Electric vs. Esurance: Which Company is the Best Fit for You?

Quick Facts

• Looking at the national averages for insurance, Electric offers more affordable prices than Esurance
• Electric offers less expensive average premiums for drivers who have an at-fault accident on their record
• Esurance offers more affordable prices for drivers with a DUI charge on their record

Electric vs. Esurance: Which Company has the Cheapest Car Insurance?

So, you're thinking about switching your auto insurance. After all, you've seen ads from all sorts of companies offering huge discounts. But exactly how much can you save by switching?

You might have narrowed your search down to Electric or Esurance as potential options, but which company has cheaper rates for car insurance?

Looking at nationwide averages, Esurance has average rates that are about 11% per month more expensive than those from Electric.

However, that doesn't mean Electric will necessarily be more affordable than Esurance for each driver. Insurance companies use tons of complex algorithms to calculate premiums, so depending on how good your credit score is or how old you are (among a whole range of other factors), you could see wildly different rates from the ones above.

Luckily, we've broken down average premiums from both Electric and Esurance by multiple different rate factors, so read on to find out which company is the best for you.

Electric or Esurance: Average Car Insurance Rates by State

Electric and Esurance only compete against each other in one states, with Electric offering cheaper prices to the average driver in all of them. Missouri has the most noticable difference, where Electric premiums are over 20% less expensive than auto insurance prices at Esurance.

There's a lot more that goes into your insurance bill than just where you call home. Keep reading 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. That's because young, inexperienced drivers are statistically much more likely to get into an accident that results in an auto insurance claim, making them much riskier to insure.

But still, even with seemingly sky-high rates, teen drivers can still find ways to save money. Just look at the table above -- where 18-year-old drivers who have Electric for their auto insurance pay more than $100 less than those who use Esurance.

But with both carriers, you'll see your premiums reduce significantly by the time you turn 25. For example, average rates for Electric policyholders decrease over $300 and Esurance's prices lower nearly $500 over that time.

Which is the Best Company for Retired Drivers?

Drivers around retirement age generally enjoy some of the cheapest car insurance premiums out there. After all, they've likely been driving for quite some time, which usually lowers their chances of accidents and other infractions that can increase rates.

When looking at Electric and Esurance specifically, which carrier is best for retired drivers? Electric gets the edge here, with average prices coming in at around $178 a month compared to Esurance's $232.

Which is the Best Company for Married Drivers?

Did you know that auto insurance rates are normally cheaper for married couples than they are for those who are single? That's typically because married policyholders tend to own and insure several cars, which can often earn you a discount.

When it comes to relationship status, Electric is the clear winner for single policyholders, with premiums about $48 a month less expensive than Esurance, on average. But for married drivers, that advantage is much less clear - Electric has the edge when it comes to average prices.

Electric vs. Esurance: Average Rates by Gender

Because men are more likely to get into accidents and get tickets, they run a larger risk of filing a claim with insurance. Therefore, men tend to pay more for insurance than women.

Women normally pay around 7% per month less than men with Electric, and about 7% less with Esurance.

When it comes to the most affordable premiums for each gender, Electric comes out on top for both men and women. On average, women save about $31 a month and men save around $33 with Electric compared to the average Esurance policyholder.

Electric or Esurance: 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.

Auto insurance isn't the easiest topic to understand. There are a bunch of different coverages that account for several different things. Some protect you and your vehicle, while others only provide coverage for other people's property and health if you cause an accident.

Even so, most policies end up falling into two different types of coverage -- liability only (which covers the other party's injuries and property damage if you cause a collision) and full coverage (which includes two additional coverages -- comprehensive and collision -- alongside liability).

If you're looking for state minimum liability insurance, Electric usually offers significantly more affordable prices of $150 compared to Esurance's $201. When it comes to full coverage policies with similar limits, Electric again has the edge, with policies about $15 per month less expensive than Esurance, on average.

Is Electric or Esurance Better for Drivers with Spotty Records?

You've probably seen plenty of commercials from insurance companies 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 collisions and tickets lead to higher premiums, but which company -- Electric or Esurance -- has the lowest prices for drivers with less-than-ideal driving records?

Which Company is Best for Drivers with Speeding Tickets?

Electric policyholders can expect their rates to go up an average of $29 a month if they get a ticket, while Esurance generally raises premiums around $45 per month, on average.

That being said, Electric is normally the cheaper option for both drivers who have a recent speeding ticket and those with clean records, offering rates that are $34 and $50 more affordable, respectively, compared to Esurance.

Which Company is Best for Drivers After an Accident?

Electric drivers who get in an accident can expect to see their prices increase by over 10%, while those who have insurance through Esurance will see about a 35% increase.

Overall, Electric offers the cheapest rates for drivers with an at-fault collision on their records, with monthly prices averaging $236 compared to Esurance's $364.

