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

Looking for car insurance and wondering if Depositors or Partners Mutual is the right company for you? If so, you're probably wondering which carrier has the lowest premiums or the biggest discounts. Luckily, we've done the heavy lifting for you and compared the two companies to help you find the best deal on your next insurance policy.
Newly insured car driving down the road
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Quick Facts

  • Based on national averages for car insurance, Partners Mutual offers more affordable rates than Depositors
  • Depositors offers less expensive average prices for drivers with a DUI charge on their record
  • Partners Mutual tends to be a much cheaper option for drivers who have less-than-stellar credit

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

Are you considering a new insurance policy? After all, you've seen ads from all sorts of companies offering big discounts. But exactly how much can you save by switching?

You might have narrowed your search down to Depositors or Partners Mutual as potential options, but between the two, which carrier has more affordable premiums for auto insurance?

Depositors Partners Mutual

Looking at nationwide averages, Depositors has average rates that are about 17% per month more expensive than those from Partners Mutual.

Even so, Partners Mutual may not be the cheapest or best option for every single driver out there. Car insurance companies use a variety of complex algorithms to calculate rates, so depending on how old you are or where you live (among a variety of other factors), you could see wildly different prices from the ones above.

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

Depositors or Partners Mutual: Average Car Insurance Rates by State

State Depositors Partners Mutual

Depositors and Partners Mutual only compete against each other in Iowa, where Depositors offers the cheaper average premiums. For Iowa residents, Depositors offers insurance for $118 a month on average. Partners Mutual's average prices come out to be more expensive, at $123 monthly.

There's a lot more that goes into your auto insurance payment than just where you live. Continue reading to learn more about how other factors will affect your rates.

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Which is the Best Company For Young Drivers?

Depositors Partners Mutual
18-year-old drivers$311$243
25-year-old drivers$132$106

You might already know that teen drivers generally pay a lot more for insurance than any other group of drivers out there on the road. That's because young, inexperienced 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 Partners Mutual for their car insurance pay nearly $70 less than those who use Depositors.

But both carriers will offer you dramatically lower prices by the time you turn 25. For example, average rates for Depositors policyholders drop almost $200 and Partners Mutual's premiums reduce around $150 over that time.

Which is the Best Company for Retired Drivers?

Depositors Partners Mutual
65+-year-old drivers$111$99

When it comes to insurance, patience and experience pay off, with drivers around retirement age paying some of the most affordable rates you'll ever see.

So, which carrier offers the best prices to retired drivers? Partners Mutual gets the edge, with premiums for drivers 65 and older $12 cheaper than the national average for Depositors.

Which is the Best Company for Married Drivers?

Depositors Partners Mutual

Did you know that car insurance prices are usually less expensive for married drivers than they are for single policyholders? This usually boils down to married couples having more than one car on their policy -- something many auto insurance companies will reward with discounts.

When it comes to relationship status, Partners Mutual is the clear winner for single drivers, with rates about $33 a month more affordable than Depositors, on average. For married policyholders, the advantage is clear again - Partners Mutual has the edge when it comes to average prices.

Depositors vs. Partners Mutual: Average Rates by Gender

Depositors Partners Mutual

You may not know, but car insurance is typically cheaper for women than it is for men. This is because men are more likely to get into collisions and get tickets, which increases the chances of an insurance claim.

On average, men see rates nearly $10 per month higher with Depositors, and around $10 with Partners Mutual.

When it comes to the lowest premiums for each gender, Partners Mutual comes out on top for both men and women, with average rates $25 less for men and $24 cheaper for women.

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Depositors or Partners Mutual: Compare State Minimum vs. Full Coverage Rates

Depositors Partners Mutual
State Minimum*$84$52
Full Coverage**$211$194

*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 auto insurance can be pretty complicated. There are so many different coverages and terms that it can make it pretty confusing to find the right policy.

The two most common policies that many drivers look at fall into two categories -- liability only (which provides property damage and bodily injury coverage for other drivers and their passengers if you cause an accident) and full coverage (which normally refers to having comprehensive and collision coverages in addition to what you get with liability coverage).

