Electric vs. Main Street America: Which Company is the Best Fit for You?

How do Electric and Main Street America compare when it comes to auto insurance prices and discounts? If you want to find out which carrier has the best premiums for your unique profile, check out our latest guide below.
Newly insured car driving down the road
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Quick Facts

  • Based on national averages for car insurance, Main Street America offers more affordable rates than Electric
  • Main Street America tends to be a much cheaper option for drivers with a DUI
  • Main Street America offers more affordable prices for policyholders who have a clean record

Electric or Main Street America: 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 hefty savings. But exactly how much can you save by switching?

You might have narrowed your search down to Electric or Main Street America, but between the two, which carrier will offer you less expensive rates?

Electric Main Street America

Looking at the national average rates for both carriers, Electric has average rates that are around 15% a month more expensive than those from Main Street America.

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

Wanting to know if Electric or Main Street America is really the right carrier for you? Keep on reading to see how average rates can change based on all of the factors we've mentioned above.

Electric vs. Main Street America: Average Car Insurance Rates by State

State Electric Main Street America

Electric and Main Street America only compete against each other in one states, with Main Street America offering less expensive prices to the average driver in all of them. Virginia has the most noticable difference, where Main Street America premiums are $151 cheaper than auto insurance prices at Electric.

There are plenty of other factors that go into your car insurance payment than just where you call home. Keep reading to learn more.

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Which is the Best Company For Young Drivers?

Electric Main Street America
18-year-old drivers$589$477
25-year-old drivers$274$219

Young drivers -- especially teens -- typically pay a lot for auto insurance compared to older drivers. Normally, that's because teen drivers are statistically much more likely to cause collisions and other accidents that will result in an insurance claim.

That being said, that doesn't mean that teen drivers have to just accept sky-high car insurance rates. For example, 18-year-old drivers pay an average of over 20% less per month by choosing Main Street America over Electric.

Even so, both carriers will lower premiums once you turn 25. Main Street America offers the steepest reduction, with 25-year-olds paying less than half what 18-year-old drivers are charged. Electric's average rates decrease almost 55% during that same period.

Which is the Best Company for Retired Drivers?

Electric Main Street America
65+-year-old drivers$178$181

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

But who has the best premiums for retired drivers between Electric and Main Street America? In this case, Electric has the slight edge, with prices about $3 a month less than Main Street America. But the difference is only around 5%, so other variables will likely come into play when determining which company has the cheapest premiums for you.

Which is the Best Company for Married Drivers?

Electric Main Street America

You may not be aware, but auto insurance rates tend to be more expensive for single drivers than they are for married couples. That's because policies for married policyholders generally cover more than one vehicle, which quite a few companies will give you a discount for.

For single policyholders, the difference in average prices between these two carriers is significant, with Main Street America premiums coming in at about 15% less than Electric's. The advantage for married drivers with Main Street America is also obvious, where drivers save around $25 per month.

Electric or Main Street America: Average Rates by Gender

Electric Main Street America

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

With Electric, women usually pay about $20 a month less than men, but surprisingly, with Main Street America, women usually pay around $6 per month more than men.

When it comes to the most affordable rates for each gender, Main Street America comes out as the lowest option for both genders, with average premiums 19% less for men and 11% cheaper for women.

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Electric vs. Main Street America: Compare State Minimum vs. Full Coverage Rates

Electric Main Street America
State Minimum*$150$159
Full Coverage**$383$295

*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, car insurance isn't the easiest topic to understand. Everyone needs insurance, but there are so many different terms and limits that it can be hard to find the right policy for you.

However, the most common policies that drivers look at fall into two categories -- liability coverage (which covers the other party's injuries and property damage if you cause a collision) and full coverage (which includes two additional coverages -- collision and comprehensive -- in addition to what you get with liability coverage).