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 ticket when it comes to your car insurance bill. For example, Electric increases average premiums by just under $200 a month -- that's over a 45% increase.

How does Credit Score Impact Electric and Esurance Rates?

Did you know that many auto insurance carriers take your credit score into account when calculating prices? This isn't always the case (for example, Massachusetts and Michigan are two states that ban the practice entirely), but it does affect several policyholders out there.

Car insurance companies 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, drivers with good credit will often be rewarded with cheaper rates.

Looking at Electric and Esurance specifically, which carrier has the most affordable premiums for policyholders at different credit levels?

Which Company is Best for Drivers with Good Credit?

Which Company is Best for Drivers with Bad Credit?

Is Electric or Esurance 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 big impact on your monthly insurance payment? Usually, those who drive fewer miles will end up with more affordable rates since there's less of a chance of getting into a collision and causing an insurance claim.

For both drivers who put 6,000 miles on their vehicles annually, as well as those who average twice that figure, Electric tends to be the less expensive option. Esurance's average premiums for drivers with 6,000 annual miles come in more than 15% more expensive than Electric. Those who drive 12,000 miles each year can expect to pay 5% more with Esurance over Electric.

Electric vs. Esurance: Compare Rates for Urban, Suburban, and Rural Drivers

Where your home is can play a large role in how much you pay for auto insurance. Generally, drivers who live in less densely populated rural areas will pay quite a bit less than urban policyholders because there are a lot fewer vehicles on the road in those areas, which decreases the chances of an accident.

Looking at these carriers side-by-side, Electric boasts the lowest average premiums in urban and suburban areas, while Esurance wins in rural areas.

If you live in a rural area, you can expect to save around $51 with Esurance compared to Electric. Drivers in suburban ZIP codes pay about $54 less with Electric compared to Esurance. In urban areas, Electric Insurance Company's average prices are around $92 less than Esurance.

Electric vs. Esurance Discounts

Regardless of why you might be in the market for a new car insurance policy, you're always going to want to save as much money as possible, and the best way to do that is by taking advantage of as many insurance discounts as you can.

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

In the table below, we've broken down all of the different discounts offered by both Electric and Esurance so that you can easily see which company offers the most discounts and, therefore, the biggest savings.

Esurance blows Electric away when it comes to the sheer amount of discounts available, offering seven more discounts than Electric.

Both companies offer many of the same discounts -- like advance quote discounts, discounts for being a defensive driver, discounts for being a good driver, and multi-policy discounts -- but Esurance also offers agency transfer discounts, DRL discounts, education discounts, and more that Electric does not.

On the flip side, Electric has a couple unique discounts of its own -- COVID-19 relief discount, discounts for getting driver training, electric vehicle discounts, and more.

Final Thoughts: Is Electric or Esurance Best for You?

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

Electric might be best for you if....

• You're single and purchasing auto insurance by yourself.
• You have above-average credit.
• You are over 65 years old and want to save some money on your insurance.

Esurance might be best for you if...

• You have a DUI charge on your record.
• You want to save extra money with discounts.
• Your neighborhood is in a rural area.

We hope this guide helps you get a better idea of the difference between Electric and Esurance and that it aids in making a more informed decision about your auto insurance.

At the end of the day, the sure-fire way to make sure you're getting the best deal on your insurance policy is to compare quotes from multiple companies, not just Electric and Esurance. Luckily, sites like Compare.com make 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 carriers in your area, all in just a few minutes.

Electric vs. Esurance FAQs

Is Electric or Esurance cheaper?

Looking just at the national average rates, Electric is the more affordable of the two companies, offering average rates of $266 per month compared to $299 for Esurance. But Electric won't necessarily be the most affordable company for every driver, since there are many different variables (things like age, driving record, gender, etc.) that play a role in how much you pay.

Who is better, Electric or Esurance?

Unfortunately, the real answer is "it depends.". One carrier is not necessarily "better" for everyone -- it all comes down to what your unique auto insurance profile looks like. For example, Esurance offers less expensive premiums for drivers with a recent DUI, while Electric is cheaper for drivers with excellent credit.

Why do Electric and Esurance offer me different rates?

Insurance carriers take a look at lots of different factors when determining the rates they charge drivers. Variables such as gender, age, your driving record, where you park your car, and sometimes even things like your credit score can all be taken into consideration. Both Electric and Esurance calculate prices using different factors, 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 a variety of different companies.

How do I know if Electric or Esurance is right for me?

The only way to find the car insurance carrier that's right for you is by getting quotes from several carriers 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 free quotes from dozens of the best auto insurance companies in your area. With those, you can guarantee you're getting the most affordable rate. And who knows, the best company for you might not be Electric or Esurance 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.