If you're looking for state minimum liability insurance, Partners Mutual generally offers significantly less expensive premiums of $52 compared to Depositors's $84. When it comes to full coverage policies with similar limits, Partners Mutual again has the edge, with policies about $15 a month cheaper than Depositors, on average.

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

It's no big secret that drivers who are accident-free get better deals on their insurance. But even if you have a spotty record, you can still find plenty of ways to save some cash on your monthly bill.

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

Which Company is Best for Drivers with Speeding Tickets?

Depositors Partners Mutual
Clean Record$106$79
1 Speeding Ticket$130$95

Depositors policyholders can expect their premiums to go up an average of $24 per month if they get a ticket, while Partners Mutual usually raises rates around $16 a month, on average.

That being said, Partners Mutual is normally the less expensive option for drivers both with clean records and with a speeding ticket. Drivers with a clean record can save about $27 per month and drivers with a ticket can save around $35 a month with Partners Mutual Insurance.

Which Company is Best for Drivers After an Accident?

Depositors Partners Mutual
Clean Record$106$79
1 At-Fault Accident$157$115

Both companies will increase prices pretty significantly if you get into an at-fault accident with Depositors climbing by over $50. Partners Mutual has a less extreme raise, but you can still expect to pay more than $35 more than you were prior to your first collision.

Overall, the cheaper premiums come from Partners Mutual, with monthly prices averaging $115 compared to Depositors Insurance Company's $157.

Which Company is Best for Drivers with a DUI?

Depositors Partners Mutual
Clean Record$106$79
1 DUI$198$203

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. On average, Partners Mutual will increase your rates about 61% after a DUI, while Depositors's average prices climb by over 45%.

If you have a DUI on your record and are looking for more affordable premiums, Depositors tends to be the much more affordable option with average rates of $198 per month compared to $203 from Partners Mutual.

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How does Credit Score Impact Depositors and Partners Mutual Rates?

Did you know that many car insurance carriers take into account your credit score when calculating premiums? This isn't always the case (California, for example, has banned the use of credit score as a rating factor) but it does affect lots of drivers out there.

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

So, which company offers the cheapest prices for drivers with good, average, or poor credit?

Which Company is Best for Drivers with Good Credit?

Depositors Partners Mutual
Excellent Credit Score$117$92
Good Credit Score$134$108

If you have a solid credit score, you'll usually find a better deal with Partners Mutual. Policyholders with "excellent" credit can save more than 20% compared to Depositors, and those with "good" scores can also expect to see savings -- around $26 or 19% more affordable each month.

Which Company is Best for Drivers with Bad Credit?

Depositors Partners Mutual
Fair Credit Score$155$126
Poor Credit Score$185$166

Partners Mutual typically offers lower premiums than Depositors when it comes to drivers with bad credit. Drivers with "fair" credit pay about $29 per month less with Partners Mutual compared to Depositors, and those with "poor" scores usually save an average of around $19 monthly.

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Is Depositors or Partners Mutual Better for Drivers who Work from Home or Have Short Commutes?

Depositors Partners Mutual
6,000 Annual Miles$148$123
12,000 Annual Miles$148$123

The amount of time you spend behind the wheel of your car plays a big role in how much auto insurance carriers will charge for coverage. Typically, those who drive fewer miles will end up with less expensive rates since there's less of a chance of getting into a collision and causing an insurance claim.

In this case, neither Depositors or Partners Mutual report increasing prices for drivers with higher annual mileage figures. Even so, Partners Mutual comes out as the most affordable for drivers at both intervals, whether they put 6,000 or 12,000 miles on their vehicle every year, with average rates of $123 a month for both.

Depositors vs. Partners Mutual: 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 insurance, but the type of area you live in can have a big impact as well. Normally, drivers who live in less densely populated rural areas will pay quite a bit less than urban policyholders because of the small number of cars that are on the roads in those areas.

