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

Quick Facts

• Based on national averages for insurance, State Farm offers significantly less expensive rates than Island
• Island offers more affordable premiums for policyholders who have a clean record
• State Farm has more affordable rates for policyholders who drive fewer than 12,000 miles every year

Island or State Farm: Which Company has the Cheapest Car Insurance?

So, you're considering switching to a new insurance policy. You've probably seen commercials and billboards from companies offering huge savings, but exactly how much money can you save by switching?

You've maybe even narrowed your search down to Island or State Farm as potential options, but which company will offer you cheaper premiums?

As you can see, State Farm is around $52 a month more affordable than Island when looking at the national average rates for auto insurance.

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

So, if you want to find out which of Island or State Farm is really the best for you, keep reading to see average rates for each company broken down by a range of different rate factors.

Island vs. State Farm: Average Car Insurance Rates by State

Island and State Farm only compete against each other in Hawaii, where State Farm offers the cheaper average prices. State Farm drivers tend to pay about $153 per month less on average compared to drivers who use Island for their insurance.

But there's more to auto insurance than just your home state. As we mentioned above, there's a lot of things that go into how insurance companies determine your premiums. Keep reading to find out more.

Which is the Best Company For Young Drivers?

Young drivers -- especially teens -- normally pay a lot for car insurance compared to older drivers. That's typically because 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 rates, teen drivers can still find ways to save money. As you can see above, teens who use Island save almost 40% a month compared to those who use State Farm.

However, both carriers will drop prices by the time drivers turn 25. State Farm offers the steepest reduction, with 25-year-olds paying less than a third of what 18-year-old drivers are charged. Island's average premiums decrease about 0% during that same period.

Which is the Best Company for Retired Drivers?

Drivers around retirement age generally enjoy some of the cheapest auto insurance prices you'll ever see. After all, they've likely been driving for quite some time, which usually lowers their chances of collisions and other infractions that can raise rates.

When looking at Island and State Farm specifically, which carrier is best for retired drivers? State Farm gets the edge here, with average premiums coming in at around $111 monthly compared to Island's $210.

Which is the Best Company for Married Drivers?

Did you know that car insurance rates are generally more expensive for single drivers than they are for married couples? That's normally because married policyholders tend to own and insure more than one vehicle, which can often earn you a discount.

For single policyholders, the difference in average prices between these two companies is significant, with State Farm premiums coming in at about 15% less than Island's. The advantage for married drivers with State Farm is also obvious, where drivers save around $85 per month.

Island or State Farm: Average Rates by Gender

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

Everyone gets the same monthly rates regardless of gender with Island, and about $12 less with State Farm.

Looking at the data for each company specifically, State Farm comes out as the most affordable option for both genders, with average prices $46 less for men and $58 cheaper for women.

Island vs. 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 auto insurance can be a complicated subject for most people. Everyone needs car insurance, but there are so many different coverages and terms 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 property damage and injuries if you cause a collision) and full coverage (which usually refers to having collision and comprehensive coverages alongside liability coverage).

Looking specifically at state minimum liability insurance, State Farm has the slight edge, with average monthly premiums coming in at $99. If you want a full coverage policy with the same state minimum limits, State Farm again has the edge, with policies averaging around $216 a month to Island's $315.

Is Island or State Farm Better for Drivers with Spotty Records?

It's no secret -- drivers with good records end up getting the best deals on their 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 collisions and speeding tickets lead to higher prices, but which carrier -- Island or State Farm -- has the lowest premiums for drivers with less-than-ideal driving records?

Which Company is Best for Drivers with Speeding Tickets?

Policyholders who use Island for their auto insurance can normally expect their monthly bill to go up about 8% after getting a speeding ticket. State Farm policyholders can expect a bit more drastic of an increase of around 14%.

But Island is typically the less expensive option for drivers both with clean records and with a ticket, offering rates that are 48% and 51% more affordable, respectively, compared to State Farm.

Which Company is Best for Drivers After an Accident?

Both carriers will increase prices pretty significantly if you get into an at-fault collision with State Farm increasing by about 18%. Island has a less extreme increase, but you can still expect to pay nearly 25% more than you were prior to your first accident.

At the end of the day, Island offers the most affordable premiums for drivers with an at-fault collision on their records, with average rates coming in at $93 compared to State Farm's $163.

Which Company is Best for Drivers with a DUI?

If you get a DUI charge on your record, it's probably going to cost you more than a simple speeding ticket or even an accident. Island drivers usually see a 88% raise in their insurance premiums after a DUI charge, while State Farm will usually increase rates by around 25%.

How does Credit Score Impact Island and State Farm Rates?

