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

Quick Facts

• In general, State Farm offers significantly less expensive prices than Hallmark Financial
• State Farm offers cheaper average premiums for residents of rural areas
• State Farm has more affordable prices for couples purchasing auto insurance together

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

So, you're thinking about switching your auto insurance. After all, you've seen ads from all sorts of companies offering sizable discounts. But exactly how much can you save by switching?

You've maybe even narrowed it down to Hallmark Financial or State Farm, but which company has less expensive premiums for insurance?

Looking at the national average rates for both companies, State Farm is quite a bit cheaper than Hallmark Financial, with rates averaging $158 per month compared to $211 with Hallmark Financial.

But that doesn't mean State Farm will necessarily be cheaper than Hallmark Financial for every single driver. Car insurance carriers use a ton of complex algorithms to calculate premiums, so depending on how clean your driving record is or how good your credit score is (among quite a few other factors), you could see wildly different prices from the ones above.

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

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

Hallmark Financial and State Farm only compete against each other in three states, with State Farm offering more affordable prices to the average driver in all of them. Oklahoma has the most noticable difference, where State Farm rates are over 70% less expensive than auto insurance premiums at Hallmark Financial.

That being said, there are plenty of other factors that go into your car insurance cost than just the state you live in. Keep reading to find out more.

Which is the Best Company For Young Drivers?

Young drivers -- especially teens -- usually pay a lot for insurance compared to older drivers. That's typically because young, inexperienced drivers are statistically much more likely to cause collisions and other accidents that will result in an insurance claim.

That being said, that doesn't mean that teen drivers have to just accept sky-high auto insurance prices. As you can see above, teens who use State Farm save nearly $150 a month compared to those who use Hallmark Financial.

However, both companies will lower rates by the time you turn 25. For example, average premiums for Hallmark Financial policyholders decrease more than 60% and State Farm's prices reduce almost 60% over that time.

Which is the Best Company for Retired Drivers?

Once you approach retirement age, you'll normally enjoy the most affordable insurance premiums out there. 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 State Farm? State Farm gets the edge, with prices for drivers 65 and older nearly 30% more affordable than the national average for Hallmark Financial.

Which is the Best Company for Married Drivers?

Did you know that car insurance rates are generally cheaper for married couples than they are for single policyholders? That's because policies for married policyholders typically cover several cars, which lots of carriers will offer you a discount for.

When it comes to relationship status, State Farm is the clear winner for those who are single, with premiums about $72 per month more affordable than Hallmark Financial, on average. The advantage for married drivers with State Farm is also obvious, where drivers save almost 20% a month.

Hallmark Financial vs. State Farm: Average Rates by Gender

Men are statistically more likely than women to get into accidents and file an insurance claim. That means when it comes to auto insurance men will normally end up paying a little more.

On average, women see prices around $20 per month less expensive with Hallmark Financial, and over $10 with State Farm.

Looking at the data for each company specifically, State Farm comes out as the cheapest option for both genders, with average rates 26% less for men and 24% cheaper for women.

Hallmark Financial or State Farm: 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 insurance can be pretty complicated. Everyone needs car insurance, but there are so many different terms and coverages that it can be hard to find the right policy.

Even so, the most common policies that many drivers look at fall into two categories -- liability only (that covers bodily injury and property damage for other drivers and passengers if you cause an accident) and full coverage (which includes two additional coverages -- comprehensive and collision -- in addition to liability).

If you're looking for state minimum liability insurance, State Farm generally offers cheaper prices of $99 compared to Hallmark Financial's $115. When it comes to full coverage policies with similar limits, State Farm again has the edge, with policies about $90 a month more affordable than Hallmark Financial, on average.

Is Hallmark Financial or State Farm 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.

Tickets and at-fault collisions will most likely raise your rates, but is Hallmark Financial or State Farm less expensive for drivers with less-than-ideal driving records?

Which Company is Best for Drivers with Speeding Tickets?

Hallmark Financial policyholders can expect their premiums to go up an average of $14 per month if they get a ticket, while State Farm usually raises rates around $21 a month, on average.

That being said, State Farm has cheaper prices for drivers in both categories -- their rates are around 31% less expensive for drivers with clean records and 25% cheaper for those with a ticket.

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 State Farm will see about a $30 increase.