Depositors Partners Mutual
Urban Areas$174$143
Suburban Areas$139$108
Rural Areas$130$118

Partners Mutual boasts the lowest average prices for drivers in all types of areas, no matter if they're urban, suburban, or rural.

If you live in a rural area, you can expect to pay about $118 per month with Partners Mutual compared to Depositors's $130. People in suburban areas pay a monthly premium of around $108 with Partners Mutual compared to $139 with Depositors. For drivers in urban ZIP codes, Partners Mutual's average premiums are about $143 while Depositors offers prices around $174.

Depositors vs. Partners Mutual Discounts

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

The difficult part is finding all of the discounts you can take advantage of, since it can feel sometimes like every company has different discounts and each one is advertised differently.

In the table below, we've broken down all of the different discounts offered by both Depositors and Partners Mutual so that you can find the company that has the most discounts and, therefore, the biggest savings.

Depositors Partners Mutual
ABS Discount 
Advance Quote Discount
Anti-Theft Discount 
Covid-19 Relief Discount 
Defensive Driver Discount 
Distant Student Discount 
EFT Discount 
Employee Discount 
ESC Discount 
Good Driving Discount 
Good Student Discount 
Group Discount
Homeowner Discount 
Intra-Agency Transfer Discount 
Life Policy Discount 
Multi-Car Discount 
Multi-Policy Discount
New Vehicle Discount 
Paid In Full Discount 
Paperless Discount 

Depositors knocks Partners Mutual out of the park when it comes to the sheer number of discounts available, offering nine more discounts than Partners Mutual.

Both companies offer many of the same discounts -- like advance quote discounts, multi-policy discounts, and passive restraint discounts -- but Depositors also offers COVID-19 relief discount, defensive driver discounts, distant student discounts, and more that Partners Mutual does not.

On the flip side, Partners Mutual has a couple unique discounts of its own -- ABS discounts, anti-theft discounts, ESC discounts, and more.

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

So, you've seen how different variables can affect your insurance rates. We've shown you all the discounts each carrier offers, too. But, at the end of the day, which company is the right one for you and your specific profile and needs?

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

  • You're single and purchasing auto insurance by yourself.
  • You have above-average credit.
  • You live in a rural neighborhood.

Depositors might be best for you if...

  • You have a DUI charge on your record.
  • You're looking for the carrier with the most discounts.

We hope this guide helps you get a good idea of the differences between Depositors and Partners Mutual 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 multiple carriers, not just Depositors and Partners Mutual. Luckily, makes it easy for you to do just that. Just enter your ZIP code below and get multiple free quotes from some of the best car insurance companies in your area, all in just a few minutes.

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Depositors vs. Partners Mutual FAQs

Is Depositors or Partners Mutual cheaper?

Looking just at the national average premiums, Partners Mutual is the more affordable of the two carriers, offering average rates of $123 per month compared to $148 for Depositors. However, Partners Mutual won't necessarily be the cheapest company for everyone, since there are lots of different factors (things like age, gender, driving record, etc.) that play a role in how much you pay.

Who is better, Depositors or Partners Mutual?

Sadly, the only answer we can give you is "it depends.". No single carrier is "better" for each driver -- it all boils down to your unique insurance profile. For example, Depositors offers cheaper rates for drivers with a recent DUI, while Partners Mutual is less expensive for drivers with excellent credit.

Why do Depositors and Partners Mutual offer me different rates?

Auto insurance companies take a look at a lot of different variables when determining the prices they charge drivers. Factors such as gender, where you park your vehicle, age, your driving record, and sometimes even things like your credit score can all be used. Both Depositors and Partners Mutual use different formulas, so each one will most likely offer different premiums. The only real way to see which company is the lowest for you is by comparing personalized quotes from many different carriers.

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

The only way to find the car insurance carrier that's right for you is by getting quotes from a handful of companies and finding the one best suited for your individual budget. Luckily, sites like make it easy for you to do just that. Just enter your area information and you'll get free quotes from dozens of the best insurance carriers in your area. That way, you can guarantee you're getting the best price. And who knows, the best company for you might not be Depositors or Partners Mutual at all!


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.

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