Equity vs. Trexis: Which Company is the Best Fit for You?

Quick Facts

• Based on national averages for car insurance, Equity offers significantly more affordable premiums than Trexis
• Equity tends to be a much less expensive option for policyholders who drive fewer than 6,000 miles every year
• Trexis may help you save more money -- they offer more discounts than Equity Insurance Company

Equity or Trexis: Which Company has the Cheapest Car Insurance?

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

You might be considering Equity or Trexis, but between the two, which one will offer you cheaper prices?

Looking at nationwide averages, Trexis has average rates that are around 25% a month more expensive than those from Equity.

However, Equity may not be the most affordable or best option for every driver out there. After all, auto insurance carriers can offer drastically different rates to each driver depending on rating factors like your age, your credit score, where you call home, or even your driving record (among other things), so rates will change quite a bit from person to person.

So, if you want to find out which of Equity or Trexis is really the best for you, keep reading to see average premiums for each company broken down by many different rate factors.

Equity vs. Trexis: Average Car Insurance Rates by State

Equity and Trexis only compete against each other in one states, with Trexis offering less expensive rates to the average driver in all of them. Arkansas has the most noticable difference, where Trexis premiums are $51 cheaper than insurance prices at Equity.

There are plenty of other factors that go into your car insurance payment than just the state you live in. Read on to learn more.

Which is the Best Company For Young Drivers?

Young drivers -- especially teens -- usually pay a lot for auto insurance compared to older drivers. That's generally because teen drivers are statistically much more likely to get into an accident that results in a car insurance claim, making them much riskier to insure.

But that doesn't mean teen drivers can't still save money on their car insurance. As you can see above, teens who use Equity save almost 30% per month compared to those who use Trexis.

That being said, with both companies, you'll see your rates lower significantly by the time you turn 25. For example, average premiums for Equity policyholders decrease nearly 60% and Trexis's prices reduce almost 65% over that time.

Which is the Best Company for Retired Drivers?

Drivers around retirement age normally enjoy some of the lowest auto insurance premiums you'll ever see. After all, they've likely been driving for quite some time, which typically reduces their chances of collisions and other infractions that can raise prices.

But who has the best rates for retired drivers between Equity and Trexis? Equity gets the edge, with premiums for drivers 65 and older over 25% more affordable than the national average for Trexis.

Which is the Best Company for Married Drivers?

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

For those who are single, the difference in average rates between these two companies is significant, with Equity prices coming in at a quarter less than Trexis's. For married drivers, the advantage is clear again - Equity has the edge when it comes to average rates.

Equity or Trexis: Average Rates by Gender

Did you know men tend to pay more for car insurance than women? That's because women are less likely to get tickets and get into accidents, which lowers the chances of filing a claim with insurance.

On average, women see premiums about $20 a month less expensive with Equity, and around $20 less with Trexis.

Looking at the data for each carrier specifically, Equity comes out as the cheapest option for both genders. On average, male drivers save about $55 per month and women save about $56 with Equity compared to the average Trexis policyholder.

Equity vs. Trexis: 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 auto insurance can be pretty complicated. There are so many different terms and limits that it can make it pretty confusing to find the right policy for you.

The two most common policies that drivers look at fall into two categories -- liability coverage (that covers property damage and bodily injury for other drivers and their passengers 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).

Looking specifically at state minimum liability insurance, Equity has the significant edge, with average monthly prices coming in at $67. If you want a full coverage policy with the same state minimum limits, Equity again has the edge, with policies averaging around $262 a month to Trexis's $333.

Is Equity or Trexis Better for Drivers with Spotty Records?

You've probably seen plenty of commercials from insurance carriers offering great premiums 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 accidents and speeding tickets lead to higher rates, but which company -- Equity or Trexis -- has the lowest premiums for drivers with less-than-perfect records?

Which Company is Best for Drivers with Speeding Tickets?

Policyholders who use Equity for their auto insurance can normally expect their monthly bill to go up about 4% after getting a speeding ticket. Trexis policyholders can expect a bit more drastic of an increase of around 19%.

Even so, Equity tends to offer the best prices for both drivers who have clean records and those with a recent ticket, offering prices that are 15% and 29% cheaper, respectively, compared to Trexis Insurance.

Which Company is Best for Drivers After an Accident?

Both companies will increase rates pretty significantly if you get into an at-fault collision with Trexis raising by about 26%. Equity has a less extreme climb, but you can still expect to pay nearly 15% more than you were prior to your first accident.

