GEICO vs. Hallmark Financial: Which Company is the Best Fit for You?

Quick Facts

• In general, GEICO offers less expensive prices than Hallmark Financial
• GEICO offers more discounts than Hallmark Financial
• Hallmark Financial offers more affordable rates for residents in Arkansas, Nevada, and Oklahoma

GEICO vs. Hallmark Financial: 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 discounts. But exactly how much can you save by switching?

You've maybe even narrowed it down to GEICO or Hallmark Financial as your top options, but which one will save you the most?

Looking at the national average rates for both companies, GEICO is about $26 per month cheaper than Hallmark Financial.

However, that doesn't mean GEICO will necessarily be more affordable than Hallmark Financial for each driver. Car insurance carriers vary their prices depending on things like where you live, how clean your driving record is, how good your credit score is, how old you are, and a variety of other factors, so rates will vary quite a bit from person to person.

Wanting to know if GEICO or Hallmark Financial is really the right carrier for you? Keep on reading to see how average premiums can change based on all of the factors we've mentioned above.

GEICO or Hallmark Financial: Average Car Insurance Rates by State

GEICO and Hallmark Financial only compete against each other in three states, with GEICO offering less expensive prices to the average driver in all of them. If you live in Nevada, Hallmark Financial is the cheaper of the two companies when looking at the overall average rates. GEICO is the more affordable option in Arkansas and Oklahoma.

But there's more to auto insurance than just where you call home. As we mentioned above, there's a lot of things that go into how insurance carriers calculate your premiums. Keep reading to find out more.

Which is the Best Company For Young Drivers?

Teen drivers will almost always have the most expensive car insurance rates of any group out there on the road. Normally, that's because young, inexperienced drivers are statistically much more likely to cause collisions and other accidents that will result in an insurance claim.

But still, even with seemingly sky-high prices, teen drivers can still find ways to save money. As you can see above, teens who use GEICO save more than $100 a month compared to those who use Hallmark Financial. It's worth noting that GEICO offers auto insurance in 50 different states compared to Hallmark Financial's three, which can skew the average premiums a bit, but the difference here is still considerable.

That being said, both companies will offer you dramatically lower rates once you turn 25. Hallmark Financial offers the steepest reduction, with 25-year-olds paying less than a third of what 18-year-old drivers are charged. That being said, GEICO still has the cheapest premiums at $163 per month.

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 lowest prices you'll ever find.

So, which company offers the best rates to retired drivers? GEICO gets the slight edge here, with average premiums coming in at around $148 monthly compared to Hallmark Financial's $154. Even so, that difference is less than 5%, which means it ultimately will come down to other factors, such as your driving record is or your credit score.

Which is the Best Company for Married Drivers?

You may not be aware, but insurance prices tend to be cheaper for married drivers than they are for single policyholders. This usually boils down to married couples having multiple cars on their policy -- something several auto insurance carriers will reward with discounts.

When it comes to relationship status, GEICO is the clear winner for single drivers, with rates about $47 per month less expensive than Hallmark Financial, on average. It's not quite so glaring for married policyholders, where drivers who use Hallmark Financial save around $3 a month.

GEICO vs. Hallmark Financial: Average Rates by Gender

Did you know women typically pay less for car insurance than men? This is because women are less likely to get into collisions and get tickets, which decreases the chances of an insurance claim.

Generally, women see prices nearly $10 per month more affordable with GEICO, and about $20 less with Hallmark Financial.

Looking at overall affordability, GEICO offers the most affordable average premiums for both men and women, with average prices 14% less for men and 10% cheaper for women.

GEICO or Hallmark Financial: 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.

For most people, auto 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.

But most policies end up falling into two different types of coverage -- liability only (that covers property damage and bodily injury for other drivers if you cause an accident) and full coverage (which includes two additional coverages -- comprehensive and collision -- in addition to what you get with a liability policy).

If you're looking for state minimum liability insurance, GEICO generally offers cheaper premiums of $101 compared to Hallmark Financial's $115. When it comes to full coverage policies with similar limits, GEICO again has the edge, with policies around $35 a month more affordable than Hallmark Financial, on average.

Is GEICO or Hallmark Financial Better for Drivers with Spotty Records?

You've probably seen plenty of commercials from car 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.

Tickets and at-fault accidents will most likely raise your premiums, but is GEICO or Hallmark Financial less expensive for drivers with less-than-perfect records?

Which Company is Best for Drivers with Speeding Tickets?

GEICO policyholders can expect their prices to go up an average of $35 per month if they get a ticket, while Hallmark Financial usually raises rates about $14 a month, on average.

However, GEICO has cheaper prices for drivers in both categories. Drivers with a clean record can save around $79 per month and drivers with a speeding ticket can save about $58 a month with GEICO.

Which Company is Best for Drivers After an Accident?

GEICO drivers who get in a collision can expect to see their rates climb by just under 45%, while those who have insurance through Hallmark Financial will see around a 15% increase.

Overall, the more affordable premiums come from GEICO, with monthly rates averaging $200 compared to Hallmark Financial's $229.

Which Company is Best for Drivers with a DUI?

If you get a DUI charge, you can expect some pretty significant increases in your monthly auto insurance bill -- normally a lot more than an accident or ticket. On average, GEICO will climb your prices about 58% after a DUI, while Hallmark Financial's average premiums increase by just under 10%.