Overall, drivers who use State Farm end up with the cheaper prices after an accident, with monthly prices averaging $163 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 accident or speeding ticket when it comes to your car insurance bill. On average, State Farm will climb your rates around 25% after a DUI, while Hallmark Financial's average premiums climb by just under 10%.

How does Credit Score Impact Hallmark Financial and State Farm Rates?

Often times, your credit score can come into play when companies determine your monthly bill. This isn't always the case (Michigan, for example, has banned the use of credit score as a rating factor) but it does affect several policyholders out there.

Auto insurance carriers argue that someone with bad credit is less likely to pay their bills on time, which makes them riskier to insure. Because of that, drivers with bad credit will often be forced to pay more.

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

Which Company is Best for Drivers with Good Credit?

Which Company is Best for Drivers with Bad Credit?

Is Hallmark Financial or State Farm 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 prices. Typically, those who drive less will end up with more affordable premiums since there's less of a chance of getting into an accident 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 prices for State Farm, with policyholders who drive the least paying about $13 less each month compared to those who drive 12,000 miles yearly. Still, State Farm is the cheaper option for drivers in both categories.

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

Where you call home can play a considerable role in how much you pay for insurance. Usually, if you live in a rural area with fewer cars on the road, you'll pay a little less for car insurance, while the opposite is true for people in urban areas.

State Farm boasts the cheapest average premiums for drivers in all types of areas, no matter if they're urban, suburban, or rural.

For drivers in urban ZIP codes, State Farm offers prices around $185 monthly compared to Hallmark Financial's $225. People who live in suburban ZIP codes can expect to pay about $161 per month for State Farm and $229 for Hallmark Financial. Lastly, those in rural areas tend to get the most affordable rates from both companies, with average monthly prices coming in at $127 and $178 for State Farm and Hallmark Financial respectively.

Hallmark Financial vs. State Farm 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 with what seems like a million different discounts out there, it can be challenging to nail down the carrier that has the most discounts for your unique driver profile and to find all the discounts you can take advantage of.

Below, we've broken down all of the different discounts offered by both Hallmark Financial and State Farm so that you can easily see which company offers the most discounts and, therefore, the biggest savings.

State Farm blows Hallmark Financial away when it comes to the sheer amount of discounts available, offering 23 different discounts to Hallmark Financial's four.

A couple of those are overlapping for things like discounts for being a defensive driver and passive restraint discounts. State Farm also offers ABS discounts, annual mileage 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 State Farm Best for You?

You've seen the role certain factors have on your insurance and the different discounts carriers offer. But, when it comes down to it, which insurance company is the best one for you, your vehicle, and your wallet?

State Farm might be best for you if....

• You are considering moving to another state -- undefined is only available to residents.
• Your home is in a busy urban area.
• You're buying auto 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 has ben a valuable resource as you compare Hallmark Financial and State Farm. We also hope we've given you the information you need to make the best decision about your car 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 auto insurance -- comparing quotes from several companies, not just Hallmark Financial and State Farm. Luckily, sites like Compare.com make it easy for you to do just that. Simply enter your ZIP codes below and get multiple free quotes from some of the best insurance carriers in your area, all in just a few minutes.

Hallmark Financial vs. State Farm FAQs

Is Hallmark Financial or State Farm cheaper?

Looking just at the national average rates, State Farm is the less expensive of the two companies, offering average rates of $158 a month compared to $211 for Hallmark Financial. However, State Farm won't necessarily be the lowest carrier for every policyholder, since there are lots of different variables that come into play when it comes to your car insurance bill.

Who is better, Hallmark Financial or State Farm?

Unfortunately, the answer truly is "it depends.". One company is not necessarily "better" for each driver -- it all depends on the makeup of your unique auto insurance profile. For example, State Farm offers more affordable premiums for policyholders with an at-fault collision on their record, while Hallmark Financial is less expensive for drivers who have less-than-stellar credit scores.

Why do Hallmark Financial and State Farm offer me different rates?

Insurance carriers take a look at a lot of different factors when calculating the prices they charge drivers. Variables like age, where you live, your driving record, gender, and sometimes even things like your credit score can all come into play. Both Hallmark Financial and State Farm calculate rates differently, so each one will most likely offer different premiums. The only real way to see which carrier is the most affordable for you is by comparing personalized quotes from several different companies.

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

The only way to find the car insurance company 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 ZIP code 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 State Farm 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.