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

Quick Facts

• In general, Hallmark Financial offers significantly cheaper premiums than Key
• Hallmark Financial has less expensive rates for policyholders who drive fewer than 6,000 miles annually
• Hallmark Financial offers more affordable average premiums for policyholders who live in rural neighborhoods

Hallmark Financial or Key: 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 Hallmark Financial or Key as your top options, but which one will offer you less expensive prices?

Looking at the national average rates for both carriers, Hallmark Financial has average rates that are around 25% a month more affordable than those from Key.

But that doesn't mean Hallmark Financial will necessarily be cheaper than Key for every single driver. Auto insurance companies vary their rates depending on things like how clean your driving record is, where you live, how old you are, how good your credit score is, and a variety of other factors. So, at the end of the day, prices from every carrier will differ quite a bit from person to person.

Wanting to know if Hallmark Financial or Key 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.

Hallmark Financial vs. Key: Average Car Insurance Rates by State

Hallmark Financial and Key only compete against each other in Nevada, where Hallmark Financial offers the cheaper average premiums. Hallmark Financial drivers tend to pay about $162 per month less on average compared to drivers who use Key for their insurance.

There are plenty of other factors that go into your car insurance cost than just where you call home. Read on to learn more.

Which is the Best Company For Young Drivers?

Young drivers -- especially teens -- normally pay a lot for auto insurance compared to older drivers. That's typically because teen drivers are statistically much more likely to get into accidents since they have less experience on the roads.

Even so, that doesn't mean teen drivers can't still save money on their insurance. Just look at the table above -- where 18-year-old drivers who have Hallmark Financial for their auto insurance pay over 30% less than those who use Key.

That being said, with both carriers, you'll see your prices decrease significantly by the time you turn 25. Key offers the steepest reduction, with 25-year-olds paying less than a third of what 18-year-old drivers are charged. That being said, Hallmark Financial still has the cheapest rates at $184 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 most affordable premiums you can find.

When looking at Hallmark Financial and Key specifically, which carrier is best for retired drivers? Hallmark Financial gets the edge here, with average rates coming in at about $154 monthly compared to Key's $223.

Which is the Best Company for Married Drivers?

You may not be aware, but auto insurance prices tend to be more affordable for married drivers than they are for those who are single. That's generally because married policyholders tend to own and insure multiple vehicles, which can often earn you a discount.

For single policyholders, the difference in average premiums between these two companies is significant, with Hallmark Financial prices coming in at a quarter less than Key's. The advantage for married couples with Hallmark Financial is also obvious, where drivers save around $55 a month.

Hallmark Financial or Key: Average Rates by Gender

You may not know, but insurance is usually cheaper for women than it is for men. This is because men are statistically more likely than women to get pulled over for speeding or get into a collision, which leads to increased risk for insurers and, therefore, higher premiums.

Normally, men see rates almost 10% per month higher with Hallmark Financial, but with Key, the difference is closer to 17% a month.

When it comes to the cheapest premiums for each gender, Hallmark Financial comes out on top for both men and women, with average rates 29% less for men and 22% cheaper for women.

Hallmark Financial vs. Key: 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 car insurance can be a complicated subject for most people. There are a variety of different coverages that account for lots of different things. Some protect you and your car, while others only provide coverage for other people's property and health if you cause an accident.

The two most common policies end up falling into two different types of coverage -- liability coverage (which covers the other party's property damage and injuries if you cause a collision) and full coverage (which includes collision and comprehensive coverages that protect your own car, alongside liability).

Looking specifically at state minimum limits for liability insurance, Hallmark Financial has the significant edge, with average monthly prices coming in at $115. If you want a full coverage policy with the same state minimum limits, Hallmark Financial again has the edge, with policies averaging about $306 per month to Key's $373.

Is Hallmark Financial or Key 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 at-fault collisions and speeding tickets lead to higher rates, but which company -- Hallmark Financial or Key -- has the lowest premiums for drivers with less-than-perfect records?

Which Company is Best for Drivers with Speeding Tickets?

Policyholders with Key car insurance policies don't report seeing their prices increase after getting a ticket, but Hallmark Financial policyholders can expect to see their monthly bill increase by around $15.

However, Hallmark Financial has cheaper rates for drivers in both categories, offering premiums that are 8% and 1% less expensive, respectively, compared to Key Insurance Company.

Which Company is Best for Drivers After an Accident?

Hallmark Financial drivers who get in an accident can expect to see their prices rise by $35, while those who have insurance through Key will see about a $25 increase.

At the end of the day, the cheaper rates come from Hallmark Financial, with average prices coming in at $229 compared to Key Insurance Company's $235.

Which Company is Best for Drivers with a DUI?