Did you know many auto insurance companies take into account your credit score when determining prices? Certain states and carriers do not allow for credit score to be used as an insurance factor, but it will come into play for lots of drivers.

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

Looking specifically at State Farm and Island, which one has the cheapest premiums for drivers at different credit levels?

Which Company is Best for Drivers with Good Credit?

You'll often be rewarded if you have stellar credit. Improving your "good" credit score to an "excellent" one will generally save State Farm customers about $25. On the other hand, Island doesn't have data available for credit scores, which means they most likely don't use credit to calculate your prices.

Which Company is Best for Drivers with Bad Credit?

Having bad credit can cost you with State Farm. If your credit score is in the "poor" range, at State Farm, you may pay around 50% more per month compared to those with "fair" scores (and even more compared to drivers with good or excellent scores). Because Island doesn't have data available for credit scores, they could have better rates for drivers with bad credit over State Farm.

Is Island or State Farm Better for Drivers who Work from Home or Have Short Commutes?

How much you drive can have a large impact on your monthly prices. Typically, the more milage you put on your car each year, the more you can expect to pay for insurance.

As you can see in the table above, annual mileage doesn't have much of an impact on how much Island charges. However, there's a small difference in monthly rates for State Farm, with drivers who put 6,000 miles on their vehicle yearly paying about $13 less each month compared to those who drive 12,000 miles annually. Still, for drivers in both categories, State Farm is the less expensive company.

Island or State Farm: 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 considerable impact as well. Normally, policyholders who live in less densely populated rural areas will pay quite a bit less than urban drivers since there are a lot fewer cars on the roads where they live.

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

In urban areas, State Farm's average premiums are around $185 while Island offers prices about $219. People in suburban areas pay around $161 with State Farm compared to Island's $219 a month. If you live in a rural area, you can expect to pay about $127 per month with State Farm and $192 with Island.

Island vs. State Farm Discounts

No matter why you might be in the market for a new car insurance policy, you're always going to want to save as much money as you can. That's where auto insurance discounts comes into play.

But where do you even start? With what seems like a million different discounts out there, it may be difficult to find all the ones you're eligible for.

Luckily, we did the hard work for you and looked at all of the different discounts Island and State Farm offer their customers so that you can see which carrier offers the most discounts and see which ones you might be able to take advantage of.

State Farm knocks Island out of the park when it comes to the sheer number of discounts available, offering 23 different discounts to Island's 23.

Both companies offer several of the same discounts -- like ABS discounts, discounts for insuring multiple cars with the same company, and passive restraint discounts -- but State Farm also offers discounts for annual mileage, anti-theft, distant student, and more.

On the other hand, Island has a few proprietary discounts of their own like employee discounts and special customer discounts.

Final Thoughts: Is Island or State Farm Best for You?

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

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

• Your driving record includes a DUI charge.
• You want the most robust protection via a "full coverage" policy.
• You drive fewer than 6,000 miles yearly.

Island might be best for you if...

• You've received a ticket for speeding recently and don't want to see your prices climb.
• You have an at-fault accident on your record.
• You want to save money while purchasing insurance for a teenager.

Hopefully, this guide helps you get a better idea of the difference between Island and State Farm and that you can now make a more informed 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 insurance policy is to compare quotes from several companies, not just Island and State Farm. Luckily, Compare.com does all the hard work for you. Just enter your ZIP code below and get free quotes from dozens of top car insurance carriers in your area, all in just a few minutes.

Island vs. State Farm FAQs

Is Island or State Farm cheaper?

State Farm is the cheaper of the two companies when looking at national average premiums, with policies averaging $158 a month with State Farm and $210 for Island. However, that doesn't mean State Farm will be the lowest company for every policyholder, since there are a variety of different factors (things like age, driving record, gender, etc.) that play a role in how much you pay.

Who is better, Island or State Farm?

Sadly, the real answer is "it depends.". One carrier is not "better" for everyone -- it all comes down to what your unique insurance profile looks like. For example, State Farm is less expensive for drivers who have less-than-stellar credit scores, while Island offers cheaper rates for policyholders with an at-fault collision on their record.

Why do Island and State Farm offer me different rates?

Car insurance carriers use quite a few different variables when calculating the prices they charge. Factors such as your driving record, gender, age, where you call home, and sometimes even things like your credit score can all be taken into consideration. Both Island and State Farm calculate premiums using different variables, 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 a bunch of different companies.

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

The only way to find the auto 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 ZIP code and you'll get quotes from dozens of your local top car insurance companies for free. With those, you can guarantee you're getting the best rate. And maybe you'll find that the best company for you isn't Island or State Farm 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.