Hallmark Financial vs. Oklahoma Farm Bureau: Which Company is the Best Fit for You?

Quick Facts

• Based on national averages for insurance, Oklahoma Farm Bureau offers more affordable rates than Hallmark Financial
• Hallmark Financial tends to be a much cheaper option for drivers with a DUI
• Oklahoma Farm Bureau offers less expensive average premiums for policyholders who live in urban areas

Hallmark Financial or Oklahoma Farm Bureau: Which Company has the Cheapest Car Insurance?

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

You might have narrowed it down to Hallmark Financial or Oklahoma Farm Bureau as potential options, but which one will offer you cheaper prices?

Looking at the national average rates for both carriers, Hallmark Financial is around $37 more a month than Oklahoma Farm Bureau.

Even so, that doesn't necessarily mean Oklahoma Farm Bureau will be the less expensive option for every single driver. After all, car insurance companies can offer drastically different rates to every driver depending on rating factors like where you call home, your credit score, your driving record, or even your age (among other things). So, at the end of the day, rates from each company will differ quite a bit from person to person.

Wanting to know if Hallmark Financial or Oklahoma Farm Bureau 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.

Hallmark Financial vs. Oklahoma Farm Bureau: Average Car Insurance Rates by State

Hallmark Financial and Oklahoma Farm Bureau only compete against each other in Oklahoma, where Oklahoma Farm Bureau offers the cheaper average rates. Oklahoma Farm Bureau drivers tend to pay about $124 per month less on average compared to drivers who use Hallmark Financial for their insurance.

But there's more to auto insurance than just the state you live in. As we mentioned above, there's a lot of things that go into how car insurance carriers determine your premiums. Read on to learn more.

Which is the Best Company For Young Drivers?

You might already know that teen drivers normally pay a lot more for insurance than any group out there on the road. The reason is that teen drivers are statistically much more likely to get into accidents since they have less experience on the roads.

But still, even with seemingly sky-high prices, teen drivers can still find ways to save money. Just look at the table above -- where 18-year-old drivers who have Oklahoma Farm Bureau for their auto insurance pay over 20% less than those who use Hallmark Financial.

But both companies will drop premiums by the time drivers turn 25. For example, average rates for Hallmark Financial policyholders reduce about $300 and Oklahoma Farm Bureau's prices lower around $200 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 rates you'll ever see.

So, which company offers the best prices to retired drivers? Oklahoma Farm Bureau gets the edge, with premiums for drivers 65 and older $35 more affordable than the national average for Hallmark Financial.

Which is the Best Company for Married Drivers?

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

For single policyholders, the difference in average prices between these two companies is significant, with Oklahoma Farm Bureau premiums coming in at a quarter less than Hallmark Financial's. It's not quite so glaring for married policyholders, where drivers who use Oklahoma Farm Bureau save almost 10% a month.

Hallmark Financial or Oklahoma Farm Bureau: Average Rates by Gender

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

Women usually pay nearly 10% per month less than men with Hallmark Financial, and about 14% less with Oklahoma Farm Bureau.

Looking at the data for each carrier specifically, Oklahoma Farm Bureau comes out as the cheapest option for both genders. On average, male drivers save about $33 a month and women save around $40 with Oklahoma Farm Bureau compared to the average Hallmark Financial policyholder.

Hallmark Financial vs. Oklahoma Farm Bureau: 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 isn't the easiest topic to understand. Everyone needs insurance, but there are so many different limits and terms that it can be hard to find the right policy for you.

The two most common policies that drivers look at fall into two categories -- liability coverage (which covers the other party's property damage and injuries if you cause a collision) and full coverage (which typically refers to having collision and comprehensive coverages in addition to liability).

Looking specifically at state minimum limits for liability insurance, Oklahoma Farm Bureau has the edge, with average monthly prices coming in at $93. If you want a full coverage policy with the same state minimum limits, Oklahoma Farm Bureau again has the edge, with policies averaging about $256 per month to Hallmark Financial's $306.

Is Hallmark Financial or Oklahoma Farm Bureau Better for Drivers with Spotty Records?

It's no secret -- drivers with good records end up getting the best deals on their auto 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 accidents and speeding tickets lead to higher premiums, but which company -- Hallmark Financial or Oklahoma Farm Bureau -- has the most affordable rates for 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. Oklahoma Farm Bureau policyholders can expect a bit more drastic of an increase of about 10%.

However, Oklahoma Farm Bureau has less expensive premiums for drivers in both categories. With Oklahoma Farm Bureau Insurance, drivers with a clean record can save around $52 a month and drivers with a ticket can save about $50 per month.

Which Company is Best for Drivers After an Accident?

Hallmark Financial drivers who get in an accident can expect to see their rates increase by $35, while those who have insurance through Oklahoma Farm Bureau will see around a $15 increase.

At the end of the day, drivers who use Oklahoma Farm Bureau end up with the cheaper prices after an accident, with average prices coming in at $158 compared to Hallmark Financial's $229.

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. Oklahoma Farm Bureau drivers usually see a 41% raise in their car insurance premiums after a DUI charge, while Hallmark Financial will typically increase rates by about 8%.

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 Oklahoma Farm Bureau's $240.

How does Credit Score Impact Hallmark Financial and Oklahoma Farm Bureau Rates?