On average, a DUI offense is going to cost you much more than a single collision or speeding ticket when it comes to your auto insurance bill. For example, Key increases average premiums by more than $250 a month -- that's more than a 55% increase.

But if you end up with a DUI charge and are looking for more affordable prices, Hallmark Financial tends to be more affordable for the average driver, with monthly premiums coming in at around $212 to Key's $483.

How does Credit Score Impact Hallmark Financial and Key Rates?

Did you know many insurance carriers take into account your credit score when determining rates? This isn't true for everyone (California, for example, has banned the use of credit score as an insurance factor) but it might come into play for lots of policyholders.

Car insurance companies 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 Key and Hallmark Financial, which company has the best premiums for policyholders at different credit levels?

Which Company is Best for Drivers with Good Credit?

If you have great credit, Hallmark Financial will typically reward you the most. For drivers with "excellent" credit scores, Hallmark Financial comes in over 36.84 less expensive. Drivers with "good" credit scores generally save about 32% with Hallmark Financial compared to average prices from Key.

Which Company is Best for Drivers with Bad Credit?

Hallmark Financial typically offers lower premiums than Key when it comes to drivers with less-than-perfect credit. Drivers with "fair" credit pay around 27% per month less with Hallmark Financial compared to Key, and those with "poor" scores usually save an average of about 9% a month.

Is Hallmark Financial or Key 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 sizable impact on your monthly rates? Normally, those who drive fewer miles will end up with cheaper premiums since there's less of a chance of causing a collision and filing an insurance claim.

In this case, neither Hallmark Financial or Key report increasing prices for drivers with higher annual mileage figures. Even so, Hallmark Financial comes out as the most affordable for drivers at both intervals, whether they put 6,000 or 12,000 miles on their vehicle each year, with average rates of $211 a month for both.

Hallmark Financial or Key: Compare Rates for Urban, Suburban, and Rural Drivers

Where you live can play a big role in how much you pay for auto insurance. Generally, 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.

When comparing these two carriers side-by-side, Hallmark Financial normally comes out as the cheapest option for drivers in all areas, regardless of if they're urban, suburban, or rural.

Those in rural areas can expect to save around 24% with Hallmark Financial compared to Key. People who live in suburban areas pay about 2% less with Hallmark Financial compared to Key. For policyholders in urban ZIP codes, Hallmark Financial's average prices are around 42% less than Key Insurance Company.

Hallmark Financial vs. Key Discounts

No matter why you might be in the market for a new 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 utilizing as many auto 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 qualify for.

Luckily, we did the hard work for you and compared all of the different discounts offered by Hallmark Financial and Key so that you can easily see which company offers the most discounts and, therefore, the largest savings.

You can find offers for discounts for being a defensive driver and passive restraint discounts from both companies.

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

You've seen the role certain variables have on your insurance and the different discounts carriers offer. That's all well and good, but when it comes down to it, is Hallmark Financial or Key the best fit for you?

Hallmark Financial might be best for you if....

• You have an at-fault accident on your record.
• Your neighborhood is in a city.
• You're of retirement age and want to take advantage of lower rates.

Key might be best for you if...

• You have a more unique driver profile than those we mentioned above.

Hopefully, this guide has ben a valuable resource as you compare Hallmark Financial and Key and that you can now make a more informed decision when it comes to your auto insurance.

At the end of the day, the sure-fire way to make sure you're getting the best deal on your car insurance policy is to compare quotes from a handful of companies, not just Hallmark Financial and Key. Luckily, sites like Compare.com do all the hard work for you. Simply enter your ZIP codes below and get multiple quotes from some of the best auto insurance carriers in your area, all for free.

Hallmark Financial vs. Key FAQs

Is Hallmark Financial or Key cheaper?

Hallmark Financial is the more affordable of the two companies when looking at national average premiums, with policies averaging $211 per month with Hallmark Financial and $285 for Key. But that doesn't mean Hallmark Financial will be the lowest carrier for every driver, since there are several different factors that come into play when it comes to your car insurance bill.

Who is better, Hallmark Financial or Key?

Unfortunately, the answer truly is "it depends.". Neither company is necessarily "better" for everyone -- it all depends on what your unique insurance profile looks like.

Why do Hallmark Financial and Key offer me different rates?

Car insurance carriers use quite a few different variables when calculating the prices they charge. Things such as where you call home, gender, age, where you park your car, and sometimes even things like your credit score can all come into play. Both Hallmark Financial and Key calculate rates differently, so it's likely they'll offer different premiums. The best way to determine which carrier is the most affordable for you is by comparing personalized quotes from a range of different companies.

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

The only way to find the auto insurance company that's right for you is by getting quotes from several 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 quotes from dozens of your local top insurance companies for free. That way, you can guarantee you're getting the best price. And maybe you'll find that the best carrier for you isn't Hallmark Financial or Key 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.