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

Quick Facts

• Based on national averages for insurance, Hallmark Financial offers more affordable premiums than Mendakota
• Hallmark Financial tends to be a much less expensive option for drivers with a DUI
• Mendakota has cheaper prices for policyholders who live in rural neighborhoods

Hallmark Financial or Mendakota: Which Company has the Cheapest Car Insurance?

Are you in the market for a new insurance policy? You've probably seen commercials and billboards from companies offering huge savings, but exactly how much money can you save by switching?

You've maybe even narrowed your search down to Hallmark Financial or Mendakota as potential options, but between the two, which one will save you the most?

Looking at nationwide averages, Hallmark Financial has average rates that are around 14% a month less expensive than those from Mendakota.

Even so, Hallmark Financial may not be the most affordable or best option for each driver out there. Auto insurance carriers use all sorts of complex algorithms to determine premiums, so depending on how clean your driving record is or where you live (among a wide array of other factors), you could see wildly different rates from the ones above.

So, if you want to find out which of Hallmark Financial or Mendakota is really the best for you, keep reading to see average prices for each carrier broken down by multiple different rate factors.

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

Hallmark Financial and Mendakota only compete against each other in Nevada, where Hallmark Financial offers the cheaper average premiums. Hallmark Financial drivers tend to pay about $121 per month less on average compared to drivers who use Mendakota for their car insurance.

But there's more to insurance than just where you live. As we mentioned above, there's a lot of things that go into how auto insurance companies calculate your prices. Keep reading to learn more.

Which is the Best Company For Young Drivers?

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

However, that doesn't mean teen drivers can't still save money on their car insurance. As you can see above, teens who use Mendakota save over 5% a month compared to those who use Hallmark Financial.

That being said, both carriers will offer you dramatically lower rates by the time you turn 25. Mendakota offers the steepest reduction, with 25-year-olds paying less than half what 18-year-old drivers are charged. That being said, Hallmark Financial still has the cheapest premiums at $184 monthly.

Which is the Best Company for Retired Drivers?

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

But who has the best premiums for retired drivers between Hallmark Financial and Mendakota? Hallmark Financial gets the edge here, with average rates coming in at about $154 per month compared to Mendakota's $187.

Which is the Best Company for Married Drivers?

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

For single policyholders, the difference in average rates between these two companies is not very significant, with Hallmark Financial prices coming in at around 6% less than Mendakota's. But for married drivers, the advantage is clear - Hallmark Financial has the edge when it comes to average premiums.

Hallmark Financial or Mendakota: Average Rates by Gender

You may not know, but auto insurance is generally cheaper for women than it is for men. This is because men are statistically more likely than women to get into collisions and file an insurance claim, which leads to increased risk for insurers and, therefore, higher prices.

On average, men see rates almost 10% per month higher with Hallmark Financial, and about 7% with Mendakota.

Looking at the data for each company specifically, Hallmark Financial comes out as the cheapest option for both genders. On average, male drivers save about $32 a month and women save around $34 with Hallmark Financial compared to the average Mendakota policyholder.

Hallmark Financial vs. Mendakota: 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, car insurance can be pretty complicated. There are so many different coverages and terms that it can make it pretty confusing to find the right policy for you.

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

Looking specifically at state minimum limits for liability insurance, Hallmark Financial has the significant edge, with average monthly premiums 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 Mendakota's $316.

Is Hallmark Financial or Mendakota 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.

You'll probably end up paying more with speeding tickets and accidents on your record, but which of these two carriers offers the most affordable prices to drivers with less-than-ideal driving records?

Which Company is Best for Drivers with Speeding Tickets?

Policyholders who use Hallmark Financial for their car insurance can usually expect their monthly bill to go up around 7% after getting a speeding ticket. Mendakota policyholders can expect a bit more drastic of an increase of about 8%.

However, Hallmark Financial is normally the cheaper option for both drivers who have clean records and those with a recent ticket, offering premiums that are 12% and 13% more affordable, respectively, compared to Mendakota Insurance Company.

Which Company is Best for Drivers After an Accident?

Hallmark Financial drivers who get in an accident can expect to see their rates climb by $35, while those who have insurance through Mendakota will see around a $50 increase.

At the end of the day, drivers who use Hallmark Financial end up with the cheaper prices after an accident, with average premiums coming in at $229 compared to Mendakota Insurance Company's $273.

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 insurance bill. For example, Mendakota increases average prices by $20 a month -- that's nearly a 10% increase.

But if you end up with a DUI charge and are looking for more affordable rates, Hallmark Financial tends to be cheaper for the average driver, with monthly premiums coming in at about $212 to Mendakota's $241.

