Fremont vs. Meemic: Which Company is the Best Fit for You?

Quick Facts

• Based on national averages for auto insurance, Meemic offers significantly less expensive premiums than Fremont
• Fremont may help you save more money -- they offer more discounts than Meemic Insurance Company
• Meemic offers more affordable rates for policyholders who drive fewer than 6,000 miles yearly

Fremont or Meemic: 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 Fremont or Meemic, but between the two, which one will offer you cheaper prices?

Looking at nationwide averages, Fremont is quite a bit more expensive than Meemic, with premiums averaging $562 a month compared to just $281 with Meemic.

However, that doesn't necessarily mean Meemic will be the more affordable option for each driver. After all, insurance carriers can offer drastically different rates to every driver depending on rating factors like where you call home, your age, your credit score, or even your driving record (among other things), so rates will change quite a bit from person to person.

Luckily, we've broken down average prices from both Fremont and Meemic by multiple different rate factors, so read on to find out which carrier is the best for you.

Fremont vs. Meemic: Average Car Insurance Rates by State

Both Fremont and Meemic only offer car insurance in Michigan, so you'll see that the average figures here will mirror the ones we mentioned above. Meemic drivers tend to pay about $281 per month less on average compared to drivers who use Fremont for their auto insurance.

Typically, the state you live in will play a huge role in how much you pay for insurance, but since both companies only do business in Michigan, many other variables will come into play when you compare Fremont and Meemic. Keep reading to find out more.

Which is the Best Company For Young Drivers?

Young drivers -- especially teens -- usually pay a lot for car insurance compared to older drivers. That's normally 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 auto insurance rates. As you can see above, teens who use Meemic save over 75% a month compared to those who use Fremont.

But both companies will decrease premiums by the time drivers turn 25. Meemic offers the steepest drop, with 25-year-olds paying a third less what 18-year-old drivers are charged. Fremont's average prices reduce more than 70% during that same period.

Which is the Best Company for Retired Drivers?

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

But who has the best premiums for retired drivers between Fremont and Meemic? Meemic gets the edge, with prices for drivers 65 and older almost 15% cheaper than the national average for Fremont.

Which is the Best Company for Married Drivers?

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

For single drivers, the difference in average premiums between these two companies is significant, with Meemic rates coming in at around half of Fremont's. For married couples, the advantage is clear again - Meemic has the edge when it comes to average premiums.

Fremont or Meemic: Average Rates by Gender

Did you know women tend to pay less for insurance than men? This is because men are statistically more likely than women to get speeding tickets and get into accidents, which leads to increased risk for insurers and, therefore, higher prices.

With Fremont, everyone ends up paying the same monthly premiums regardless of gender; women and men end up paying same monthly prices with Meemic.

Looking at overall affordability, Meemic offers the lowest average rates for both men and women, with average premiums 50% less for men and 50% cheaper for women.

Fremont vs. Meemic: 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 a complicated subject for most people. There are a bunch of different coverages that account for many different things. Some protect you and your car, while others only provide coverage for other people's property and health if you cause a collision.

Even so, the most common policies that drivers look at fall into two categories -- liability coverage (which covers the other party's property damage and injuries if you cause an accident) and full coverage (which generally refers to having collision and comprehensive coverages in addition to what you get with liability coverage).

Looking specifically at state minimum liability insurance, Meemic has the significant edge, with average monthly rates coming in at $201. If you want a full coverage policy with the same state minimum limits, Meemic again has the edge, with policies averaging about $361 per month to Fremont's $790.

Is Fremont or Meemic Better for Drivers with Spotty Records?

It's no secret -- drivers with good records end up getting the best deals on their 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 speeding tickets and collisions lead to higher prices, but which company -- Fremont or Meemic -- has the most affordable rates for drivers with spotty records?

Which Company is Best for Drivers with Speeding Tickets?

Policyholders who use Fremont for their car insurance can typically expect their monthly bill to go up around 38% after getting a speeding ticket. Meemic policyholders can expect a less drastic increase of about 36%.

But Meemic tends to offer the best prices for drivers both with clean records and with a ticket, offering premiums that are $49 and $87 more affordable, respectively, compared to Fremont Insurance.

Which Company is Best for Drivers After an Accident?

Both carriers will raise prices pretty significantly if you get into an at-fault collision with Fremont increasing by around 27%. Meemic has a less extreme raise, but you can still expect to pay nearly 30% more than you were prior to your first accident.

