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

Quick Facts

• In general, Nationwide offers cheaper premiums than Hallmark Financial
• Hallmark Financial tends to be a much less expensive option for drivers with a DUI charge on their record
• Nationwide offers more discounts than Hallmark Financial

Hallmark Financial vs. Nationwide: Which Company has the Cheapest Car Insurance?

So, you're thinking about switching your auto insurance. You've probably seen commercials and billboards from companies offering substantial discounts, but exactly how much money can you save by switching?

You might have narrowed it down to Hallmark Financial or Nationwide as your top options, but between the two, which company will offer you more affordable prices?

As you can see, Nationwide has average rates that are about 19% per month cheaper than those from Hallmark Financial when looking at the national average rates for auto insurance.

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

So, if you want to find out which of Hallmark Financial or Nationwide is really the best for you, keep reading to see average premiums for each company broken down by lots of different rate factors.

Hallmark Financial or Nationwide: Average Car Insurance Rates by State

Hallmark Financial and Nationwide only compete against each other in one states, with Nationwide offering more affordable rates to the average driver in all of them. Arkansas has the most noticable difference, where Nationwide prices are over 10% less expensive than auto insurance premiums at Hallmark Financial.

But there's more to car insurance than just where you live. As we mentioned above, there's a lot of things that go into how insurance carriers calculate your rates. Continue reading to learn more about how other factors will affect your rates.

Which is the Best Company For Young Drivers?

Teen drivers will almost always have the most expensive car insurance prices of any other group of drivers out there on the road. It's typically 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 premiums, teen drivers can still find ways to save money. Just look at the table above -- where 18-year-old drivers who have Nationwide for their auto insurance pay nearly $100 less than those who use Hallmark Financial.

That being said, both companies will drop rates once you turn 25. For example, average prices for Hallmark Financial policyholders decrease more than 60% and Nationwide's premiums lower over 60% over that time.

Which is the Best Company for Retired Drivers?

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

So, which carrier offers the best rates to retired drivers? Nationwide gets the edge, with premiums for drivers 65 and older almost 20% cheaper than the national average for Hallmark Financial.

Which is the Best Company for Married Drivers?

Did you know that car insurance rates are normally more expensive for single policyholders than they are for married drivers? This usually boils down to married policyholders having more than one car on their policy -- something many insurance carriers will reward with discounts.

When it comes to relationship status, Nationwide is the clear winner for single drivers, with premiums around $54 a month more affordable than Hallmark Financial, on average. The advantage for married couples with Nationwide is also obvious, where drivers save nearly 15% per month.

Hallmark Financial vs. Nationwide: Average Rates by Gender

Men are statistically more likely than women to get into accidents and get tickets, which means they'll generally end up paying more for auto insurance than women.

With Hallmark Financial, women usually pay about $20 a month less than men, and more than $10 cheaper with Nationwide when compared to their male counterparts.

When it comes to the cheapest prices for each gender, Nationwide comes out as the most affordable option for both genders, with average rates 20% less for men and 18% cheaper for women.

Hallmark Financial or Nationwide: 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.

The two most common policies that many drivers look at fall into two categories -- liability only (which provides property damage and bodily injury coverage for other drivers and passengers if you cause an accident) and full coverage (which includes comprehensive and collision coverages that protect your own vehicle, alongside liability).

If you're looking for state minimum liability insurance, Nationwide typically offers slightly cheaper prices of $112 compared to Hallmark Financial's $115. When it comes to full coverage policies with similar limits, Nationwide again has the edge, with policies around $75 per month more affordable than Hallmark Financial, on average.

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

It's no big secret that drivers who are accident-free get better deals on their insurance. But even if you have a spotty record, you can still find plenty of ways to save some cash on your monthly bill.

You'll probably end up paying more with at-fault accidents and tickets on your record, but which of these two companies offers the cheapest premiums to drivers with less-than-perfect records?

Which Company is Best for Drivers with Speeding Tickets?

Hallmark Financial policyholders can expect their prices to go up an average of $14 a month if they get a ticket, while Nationwide generally raises premiums about $24 per month, on average.

But Nationwide is usually the less expensive option for drivers both with clean records and with a speeding ticket, offering rates that are 36% and 28% cheaper, respectively, compared to Hallmark Financial.

Which Company is Best for Drivers After an Accident?

Hallmark Financial drivers who get in a collision can expect to see their premiums increase by $35, while those who have insurance through Nationwide will see around a $55 increase.