You may not have known, but your credit score can come into play when carriers calculate your monthly bill. This isn't true for everyone (for example, California and Hawaii are two states that ban the practice entirely), but it will come into play for several policyholders.

The reasoning insurance companies use is that drivers with bad credit will be less likely to pay their bills on time; so generally, they'll be asked to pay more, while those with good credit will be rewarded with less expensive rates.

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

Which Company is Best for Drivers with Good Credit?

If you have great credit, Oklahoma Farm Bureau will normally reward you the most. For drivers with "excellent" credit scores, Oklahoma Farm Bureau comes in NaN more affordable. Drivers with "good" credit scores generally save about 11% with Oklahoma Farm Bureau compared to average premiums from Hallmark Financial.

Which Company is Best for Drivers with Bad Credit?

Oklahoma Farm Bureau typically offers lower prices than Hallmark Financial when it comes to drivers with a below average credit score. Drivers with "fair" credit pay around 16% a month less with Oklahoma Farm Bureau compared to Hallmark Financial, and those with "poor" scores usually save an average of about 32% monthly.

Is Hallmark Financial or Oklahoma Farm Bureau 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 how much auto insurance carriers will charge for coverage? Normally, the more milage you put on your car, the more you can expect to pay for insurance.

In this case, neither Hallmark Financial or Oklahoma Farm Bureau report increasing premiums for drivers with higher annual mileage figures. Still, Oklahoma Farm Bureau comes out as the cheapest for drivers at both intervals, whether they put 6,000 or 12,000 miles on their vehicle every year, with average rates of $174 per month for both.

Hallmark Financial or Oklahoma Farm Bureau: Compare Rates for Urban, Suburban, and Rural Drivers

We've already mentioned how your home state can play a role in how much you pay for auto insurance, but the type of area you live in can have a pretty big impact as well. Typically, policyholders who live in less densely populated rural areas will pay quite a bit less than urban drivers because of the small number of cars that are on the roads where they live.

When comparing these two companies side-by-side, Oklahoma Farm Bureau normally comes out as the lowest option for drivers in all types of areas, no matter if they're urban, suburban, or rural.

Those in rural areas can expect to pay around $152 per month with Oklahoma Farm Bureau compared to Hallmark Financial's $178. Drivers in suburban ZIP codes pay about $189 with Oklahoma Farm Bureau compared to Hallmark Financial's $229 a month. In urban areas, Oklahoma Farm Bureau's average rates are around $182 a month compared to Hallmark Financial's $225.

Hallmark Financial vs. Oklahoma Farm Bureau Discounts

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

The hard part is finding all of the discounts you can take advantage of, since it can feel sometimes like every carrier has different discounts and each one is advertised differently.

Luckily, we did the hard work for you and looked at all of the different discounts Hallmark Financial and Oklahoma Farm Bureau offer their customers so that you can easily see which company offers the most discounts and, therefore, the largest savings.

Overall, Oklahoma Farm Bureau has a slight advantage when it comes to total number of discounts. Hallmark Financial offers a grand total of four discounts, while Oklahoma Farm Bureau has five.

There are a couple discounts both carriers offer, but Oklahoma Farm Bureau also offers discounts for good student, group discount, multi-car, and more.

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

Final Thoughts: Is Hallmark Financial or Oklahoma Farm Bureau Best for You?

So, you've seen how different variables can affect your insurance premiums. We've shown you all the discounts each company offers, too. But, at the end of the day, which insurance carrier is the best carrier for you, your vehicle, and your wallet?

Oklahoma Farm Bureau might be best for you if....

• You will be the only person on the car insurance policy.
• You want the most robust protection via a "full coverage" policy.
• You're married and plan to have both of your names on the vehicle's auto insurance policy.

Hallmark Financial might be best for you if...

• Your driving record includes a DUI charge.

Hopefully, this guide has ben a valuable resource as you compare Hallmark Financial and Oklahoma Farm Bureau. We also hope we've given you the information you need to make the best decision about your 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 Oklahoma Farm Bureau. 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 carriers in your area, all in just a few minutes.

Hallmark Financial vs. Oklahoma Farm Bureau FAQs

Is Hallmark Financial or Oklahoma Farm Bureau cheaper?

Oklahoma Farm Bureau is the cheaper of the two companies when looking at national average prices, with policies averaging $174 per month with Oklahoma Farm Bureau and $211 for Hallmark Financial. That being said, that doesn't mean Oklahoma Farm Bureau will be the most affordable company for each policyholder, since there are a bunch of different factors that are considered when it comes to your insurance cost.

Who is better, Hallmark Financial or Oklahoma Farm Bureau?

Unfortunately, the answer truly is "it depends.". One carrier is not "better" for everyone -- it all boils down to your unique car insurance profile. For example, Oklahoma Farm Bureau is more affordable for drivers with excellent credit, while Hallmark Financial offers cheaper rates for drivers with a recent DUI.

Why do Hallmark Financial and Oklahoma Farm Bureau offer me different rates?

Auto insurance carriers use quite a few different variables when determining the premiums they charge. Factors like age, where you call home, your driving record, gender, and sometimes even things like your credit score can all come into play. Both Hallmark Financial and Oklahoma Farm Bureau use 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 multiple different companies.

How do I know if Hallmark Financial or Oklahoma Farm Bureau is right for me?

The only way to find the car insurance carrier 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, 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 auto insurance companies for free. That way, 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 Oklahoma Farm Bureau 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.