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

Quick Facts

• Looking at the national averages for car insurance, Hallmark Financial offers significantly less expensive rates than Mercury
• Hallmark Financial tends to be a much cheaper option for drivers with a DUI
• Mercury may help you save more money -- they offer more discounts than Hallmark Financial

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

Are you in the market for a new insurance policy? With so many ads from all sorts of companies offering big savings, you're probably wondering exactly how much you might be able to save.

You might have narrowed your search down to Hallmark Financial or Mercury as potential options, but which carrier has more affordable prices for insurance?

Looking at the national average rates for both carriers, Hallmark Financial has average rates that are around 30% a month cheaper than those from Mercury.

That being said, Hallmark Financial may not be the most affordable or best option for each driver out there. Car insurance companies vary their rates depending on things like how old you are, where you live, how good your credit score is, how clean your driving record is, and tons of other factors, so premiums could change drastically from person to person.

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

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

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

There are plenty of other factors that go into your auto insurance payment than just your home state. Keep reading to learn more.

Which is the Best Company For Young Drivers?

You might already know that teen drivers normally pay a lot more for car insurance than any other group of drivers. That's typically because teen drivers are statistically much more likely to get into an accident that results in an insurance claim, making them much riskier to insure.

Even so, that doesn't mean teen drivers can't still save money on their auto insurance. For example, 18-year-old drivers pay an average of over 35% less per month by choosing Hallmark Financial over Mercury. It's worth noting that Mercury offers insurance in 11 different states compared to Hallmark Financial's three, which can skew the average premiums a bit, but the difference here is still considerable.

However, with both companies, you'll see your prices decrease significantly by the time you turn 25. For example, average premiums for Hallmark Financial policyholders lower more than 60% and Mercury's rates drop almost 70% over that time.

Which is the Best Company for Retired Drivers?

Drivers around retirement age generally enjoy some of the cheapest auto insurance premiums you can find. After all, they've likely been driving for quite some time, which usually reduces their chances of collisions and other infractions that can raise prices.

When looking at Hallmark Financial and Mercury specifically, which company is best for retired drivers? Hallmark Financial gets the edge here, with average rates coming in at about $154 a month compared to Mercury's $219.

Which is the Best Company for Married Drivers?

Married drivers tend to get slightly less expensive insurance premiums than those who are single. That's normally because married couples tend to own and insure several vehicles, which can often earn you a discount.

For single drivers, the difference in average prices between these two carriers is significant, with Hallmark Financial rates coming in at a quarter less than Mercury's. The advantage for married policyholders with Hallmark Financial is also obvious, where drivers save around $60 a month.

Hallmark Financial or Mercury: Average Rates by Gender

Men are statistically more likely than women to get pulled over for speeding or get into a collision. That means when it comes to car insurance men will usually end up paying a little more.

With Hallmark Financial, men typically pay nearly 10% more per month than women., and about 5% more with Mercury.

Looking at overall affordability, Hallmark Financial offers the lowest average premiums for both men and women. On average, male drivers save about $81 a month and women save around $87 with Hallmark Financial compared to the average Mercury policyholder.

Hallmark Financial vs. Mercury: 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 coverages and limits 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 (which provides bodily injury and property damage coverage for other drivers and their passengers 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 limits for liability insurance, Hallmark Financial has the significant edge, with average monthly rates 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 Mercury's $406.

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

You've probably seen plenty of commercials from car insurance companies offering great prices for good drivers, but that doesn't mean people with less-than-perfect driving records can't save money, too.

Speeding tickets and accidents will most likely raise your premiums, but is Hallmark Financial or Mercury cheaper for drivers with less-than-ideal driving records?

Which Company is Best for Drivers with Speeding Tickets?

Policyholders who use Hallmark Financial for their insurance can usually expect their monthly bill to go up around 7% after getting a speeding ticket. Mercury policyholders can expect a bit more drastic of an increase of about 19%.

That being said, Hallmark Financial has more affordable prices for drivers in both categories, offering rates that are $43 and $86 cheaper, respectively, compared to Mercury Insurance.

Which Company is Best for Drivers After an Accident?

Hallmark Financial drivers who get in a collision can expect to see their prices increase by over 15%, while those who have insurance through Mercury will see around a 30% increase.

At the end of the day, the less expensive rates come from Hallmark Financial, with average premiums coming in at $229 compared to Mercury Insurance's $346.

Which Company is Best for Drivers with a DUI?

If you get a DUI charge on your record, it's probably going to cost you more than a simple ticket or even an accident. For example, Mercury increases average rates by more than $65 a month -- that's more than a 20% increase.

Hallmark Financial has the overall cheapest premiums for drivers with a DUI on their records at $212 monthly, but it's worth noting that Mercury's average rates come from 11 states compared to just three for Hallmark Financial, so the data may be skewed slightly.