Overall, the less expensive rates come from Nationwide, with monthly prices averaging $178 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. Nationwide drivers usually see a 46% increase in their car insurance rates after a DUI charge, while Hallmark Financial will typically climb premiums by about 8%.

How does Credit Score Impact Hallmark Financial and Nationwide Rates?

Often times, your credit score can be used as one of the variables to determine your monthly insurance prices. Certain states and carriers do not allow for credit score to be used as a rating factor, but it might come into play for several policyholders.

Auto insurance companies argue that someone with good credit is more likely to pay their bills on time, which makes them less risky to insure. Because of that, drivers with good credit will often be rewarded with more affordable rates.

Looking specifically at Nationwide and Hallmark Financial, which one has the best prices 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 Hallmark Financial or Nationwide Better for Drivers who Work from Home or Have Short Commutes?

How much you drive can have a big impact on your monthly car insurance cost. Usually, those who drive fewer miles will end up with less expensive premiums since there's less of a chance of getting into a collision and causing 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 rates for Nationwide, with policyholders who drive 6,000 miles yearly paying around $1 less every month compared to those who drive 12,000 miles annually. Still, Nationwide is the more affordable option for drivers in both categories.

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

Where you live can have a considerable impact on your monthly insurance payment. Generally, drivers who live in less densely populated rural areas will pay quite a bit less than urban policyholders due to the small number of cars that are on the roads in those areas.

Nationwide tends to offer the most affordable premiums for drivers in every type of area, no matter if it's urban, suburban, or rural.

For drivers in urban ZIP codes, Nationwide offers rates about $199 monthly compared to Hallmark Financial's $225. People who live in suburban ZIP codes can expect to pay around $159 a month for Nationwide and $229 for Hallmark Financial. Lastly, those in rural areas tend to get the cheapest prices from both carriers, with average monthly premiums coming in at $151 and $178 for Nationwide and Hallmark Financial respectively.

Hallmark Financial vs. Nationwide Discounts

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

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.

In the section below, we've taken a look at all of the different discounts Hallmark Financial and Nationwide offer their customers so that you can easily see which company offers the most discounts and, therefore, the biggest savings.

Nationwide knocks Hallmark Financial out of the park when it comes to the sheer number of discounts available, offering 22 different discounts to Hallmark Financial's 22.

There are a couple discounts both companies offer, but Nationwide also offers advance quote discounts, agency transfer discounts, anti-theft 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 Hallmark Financial or Nationwide Best for You?

You've seen the effect certain factors have on your insurance and the different discounts carriers offer. That's all well and good, but at the end of the day, is Hallmark Financial or Nationwide the right fit for you?

Nationwide might be best for you if....

• You're single and purchasing car insurance by yourself.
• You're looking for the carrier with the most discounts.
• You've started working from home and don't have much of a commute.

Hallmark Financial might be best for you if...

• You have a DUI charge on your record.

We hope this guide helps you get a better idea of the difference between Hallmark Financial and Nationwide. We also hope we've given you the information you need to make the best decision when it comes to your auto insurance.

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

Hallmark Financial vs. Nationwide FAQs

Is Hallmark Financial or Nationwide cheaper?

Looking just at the national average rates, Nationwide is the cheaper of the two companies, offering average rates of $170 per month compared to $211 for Hallmark Financial. Even so, Nationwide won't necessarily be the most affordable company for everyone, since there are multiple different variables that come into play when it comes to your insurance bill.

Who is better, Hallmark Financial or Nationwide?

Unfortunately, the only answer we can give you is "it depends.". No single carrier is "better" for each driver -- it all depends on what your unique car insurance profile looks like. For example, Hallmark Financial offers more affordable prices for drivers with a recent DUI, while Nationwide is cheaper for drivers with excellent credit.

Why do Hallmark Financial and Nationwide offer me different rates?

Insurance carriers take a look at lots of different factors when calculating the premiums they charge policyholders. Variables like where your home is, where you park your vehicle, age, gender, and sometimes even things like your credit score can all come into play. Both Hallmark Financial and Nationwide use different formulas, so each one will most likely offer different prices. The only real way to see which company is the lowest for you is by comparing personalized quotes from a range of different companies.

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

The only way to find the auto insurance carrier that's right for you is by getting quotes from multiple 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 insurance companies in your area. That way, you can guarantee you're getting the cheapest price. And who knows, the best company for you might not be Hallmark Financial or Nationwide 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.