At the end of the day, Equity offers the most affordable premiums for drivers with an at-fault collision on their records, with average prices coming in at $179 compared to Trexis Insurance's $247.

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 speeding ticket when it comes to your insurance bill. For example, Trexis increases average rates by nearly $45 per month -- that's just under a 20% increase.

But if you end up with a DUI charge and are looking for more affordable prices, Equity tends to be more affordable for the average driver, with monthly premiums coming in at around $166 to Trexis's $226.

How does Credit Score Impact Equity and Trexis Rates?

You may not realized it, but your credit score can be used as one of the variables to determine your monthly car insurance rates. This isn't true for everyone (for example, Hawaii and Massachusetts are two states that ban the practice entirely), but it will come into play for several drivers.

Auto insurance carriers argue that those with poor credit scores are less likely to pay their bills on time every month, which raises the risk involved on their end, while the opposite is true for those with good credit.

Looking at Equity and Trexis specifically, which company has the cheapest 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 Equity or Trexis 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 considerable impact on your monthly prices? That's because the more milage you put on your car each year, the more likely you are to be in an accident and file an insurance claim.

In this case, neither Equity or Trexis report increasing rates for drivers with higher annual mileage figures. Even so, Equity comes out as the lowest for drivers at both intervals, whether they put 6,000 or 12,000 miles on their vehicle yearly, with average premiums of $165 a month for both.

Equity or Trexis: 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 substantial impact as well. Usually, drivers who live in heavily-populated urban areas will pay quite a bit more than rural policyholders since there are a lot more cars on the road where they live, which increases the chances of an accident.

Equity boasts the cheapest average premiums for drivers in all types of areas, no matter if they're urban, suburban, or rural.

Those in rural areas can expect to pay about $143 a month with Equity compared to Trexis's $167. People in suburban areas pay a monthly premium of around $158 with Equity compared to $223 with Trexis. For drivers in urban ZIP codes, Equity's average prices are about $192 while Trexis offers rates around $270.

Equity vs. Trexis 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.

But with what seems like a million different discounts out there, it can be hard to nail down the company that has the most discounts for your unique driver profile and to find all the discounts you're eligible for.

Luckily, we did the hard work for you and looked at all of the different discounts Equity and Trexis offer their customers so that you can find the one that has the most discounts and, therefore, the largest savings.

Trexis knocks Equity out of the park when it comes to the sheer number of discounts available, offering six more discounts than Equity.

There are a couple discounts both companies offer, but Trexis also offers discounts for advance quote, EFT, life policy, and more.

Equity's discounts come through just a few categories, including Agency Transfer, Defensive Driver, Driver Training, and more.

Final Thoughts: Is Equity or Trexis Best for You?

You've seen the role certain factors have on your insurance and the different discounts carriers offer. That's all well and good, but at the end of the day, is Equity or Trexis the right company for you, your vehicle, and your wallet?

Equity might be best for you if....

• You're worried about the impact your credit score will have on your premiums.
• You're looking for the best prices on liability only coverage.
• You and your spouse are buying car insurance together.

Trexis might be best for you if...

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

Hopefully, this guide has ben a valuable resource as you compare Equity and Trexis. We also hope we've given you the information you need to make the best 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 Equity and Trexis. Luckily, Compare.com makes it easy for you to do just that. Simply enter your ZIP codes below and get free quotes from dozens of top auto insurance carriers in your area, all in just a few minutes.

Equity vs. Trexis FAQs

Is Equity or Trexis cheaper?

Equity is the cheaper of the two companies when looking at national average premiums, with policies averaging $165 per month with Equity and $220 for Trexis. That being said, that doesn't mean Equity will be the most affordable company for each driver, since there are multiple different variables that come into play when it comes to your car insurance cost.

Who is better, Equity or Trexis?

Unfortunately, the only answer we can give you is "it depends.". Neither carrier is necessarily "better" for every policyholder -- it all boils down to your unique auto insurance profile.

Why do Equity and Trexis offer me different rates?

Insurance carriers use quite a few different factors when determining the prices they charge. Variables like age, gender, your driving record, where you live, and sometimes even things like your credit score can all be used. Both Equity and Trexis use different formulas, so it's likely they'll offer different rates. The best way to determine which company is the cheapest for you is by comparing personalized quotes from lots of different companies.

How do I know if Equity or Trexis 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 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 area information and you'll get quotes from dozens of your local top auto insurance companies for free. With those, you can guarantee you're getting the lowest price. And maybe you'll find that the best company for you isn't Equity or Trexis 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.