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

Quick Facts

• Based on national averages for auto insurance, Southern Farm Bureau offers significantly less expensive rates than Hallmark Financial
• Southern Farm Bureau tends to be a much cheaper option for drivers with a DUI charge on their record
• Southern Farm Bureau offers more affordable average premiums for couples purchasing car insurance together

Hallmark Financial vs. Southern 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 big discounts, you're probably wondering exactly how much you might be able to save.

You've maybe even narrowed it down to Hallmark Financial or Southern Farm Bureau, but which company will offer you less expensive rates?

As you can see, Hallmark Financial is quite a bit more expensive than Southern Farm Bureau, with prices averaging $211 per month compared to just $103 with Southern Farm Bureau when looking at the national average rates for insurance.

But that doesn't necessarily mean Southern Farm Bureau will be the more affordable option for every single driver. After all, auto insurance companies can offer drastically different rates to each driver depending on rating factors like your age, where you call home, your driving record, or even your credit score (among other things), so premiums could differ drastically from person to person.

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

Hallmark Financial or Southern Farm Bureau: Average Car Insurance Rates by State

Hallmark Financial and Southern Farm Bureau only compete against each other in Arkansas, where Southern Farm Bureau offers the cheaper average premiums. For Arkansas residents, Southern Farm Bureau offers insurance for $103 a month on average. Hallmark Financial's average rates come out to be over 70% more expensive, at $211 monthly.

That being said, there's a lot more that goes into your auto insurance cost than just your home state. Read on to learn more.

Which is the Best Company For Young Drivers?

Young drivers -- especially teens -- generally pay a lot for car insurance compared to older drivers. It's because young, inexperienced drivers are statistically much more likely to get into accidents since they have less experience on the roads.

Even so, that doesn't mean that teen drivers have to just accept sky-high insurance prices. As you can see above, teens who use Southern Farm Bureau save nearly $300 a month compared to those who use Hallmark Financial.

That being said, with both carriers, you'll see your rates drop significantly by the time you turn 25. For example, average premiums for Hallmark Financial policyholders lower almost $300 and Southern Farm Bureau's prices reduce about $100 over that time.

Which is the Best Company for Retired Drivers?

Once you approach retirement age, you'll typically enjoy the most affordable car insurance premiums you'll ever see. You've been on the road for years, and all that experience pays off when it comes to your monthly rates for auto insurance.

But who has the best premiums for retired drivers between Hallmark Financial and Southern Farm Bureau? Southern Farm Bureau gets the edge, with prices for drivers 65 and older $78 cheaper than the national average for Hallmark Financial.

Which is the Best Company for Married Drivers?

Did you know that insurance rates are normally more affordable for married policyholders than they are for single policyholders? That's usually because married drivers tend to own and insure several cars, which can often earn you a discount.

When it comes to relationship status, Southern Farm Bureau is the clear winner for single drivers, with prices around $135 per month less expensive than Hallmark Financial, on average. For married couples, the advantage is clear again - Southern Farm Bureau has the edge when it comes to average rates.

Hallmark Financial vs. Southern Farm Bureau: Average Rates by Gender

Did you know men tend to pay more for auto insurance than women? This is because women are less likely to get into accidents and get speeding tickets, which decreases the chances of an insurance claim.

Women typically pay nearly 10% a month less than men with Hallmark Financial, and about 6% less with Southern Farm Bureau when compared to their male counterparts.

Looking at the data for each company specifically, Southern Farm Bureau offers the lowest average premiums for both men and women, with average prices 52% less for men and 50% cheaper for women.

Hallmark Financial or Southern 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.

Car insurance isn't the easiest topic to understand. Everyone needs auto insurance, but there are so many different coverages and limits that it can be hard to find the right policy.

The two most common policies that many drivers look at fall into two categories -- liability only (which covers the other party's injuries and property damage if you cause an accident) and full coverage (which usually refers to having comprehensive and collision coverages alongside liability coverage).

If you're looking for state minimum liability insurance, Southern Farm Bureau generally offers significantly cheaper premiums of $54 compared to Hallmark Financial's $115. When it comes to full coverage policies with similar limits, Southern Farm Bureau again has the edge, with policies around $150 per month less expensive than Hallmark Financial, on average.

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

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

It's no secret secret that at-fault accidents and tickets lead to higher prices, but which carrier -- Hallmark Financial or Southern Farm Bureau -- has the cheapest premiums for drivers with less-than-perfect records?

Which Company is Best for Drivers with Speeding Tickets?

Hallmark Financial policyholders can expect their rates to go up an average of $14 a month if they get a ticket, while Southern Farm Bureau normally raises premiums about $8 per month, on average.

However, Southern Farm Bureau tends to offer the best prices for drivers both with a speeding ticket and with a clean record. Drivers with a clean record can save around $105 a month and drivers with a ticket can save about $111 per month with Southern Farm Bureau Insurance.

Which Company is Best for Drivers After an Accident?

Both carriers will increase prices pretty significantly if you get into an at-fault accident with Hallmark Financial climbing by $35. Southern Farm Bureau has a less extreme raise, but you can still expect to pay over $25 more than you were prior to your first collision.

Overall, Southern Farm Bureau offers the most affordable rates for drivers with an at-fault accident on their records, with monthly premiums averaging $116 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 car insurance bill. On average, Southern Farm Bureau will climb your prices around 18% after a DUI, while Hallmark Financial's average rates increase by just under 10%.