When it comes to state minimum liability limits, Electric has the edge, while Main Street America offers the most affordable average rates for full coverage policies with similar coverage limits. Policyholders looking for basic state minimum coverage can save around $10 with Electric Insurance Company, while full coverage comes out to be about $90 less expensive with Main Street America Insurance.

Is Electric or Main Street America Better for Drivers with Spotty Records?

You've probably seen plenty of commercials from car insurance companies offering great prices for good drivers, but that doesn't mean people with less-than-perfect driving records can't save money, too.

Collisions and speeding tickets will most likely raise your premiums, but is Electric or Main Street America cheaper for drivers with less-than-perfect records?

Which Company is Best for Drivers with Speeding Tickets?

Electric Main Street America
Clean Record$208$175
1 Speeding Ticket$237$236

Drivers who use Electric for their auto insurance can typically expect their monthly bill to go up around 12% after getting a speeding ticket. Main Street America policyholders can expect a bit more drastic of an increase of about 26%.

That being said, Main Street America has more affordable prices for drivers in both categories, offering rates that are 16% and 0% less expensive, respectively, compared to Electric Insurance Company.

Which Company is Best for Drivers After an Accident?

Electric Main Street America
Clean Record$208$175
1 At-Fault Accident$236$215

After an accident, drivers who have their insurance through Electric can expect to see around an $28 -- or about 12% -- rise in their car insurance prices. Drivers who use Main Street America for their auto insurance will see a monthly bill around $40 (or 19%) more expensive after reporting an accident to their insurance carrier.

At the end of the day, Main Street America offers the cheapest rates for drivers with an at-fault collision on their records, with average premiums coming in at $215 compared to Electric Insurance Company's $236.

Which Company is Best for Drivers with a DUI?

Electric Main Street America
Clean Record$208$175
1 DUI$385$283

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. Electric drivers usually see a 46% raise in their auto insurance prices after a DUI charge, while Main Street America will generally increase rates by about 38%.

But if you end up with a DUI charge and are looking for more affordable premiums, Main Street America tends to be cheaper for the average driver, with monthly premiums coming in at around $283 to Electric's $385.

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How does Credit Score Impact Electric and Main Street America Rates?

Often times, your credit score can be used as one of the factors to determine your monthly car insurance prices. This isn't true for everyone (Massachusetts, for example, has banned the use of credit score as a car insurance factor) but it will come into play for a lot of policyholders.

Insurance carriers argue that someone with bad credit is less likely to pay their bills on time, which makes them riskier to insure. Because of that, drivers with bad credit will often be forced to pay more.

Looking specifically at Main Street America and Electric, which company has the best premiums for policyholders at different credit levels?

Which Company is Best for Drivers with Good Credit?

Electric Main Street America
Excellent Credit Score$158$109
Good Credit Score$213$137

If you have solid credit, Main Street America will normally reward you the most. For drivers with "excellent" credit scores, Main Street America comes in more than 31.01 more affordable. Drivers with "good" credit scores usually save about 36% with Main Street America compared to average rates from Electric.

Which Company is Best for Drivers with Bad Credit?

Electric Main Street America
Fair Credit Score$267$179
Poor Credit Score$428$484

If you have less-than-stellar credit, it can be somewhat of a toss-up as far as which company offers you the best prices. Drivers with "fair" credit pay around 33% less with Main Street America than Electric, but those whose credit is considered "poor" have it flipped -- saving about 12% a month with Electric.

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Is Electric or Main Street America Better for Drivers who Work from Home or Have Short Commutes?

Electric Main Street America
6,000 Annual Miles$250$225
12,000 Annual Miles$283$229

Did you know that the amount of time you spend in your car have a considerable impact on how much car insurance companies will charge for coverage? Generally, the more milage you put on your car, the more you can expect to pay for auto insurance.

Main Street America tends to be the less expensive option for both remote workers and those taking short commutes. Electric's average rates for drivers with 6,000 annual miles come in 10% more expensive than Main Street America. Those who drive 12,000 miles yearly can expect to pay nearly 20% more with Electric over Main Street America.

