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

Wondering if Electric or MMG is the best car insurance carrier for you, your vehicle, and your wallet? We've broken down all the premiums and discounts for both companies to help you make a more informed decision. Read on to learn more.
Newly insured car driving down the road
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Quick Facts

  • Looking at the national averages for insurance, MMG offers significantly more affordable rates than Electric
  • Electric may help you save more money -- they offer more discounts than MMG Insurance
  • MMG tends to be a much cheaper option for policyholders who drive a short distance to work everyday

Electric or MMG: Which Company has the Cheapest Car Insurance?

Are you in the market for a new insurance policy? After all, you've seen ads from all sorts of companies offering large savings. But exactly how much can you save by switching?

You might be considering Electric or MMG as potential options, but between the two, which one will save you the most?

Electric MMG

Looking at nationwide averages, MMG is quite a bit cheaper than Electric, with prices averaging $118 a month compared to $266 with Electric.

Even so, that doesn't necessarily mean MMG will be the less expensive option for every single driver. After all, auto insurance carriers can offer drastically different rates to every driver depending on rating factors like your age, your credit score, where you call home, or even your driving record (among other things), so premiums could differ drastically from person to person.

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

Electric vs. MMG: Average Car Insurance Rates by State

State Electric MMG

Electric and MMG only compete against each other in one states, with MMG offering more affordable prices to the average driver in all of them. Maine has the most noticable difference, where MMG premiums are $140 cheaper than car insurance prices at Electric.

There are plenty of other factors that go into your insurance cost than just where you call home. Continue reading to learn more about how other variables will affect your rates.

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Which is the Best Company For Young Drivers?

Electric MMG
18-year-old drivers$589$253
25-year-old drivers$274$123

Young drivers -- especially teens -- normally pay a lot for auto insurance compared to older drivers. That's usually 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 that teen drivers have to just accept sky-high car insurance rates. As you can see above, teens who use MMG save almost 55% per month compared to those who use Electric.

But both companies will lower prices by the time you turn 25. For example, average rates for Electric policyholders reduce nearly 55% and MMG's premiums decrease over 50% over that time.

Which is the Best Company for Retired Drivers?

Electric MMG
65+-year-old drivers$178$83

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

When looking at Electric and MMG specifically, which carrier is best for retired drivers? MMG gets the edge, with premiums for drivers 65 and older $95 less expensive than the national average for Electric.

Which is the Best Company for Married Drivers?

Electric MMG

Did you know that insurance prices are generally more expensive for single policyholders than they are for married policyholders? That's normally because married couples tend to own and insure more than one vehicle, which can often earn you a discount.

For those who are single, the difference in average premiums between these two carriers is significant, with MMG rates coming in at around half of Electric's. The advantage for married drivers with MMG is also obvious, where drivers save about $100 a month.

Electric or MMG: Average Rates by Gender

Electric MMG

You may not know, but car insurance is generally more expensive for men than for women. This is because men are statistically more likely than women to cause a collision and get into accidents, which leads to increased risk for insurers and, therefore, higher prices.

On average, men see rates around 7% per month higher with Electric, and almost 15% with MMG.

Looking at the data for each company specifically, MMG comes out as the most affordable option for both genders. On average, male drivers save about $149 a month and women save about $147 with MMG compared to the average Electric policyholder.

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Electric vs. MMG: Compare State Minimum vs. Full Coverage Rates

Electric MMG
State Minimum*$150$77
Full Coverage**$383$160

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

The two most common policies end up falling into two different types of coverage -- liability coverage (that covers bodily injury and property damage for other drivers and passengers if you cause a collision) and full coverage (which includes two additional coverages -- collision and comprehensive -- alongside liability).

Looking specifically at state minimum limits for liability insurance, MMG has the significant edge, with average monthly premiums coming in at $77. If you want a full coverage policy with the same state minimum limits, MMG again has the edge, with policies averaging around $160 per month to Electric's $383.

Is Electric or MMG Better for Drivers with Spotty Records?

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

It's no secret secret that at-fault collisions and speeding tickets lead to higher prices, but which carrier -- Electric or MMG -- has the cheapest premiums for drivers with less-than-perfect records?

Which Company is Best for Drivers with Speeding Tickets?

Electric MMG
Clean Record$208$90
1 Speeding Ticket$237$111

Policyholders who use Electric for their insurance can usually expect their monthly bill to go up about 12% after getting a speeding ticket. MMG policyholders can expect a bit more drastic of an increase of around 19%.

However, MMG has more affordable rates for drivers in both categories, offering premiums that are 57% and 53% cheaper, respectively, compared to Electric Insurance Company.

Which Company is Best for Drivers After an Accident?

Electric MMG
Clean Record$208$90
1 At-Fault Accident$236$122

Electric drivers who get in an accident can expect to see their rates rise by over 10%, while those who have insurance through MMG will see about a 25% increase.

At the end of the day, drivers who use MMG end up with the cheaper prices after an accident, with average prices coming in at $122 compared to Electric Insurance Company's $236.

Which Company is Best for Drivers with a DUI?

Electric MMG
Clean Record$208$90
1 DUI$385$151

On average, a DUI offense is going to cost you much more than a single collision or ticket when it comes to your car insurance bill. For example, Electric increases average premiums by nearly $200 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, MMG tends to be less expensive for the average driver, with monthly premiums coming in at around $151 to Electric's $385.

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How does Credit Score Impact Electric and MMG Rates?

Did you know many auto insurance companies take your credit score into account when determining prices? This isn't true for everyone (Massachusetts, for example, has banned the use of credit score as an insurance factor) but it does affect lots of policyholders out there.