If you have a DUI on your record and are looking for more affordable prices, Southern Farm Bureau tends to be the much cheaper option with average rates of $108 per month compared to $212 from Hallmark Financial.

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

Did you know that many insurance companies take into account your credit score when calculating premiums? This isn't always the case (for example, Hawaii and California are two states that ban the practice entirely), but it will come into play for many drivers.

Car insurance carriers argue that those with good credit scores are more likely to pay their bills on time every month, which lowers the risk involved on their end, while the opposite is true for those with bad credit.

So, which company offers the lowest rates for policyholders with poor, average, or good credit?

Which Company is Best for Drivers with Good Credit?

If you have solid credit, you'll usually find a better deal with Southern Farm Bureau. Drivers with "excellent" credit can save 60% compared to Hallmark Financial, and those with "good" scores can also expect to see savings -- about $110 or 56% more affordable each month.

Which Company is Best for Drivers with Bad Credit?

Southern Farm Bureau typically offers lower prices than Hallmark Financial when it comes to drivers with less-than-perfect credit. Drivers with "fair" credit pay around $103 a month less with Southern Farm Bureau compared to Hallmark Financial, and those with "poor" scores usually save an average of about $111 monthly.

Is Hallmark Financial or Southern Farm Bureau Better for Drivers who Work from Home or Have Short Commutes?

The amount of time you spend behind the wheel of your car plays a big role in your monthly premiums. Normally, those who drive fewer miles will end up with less expensive prices since there's less of a chance of getting into a collision and causing an insurance claim.

In this case, neither Hallmark Financial or Southern Farm Bureau report increasing premiums for drivers with higher annual mileage figures. Still, Southern 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 $103 per month for both.

Hallmark Financial vs. Southern 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 big impact as well. Typically, those who live in urban areas will pay more than policyholders in rural areas because there are a lot more cars on the road in those areas, which increases the chances of an accident.

Southern Farm Bureau tends to offer the most affordable premiums for drivers in all areas, regardless of if they're urban, suburban, or rural.

For drivers in urban ZIP codes, Southern Farm Bureau offers prices around $110 per month compared to Hallmark Financial's $225. People who live in suburban ZIP codes can expect to pay about $115 a month for Southern Farm Bureau and $229 for Hallmark Financial. Lastly, those in rural areas tend to get the cheapest premiums from both companies, with average monthly rates coming in at $83 and $178 for Southern Farm Bureau and Hallmark Financial respectively.

Hallmark Financial vs. Southern Farm Bureau Discounts

Regardless of why you might be in the market for a new insurance policy, you're always going to want to save as much money as possible, and the best way to do that is by utilizing as many auto insurance discounts as you can.

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

In the table below, we've compared all of the different discounts offered by Hallmark Financial and Southern Farm Bureau so that you can find the one that has the most discounts and, therefore, the biggest savings.

They both offer great discounts like discounts for being a defensive driver.

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

So, we've broken down the average premiums for many of the factors car insurance carriers look at, and walked through the different discounts each carrier offers, too. That's all well and good, but when it comes down to it, which insurance company is the right fit for you?

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

• You're single and purchasing insurance by yourself.
• You're looking for more protection with "full coverage" auto insurance.
• You're buying car insurance for a teen and looking for a wallet-friendly option.

Hallmark Financial might be best for you if...

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

We hope this guide helps you get a good idea of the differences between Hallmark Financial and Southern Farm Bureau. We also hope we've given you the information you need to make the best decision about your auto 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 insurance -- comparing quotes from a handful of companies, not just Hallmark Financial and Southern Farm Bureau. Luckily, Compare.com does all the hard work for you. Simply enter your ZIP codes below and get multiple quotes from some of the best car insurance carriers in your area, all for free.

Hallmark Financial vs. Southern Farm Bureau FAQs

Is Hallmark Financial or Southern Farm Bureau cheaper?

Looking just at the national average prices, Southern Farm Bureau is the more affordable of the two companies, offering average rates of $103 per month compared to $211 for Hallmark Financial. Even so, Southern Farm Bureau won't necessarily be the lowest carrier for each driver, since there are lots of different variables (things like driving record, age, gender, etc.) that play a role in how much you pay.

Who is better, Hallmark Financial or Southern Farm Bureau?

Unfortunately, the only answer we can give you is "it depends.". Neither company is "better" for every driver -- it all boils down to your unique auto insurance profile.

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

Insurance carriers take a look at a lot of different factors when determining the rates they charge policyholders. Variables like where your home is, age, gender, where you park your vehicle, and sometimes even things like your credit score can all be used. Both Hallmark Financial and Southern Farm Bureau calculate prices using different formulas, so each one will most likely offer different rates. The only real way to see which carrier is the most affordable for you is by comparing personalized quotes from multiple different companies.

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

The only way to find the car insurance company that's right for you is by getting quotes from multiple carriers and finding the one best suited for your individual budget. Luckily, sites like Compare.com make it easy for you to do just that. Just enter your information once and you'll get free quotes from dozens of the best insurance companies in your area. With those, you can guarantee you're getting the cheapest price. And who knows, the best carrier for you might not be Hallmark Financial or Southern Farm Bureau 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.