Electric or Main Street America: 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 car insurance, but the type of area you live in can have a big impact as well. Typically, if you live in an urban area with more cars on the road, you'll pay a little more for insurance, while the opposite is true for people in rural areas.

Electric Main Street America
Urban Areas$304$264
Suburban Areas$234$230
Rural Areas$262$188

Main Street America boasts the most affordable average premiums for drivers in all areas, regardless of if they're urban, suburban, or rural.

Those in rural areas can expect to save around $74 with Main Street America compared to Electric. People who live in suburban areas pay about $4 less with Main Street America compared to Electric. For policyholders in urban ZIP codes, Main Street America Insurance's average rates are around $40 less than Electric Insurance Company.

Electric vs. Main Street America Discounts

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

But where do you even start? With what seems like a million different discounts out there, it may be challenging to find all the ones you're eligible for.

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

Electric Main Street America
ABS Discount
Advance Quote Discount 
Anti-Theft Discount
Covid-19 Relief Discount 
Defensive Driver Discount
Distant Student Discount 
Driver Training Discount
DRL Discount 
EFT Discount 
Electric Vehicle Discount 
Good Driving Discount
Good Payer Discount 
Good Student Discount
Group Discount 
Hybrid Vehicle Discount 
Marital Status Discount 
Mature Driver Discount 
Multi-Car Discount 
Multi-Policy Discount
New Business Discount 

Looking at the total number of discounts, Main Street America has a slight advantage when it comes to total number of discounts. Electric offers a grand total of 17 discounts, while Main Street America has 18.

Both carriers offer several of the same discounts -- like anti-theft discounts, discounts for getting driver training, discounts for being a good driver, and new vehicle discounts -- but Main Street America also offers discounts for distant student, DRL, EFT, and more.

On the other hand, Electric has a few proprietary discounts of their own for things like advance quote discounts, COVID-19 relief discount, electric vehicle discounts, and more.

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Final Thoughts: Is Electric or Main Street America Best for You?

You've seen the role certain variables have on your car insurance and the different discounts companies offer. But, at the end of the day, which insurance company is the best carrier for you and your specific needs?

Main Street America might be best for you if....

  • You've been pulled over for speeding recently.
  • You're looking for discounts -- Main Street America has the most.
  • You want to save money while purchasing auto insurance for a teenager.

Electric might be best for you if...

  • You're looking for the best prices on liability only coverage.
  • You're of retirement age and want to take advantage of lower premiums.

Hopefully, this guide has ben a valuable resource as you compare Electric and Main Street America and that you can now make a more informed decision when it comes to 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 insurance -- comparing quotes from several carriers, not just Electric and Main Street America. Luckily, Compare.com does all the hard work for you. Just enter your ZIP code below and get multiple free quotes from some of the best auto insurance companies in your area, all in just a few minutes.

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Electric vs. Main Street America FAQs

Is Electric or Main Street America cheaper?

Main Street America is the more affordable of the two carriers when looking at national average prices, with policies averaging $227 per month with Main Street America and $266 for Electric. But that doesn't mean Main Street America will be the cheapest carrier for every policyholder, since there are several different factors that come into play when it comes to your insurance cost.

Who is better, Electric or Main Street America?

Unfortunately, the answer truly is "it depends.". No one company is "better" for everyone -- it all comes down to what your unique auto insurance profile looks like. For example, Electric is cheaper for drivers who have already retired, while Main Street America offers less expensive rates for single drivers.

Why do Electric and Main Street America offer me different rates?

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

How do I know if Electric or Main Street America is right for me?

The only way to find the insurance company 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, 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 auto insurance carriers for free. That way, you can guarantee you're getting the most affordable rate. And maybe you'll find that the best carrier for you isn't Electric or Main Street America at all, but another you hadn't even thought of!


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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