in rural areas can expect to save about 12% with Oregon Mutual compared to Depositors. People who live in suburban areas pay around 1% less with Oregon Mutual compared to Depositors. For policyholders in urban ZIP codes, Oregon Mutual's average prices are about 13% less than Depositors Insurance Company.

Depositors vs. Oregon Mutual Discounts

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

The hard part is finding all of the discounts you can take advantage of, 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 Depositors and Oregon Mutual offer their customers so that you can easily see which company offers the most discounts and, therefore, the largest savings.

Overall, Depositors comes out ahead with 17 discounts to Oregon Mutual's 15.

Both carriers offer many of the same discounts -- like distant student discounts, employee discounts, and discounts for insuring multiple cars with the same company -- but Depositors also offers discounts for COVID-19 relief, EFT, good driving, and more.

On the other hand, Oregon Mutual has a few proprietary discounts of their own for things like anti-theft discounts, csl discounts, driver training discounts, and more.

Final Thoughts: Is Depositors or Oregon Mutual Best for You?

So, we've broken down the average premiums for many of the variables insurance companies look at, and walked through the different discounts each company offers, too. But, at the end of the day, is Depositors or Oregon Mutual the best fit for you?

Oregon Mutual might be best for you if....

• Your driving record includes a DUI charge.
• You have less-than-stellar credit.
• You have a short commute.

Depositors might be best for you if...

• You care about discounts (Depositors offers the most).
• You're looking for the best rates on liability only coverage.
• You want to save money while purchasing car insurance for a teenager.

Hopefully, this guide helps you get a good idea of the differences between Depositors and Oregon Mutual and that you can now make a more informed decision when it comes to your 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 multiple carriers, not just Depositors and Oregon Mutual. Luckily, sites like Compare.com do all the hard work for you. Just enter your ZIP code below and get multiple quotes from some of the best car insurance companies in your area, all for free.

Depositors vs. Oregon Mutual FAQs

Is Depositors or Oregon Mutual cheaper?

Oregon Mutual is the less expensive of the two carriers when looking at national average prices, with policies averaging $135 a month with Oregon Mutual and $148 for Depositors. That being said, that doesn't mean Oregon Mutual will be the lowest carrier for each driver, since there are lots of different factors that are considered when it comes to your auto insurance bill.

Who is better, Depositors or Oregon Mutual?

Sadly, the only answer we can give you is "it depends.". One company is not necessarily "better" for everyone -- it all depends on what your unique insurance profile looks like.

Why do Depositors and Oregon Mutual offer me different rates?

Auto insurance companies use quite a few different variables when calculating the rates they charge. Factors like your driving record, age, where you call home, gender, and sometimes even things like your credit score can all be taken into consideration. Both Depositors and Oregon Mutual calculate premiums differently, 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 multiple different carriers.

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

The only way to find the car 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, Compare.com makes it easy for you to do just that. Just enter your area information and you'll get quotes from dozens of your local top insurance carriers for free. That way, you can guarantee you're getting the best premium. And maybe you'll find that the best carrier for you isn't Depositors or Oregon Mutual 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.