Insurance carriers argue that those with good credit scores are more likely to pay their bills on time each month, which decreases the risk involved on their end, while the opposite is true for those with bad credit.

So, which company offers the best premiums for drivers with good, average, or poor credit?

Which Company is Best for Drivers with Good Credit?

Electric MMG
Excellent Credit Score$158$76
Good Credit Score$213$94

If you have a solid credit score, MMG will typically reward you the most. For policyholders with "excellent" credit scores, MMG comes in over 51.9 more affordable. Drivers with "good" credit scores normally save about 56% with MMG compared to average rates from Electric.

Which Company is Best for Drivers with Bad Credit?

Electric MMG
Fair Credit Score$267$118
Poor Credit Score$428$186

MMG typically offers lower prices than Electric when it comes to drivers with bad credit. Drivers with "fair" credit pay around 56% per month less with MMG compared to Electric, and those with "poor" scores generally save an average of about 57% monthly.

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Is Electric or MMG Better for Drivers who Work from Home or Have Short Commutes?

Electric MMG
6,000 Annual Miles$250$118
12,000 Annual Miles$283$118

Did you know that the amount of time you spend in your car have a large impact on your monthly premiums? That's because the fewer miles you put on your car each year, the less likely you are to be in a collision and file an insurance claim.

As you can see in the table above, annual mileage doesn't have much of an impact on how much MMG charges. However, there's a pretty significant difference in monthly rates for Electric, with policyholders who drive the least paying around $33 less every month compared to those who drive 12,000 miles each year. Still, for drivers in both categories, MMG is the cheaper carrier.

Electric or MMG: Compare Rates for Urban, Suburban, and Rural Drivers

Where you live can play a substantial role in how much you pay for auto insurance. Usually, if you live in a rural area with fewer cars on the road, you'll pay a little less for car insurance, while the opposite is true for people in urban areas.

Electric MMG
Urban Areas$304$120
Suburban Areas$234$131
Rural Areas$262$104

MMG boasts the cheapest average premiums for drivers in all areas, regardless of if they're urban, suburban, or rural.

Those in rural areas can expect to save about 60% with MMG compared to Electric. People who live in suburban areas pay around 44% less with MMG compared to Electric. For drivers in urban ZIP codes, MMG Insurance's average prices are about 61% less than Electric Insurance Company.

Electric vs. MMG 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.

The difficult part is finding all of the discounts you qualify for, 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 broke down all of the different discounts offered by both Electric and MMG so that you can see which carrier can save you the most money each month.

Electric MMG
ABS Discount 
Advance Quote Discount 
Anti-Theft Discount 
Covid-19 Relief Discount 
Defensive Driver Discount
Distant Student Discount 
Driver Training Discount 
Electric Vehicle Discount 
EZ-Pay Credit Discount 
Good Driving Discount 
Good Student Discount
Group Discount 
Hybrid Vehicle Discount 
Marital Status Discount 
Multi-Policy Discount
New Business Discount 
New Vehicle Discount 
Paid In Full Discount 
Passive Restraint Discount 
Referral Discount 

Electric blows MMG away when it comes to the sheer amount of discounts available, offering 17 different discounts to MMG's seven.

A couple of those are overlapping for things like discounts for being a defensive driver, discounts for being a good student, and multi-policy discounts. Electric also offers discounts for ABS, advance quote, anti-theft, and more.

On the other hand, MMG has a few proprietary discounts of their own for things like distant student discounts, ez-pay credit discounts, new business discounts, and more.

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Final Thoughts: Is Electric or MMG Best for You?

So, you've seen how different factors can affect your car insurance rates. We've shown you all the discounts each company offers, too. That's all well and good, but at the end of the day, is Electric or MMG the best company for you and your specific needs?

MMG might be best for you if....

  • You want to save money on your auto insurance after an accident.
  • Your credit score is high.
  • You're of retirement age and want to take advantage of lower prices.

Electric might be best for you if...

  • You're looking for the carrier with the most discounts.

Hopefully, this guide helps you get a good idea of the differences between Electric and MMG. We also hope we've given you the information you need to make the best 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 companies, not just Electric and MMG. Luckily, Compare.com does all the hard work for you. Just enter your ZIP code below and get multiple quotes from some of the best car insurance carriers in your area, all for free.

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Electric vs. MMG FAQs

Is Electric or MMG cheaper?

MMG is the less expensive of the two companies when looking at national average rates, with policies averaging $118 a month with MMG and $266 for Electric. That being said, that doesn't mean MMG will be the lowest company for every policyholder, since there are lots of different variables that come into play when it comes to your auto insurance payment.

Who is better, Electric or MMG?

Unfortunately, the only answer we can give you is "it depends.". No single carrier is "better" for everyone -- it all depends on what your unique car insurance profile looks like.

Why do Electric and MMG offer me different rates?

Insurance carriers use many different factors when calculating the premiums they charge. Variables like age, gender, where your home is, your driving record, and sometimes even things like your credit score can all be used. Both Electric and MMG calculate prices using different formulas, so it's likely they'll offer different rates. The best way to determine which company is the most affordable for you is by comparing personalized quotes from many different companies.

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

The only way to find the auto insurance carrier that's right for you is by getting quotes from a handful of carriers and finding the one best suited for your individual budget. Luckily, sites like Compare.com make it easy for you to do just that. Just enter your ZIP code and you'll get quotes from dozens of your local top car insurance companies for free. That way, you can guarantee you're getting the cheapest price. And maybe you'll find that the best company for you isn't Electric or MMG 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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