Hallmark Financial has the overall cheapest rates for drivers with a DUI on their records at $212 a month, but it's worth noting that GEICO's average rates come from 50 states compared to just three for Hallmark Financial, so the data may be skewed slightly.

How does Credit Score Impact GEICO and Hallmark Financial Rates?

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

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

So, which carrier offers the best prices for drivers with good, average, or poor credit?

Which Company is Best for Drivers with Good Credit?

If you have solid credit, you'll usually find a better deal with GEICO. Policyholders with "excellent" credit can save over 25% compared to Hallmark Financial, and those with "good" scores can also expect to see savings -- around $31 or 16% less expensive every month.

Which Company is Best for Drivers with Bad Credit?

GEICO typically offers lower premiums than Hallmark Financial when it comes to drivers with less-than-perfect credit. Drivers with "fair" credit pay about $12 per month less with GEICO compared to Hallmark Financial, and those with "poor" scores generally save an average of around $6 monthly.

Is GEICO or Hallmark Financial Better for Drivers who Work from Home or Have Short Commutes?

How much you drive can have a pretty big impact on your monthly insurance cost. That's because the more miles you drive, the more likely you are to get into a collision and cause an insurance claim.

As you can see in the table above, annual mileage doesn't have much of an impact on how much Hallmark Financial charges. However, there's a small difference in monthly prices for GEICO, with drivers who put 6,000 miles on their vehicle annually paying about $8 less each month compared to those who drive 12,000 miles yearly. Still, GEICO is the cheaper option for drivers in both categories.

GEICO vs. Hallmark Financial: Compare Rates for Urban, Suburban, and Rural Drivers

Where your home is can have a big impact on your monthly auto insurance bill. Usually, those who live in urban areas will pay more than drivers in rural areas because there are a lot more cars on the roads in those areas.

GEICO boasts the lowest average rates for drivers in every type of area, no matter if it's urban, suburban, or rural.

For policyholders in urban ZIP codes, GEICO offers prices around $211 a month compared to Hallmark Financial's $225. People who live in suburban ZIP codes can expect to pay about $185 a month for GEICO and $229 for Hallmark Financial. Lastly, those in rural areas tend to get the most affordable rates from both carriers, with average monthly premiums coming in at $159 and $178 for GEICO and Hallmark Financial respectively.

GEICO vs. Hallmark Financial Discounts

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

But with what seems like a million different discounts out there, it can be challenging 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.

Below, we've broken down all of the different discounts offered by both GEICO and Hallmark Financial so that you can easily see which company offers the most discounts and see which ones you might be able to take advantage of.

GEICO blows Hallmark Financial away when it comes to the sheer amount of discounts available, offering 28 different discounts to Hallmark Financial's four.

There are a couple discounts both companies offer, but GEICO also offers ABS discounts, anti-theft discounts, commercial drivers license discounts, and more that Hallmark Financial does not.

On the flip side, Hallmark Financial has a couple unique discounts of its own -- education discounts and foreign license discounts.

Final Thoughts: Is GEICO or Hallmark Financial Best for You?

You've seen the effect certain variables have on your auto insurance and the different discounts carriers offer. That's all well and good, but at the end of the day, which carrier is the right fit for you?

GEICO might be best for you if....

• You're single and purchasing car insurance by yourself.
• You already have a great credit score.
• You're buying auto insurance for a teen and looking for a wallet-friendly option.

Hallmark Financial might be best for you if...

• You like the personalized touch of a small, local company.
• You have a DUI charge on your record.
• You're married and plan to have both of your names on the vehicle's insurance policy.

We hope this guide has ben a valuable resource as you compare GEICO and Hallmark Financial. We also hope we've given you the information you need to make the best decision when it comes to your car 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 several companies, not just GEICO and Hallmark Financial. Luckily, sites like Compare.com make it easy for you to do just that. Simply enter your ZIP codes below and get multiple free quotes from some of the best car insurance carriers in your area, all in just a few minutes.

GEICO vs. Hallmark Financial FAQs

Is GEICO or Hallmark Financial cheaper?

Looking just at the national average prices, GEICO is the less expensive of the two companies, offering average rates of $185 per month compared to $211 for Hallmark Financial. Even so, GEICO won't necessarily be the cheapest carrier for everyone, since there are a bunch of different factors that are considered when it comes to your auto insurance payment.

Who is better, GEICO or Hallmark Financial?

Sadly, the answer truly is "it depends.". Neither company is "better" for everyone -- it all depends on the makeup of your unique car insurance profile. For example, Hallmark Financial offers more affordable rates for drivers with a recent DUI, while GEICO is less expensive for drivers with excellent credit.

Why do GEICO and Hallmark Financial offer me different rates?

Insurance carriers take a look at lots of different variables when determining the premiums they charge drivers. Things like gender, age, your driving record, where you park your vehicle, and sometimes even things like your credit score can all come into play. Both GEICO and Hallmark Financial calculate rates using different formulas, so each one will most likely offer different prices. The only real way to see which carrier is the most affordable for you is by comparing personalized quotes from a variety of different companies.

How do I know if GEICO or Hallmark Financial is right for me?

The only way to find the auto insurance company 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 area information and you'll get free quotes from dozens of the best car insurance companies in your area. That way, you can guarantee you're getting the lowest price. And who knows, the best carrier for you might not be GEICO or Hallmark Financial 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.