At the end of the day, Meemic offers the cheapest premiums for drivers with an at-fault collision on their records, with average prices coming in at $250 compared to Fremont Insurance's $307.

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 auto insurance bill. On average, Fremont will climb your rates about 83% after a DUI, while Meemic's average premiums climb by just under 60%.

But if you end up with a DUI charge and are looking for more affordable prices, Meemic tends to be less expensive for the average driver, with monthly premiums coming in at around $421 to Fremont's 1353.

How does Credit Score Impact Fremont and Meemic Rates?

Did you know many car insurance companies take into account your credit score when determining rates? Certain states and carriers do not allow for credit score to be used as an auto insurance factor, but it will come into play for many drivers.

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

Looking at Fremont and Meemic specifically, which carrier has the best 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 Fremont or Meemic 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 pretty big impact on how much car insurance carriers will charge for coverage? 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.

In this case, neither Fremont or Meemic report increasing prices for drivers with higher annual mileage figures. Still, Meemic comes out as the lowest for drivers at both intervals, whether they put 6,000 or 12,000 miles on their vehicle every year, with average rates of $281 a month for both.

Fremont or Meemic: Compare Rates for Urban, Suburban, and Rural Drivers

Where you call home can have a large impact on your monthly auto insurance payment. Usually, those who live in urban areas will pay more than drivers in rural areas since there are a lot more cars on the roads where they live.

When comparing these two companies side-by-side, Meemic generally comes out as the lowest option for drivers in every type of area, no matter if it's urban, suburban, or rural.

If you live in a rural area, you can expect to pay about $248 a month with Meemic compared to Fremont's $467. People in suburban areas pay around $273 with Meemic compared to Fremont's $536 monthly. For drivers in urban ZIP codes, Meemic's average rates are about $322 per month compared to Fremont's $682.

Fremont vs. Meemic Discounts

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

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

Luckily, we did the hard work for you and broke down all of the different discounts offered by both Fremont and Meemic so that you can easily see which company offers the most discounts and, therefore, the largest savings.

Fremont blows Meemic away when it comes to the sheer amount of discounts available, offering six more discounts than Meemic.

Both carriers offer lots of the same discounts -- like anti-theft discounts, discounts for being a defensive driver, and group discounts -- but Fremont also offers discounts for ABS, COVID-19 relief, garage discount, and more.

On the other hand, Meemic has a few proprietary discounts of their own like employee discounts and prior carrier discounts.

Final Thoughts: Is Fremont or Meemic Best for You?

So, you've seen how different factors can affect your auto insurance prices. We've shown you all the discounts each carrier offers, too. But, when it comes down to it, is Fremont or Meemic the right company for you and your specific profile and needs?

Meemic might be best for you if....

• You want to save money on your insurance after an accident.
• Your credit score is high.
• You have a short commute.

Fremont might be best for you if...

• You're looking for discounts -- Fremont has the most.

Hopefully, this guide helps you get a better idea of the difference between Fremont and Meemic and that it aids in making a more informed decision about 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 auto insurance -- comparing quotes from multiple companies, not just Fremont and Meemic. Luckily, sites like Compare.com make it easy for you to do just that. Simply enter your ZIP codes below and get free quotes from dozens of top insurance carriers in your area, all in just a few minutes.

Fremont vs. Meemic FAQs

Is Fremont or Meemic cheaper?

Meemic is the more affordable of the two companies when looking at national average premiums, with policies averaging $281 a month with Meemic and $562 for Fremont. However, that doesn't mean Meemic will be the most affordable company for everyone, since there are a range of different variables that come into play when it comes to your car insurance cost.

Who is better, Fremont or Meemic?

Unfortunately, the real answer is "it depends.". No single carrier is "better" for each policyholder -- it all depends on what your unique auto insurance profile looks like.

Why do Fremont and Meemic offer me different rates?

Insurance carriers use several different factors when calculating the rates they charge. Things such as gender, where you park your vehicle, your driving record, age, and sometimes even things like your credit score can all come into play. Both Fremont and Meemic use different formulas, so it's likely they'll offer different prices. The best way to determine which company is the lowest for you is by comparing personalized quotes from several different companies.

How do I know if Fremont or Meemic 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, Compare.com does all the hard work for you. Just enter your ZIP code and you'll get quotes from dozens of your local top insurance companies for free. That way, you can guarantee you're getting the most affordable price. And maybe you'll find that the best company for you isn't Fremont or Meemic 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.