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

Quick Facts

• Looking at the national averages for insurance, Travelers offers significantly more affordable rates than Hallmark Financial
• Travelers has cheaper prices for policyholders who don't have any speeding tickets, DUIs, or at-fault collisions on their record
• Travelers offers more affordable rates for policyholders who live in rural neighborhoods

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

So, you're considering switching to a new insurance policy. After all, you've seen ads from all sorts of companies offering large savings. But exactly how much can you save by switching?

You've maybe even narrowed it down to Hallmark Financial or Travelers, but between the two, which carrier has less expensive premiums for car insurance?

As you can see, Hallmark Financial has average rates that are around 21% a month more expensive than those from Travelers when looking at the national average rates for auto insurance.

However, that doesn't mean Travelers will necessarily be cheaper than Hallmark Financial for each driver. Insurance carriers vary their prices depending on things like how good your credit score is, where you live, how clean your driving record is, how old you are, and tons of other factors, so premiums will vary quite a bit from person to person.

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

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

Hallmark Financial and Travelers only compete against each other in two states, with Travelers offering less expensive rates to the average driver in all of them. Arkansas has the most noticable difference, where Travelers premiums are $95 more affordable than auto insurance prices at Hallmark Financial.

There are plenty of other factors that go into your insurance cost than just where you live. Read on to learn more.

Which is the Best Company For Young Drivers?

Teen drivers will almost always have the most expensive car insurance rates of any group on the road. That's 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.

But still, even with seemingly sky-high premiums, teen drivers can still find ways to save money. As you can see above, teens who use Travelers save almost 25% per month compared to those who use Hallmark Financial.

But both companies will offer you dramatically lower rates by the time you turn 25. For example, average prices for Hallmark Financial policyholders decrease about $300 and Travelers's rates reduce around $200 over that time.

Which is the Best Company for Retired Drivers?

When it comes to auto insurance, patience and experience pay off, with drivers around retirement age paying some of the lowest prices out there.

When looking at Hallmark Financial and Travelers specifically, which company is best for retired drivers? Travelers gets the edge, with premiums for drivers 65 and older $22 less expensive than the national average for Hallmark Financial.

Which is the Best Company for Married Drivers?

Did you know that insurance prices are usually cheaper for married couples than they are for single drivers? That's normally because married drivers tend to own and insure multiple vehicles, which can often earn you a discount.

For those who are single, the difference in average rates between these two carriers is significant, with Travelers premiums coming in at a quarter less than Hallmark Financial's. But for married policyholders, that advantage is much less clear - Travelers has the edge when it comes to average rates.

Hallmark Financial or Travelers: Average Rates by Gender

Because women are less likely to get tickets and get into collisions, they have a decreased chance of filing a claim with insurance. So, insurance companies will tend to charge women less than men.

Usually, women see premiums nearly 10% a month less with Hallmark Financial, and about 6% less with Travelers when compared to their male counterparts.

Looking at overall affordability, Travelers offers the most affordable average prices for both men and women. On average, women save about $40 per month and men save around $49 with Travelers compared to the average Hallmark Financial policyholder.

Hallmark Financial vs. Travelers: 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 car insurance can be pretty complicated. Everyone needs auto insurance, but there are so many different terms and coverages that it can be hard to find the right policy for you.

That being said, most policies end up falling into two different types of coverage -- liability coverage (which covers the other party's injuries and property damage if you cause a collision) and full coverage (which typically refers to having collision and comprehensive coverages in addition to what you get with liability coverage).

Looking specifically at state minimum liability insurance, Travelers has the slight edge, with average monthly premiums coming in at $108. If you want a full coverage policy with the same state minimum limits, Travelers again has the edge, with policies averaging about $225 a month to Hallmark Financial's $306.

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

It's no secret -- drivers with good records end up getting the best deals on their car 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 speeding tickets and at-fault accidents lead to higher prices, but which carrier -- Hallmark Financial or Travelers -- has the lowest 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 insurance can generally expect their monthly bill to go up around 7% after getting a speeding ticket. Travelers policyholders can expect a bit more drastic of an increase of about 20%.

Even so, Travelers is usually the more affordable option for drivers both with clean records and with a ticket. With Travelers, drivers with a clean record can save around $66 per month and drivers with a speeding ticket can save about $48 a month.

Which Company is Best for Drivers After an Accident?