How does Credit Score Impact Hallmark Financial and Mendakota Rates?

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

Insurance companies 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 specifically at Mendakota and Hallmark Financial, which carrier has the lowest premiums for drivers at different credit levels?

Which Company is Best for Drivers with Good Credit?

If you have a solid credit score, Hallmark Financial will generally reward you the most. For policyholders with "excellent" credit scores, Hallmark Financial comes in more than 26.23 less expensive. Drivers with "good" credit scores normally save around 20% with Hallmark Financial compared to average rates from Mendakota.

Which Company is Best for Drivers with Bad Credit?

If you have less-than-stellar credit, it can be somewhat of a toss-up as far as which company offers you the best premiums. Drivers with "fair" credit pay about 14% less with Hallmark Financial than Mendakota, but those whose credit is considered "poor" have it flipped -- saving around 6% per month with Mendakota.

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

How much you drive can have a big impact on your monthly rates. Typically, those who drive less will end up with cheaper prices since there's less of a chance of causing a collision and filing an insurance claim.

In this case, neither Hallmark Financial or Mendakota report increasing rates for drivers with higher annual mileage figures. That being said, Hallmark Financial comes out as the cheapest for drivers at both intervals, whether they put 6,000 or 12,000 miles on their car each year, with average premiums of $211 a month for both.

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

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

Mendakota tends to offer the cheapest option for drivers in rural and suburban areas, while Hallmark Financial wins in urban areas.

Those in rural areas can expect to pay about $138 a month with Mendakota compared to Hallmark Financial's $178. People in suburban areas pay around $176 with Mendakota compared to Hallmark Financial's $229 monthly. For drivers in urban ZIP codes, Hallmark Financial's average rates are about $225 per month compared to Mendakota's $418.

Hallmark Financial vs. Mendakota 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 taking advantage of 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 can take advantage of.

Luckily, we did the hard work for you and broke down all of the different discounts offered by both Hallmark Financial and Mendakota so that you can see which company can save you the most money each month.

Overall, Mendakota comes out ahead with five discounts to Hallmark Financial's four.

There are a couple discounts both carriers offer, but Mendakota also offers discounts for homeowner, multi-car, and paid in full.

On the other hand, Hallmark Financial has a few proprietary discounts of their own like education discounts and foreign license discounts.

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

So, we've broken down the average prices for many of the variables car insurance companies look at, and we've shown you all the discounts each company offers. That's all well and good, but at the end of the day, which carrier is the best fit for you?

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

• Your driving record includes a DUI charge.
• Your credit score is high.
• You're of retirement age and want to take advantage of lower premiums.

Mendakota might be best for you if...

• Your home is located in the suburbs.
• You live in a rural neighborhood.
• You want to save money while purchasing auto insurance for a teenager.

Hopefully, this guide has ben a valuable resource as you compare Hallmark Financial and Mendakota and that it aids in making a more informed decision about your 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 car insurance -- comparing quotes from a handful of carriers, not just Hallmark Financial and Mendakota. Luckily, sites like Compare.com do all the hard work for you. Just enter your ZIP code below and get free quotes from dozens of top insurance companies in your area, all in just a few minutes.

Hallmark Financial vs. Mendakota FAQs

Is Hallmark Financial or Mendakota cheaper?

Hallmark Financial is the more affordable of the two carriers when looking at national average prices, with policies averaging $211 a month with Hallmark Financial and $244 for Mendakota. Even so, that doesn't mean Hallmark Financial will be the most affordable company for every driver, since there are a range of different factors that come into play when it comes to your auto insurance bill.

Who is better, Hallmark Financial or Mendakota?

Unfortunately, the answer truly is "it depends.". Neither carrier is necessarily "better" for everyone -- it all comes down to what your unique car insurance profile looks like. For example, Mendakota is less expensive for drivers who have less-than-stellar credit scores, while Hallmark Financial offers more affordable rates for drivers with an at-fault accident on their record.

Why do Hallmark Financial and Mendakota offer me different rates?

Auto insurance companies use a lot of different variables when calculating the premiums they charge. Factors like age, your driving record, where you live, gender, and sometimes even things like your credit score can all be used. Both Hallmark Financial and Mendakota calculate rates using 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 a variety of different carriers.

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

The only way to find the car insurance carrier that's right for you is by getting quotes from several companies 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 carriers for free. With those, you can guarantee you're getting the best premium. And maybe you'll find that the best company for you isn't Hallmark Financial or Mendakota 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.