How does Credit Score Impact Hallmark Financial and Mercury Rates?

Did you know many car insurance carriers take your credit score into account when determining prices? This isn't true for everyone (for example, California and Massachusetts are two states that ban the practice entirely), but it will come into play for many policyholders.

The reasoning auto insurance companies use is that drivers with good credit will be more likely to pay their bills on time; so they'll reward them with cheaper premiums, while those with poor credit will typically be forced to pay more.

Looking at Hallmark Financial and Mercury specifically, which one has the most affordable prices for policyholders at different credit levels?

Which Company is Best for Drivers with Good Credit?

If you have a great credit score, Hallmark Financial will normally reward you the most. For drivers with "excellent" credit scores, Hallmark Financial comes in nearly 19.28 cheaper. Drivers with "good" credit scores generally save about 27% with Hallmark Financial compared to average rates from Mercury.

Which Company is Best for Drivers with Bad Credit?

Hallmark Financial typically offers lower premiums than Mercury when it comes to drivers with less-than-stellar credit. Drivers with "fair" credit pay around 31% per month less with Hallmark Financial compared to Mercury, and those with "poor" scores normally save an average of about 36% per month.

Is Hallmark Financial or Mercury 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 big impact on your monthly insurance cost? Usually, the more milage you put on your car each year, the more you can expect to pay for car insurance.

In this case, neither Hallmark Financial or Mercury report increasing rates for drivers with higher annual mileage figures. Even so, Hallmark Financial 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 prices of $211 a month for both.

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

Where you live can play a large role in how much you pay for insurance. Generally, those who live in rural areas will pay less than policyholders in urban areas since there are a lot fewer cars on the road where they live, which decreases the chances of an accident.

Hallmark Financial tends to offer the cheapest premiums for drivers in all types of areas, no matter if they're urban, suburban, or rural.

For drivers in urban ZIP codes, Hallmark Financial's average prices are around $176 less than Mercury Insurance. People who live in suburban areas pay about $46 less with Hallmark Financial compared to Mercury. Those in rural areas can expect to save around $31 with Hallmark Financial compared to Mercury.

Hallmark Financial vs. Mercury Discounts

No matter why you might be in the market for a new auto insurance policy, you're always going to want to save as much money as you can. That's where insurance discounts comes into play.

But where do you even start? With so many discounts out there, it may seem difficult to find all the of the ones you qualify for.

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

Mercury blows Hallmark Financial away when it comes to the sheer amount of discounts available, offering 27 different discounts to Hallmark Financial's four.

Both carriers offer lots of the same discounts -- like discounts for being a defensive driver and passive restraint discounts -- but Mercury also offers discounts for ABS, advance quote, anti-theft, and more.

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 Mercury Best for You?

So, we've broken down the average rates for many of the variables auto insurance companies look at, and walked through the different discounts each company offers, too. But, when it comes down to it, which insurance carrier is the right carrier for you and your specific driver profile?

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

• You will be the only person on the car insurance policy.
• You're looking for the best prices on liability only coverage.
• You want to save money while purchasing auto insurance for a teenager.

Mercury might be best for you if...

• You already have plans to move to another state -- Hallmark Financial is only available in three states.
• You care about discounts (Mercury offers the most).

Hopefully, this guide helps you get a good idea of the differences between Hallmark Financial and Mercury. We also hope we've given you the information you need to make the best decision when it comes to your 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 multiple carriers, not just Hallmark Financial and Mercury. Luckily, Compare.com does all the hard work for you. Just enter your ZIP code below and get free quotes from dozens of top auto insurance companies in your area, all in just a few minutes.

Hallmark Financial vs. Mercury FAQs

Is Hallmark Financial or Mercury cheaper?

Hallmark Financial is the more affordable of the two carriers when looking at national average premiums, with policies averaging $211 per month with Hallmark Financial and $295 for Mercury. However, that doesn't mean Hallmark Financial will be the most affordable company for each driver, since there are a bunch of different factors that are considered when it comes to your insurance bill.

Who is better, Hallmark Financial or Mercury?

Sadly, the real answer is "it depends.". No one carrier is necessarily "better" for every policyholder -- it all depends on the makeup of your unique car insurance profile.

Why do Hallmark Financial and Mercury offer me different rates?

Auto insurance companies use several different variables when calculating the prices they charge. Things such as your driving record, where you call home, age, gender, and sometimes even things like your credit score can all be taken into consideration. Both Hallmark Financial and Mercury calculate premiums differently, 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 a variety of different carriers.

How do I know if Hallmark Financial or Mercury 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, 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 insurance carriers for free. With those, you can guarantee you're getting the best price. And maybe you'll find that the best company for you isn't Hallmark Financial or Mercury 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.