After an accident, drivers who have their car insurance through Hallmark Financial can expect to see around an $35 -- or about 15% -- rise in their insurance premiums. Drivers who use Travelers for their auto insurance will see a monthly bill around $45 (or 26%) more expensive after reporting an accident to their insurance company.

At the end of the day, Travelers offers the most affordable rates for drivers with an at-fault collision on their records, with average prices coming in at $173 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 ticket when it comes to your car insurance bill. For example, Travelers increases average rates by more than $75 per month -- that's nearly a 40% increase.

How does Credit Score Impact Hallmark Financial and Travelers Rates?

Did you know many auto insurance carriers take into account your credit score when determining premiums? This isn't true for everyone (for example, Michigan and California are two states that ban the practice entirely), but it does affect lots of drivers out there.

The reasoning car insurance companies use is that policyholders with bad credit will be less likely to pay their bills on time; so typically, they'll be asked to pay more, while those with good credit will be rewarded with cheaper prices.

So, which carrier offers the best premiums for drivers 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 Travelers 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 auto insurance bill. Generally, those who drive less will end up with more affordable prices since there's less of a chance of causing a collision and filing 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 Travelers, with policyholders who drive 6,000 miles every year paying about $5 less each month compared to those who drive 12,000 miles yearly. Still, for drivers in both categories, Travelers is the less expensive company.

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

Where your home is can play a sizable role in how much you pay for insurance. Normally, those who live in urban areas will pay more than policyholders in rural areas due to the number of cars that are on the roads where they live.

When comparing these two carriers side-by-side, Travelers typically comes out as the lowest option for drivers in every type of area, no matter if it's urban, suburban, or rural.

Those in rural areas can expect to save around 24% with Travelers compared to Hallmark Financial. People who live in suburban areas pay about 30% less with Travelers compared to Hallmark Financial. For drivers in urban ZIP codes, Travelers's average prices are around 9% less than Hallmark Financial.

Hallmark Financial vs. Travelers 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 with what seems like a million different discounts out there, it can be difficult to find all the ones you're eligible for or to nail down the company that has the most discounts for your unique driver profile.

Luckily, we did the hard work for you and broke down all of the different discounts offered by both Hallmark Financial and Travelers so that you can see which company can save you the most money each month.

Travelers knocks Hallmark Financial out of the park when it comes to the sheer number of discounts available, offering 25 different discounts to Hallmark Financial's 25.

Both companies offer several of the same discounts -- like discounts for being a defensive driver and passive restraint discounts -- but Travelers also offers discounts for ABS, advance quote, alternative fuel, 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 Travelers Best for You?

You've seen the effect certain variables have on your car insurance and the different discounts carriers offer. That's all well and good, but at the end of the day, which insurance carrier is the best fit for you?

Travelers might be best for you if....

• Your driving record contains an at-fault collision.
• You're looking for the best rates on liability only coverage.
• Your neighborhood is in the suburbs.

Hallmark Financial might be best for you if...

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

Hopefully, this guide has ben a valuable resource as you compare Hallmark Financial and Travelers. We also hope we've given you the information you need to make the best decision about your auto 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 a handful of companies, not just Hallmark Financial and Travelers. Luckily, Compare.com makes 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. Travelers FAQs

Is Hallmark Financial or Travelers cheaper?

Travelers is the more affordable of the two companies when looking at national average premiums, with policies averaging $167 a month with Travelers and $211 for Hallmark Financial. But that doesn't mean Travelers will be the most affordable company for everyone, since there are multiple different factors (things like driving record, age, gender, etc.) that play a role in how much you pay.

Who is better, Hallmark Financial or Travelers?

Unfortunately, the answer truly is "it depends.". One carrier is not necessarily "better" for everyone -- it all depends on the makeup of your unique car insurance profile.

Why do Hallmark Financial and Travelers offer me different rates?

Auto insurance carriers use several different variables when calculating the rates they charge. Factors like age, your driving record, where you live, gender, and sometimes even things like your credit score can all be taken into consideration. Both Hallmark Financial and Travelers use different formulas, so it's likely they'll offer different prices. The best way to determine which company is the cheapest for you is by comparing personalized quotes from lots of different companies.

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

The only way to find the insurance carrier that's right for you is by getting quotes from several 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 quotes from dozens of your local top auto insurance companies for free. With those, you can guarantee you're getting the lowest rate. And maybe you'll find that the best company for you isn't Hallmark Financial or Travelers 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.